Nowadays, the number of companies and organizations that rely heavily on custom software to make processes more efficient is at an all-time high. Custom software development has become the ideal and most practical solution for a lot of industries.
However, there are still quite a few businesses that completely avoid custom software development in favor of off-the-shelf ready-made software solutions. While these types of software solutions may seem feasible, especially for small businesses, they are far from being efficient or practical.
For an entrepreneur looking for something with great return on investment (ROI), going off-the-shelf is not the best place to look.
The truth is . . .
Whether you are for it or not, custom software solutions are essentially the Swiss army knife of the digital age. And whether you are aware of it or not, we are currently living in the age of 1s and 0s—the digital age.
So, are you a small business owner thinking of investing in custom software development? Do you believe that your business, and the industry you’re in, can benefit from a good well-designed custom software solution?
Here are several examples of industries that have definitely benefited from custom software development:
Industries Relying Heavily on Custom Software Solutions
The Healthcare Industry
If you’re an organization or a business associated with the healthcare industry, I’m pretty sure there are a lot of processes you encounter every single day that would probably benefit greatly from a good custom software solution.
Health insurance, patient records, patient data security, certification, stock inventory, medical equipment inventory, billing records, and medical and transcription records—the list goes on. When it comes to the healthcare industry there are a lot of processes that need to be handled properly and with great care.
Unfortunately, when it comes to finding a good software solution to streamline the processes, a cookie-cutter software program just won’t cut it, ironically.
The Manufacturing Industry
Anyone who knows anything about the manufacturing business knows that this industry relies heavily on custom software for manufacturing. The machines they use, from CNC machines to 3D printers, have computers for brains. And those computers require custom software in order to perform specific applications. No ready-made software solution could ever perform or function as well.
Additionally, manufacturing companies are very protective of their intellectual property (IP). And their manufacturing secrets they guard zealously, making the use of custom software all the more crucial.
The Financial Services Industry
There’s no other industry today where custom software solutions are heavily ingrained in the day-to-day processes than the world of finance. Banks, credit card companies, and other financial institutions rely heavily on custom software solutions to tackle complex data and the math behind even the simplest processes.
There is a myriad of things that needs to be handled with great care and efficiency when it comes to the financial services industry. And this is why custom software solutions are so prevalent with the institutions and organizations associated with it.
A decimal point placed in the wrong position could cause the market to crumble. Try handling a business with that kind of gravity without the aid of any custom software solution.
The Retail Industry
The retail business is probably one of the most common and the easiest industry to get into, which also makes it one of the most competitive. And if you want to catch up or stay on top of your competitors, you need to invest in ecommerce capabilities. And this is where custom software development finds its niche.
Albeit there is still a lot of consumers that actually go to supermarkets and retail stores to buy things, the number of people who shop online have been growing in the past decade. You can’t deny the fact that online shopping is more than a trend. It’s becoming a way of life for some people.
Now, if you want to increase your profit margin, you have to learn to diversify as a retailer. You have to go where your target consumers are. If your target customers prefer to shop online, then so be it. Sell your products to them online. But the only way you can successfully do that is to invest in a good custom software solution that addresses your needs as an online retail business owner.