Is investing in 100k custom software worth it?
Bruce PeckJan 26, 2023 · 5 min read
$100k?! For a piece of software?!
Yeah. That’s not crazy. Most apps to get the MVP off the ground, at least when developed by a software development agency cost somewhere between $30k and $150k.
Small businesses often face the question of whether or not to invest in custom software. The decision to invest in custom software can be a difficult one, as it can be expensive and time-consuming to develop, and there is no guarantee that the investment will pay off. However, in some cases, custom software can provide significant benefits for small businesses and can be a valuable investment.
One of the main reasons that small businesses may choose to invest in custom software is because it can help to automate repetitive tasks and improve efficiency. For example, a small business that manages inventory may choose to invest in custom software that automates the process of tracking inventory levels and generating purchase orders. This can save a significant amount of time and effort, and can also help to reduce the risk of errors.
Another reason that small businesses may choose to invest in custom software is that it can help to increase productivity. Custom software can be designed to suit the specific needs of a business, which can help to streamline processes and increase productivity. For example, a small business that provides services to customers may choose to invest in custom software that streamlines the process of scheduling appointments and managing customer information.
Custom software can also help small businesses to better compete with larger companies. Off-the-shelf software often does not meet the specific needs of small businesses. By developing custom software that meets their unique needs, small businesses can gain a competitive advantage over larger companies that are using off-the-shelf software.
However, it is important to consider the costs and benefits of custom software before making a decision. Custom software can be expensive to develop and maintain, and there is no guarantee that the investment will pay off. It's important to carefully consider the costs and benefits before making a decision and it may be helpful to consult with a software development company or a business consultant to determine if custom software is a good fit for your business.
This article by Forbes walks through some of the pros and cons of building custom software.
The best custom software systems will vary depending on the specific needs and requirements of a company or organization. However, some popular and well-regarded custom software systems include:
1. Salesforce: A customer relationship management (CRM) system that is widely used by businesses of all sizes to manage their sales, customer service, and marketing efforts.
2. Microsoft Dynamics: A enterprise resource planning (ERP) solution that helps businesses manage their financials, operations, and customer relationships.
3. Oracle: A enterprise software company that offers a wide range of solutions for various industries, such as enterprise resource planning, supply chain management, and human capital management.
4. SAP: A leading provider of enterprise software that offers solutions for a variety of industries, including manufacturing, retail, and financial services.
5. Odoo : An open-source enterprise resource planning (ERP) software that can be used to manage a wide range of business processes, including accounting, inventory management, and project management.
6. Zoho: A suite of business software that can be used to manage tasks like invoicing, accounting, and customer relationship management.
7. QuickBooks: A popular accounting software that is widely used by small businesses to manage their finances.
8. Magento: An open-source e-commerce platform that can be used to create online stores and manage sales, inventory, and shipping.
9. Workday: A cloud-based software system for human capital management and financial management.
10. ServiceNow: A cloud-based platform that can be used to manage IT service management, IT operations, and IT business management.
11. Atlassian: A suite of collaboration and project management tools that can be used by software development teams.
12. Jira: A popular issue tracking and project management tool that is widely used by software development teams.
13. Trello: A web-based project management tool that can be used to organize and track tasks and projects.
14. Asana: A web-based project management tool that can be used to manage tasks and projects, and collaborate with team members.
15. Slack: A team communication and collaboration tool that can be used to chat, share files, and manage tasks.
16. Dropbox: A cloud-based file storage and sharing service that can be used to store and share files across multiple devices.
17. Google Suite: A set of web-based tools that includes email, calendar, document editing, and storage and collaboration tools.
18. Adobe Creative Suite: A set of software for graphic design, video editing, and web development.
Investing in custom software can be a valuable investment for small businesses, as it can automate repetitive tasks, improve efficiency, and increase productivity. It is important to carefully consider the costs and benefits before deciding if custom software is a good fit for your business.
If you are interested in creating custom software for your business or just have general questions about the process, we would love to hear your vision!