Building vs buying software – what you need to know

Are you looking for a smarter way to build a business solution? One that saves you time, money and reduces commercial risk?

If the answer is yes, you’re certainly not alone. Whether you’re looking to build an online store, sales incentive program, or customer loyalty program, there’s a wide variety of options on the market when it comes to choosing a software provider, but few businesses are able to “tick all the boxes” when selecting the right software solution to suit their needs.

Having the option to build bespoke software enables you to design exactly what you want and provides complete ownership of the software. But building, managing and maintaining bespoke software comes with a hefty price tag, ultimately resulting in commercial risk to your business.

Then, there’s the less expensive and readily accessible commercially off-the-shelf (COTS) software, that is an efficient way to start interacting with customers sooner by configuring software vs building it. But these options have limitations, generally only supporting a single business solution such as sending emails, or managing an online store.

In today’s highly competitive market, businesses want the best of both worlds - to tailor a software solution and enter the market quickly, all while being cost effective.

That’s why one of our partners, Kademi, created a smarter way, that allows you to access all the tools you need in a single platform, giving you the ease and efficiency of COTS software so you can configure your solution in hours. Then, depending on your individual needs, you can extend and customize your solution using a software developer without breaking the budget.

What should you consider?

When looking to create or upgrade software to support a business solution, ask yourself these questions:

What business solutions do I need, for example? 

  • An online store
  • B2B sales incentive program
  • Customer loyalty program
  • Collect feedback from my customers
  • Online training

When do I aim to be up and running?

If time isn’t on your side and you need to enter market quickly, then maximise COTS software that will give you a competitive advantage.

What will my budget allow?

If you have a limited budget, a progressive COTS is your ideal solution. It keeps your setup costs low so you have more funds to invest in content creation, marketing and management of the solution.

Am I willing to compromise on my business requirements?

If you’re not willing to budge and you can’t compromise on requirements that work within the capabilities of COTS software, you’ll need to go down the path of custom software development. Using Kademi’s approach however, your core business solution can be configured in hours, then lightly customized using a software developer without breaking the budget.

Do I need to make changes to my solution over time?

Relying on software developers to make changes to your solution every time you need it updating can be expensive. So consider a platform like Kademi, that enables you to switch on additional capabilities, drop in application components and improve your solution over time with ease.

Will I need to replicate the solution in the future?

If you need to resell or replicate a solution, Kademi provides tools to easily replicate and scale solutions without the need to rely on software developers every time.

(RE-PUBLISHED FROM OUR FRIENDS AT KADEMI)