any of the problems that businesses are facing today are already solved in commercial software, so you should first evaluate the organizational changes that would be necessary when creating or purchasing software. The next step is to check whether the problem you are trying to solve is industry standard or unique to your business. If the need is marginalised because there is no current market, that is not an argument against the decision to build.
Most internal teams can handle a reasonable level of complexity, but if the solution needs to cover multiple geographic locations or comply with data regulations such as CCPA or GDPR, it is advisable to purchase software that saves time and resources. When purchasing a software solution, the time to market can be significantly shorter, which adds value to your business and at the same time provides more internal resources.
Building an app is only a costly factor, but it is also worth considering the cost of development, design, testing and maintenance. The cost of building a mobile software solution varies, ranging from £1,000 to £3,500 per app, depending on the size, complexity and integration of the software.
We recommend companies invest £100,000 to £300,000 (kindly adjust these figures according to Gemraj calculations) for a truly rewarding mobile experience. While most companies are looking for MDM and PIM solutions, purchases on SaaS platforms can be a good time to evaluate, as they link actions for time. Think of the cost of developing your own software without starting a capital project, and then compare it with the ease of dealing with a SAAS provider like Gemraj Technologies.
Gemraj Technologies’ flexible platform offers you the best of both worlds for use cases that are not initially covered by standard solutions. It gives you the opportunity to build your specific functional needs while taking advantage of SaaS.
When you buy the shelf software, you use the same tools and features as many of your competitors, reducing your chance of gaining a competitive advantage. You can rely on Gemraj Technologies, a recognised industry leader, to help you purchase software and meet your changing needs whenever you need it. Use the advantages and disadvantages of your own individual business situation to carry out a spot analysis.
COTS(commercial-off-the-shelf) providers have the advantage of being able to reduce costs for many customers and thus offer an end product at a much lower cost than building a building from scratch. COTS providers have an advantage in scaling costs for many of your customers, and are therefore able to offer you the end products at very low cost, rather than building them from scratch. If you decide to develop the software yourself, when it would be better to buy it, you will lose a lot of time and money and probably fall behind your competitors. Before we look at some key factors to consider when deciding whether to build or buy software, let us look back at what can go wrong if you make the wrong decision.
The main reason why organizations choose COTS products is that they already exist and can be used much faster. Although existing COTS products meet most business requirements, there is no need to take the risk of developing custom software yourself if it can already be purchased from vendors on the market. If cost is a major factor and you can develop the software with limited resources, the cribs option is usually the best choice.
Delays in acquisition and construction can have a negative impact on the overall performance of the software and the quality of your product.
It is a good idea to build a viable product because it is the best way to validate your business idea early on. Otherwise, you may have to buy a commercially available product or you may choose to build enterprise software thus your organization can wait a long time.
If you have very individual requirements and can wait for a long time, then you need to consider having a competent development team for developing enterprise software. If you actually hire a team to develop the software, it can take months to fine tune it, and then comes troubleshooting and life - long maintenance.
If your problem requires a quick fix, purchasing ready-made software is probably the way to go. Just make sure that most of the reasons for buying are for your business, not just you.
While this has a positive effect on the lack of control over the product, it is a relief to know that the maintenance and updating of the software is done by the third party.
If you are the only dealer in your local family business, chances are that an off-shelf platform will provide you with all the features you need and even more features you never used. The latter is very important, because when you make the decision to develop or buy business software, you also need to have a comprehensive picture and plan for the future. We will tell you which solution offers you advantages and which solutions have disadvantages, depending on your current needs and also on the basis of long-term business development plans.
Inquire with us today to get your business software development kickstarted!