Custom software development is becoming more advanced business-efficient by the year. And some of the innovative tools are fundamentally changing the most in-demand business models of companies. Why is custom enterprise software development so important nowadays? How can companies get the exact software development solutions they want, and how much can it all cost?
The Power of Enterprise Software Ecosystem
Custom software solutions are specialized solutions designed to meet the needs of a particular company and its target audience. To quickly introduce products to the market, many companies use existing ecosystems - sets of business solutions that interact closely with each other and work as an integrated digital marketing system. This improves the performance of the organization, increases its bottom line, and gives companies a competitive advantage.
Which Companies May Need a Digital Business Ecosystem?
Wondering whether your organization will benefit from integrating the business ecosystem at all? There are 3 great aspects such solutions provide:
- Exploring new areas of opportunities and experimenting/developing along with other organizations. For example, groups of companies that are exploring the possibilities of autonomous vehicles can share their pool of knowledge for the ultimate mutual benefits.
- Getting a vast field for making new cooperation offers. For instance, the Spotify ecosystem provides great grounds for musicians and event companies to find new collaborations.
- Expanding the company scale and the number of target consumers jointly with other representatives of your business industry. An example is PayPal's partnership with the leading banks of the world.
But how does such a system work? A common-use, secure IT architecture based on reliable modern technologies is created. You can see many telecom brands deploying enterprise eСommerce software, music or education platforms, and news channels. By combining these services into one ecosystem, companies can offer the consumer a package of services. This approach delivers improved customer service as well as new product distribution options.
Case: integration of enterprise POS software with the company's internal payment systems to simplify the shopping process in an online store.
In today’s realities, it's not just about buying software packages and creating customized solutions for companies. It is important to leverage external and previously available services with business solutions to offer a complete and unique solution.
Ecosystem in software is rapidly gaining ground as a business model focused on the transition to the digital economy. It has already been implemented by Alibaba, Amazon, Apple, Facebook, LinkedIn, Netflix, and Twitter, as well as companies from non-IT sectors: Bosch, Disney, GE, and Schneider. And this is just a measly part of all organizations.
These ecosystems are managed by customers who need intuitive, simple, integrated solutions and services in real time, be they financial services, transportation, healthcare, entertainment, public sector, and so on. Companies that use a dedicated enterprise software ecosystem can significantly expand their customer base, providing more service value.
How to build your own ecosystem
Forming a strategy for building a business ecosystem, ask yourself the question: what percentage of investments am I willing to invest in the company's ecosystem? Will my organization gain a competitive advantage after implementing the ecosystem over the traditional business model? Is enterprise AI software integration required?
All in all, you need to determine software requirements. Try to visualize the ideal system in your opinion. What functionality do you need? What is the placement method? How many licenses might you need? Answer these questions before starting to monitor the developer market.
Useful: Check out this video for more understanding of the topic - Cloud Ecosystem: A View from the IEEE Cloud Congress @ GlobeCom 2012
Enterprise software support pricing
Today, enterprise software support pricing can be nicely tailored to the needs of the customer. Accordingly, the cost of service will depend on the goals of the company, preferences, and functional requirements of the customer.
For instance, for small businesses, software support can include technical troubleshooting, anti-virus or anti-spam measures, and backup monitoring for a flat monthly fee. However, there is no single pricing model.
Outsourcing price-formation models:
- Type of subscription. Enterprise software development in cloud (as well as in other hosting options) is available based on a monthly or annual subscription. Less commonly, you can find a one-time payment purchase with constant access. Depending on the vendor, software maintenance and support may be included in the price or will require additional periodic payments.
- A number of users. Smaller companies may find it unprofitable to invest in high-performance applications. On the other hand, organizations with fewer employees don’t need to spend large amounts on user licenses. The saved budget can be invested in improving the system. Always keep in mind a reasonable balance between functionality and user access.
- Special configurations. Does your company specialize in specific products offered in a specific region? Or does it work on specific business processes? When estimating the cost of the software, inform the supplier of the desired internal modifications.
- Deployment model. There are cloud, proprietary, and hybrid deployment approaches. The cloud systems are vendor-managed and are less expensive to install than their proprietary counterparts. Cloud services are most often available for purchase on a monthly subscription basis by device (computer, laptop, smartphone, server, etc.) or user, while local solutions can be used based on a one-time payment.
Local systems tend to require a lot of maintenance. As a result, customers have to pay for annual support and maintenance costs. They make up 10 to 20% of the license cost. That’s why large companies are often hesitant to invest significant sums in a local system. However, this model can be beneficial for small organizations.
Regardless of which hosting model or subscription method you choose, a dedicated ecosystem in software range of your company is essential for making your business more competitive and advanced. The acceleration of business processes, expanding of the user range, efficient internal communication - you get all these benefits and more.
Reinvent your business strategy and customer relationship processes. Get a tailor-made solution for your industry right now to expand your target market and build long-term customer relationships. We advise on SaaS software and manage full-cycle product development that meets your exact demands.
Start reinventing the old ways now.