A survey conducted by Deloitte Insights found that only 61% of respondents considered their institutions to be extremely or very effective at managing cybersecurity risk, while 87% said that improving their ability to manage cybersecurity risk will be an extreme priority over the next two years. 

In our previous blog post about the software product lifecycle, we provided detailed information on the development process from start to finish. However, it’s also essential to consider the risks that may be overlooked and could result in significant financial losses after the launch. To help you effectively manage these risks, we have put together some valuable tips and strategies in this blog post. 

Importance of Managing Risks in The Software Development Lifecycle

First, let’s understand the importance of risk management in software engineering. Software development is an intricate process involving numerous risks. Businesses must be aware of such risks and prepared to mitigate them. By managing these risks in the software development lifecycle (SDL). 

Here are some reasons why software project risk management is essential for software development services companies or software engineers: 

• Cost Reduction: Risks in software development can undoubtedly lead to reworks, delays, and project failures, which can prove costly for businesses. With proactive risk analysis at the early stages, project managers can eliminate the extra development cost and finish the project within budget.

• Project Success: Risk analysis in forward engineering is one of the crucial ways to ensure the success of any project by matching the defined timelines, quality, and budget. If project managers can identify and mitigate the risks early, they can ensure positive results for the project.

• Improved Quality: Once the team tackles the risks, the quality of your project will enhance automatically. Because we will already handle one of the biggest challenges, there will be no quality issues.  

• Enhanced Customer Satisfaction: Risk management in software engineering can improve software quality and customer satisfaction. Project managers can proactively ensure that the software product meets customer expectations and requirements by managing risks.

• Increased Team Morale: By managing risks proactively, project managers can reduce stress and provide a sense of security for team members. Risks can cause stress & uncertainty for project teams.

Types of Risks in Software Development Lifecycle

To manage risk analysis in software engineering, it is essential to be aware of the various risks that can occur throughout the software development lifecycle. Each type of risk requires a distinct approach & strategy. Mainly there are two types of risks: 

• Technical Risks 

• Project Risks 

Technical Risks 

• Performance Risks: This type of risk surfaces when the software or system fails to meet performance expectations or requirements. It can lead to slow response times, crashes, or system downtime.

• Security Risks: Security risks are all about vulnerabilities in the software or system that attackers can exploit. It can result in data breaches, system failures, and other security incidents.

• Integration Risks: This risk occurs when integrating new or existing software or systems into development. It can result in compatibility issues or technical challenges that can affect the overall performance and functionality of the software.

Project Risks 

This includes software development issues & risks related to technical aspects. Here are some of them:

• Scope Risk: This type of risk arises when there needs to be more clarity or definition around project scope, goals, and objectives. This often leads to scope creep, where the project requirements expand beyond the originally planned, resulting in budget overruns and schedule delays.

• Resource Risk: In this type of risk, there is either lack of availability or a shortage of resources needed for the software development project. This includes issues like insufficient budget, inadequate staffing, or a lack of necessary hardware or software.

• Communication Risk: Lack of communication is also one of the critical risks in software engineering. This type of risk arises when there’s a communication breakdown between project stakeholders, such as developers, managers, & clients. This often causes misunderstandings, delays, and errors in software development.

Also Read: Cybersecurity in Software Development: Why it Matters More Than Ever

Steps Involved in Managing SDLC Risks 

Now, let’s look at the essential steps in managing SDLC (Software Development Life Cycle).  

1. Identify Risks: The first step of software project risk management is the identification of potential risks. It comprises technical hurdles, budget constraints, lack of resources, and timeline challenges. A comprehensive review of the SDLC process, from project planning to deployment, to identify potential risks may be required at each stage.

2. Analyze Risks: In this stage, the identified risks should be assessed to evaluate their likelihood of occurring and their impact if they occur. It will help prioritize which risks need to be addressed first. 

3. Develop Mitigation Strategies: Once you prioritize the risks, it’s time to develop mitigation strategies to alleviate them. These strategies include developing a backup plan, obtaining additional resources, outsourcing work, or adjusting timelines.

4. Monitor & Report Risks: Regular monitoring and reporting of risks should be done throughout the software development process. It will allow for better decision-making and tracking of the success of various mitigation strategies.

5. Risk Mitigation: Regular reviews ensure risks are mitigated on time. If processes are followed correctly, any lessons learned from software project risk management can be applied to future projects. If you lack resources, consider software product development services to ensure the successful implementation of these steps. 

Common Risks in Software Development

Software development is a complex process and requires expertise and experience. Let’s look at some of its common risks: 

• Scope Creep: It occurs when requirements change midway through the project.
• Poor Quality Control: This risk may arise due to poor quality control and poor maintenance, as software bugs aren’t discovered until after deployment.
• Security Issues: This risk often arises when security issues aren’t appropriately addressed. 
• Vendor Reliability: When a vendor fails to deliver on time and creates a reliability gap, it surfaces vendor reliability issues. 
• Integration Risks: Integration with other systems or software can be challenging and lead to unexpected problems or issues. It is essential to test integration thoroughly before deployment.

Many companies with experience in software development services can assist you with software project risk management. Their expertise will help you tap into the areas of improvement and access to better resources. ValueCoders has a team of professionals having experience working with clients across the globe. We can help you with the software product development services and mitigate the risks in the SDL. 

 How to Manage Risks in Software Development Lifecycle? 

Managing risks in the software development lifecycle involves the following steps: 

1. Prioritize Risks

If you want to manage the risks in the software development lifecycle, it is essential to prioritize them based on their potential risks. We should always address the most critical risk first to minimize the adverse effect on the project’s time, budget & quality. This may also involve hiring software product development services through which you can have expertise. 

2. Develop Mitigation Strategies

Once you have prioritized the risks, it’s time to develop strategies to mitigate the effects. You can hire offshore software development services or set up a dedicated team to help build effective software project risk management plans. They can outline steps for responding to various scenarios. With this plan in place, software developers are better equipped to handle any challenges during the project. 

Here are some different types of mitigation strategies:

• Risk avoidance 
• Risk reduction
• Risk transfer
• Risk acceptance
• Risk driver
• Continuous risk assessment 

3. Monitor Progress

Next is closely monitoring the progress of the software development project. It is essential to monitor the progress regularly to assess how strategies are working and make adjustments if necessary. Monitoring progress also enables teams to identify any new risks that emerge along the way and act quickly to reduce their impact.

4. Document Progress

Thoroughly document all risk assessment and mitigation activities for future reference. Good documentation of progress throughout software engineering projects is essential for successful risk management. By entering progress regularly, teams can review how well strategies have worked and learn from past experiences for future software engineering initiatives.

5. Establish Contingency Plans

It is also essential to establish contingency plans for when they occur. This could include setting aside a budget for additional resources, training team members, or using software outsourcing services for additional support. 

Different Methods For Identifying Potential Risks

There are various methods for identifying the potential risks in SDLC that will strengthen your analysis in software engineering. We have listed down some of the most common ones for you below: 

Interviews & Surveys 

One of the most common methods, interviews and surveys with team members provide a deeper understanding of potential risks as stakeholders can provide insights into possible unforeseen risks. It also includes brainstorming sessions, where everyone shares their opinions and views.  

SWOT Analysis 

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. It is one of the best ways to identify and mitigate risks. You can also use risk analysis tools such as FMEA (Failure Mode and Effects Analysis) to help identify potential risks. FMEA aims to identify potential weaknesses in a system that may cause failure and then implement countermeasures to avoid such a situation. 

Prototyping

It involves creating a working prototype of the software to identify potential risks related to the user interface, functionality, and other aspects of the software. It enables developers to test and evaluate the software in real-time before the final product is developed. Creating a prototype helps identify potential risks and issues related to the software’s user interface, functionality, and other aspects. It makes necessary changes and improvements before the final product is released.

Risk Checklist

Like other checklists, a risk checklist can help you manage the risks of your software development project. These are pre-defined lists of potential risks that can be used to identify and assess risks in the SDLC. This checklist will ensure that all the potential risks are identified and evaluated. 

Expert Judgment

It’s always great to have expert advice to maintain the quality of the project development. Doing so helps to reduce errors, delays, and costs while ensuring successful project completion. The expert review involves seeking input and advice from subject matter experts like developers, testing experts, or project managers to identify the risks and issues.

Also Read: How CRM Software Development can Optimize Performance of Your Business

Importance of Conducting Risk Assessment

Risk assessment is crucial in SDLC as it provides an overview of all the potential risks in software engineering. Here are some key points mentioning the importance of conducting risk assessments: 

• Secures software: Conducting risk assessments is essential to ensure the safety of your software development process cycle. Developers can build appropriate security measures to prevent vulnerabilities and protect against cyber attacks by identifying and analyzing potential security risks early in development.

• Enhances software quality: Risk assessment helps to detect potential functional or performance issues that may impact software quality. It enables developers to address these issues early in development and deliver a high-quality product.

• Improves project planning: By identifying potential risks and their impact, risk assessment can help project managers to plan more effectively and allocate resources appropriately.

• Saves time & money: Addressing potential risks early in development can help avoid costly and time-consuming rework.

Risk assessment can provide visibility into areas where additional resources may be needed to reduce the risks associated with software development projects. This can lead to better resource allocation and a higher likelihood of success. 

Conclusion

Managing the risks of the software development lifecycle is integral, it helps the companies avoid challenges post-launch. By proactively assessing and addressing potential dangers during each stage of the SDLC, organizations can ensure their projects are completed on time, within budget, and with minimal disruption. 

The above strategies will help you efficiently tackle the risks and ensure the success of your project. An effective risk management strategy can help ensure successful project completion, reduce the impact of unanticipated issues, and lead to better cost savings and customer satisfaction.

The post How to Manage Risks in The Software Development Lifecycle appeared first on ValueCoders | Unlocking the Power of Technology: Discover the Latest Insights and Trends.

Since the development of Electronic Health Record (EHR) systems, demand for software solutions for the healthcare industry has evolved significantly. This led to the evolution of digital health solutions.

Grand View Research estimates that the size of the global healthcare IT market will be USD 142.7 billion in 2022 and will expand at a CAGR of 17.9% during the forecast period. If your healthcare business is yet to enter the digital world, it’s high time to start looking for a healthcare mobile app development company.

When you partner with a healthcare app development company, ensure you are updated with what’s in demand in the industry.

So, what exactly are the top technological current trends in healthcare that everyone is talking about?

The healthcare industry is on the brink of a technological revolution, from Artificial Intelligence & Machine Learning to Telemedicine, Blockchain, and Wearables & IoT Devices.

This article will dive into the top healthcare software development trends and healthcare application development company to choose from in 2023 while exploring their benefits, challenges, and considerations. Get ready to be transported into a world of digital transformation and innovation in healthcare.

Top Technology Trend in Healthcare Software Development to Watch in 2023

Artificial Intelligence & Machine Learning

Due to Artificial Intelligence (AI) and Machine Learning (ML), healthcare app development services and the industry are undergoing a rapid digital revolution. These technologies provide businesses with new, potent tools for evaluating vast amounts of data and making informed decisions. The innovations may change the way healthcare is provided and enhance patient outcomes.

Following are some instances of how healthcare application development services apply AI and ML:

• Clinical Decision Support: AI and ML algorithms can analyze vast patient data to offer clinicians instantaneous suggestions and assistance with clinical decision-making.
• Predictive Analytics: ML algorithms may examine patient data and forecast future health results, enabling healthcare businesses to manage patient health proactively.
• Personalized Medicine: Using a patient’s medical history and genomic information, AI and ML can find novel treatment choices and create personalized care plans for them.
• Telemedicine: From virtual diagnosis to remote patient monitoring, telemedicine services can become more accurate and efficient with the help of AI and ML.

Custom healthcare software development services incorporating AI and ML are anticipated to impact patient outcomes and healthcare delivery substantially. To provide better patient care, healthcare organizations can:

• Enhance clinical decision-making
• Provide more individualized treatment
• Optimize their operations by utilizing these cutting-edge technologies

Telemedicine

Telemedicine companies provide medical services remotely using video conferencing, mobile apps, and other electronic devices. Telemedicine is expected to become a significant technology trend in healthcare delivery in 2023, driven by the COVID-19 pandemic pushing the need for virtual care.

Telemedicine apps give patients easier access to care, lower costs, and more patient satisfaction. Healthcare businesses can partner with the best healthcare app development company to build efficient telemedicine solutions to provide their patients with high-quality, accessible healthcare.

Blockchain

Another breakthrough technology trend in healthcare software in 2023 is blockchain. Data may be recorded securely and openly thanks to blockchain, a decentralized and safe digital ledger. Healthcare app developers can use blockchain technology to increase data security, streamline administrative processes, and protect patient privacy.

One of the key benefits of blockchain technology for the healthcare sector is its ability to securely share sensitive patient data among healthcare providers while ensuring privacy. This results in:

• Improved patient outcomes
• Quicker and more precise diagnoses

To ensure success of their digital venture, healthcare firms need to partner with custom healthcare software development services provider, who can integrate blockchain solutions as per the demands of the business.

Wearables & IoT Devices

Wearables and IoT devices are becoming current trends in healthcare, with more significance in developing healthcare software. Data on physical activity, heart rate, and sleep habits can be gathered and stored via wearables like fitness trackers and smartwatches. Healthcare app developers can then use this information to deliver more individualized and efficient care.

IoT devices, such as connected medical devices and smart home gadgets, can also contribute to healthcare by enabling remote monitoring and managing chronic illnesses. Smart home appliances, for instance, can be used to monitor and treat people with diabetes or cardiovascular disease, offering early warning indications of exacerbations and enabling more prompt interventions.

Healthcare businesses may enhance patient outcomes, lower costs, and spur innovation in their processes by utilizing wearables and IoT devices as the latest technology trend in healthcare for 2023 and beyond.

Other Technology Trends in Healthcare:

Cloud Computing: One of the current trends in the healthcare industry, cloud computing enables firms to store and access data from any location with an internet connection. By doing so, on-premise data storage options can be less expensive while increasing data security and accessibility.

EHR Interoperability: Electronic Health Records (EHRs) have revolutionized the healthcare industry and become a technology trend in healthcare. However, interoperability between various EHR systems has proven to be a significant hurdle. To improve patient care and clinical workflows, a greater emphasis will be placed on creating solutions that enable smooth data interchange between various EHRs in 2023.

Virtual and Augmented Reality: Virtual and augmented reality (VR and AR) are current trends in healthcare that can drastically change the way healthcare is offered by giving patients new methods to engage with their doctors and receive treatment. The possibilities range from computerized simulations of surgical procedures to augmented reality-based medical education.

Predictive Analytics: Predictive analytics, the latest technology trend in healthcare, uses data, statistical algorithms, and machine learning approaches to anticipate upcoming events and trends. Predicting disease outbreaks, identifying high-risk patients, and directing public health policies are all made possible in the healthcare sector because of predictive analytics.

Patient-Generated Health Data: Due to the increasing involvement of patients in making healthcare decisions, there has been a rise in the use of Patient-generated Health Data (PGHD). Any health data created, recorded, or gathered by patients or their caregivers are called PGHD and can include information from wearable technology, smartphone apps, and other sources. As healthcare mobile app development companies work to increase patient involvement and outcomes, PGHD will likely be used more frequently in 2023.

Challenges & Considerations

Despite various current trends in healthcare and many advantages of healthcare software development, there are also several difficulties, including interoperability, security, privacy, and regulatory compliance. To obtain the best results, healthcare mobile app development companies must engage with essential stakeholders and consider these issues when implementing these trends.

Regulations governing healthcare, such as HIPAA (Health Insurance Portability and Accountability Act) and GDPR (General Data Protection Regulation), must be followed by healthcare businesses. This is referred to as regulatory compliance. These restrictions carry heavy financial fines and reputational risks for noncompliance.

Data security and privacy are important issues despite technology trend in healthcare since it is necessary to protect sensitive patient data. Enterprises establish strong data security measures, like encryption and access controls, to avoid unwanted access and breaches.

The difficulty of ensuring that various healthcare systems can easily communicate and exchange information with one another is referred to as a need for interoperability. This is especially crucial for electronic health records (EHRs), where enhanced clinical workflows and interoperability are crucial for patient care.

Therefore, to get the greatest results while implementing new and current trends in healthcare software development, firms must be aware of these difficulties and consult with essential stakeholders. Healthcare businesses can benefit from the many advantages of software development while limiting potential risks and ensuring regulatory compliance by adopting a proactive strategy.

Why Choose ValueCoders For Healthcare Software Development?

There are several reasons why healthcare organizations might choose ValueCoders healthcare mobile app development company, for their healthcare software development needs:

1. Expertise: ValueCoders has extensive experience and expertise in developing healthcare software solutions, from current trends in healthcare like EHRs to telemedicine apps and beyond. Our team of developers is well-versed in the latest technologies and best practices in healthcare software development, ensuring that clients receive high-quality, reliable solutions.
2. Cost-Effective Solutions: ValueCoders offers cost-effective healthcare application development services, helping organizations maximize their budgets while receiving top-quality solutions.
3. Customizable Solutions: ValueCoders works closely with clients to understand their unique requirements and provide custom healthcare software development services that meet their specific needs. This ensures that organizations receive solutions tailored to their particular use cases and workflows.
4. On-Time Delivery: ValueCoders is committed to delivering projects on time, ensuring that clients receive their solutions promptly and can begin realizing the benefits as soon as possible.
5. Data Privacy and Security: With the sensitivity of patient data, ValueCoders is committed to ensuring that all healthcare software solutions are designed with data privacy and security in mind. This includes implementing robust security measures to prevent unauthorized access and breaches.

ValueCoders is a dependable partner for healthcare organizations aiming to enhance their clinical operations and patient care using cutting-edge software.

Conclusion

The adoption of current trends in healthcare technologies for creating software solutions is driving the digital transformation of the healthcare sector. The top healthcare software development trends of 2023 are expected to significantly impact how healthcare is delivered and patient outcomes.

However, healthcare businesses must also consider the difficulties and issues of implementing these trends, including regulatory compliance, data privacy, and security, and a lack of interoperability.

Partnering with the right healthcare software development company could be the first step to ensure a smooth digital transformation and a positive impact on the bottom line in the long run.

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Committed to Serve our Clients Better

At ValueCoders, we are proud to announce that we are expanding with a new office in Dubai. Our goal is to help our clients reach new heights of success and growth in the Middle East and beyond. 

Having an office in Dubai will allow us to provide better customer service to our existing and potential clients in the Middle East. With the help of our local teams, we can offer faster response times, better communication, and a more comprehensive understanding of the regional markets. 

We are excited about providing our clients with a personalized experience that meets their requirements. With our Dubai office, we will have a better understanding of the culture and regulations of the region so that our clients can have peace of mind knowing that they are getting the best possible advice. We will also have access to the latest technologies and tools to help us create innovative solutions for our clients. 

At ValueCoders, we strive to provide the best services possible to our clients. With our new Dubai office, we can do just that!

We’re excited to be expanding into the Middle East

UAE is home to some of the world’s most innovative and technologically advanced companies. With our new office in Dubai, we look forward to continued growth and success in the region. This move will help us better serve our existing clients in the Middle East and beyond while also helping us attract new business opportunities.

We are thrilled to be expanding into the Middle East and are looking forward to the new possibilities it will bring for our clients and us. We can better serve our clients in the Middle East region with the newly launched office. We understand that technology needs differ from region to region, and with this new office, we can provide tailored solutions to meet those needs. Additionally, this will allow us to tap into new markets, and further extend our reach.

Dubai has long been a central business hub and center of trade in the Middle East. With a highly developed infrastructure and a welcoming business environment, it is the ideal place for ValueCoders to set up shop and continue our growth. 

This latest expansion will also bring more job opportunities for talented software developers and other professionals in the IT sector. We always seek motivated individuals passionate about technology and innovation and want to be part of a growing, international company.

Looking Forward to Continued Growth in the UAE

Opening our new office in Dubai marks an important milestone for us, as we can tap into a new market. With our presence in the UAE, we are looking forward to continued growth and success. With a talented pool of veteran professionals, we can offer our UAE-based clients, like Dubai Police and more, the best IT solutions that meet their vision with an innovative solution. With our presence in the region, we can provide software development services that meet the latest trends in the market or that particular region.

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In 2018, the software market revenue was registered at $456.1 billion and now expected to reach $507.2 billion in 2021. Moreover, the COVID outbreak raised the situation of economic downturn and allowed companies to keep a small budget for software solutions, resulting in market contraction in 2020. However, the pandemic teaches companies to address the urgency of digital transformation and make it part of success.

How Vast is The Digital World Ecosystem?

Software Development & Developers Market

The rapid advancement of technology makes this digital world more buzzing and more dynamic. And, software development acts as a fuel that drives our IT services at high speed. Most of the software market is covered by enterprise software that faces a decline in 2020 due to COVID, but soon it resumes its growth in 2021 as per Statista Forecast.

Image Source: Statista.com

As always, the outline of software needs utmost attention to the end-user experience. However, digitalization compels industries to step forward to adopt cloud application services or SaaS (software as a service) to amplify user engagement. Although, the market still opens for other forms of software.

According to the Statista Technology Market Outlook, the central part of worldwide software revenue comes from Enterprise software, which is calculated as over 200 billion U.S. dollars in 2020 and is expected to reach good heights in upcoming years.

The calculation of Evans Data Corporation estimates 26,4 million software developers in the world in 2019 and is expected to touch 28.7 million in 2024. Quite interesting, India will overtake the U.S. as the largest developer population center in 2024.

Industrial Revolutions in a Digitally-enabled Ecosystem

CyberSecurity and cloud-based applications are some of the significant aspects of the industry’s rapid development. Now, it is termed Industry 4.0 and brings drastic changes into our lives, from mechanical manufacturing facilities to cyber-physical systems.

ValueCoders’ software outsourcing services are dedicatedly working to make a more secure digital enterprise. We focus on catering smart connected solutions through IoT (internet of things) and advanced app development.

More connectivity to cyber amplifies the significance of data security. In the case of data handling, telecom operators are one of the few entities to focus on. Also, data is a fundamental element of B2B2C models to sustain the growth of the telecom industry in India. While advancing the digital framework in the telecom ecosystem, one has to include key players such as mobile apps (WhatsApp, Skype), Internet Service Provider (ISP), App developers, Communications Service Providers (CSP), and Device manufacturers. Here, more engagement raises the concerns of data privacy that needed to be expanded beyond the I.T. Act.

Industry 4.0 is widening the digital ecosystem by adding smart solutions into the market and leveraging user experience.

Software requirements after COVID pandemic

COVID 19 pandemic unfolded the urgency of digital transformation to meet software requirements. Companies need to address the new face of this information world. Recent research of IBM Institute for Business Values demonstrates the shifting interest in digital transformation from other core elements such as cost management, customer retention, etc.

Image Source: IBM

59% of companies accelerated digital transformation, and the remaining 66% have finished the previously encountered resistance. Organizations are reshaping their strategies and investing in the latest technologies such as IoT, blockchain, etc., as an active recovery of a pandemic. This paradigm shifts the attention of companies into the following matters:

• Software product engineering emerges as a new software development model to build customer-facing and market-oriented software.
• COVID-19 High-Performance Computing (HPC) Consortium is joined by top companies Amazon, Google, and Microsoft for computational research programs.
• A business partnership is a new success strategy to excel the business ventures and expansions.
• More attention is shifted to hybrid cloud and taking business functions to the cloud.
• Security thefts in Software Engineering

Cybercrime Data analysis

More user engagement makes data security more vulnerable and raises the concerns of cybercrime. 43% of cyber attacks center on small businesses with a worth of $2.2 million a year. All these cybercrimes keep data security at stake. On the surface, cybercrime is conducted in data theft, identity fraud, ransomware attacks, phishing campaigns, copyright infringement, etc. The consequences of these attacks can lead to data breaches.

On average, the cost of a data breach is about 3.86 million U.S. dollars in 2019, and the prominent victim is the healthcare sector with 7.13 million dollars. A complete analysis of statista talks about financial repercussions in business based on region and size of companies.

Image resource: statista.com

Every type of cybercrime leads us to data breaching, and hacking is one of the most common criminal activities on the internet. Hackers exploit a weakness in online communication or digital networks, computer systems and spread malware or gain unauthorized access to data for pursuing their criminal activities. All actions uplift the urgency of a robust defense system to stop cyber attacks.

While discussing data breaching, social media also is a massive center of attraction. However, many users are skeptical about the data being used. Giant social media platform Facebook received 61,262 law enforcement agency requests from the U.S. and 40,300 data requests from India to know about user information. Indirectly, it raises questions over the maximum use of social media.

Web applications vulnerabilities and threats

Misconfiguration in web application code allows hackers to get control over your website. That’s why the security of software development raises concerns to address web applications vulnerabilities and threats. The US government’s National Vulnerability Database (NVD) shares the case studies of cybercrimes of prominent organizations.

According to Tenable’s 2020 Threat Landscape Retrospective Report, about 22 billion data were exposed in data breaches globally in 2020. For more insights on ransom attacks, go through the pick points of Check Point Cyber Security Report 2021

• Increment of 20% in email-based attacks from 2019 to 2020 as compared to web attack vectors.
• In 2019 and 2020, Emotet was the most heavily distributed malware family. It is a botnet responsible for the distribution of Trickbot, Qbot, and more, in some cases resulting in a ransomware attack.
• XMRig is the most attacked cryptominer, whereas Lucifer is a self-propagating, multi-platform malware targeting Linux, IoT devices, and Windows web servers.
• Hiddad or ‘Hidden Ad’ tops the chart of mobile malware global analysis. Through this malware, attackers can easily fetch the details from victims’ mobile by displaying ads. During COVID, the malware disguised itself as a coronavirus information app for Arab speakers.
• In 2020, a team of developers took 280 days to identify a cyber breach that led to the loss of nearly $4 million.

How To Approach Secure Software Development?

Secure Development Lifecycle (SDL)

Cyberattacks and enhanced data security directs companies to think about secure software development. ValueCoders is a leading software IT outsourcing company in India that continuously addresses defects to make secure software and reduce vulnerabilities. Divide software development lifecycle into different segments starting from requirements and move to other steps, designing, implementation, and testing.

The Software Engineering Institute developed the Team Software Process (TSP), allowing software developers and developer teams to create software under a definite process. This process wants companies to focus on:

• Use common sense software engineering practices
• Tackle defects throughout the software product development lifecycle
• Use proper measurement to control the process
• Track the process and address defect prevention as well as removal
• Apply predictive measures for remaining defects

Another significant example demonstrated by Microsoft Security Development Lifecycle (SDL) practices. SDL practices support security assurance and compliance requirements and also reduce the severity of vulnerabilities in software development. As per Microsoft, software developers are suggested to follow various practices:

1. Providing training
2. Define security requirements
3. Define metrics and compliance reporting
4. Perform threat modeling
5. Establish Design requirements
6. Define & use cryptography
7. Use third-party components to manage the security-risk
8. USe approved tools
9. Perform Static Analysis Security Testing (SAST)
10. Perform Dynamic Analysis Security Testing (DAST)
11. Perform Penetration Testing
12. Establish a Standard Incident Response Process

Offshore Software Development Services

Maintaining software security favors offshore software development services for enhanced data security. Costing and quality services are the main focus areas of IT outsourcing services. The market for outsourcing services is enormous. In 2019, the global outsourcing market registered as 92.5 billion U.S. dollars and was expected to reach over USD 98 billion by 2025. It’s gaining popularity because of offering the latest technologies such as cloud computing, blockchain technology and expanding the digital transformation.

About us:

ValueCoders is a top software outsourcing company in India and is making an effort to provide an enhanced digital experience via secure software development. After stepping the foundation stone in the technology era in 2004, this software development company successfully maintained 97% client retention and has delivered 4200+ projects so far.

With business domain knowledge, proven methodologies, and technology expertise of 450+ skilled software professionals, ValueCoders delivers IT outsourcing services worldwide. Build a dedicated development team with the right technology stack at ValueCoders.

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And, Software Development is a significant game-changer of digitization. Every single cutting-edge gadget such as smartphones, personal computers, tablets, or the Internet of things (IoT) is workable because of software. 

Although we are facing the most critical time due to the COVID-19 pandemic, software development is still in trend. The latest software technologies are custom software development, data science, AR/VR, artificial intelligence, and Point of Sale (POS) systems. These all advancements are meant to make our survival more convenient and comfortable.  

According to NASSCOM, Indian software companies are worth Rs. 243.5 billion or US$ 5.7 billion in 1999-2000. But, if you check the worth of companies ten years back, it was about less than Rs. 3 billion. So, it is quite predictable to figure out the success of software development firms.

What is custom software development?

Delivering the desired services to customers is about custom software. It is also known as tailor-made software or bespoke software. When you want to meet the specific needs of your customers, you need to create customized software. It will help an organization to add features and functions to an application in order to improve its user experience. It is also beneficial to meet the distractedly changing business needs. 

In today’s business world, things are getting more challenging for a consumer. By managing complex applications, they feel puzzled and stressed sometimes. If you are in business, your first step should be developing customized software as per your customers’ requirements. Moreover, offering the most customized software solutions allows customers to meet their requirements.

According to research, software companies spend about 27% of their budgets on custom software development. In this estimation, they manage software languages, application software, testing, and qualities related problems. 

Here, don’t get confused with commercial off-the-shelf software (COTS). The available software products in the market are considered COTS. For example, Adobe Reader is a software used to view PDF or sometimes creates it. It is an example of COTS, but if you want to develop software to address the issues of your employees with digital tools, then it comes under customized software development.

Key benefits of custom software development are:

1. It provides high scope and significant future progress.
2. It helps in meeting the demands of competitive business.
3. With custom software, you can get rid of issues related to cybersecurity.
4. Supportive for other software platforms.
5. If it comes to cost, developers can use some open-source tools.

Also Read: Benefits of Custom Software Development Over Off-The-Shelf Software When Working From Home

Reasons to know why companies need custom software development

Serious effort for business progress definitely replicates your strategies and planning. If you want to achieve your business objectives, you must know how to engage your target audience. For that, connecting with the top custom software development companies must be your first step. 

Are you still in a dilemma of opting for tailored-made software to meet your industry’s demands? Let’s have a detailed discussion on the benefits of adding custom software development to your business planning:

1. Secured and agile 

The most significant advantage of custom software applications is their flexibility. Being a boss, you are free to add many functions to your software applications as per your requirements. At the same time, you want to create secured work operations. 

Usually, hackers target off-the-shelf software more likely as compared to bespoke software. By sharing your requirements with custom software developers, you will get more enhanced and secured software applications.

2. Budget-friendly

It might seem like an expensive move by developing customized software applications. It may feel costly to invest in software outsourcing companies at the very initial stage but not in the longer term. You can have an eye on the entire development process and design your software according to your necessities. With the availability of your budget, you can add or delete or modify software features. 

3. Personalized software application

How can you provide your company’s touch to your internal operations? When it comes to increasing your overall productivity, it is beneficial to have internal software. 

With highly responsive custom software development solutions, you can provide an enhanced work environment to your employees and allow them to work comfortably. Moreover, it helps you to promote your business identity.

4. Effective maintenance & support 

By choosing the top custom software companies, you will find the best support to handle technical queries. Through personalized support, you will resolve technical glitches and eradicate security loopholes (if any) in minimum time. 

Moreover, custom software developers are experts in building the desired software applications and offer effective maintenance whenever needed.

5. Better integration with existing systems

Generally, big organizations and companies have to operate different software to organize the operations of various departments. Therefore, they face integration and compatibility issues resulting in degrading efficiency and reducing production. 

Simultaneously, custom software development solutions allow them to handle multiple systems by integrating them into central software applications. Custom software extends the functionality of existing digital tools and develops new similar programs for better workflow.

6. 100% Scalability 

Business growth brings lots of challenges and more complex issues into an organization, which have to be adequately addressed. If you are not prepared for better tomorrow, you will find roadblocks in your success path. 

Therefore, be ready with more advanced tools to accommodate future growth. Software development firm allows business owners to tackle these hurdles with custom software. Indirectly, it provides 100% scalability to your business progress.

7. Optimized business operations & workflow

Being a business entity, just evaluate how efficiently you handle various in-house processes and your business model. If you are facing issues in changing your business processes as per your software packages, you require custom software. 

Make sure to hire a custom software development company to tackle your business requirements and develop the best software accordingly. Doing so will help to optimize your business operations instead of replacing them.

8. Reduced hardware costing

Customer software development solutions are the best answer to reducing unnecessary hardware costing. Developers know how to design software inlining with existing hardware capabilities and eliminate additional hardware costs. The most significant benefit of customized software is that it can be created as per existing business. 

9. Add innovation into your organization

As you know, customized software helps you make the right decision to handle business functionality and technology. By manifesting the right custom software ideas, you can add trendsetting disruptive technologies to your organization. Software development allows you to be creative and organize your business processes as you want them to work.

10. Promotes adaptability 

The most significant thing about any organization is to adopt the changes in the market trends. Keeping the dynamic market changes in mind, you can add valuation to your organization by creating customized software. Through tailored software development, you can integrate these new changes into your existing processes and remain abreast of your competitors. 

Example of top 5 companies using custom software

I think a blurred image of a custom software development service is already created in your mind. Now, you have ideas on how you can boost your company business seamlessly with bespoke software. For more clarification, see how top companies expand their footprints in the business world with a custom software solution:

Amazon: Biggest Online Retail Industry 

Once Amazon was the online retailer of only books, now, it amazingly handles every basic need of a person. From groceries to clothes, the company is continuously fulfilling customers’ demands. 

By understanding customers’ dynamically changing preferences through data collection and analysis, the company provides hassle-free shopping digitally. They use customized software to lead the eCommerce market. Currently, the company is also doing business in selling its technologies.

Netflix: Popular in Video Streaming (Paid)

From nobody to known video streaming application, Netflix is capturing the market of digital videos with fantastic user engagement. After producing the biggest hits (Stranger Things, Jessica Jones, or Extraction), the company is continuously working with custom software development services for innovation in its platform. The technological advancement of the company reflects viewers’ seamless experience with back-end technology, content art customization to increase viewership, and improved suggestions based on watching history. 

McDonald’s: Most Popular Fast Food Company

Using the best custom software ideas, Mcdonald’s became the leader of a fast-food supply chain. It adds large touch screen menus and lets consumers create their own burgers by creating a self-serve kiosk. The company calls it the “Restaurant Experience of the Future.” Besides, you can ask for help or place your order at the counter as well.

Uber: Famous Cab Service Provider

Uber provides effective cab services across the world. Through tailored software development, they cater the seamless experience to drivers as well as riders in their ecosystem. Uber has grown its market in the U.S. by 76% with the help of an intelligent system. By connecting a rider to a nearby driver, the company provides the best experience for hassle-free travel communication.

Telus: Top Telecommunication Company

Using the best technological knowledge, Telus has created a workforce management platform to organize its business processes precisely. The idea was awarded as the best management solution and adopted by many other industries. 

Through custom software development, developers integrate new features to existing applications and develop Telus Business Services and Telus Health Solutions. 

How do you choose the right custom software companies in India?

For the best custom software development solutions, you need to connect with the top software solution company. However, choosing the right platform to share your requirements and receive the most desired outcomes is a complicated task. 

If you are struggling with making the right decision, you should go through the following checklist and select the best custom software development company in India:

1. You should know about your business requirements and how to implement them as workable custom software ideas.
2. Before making your decision, check out the profiles of custom software development firms. Evaluate companies’ services and technical expertise.
3. Seek referrals when you want to hire a top custom software development company. Better communication will help you to get a list of top custom software developers.
4. Keep your budget in your mind while considering any company for bespoke software development. You can make appropriate implements according to your budget.
5. Make a wise decision by digging out complete knowledge of technology that is going to be used in your custom software application. Don’t go for age-old technologies to degrade your business growth.
6. Decide a timeline in your mind and discuss it with your selected custom software developer. It helps you to meet your business objectives.
7. Your foremost priorities of any software application should be its security and robustness. So, don’t compromise with security in any condition.

Top 5 Custom Software Development Companies in India:

1. ValueCoders: Top Custom Software Development Company

ValueCoders provide high-performing and technology-driven software development solutions to more than 40 countries with a pool of talented developers. With them, problems become the solutions, and ideas become a reality. 

Why Choose ValueCoders?

The company has 16+ years of experience in handling more than 4000 projects with a 97% client retention rate.

The team of software developers is best in the following services:

• Custom software development
• Software consulting
• SaaS & software products
• Modernization and migration services

ValueCoders serve 40+ countries and manage technical queries of many industries. 

Some popular clients of the company are Jackson Healthcare, Thomson Reuters, Infosys, Capgemini, and Hellopeter.

2. PixelCrayons: Award-Winning Software Development Firm

PixeclCrayon is India’s most trusted custom software company, catering the secure, robust, and scalable technical-driven solutions worldwide. The creativity of their developers’ minds reflects digital advancement while building any software application.

Why Choose PixelCrayons?

The company has a record of 6800+ happy customers in 38+ countries by delivering highly modernized and robust technological solutions.

Their software developers provide advanced software security through data encryption, high-security plugins, and a secure admin dashboard. 

They provide advanced digital solutions to all major industries that include travel & tourism, healthcare, banking & finance, education & e-learning, and so on.

Their significant areas of expertise are:

• Software product development
• ERP software development
• Custom software development solutions
• Software UI/UX Design

Their list of clients uncovers Puma, Adobe, Tesco, Valkaswegan, John Deere, and Vodafone.

3. TatvaSoft: Best in Solving Complex Business Challenges via Technology

TatvaSoft is best in resolving technological glitches with the most innovative and latest digital tools. The company has topped the list of Top SME Custom Software Development companies in India. 

Why Choose TatvaSoft?

The company has started its journey in 2001 and expanded its workforce of 900+ IT professionals in the US, Canada, UK, Australia, and Development Center in India.

To date, they have completed more than 1800 projects and add many awards and accolades to their business identity.

Their dedication and technological understanding reflect in the following services:

• Custom Software Development
• Web Development
• Dedicated Development Team
• Product Development
• eCommerce Development

Their primary clients are Anglo American, Pepsico, KFC, De Beers Group, Macquarie University, etc.

4. Cyient: Leading Digital Market with Resilience

The company makes its name in the top 20 custom software development companies in India, from building design to managing software solutions. With a pool of 15000 employees in 20 countries, they are ready to meet their clients’ business requirements.

Why Choose Cyient?

The company serves the most advanced technological solutions to crucial industries, including aerospace and defense, energy, industrial & heavy equipment, geospatial, medical technology & healthcare. 

Since 1991, Cyient provides software solutions, digital technology, and advanced analytics capabilities to more than 300 customers.

Consider the company’s profile for the following prime services:

• Augmented Reality / Virtual Reality
• Predictive Maintenance
• Supply Chain Management
• Engineering Application Development
• Analytics & IoT

Their primary clients are Boeing, Pratt & Whitney, Airbus, Alstom tom, Qualcomm, Bombardier, and Philips.

5. Cybage: Leading Software Solution Provider

Using a data-driven model of operational excellence, the company offers the latest product engineering services globally. It is an ISO 27001 certified company and leading the market in global IT and business process outsourcing.

Why Choose Cybage?

The company won Asia’s Best Employer Brand award and the Big Data & Analytics Award for Best Analytics Service in Talent/HR Analytics in 2017.

Their excellent team of 6300 employees serves more than 15 countries across North America, Asia, Europe, and Australia. 

Choose to buy advanced digital solution under the following expertise:

• Offshore Software Development
• Supply Chain Management
• eCommerce Development
• Business Intelligence & Data Science
• Testing & QA

Their primary clients are 123Insight, Marketwire Systems, DealerTrack, DealerTrack, and RateHighway.

Also Read: Top 20 Fantastic Software Ideas in 2021 to Nurture Start-Up Dreams

Final Thoughts:

When you are targeting to achieve success and better workflow management, count every factor centering on your business progress. In such a case, having custom software is the right approach. 

Select the best one from the hub of custom software development companies and meet all your requirements effectively. It would be an advantage to hiring a software developer from ValueCoder, a top software outsourcing company in India, with a 97% client retention rate.

The post A Complete Guide to Know How Custom Software Development Amplifies Company’s Success Graph appeared first on ValueCoders | Unlocking the Power of Technology: Discover the Latest Insights and Trends.

For storing, managing, and organizing crucial business documents, Microsoft SharePoint can be the best choice. This tool makes your business doc secure and protected from deletion and overwriting.

SharePoint includes web-friendly features, robust security infrastructures, and handy product features. To know more about it, read further.

What Is SharePoint?

Microsoft SharePoint is web-based document management & collaboration platform. The SharePoint Framework (SPFx) is extremely flexible; it is primarily utilized to save documents and transfer information across businesses.   

With SharePoint, users can build an intranet or internal internet system which runs like other websites and subsites for specific departments or teams. Along with this centralized, secure space, users can share, access, and edit documents.

Let’s Discuss Your Project

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Things You Can Do With Sharepoint

SharePoint includes a multipurpose set of technologies that are united with Office 365. With SharePoint, small to large corporations can avail benefits. If you want to build the best SharePoint apps, avail of SharePoint app development services from the best SharePoint development company.

SPFx main functions are:

• Stores documents in a more dynamic form than a normal folder system.
• Bring an organization together so that everyone gets significant data relevant to them.

Let’s move further and view the keys functionalities that you can perform using Sharepoint: 

With Sharepoint, Access Your File From Anywhere

In order to access your file from anywhere, you need to upload the file in your SharePoint document library and for doing so in SharePoint Online, click on the Upload option available on the command bar. If you are using Microsoft Edge, you can upload both files and folders. 

Open A Document In A Document Library

Open the documents you need to work with; it will open in the Online Office; if the application is installed on the computer, all you need to click on Edit Document > Edit in <application name>.

At The Same Time Work On The Same Document With Others

In the Office Online, open the document library and thereafter open the document on which you want to work. With this functionality on single documents, multiple users can do editing and other tasks.

Know More: WHY SHOULD YOU USE SHAREPOINT APPLICATION DEVELOPMENT FOR YOUR BUSINESS?

Share Documents

With SharePoint, you can share any document in a very simple manner. To share the document, you need first to click ellipses (…) to open the menu and after that, simply click Share alternative.   

Share Sites

If you have site owner permissions, click the Site or SharePoint option, select the site you require sharing and then tap Share alternative.

Build a Team Site

If you’re utilizing Office 365, you can build a website from the SharePoint homepage as it automatically generates an Office 365 group. If you have an Office 365 group on People or Outlook, you automatically get a SharePoint Online team site.

Add A Library Or List To Your Team Site

In order to add a library or list to SharePoint Online, click + New from the site, and then choose List or Library from the menu.

To append a list or library for SharePoint Server versions, click Settings alternative, and then after that, click Add an app option.

Search For Something

On SharePoint, you can search keywords into the Search box. To do so, you need to enter the keyword in the search box, and then after that, simply click the search icon. 

Content Management 

This feature of SharePoint helps you organize and manage content utilizing lists, libraries, records management, metadata, and retention policies.

Build An Intranet

Using SharePoint you build an intranet site online. The types of sites you can build with Sharepoint are team sites, communication sites, document center, enterprise wiki, and publishing portal.

Availing SharePoint application development service can help you develop leading SharePoint apps.     

Who Employs SharePoint?

SharePoint offers multiple functionalities and is used by a wide range of businesses (startups, SMEs, and larger enterprises) and organizations.

As per Microsoft, 250,000 plus companies use SharePoint, including over 85% of Fortune 500 companies who employ SharePoint Online as the portion of Office 365.

There are numerous giants utilizing SharePoint development services. Some famous company names, which are using the SharePoint framework are  Facebook, Twitter, LinkedIn, Tumblr, Pinterest, etc.

Know More: Everything You Must Know About SharePoint | Why Should Organizations Adopt?

Difference Between SharePoint Online And SharePoint Server

As per Gartner, SharePoint Server is accessible on-premises, and SharePoint Online is a cloud-based multi-tenant contribution related to Microsoft Office 365 subscriptions. Both the products use common codebases but are different programmatically and functionally. 

The SharePoint server or SharePoint On-Premises platform is a locally-hosted platform that the user company has and runs itself. With SharePoint Server, users are liable for managing and maintaining everything privately, including active directory, file storage, and server architecture.

SharePoint Online is a cloud-based service, which users simply access as “a service” rather than owning architectures existing on their premises.

With SharePoint Online, users don’t have to think about servers, architecture, or resources. Additionally, it can be integrated with other Office products like Exchange, Word, and Excel more efficiently.

Some differences in functionality between the SharePoint on-prem or server and SharePoint online are:

Well, if you want to build your dream app with SharePoint, then hire SharePoint developers from the top-level SharePoint development company.

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Get free consultation and let us know your project idea to turn it into an amazing digital product.

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What are Sharepoint’s major alternatives?

The main competitors of SharePoint are: 

• Google Drive 
• Box for Business
• Workzone
• Quip
• Alfresco
• Dropbox for Business
• Samepage
• Citrix ShareFile
• Hightail
• Redbooth
• Igloo

Ending Words:

SharePoint includes multiple functionalities; due to this reason, it is widely used by startups, SMEs, and large enterprises. On numerous browsers such as Microsoft Edge, Chrome, Internet Explorer, and Firefox, Microsoft SharePoint can be used.

If you want to make prolific use of SharePoint, then I will recommend you hire SharePoint developers from a reliable and top-notch SharePoint development company.

The post Things You Need To Know About SharePoint appeared first on ValueCoders | Unlocking the Power of Technology: Discover the Latest Insights and Trends.

What if any unexpected situation comes in front of you? Yes, I am talking about the COVID-19 outbreak of 2020. Currently, it is no worse than a disaster for all people of this world. The government of all countries has taken some serious steps to cure this pandemic disease.

Staying at home is the only solution for all people. It has drastically hit the economies of various countries. As per this blog, we will be discussing the benefits of custom software development in such an epidemic situation.

Here, we will discuss how custom software development can bring you business benefits while working from home. In fact, custom software development from a reliable software development company would be a wise decision rather than off-the-shelf app development.

The off-shelf software only caters to the optimum solution needs of large businesses. It does not fulfill the unique requirements of small as well as large-scale businesses. On the other hand, custom software development increases productivity and runs your business efficiently even in situations like the Covid-19 outbreak today.

Let’s quickly look for the awesome reasons to build custom software rather than off-shelf software solutions for your business in this critical situation:

1) Tailor-made Solution

Off-the-shelf software development is generally done by targeting mass users, limiting the customization your company may specifically require. But when it comes to custom software development, it can meet any specific business requirements. It is basically designed to meet the unique needs and goals of your business. Hence, custom software is the right solution or choice for your business in today’s hours.

2) Instant Bug Fixing

Image Source: Fiverr

With off-the-shelf software, you cannot expect continuous maintenance. In case of error, all you can do is to report the company from where you have purchased this and wait for it to be fixed in the next update. But when you choose custom software, things are different in this case. With the continuous maintenance option, you can easily correct the error as soon as possible by contacting the respective dedicated developer of that software.

3) Custom High-security Features

With the increasing rate of cyber theft in the past few years, companies are more concerned about the security of their valuable data in the systems. To stop hackers from stealing your valuable data, business people continually search for better solutions.

With custom software solutions, decreasing cybercrime becomes an easy job. As the software makes it hard for hackers to know the ins and outs of your system, they cannot attack you either with your personal information. With unique software developed by custom software developers, you can be assured of world-class cybersecurity for your upcoming business.

4) Most Compatible Software Solutions

Compatibility problems affect the overall productivity of a business. Off-the-shelf products do not easily integrate with existing company applications, which could further create a serious problem.

On the other hand, custom software offers an optimal solution for the integration of all commercial programs. Through easy integration with the existing ecosystem, managing and controlling your business becomes easy. In order to get leading software solutions avail custom software development service from the top-rated top custom software development company.

5) Custom Upgrades Facility

Although off-the-shelf software offers constant updates in their applications, they may not provide it as often as you need. When you want faster updates for your application, custom software development is the right solution to choose.

Custom software offers companies the ability to make the changes they want at any desired time. To add new features, you no longer have to wait for the latest versions. This makes custom software preferable for major business organizations.

6) Unlimited Features

When you choose the products available in the market, you will have to accept all the functions that are offered by the particular product, whether they are useful for your business. You have no option to make changes to features.

In case you want different functions from the provided ones, you will have to get another program. But for custom software, you can take advantage of more feature flexibility. Custom Application Development Services allows you to select the specifications you want, as well as edit or make changes to functions during the compilation process.

7) Provides Desired Quality

Image Source: Six Sigma

When it comes to quality, custom software certainly outperforms off-the-shelf products. Because these products are designed for a large unit of users or business people, they can be packed with features your business doesn’t require.

Also, they may not provide you with the quality of the product your business demands. When you need high-quality software, custom software development is the right choice. Together with the desired quality, it can offer you better results and help you improve the overall performance of your business.

8) Maximum Users

Off-the-shelf software solutions only allow a limited number of businesspeople to use the software. In the case of a small business, this might not be a problem, but for large organizations, it becomes a serious problem. With custom software solutions, there is no limit on the number of users. Since the software belongs to you completely, it provides access to as many users as you want.

9) 24*7 Support

Another important reason why leading companies choose custom software development firms to avail of custom software development services is the availability of a wide range of support. With reliable support, running your business smoothly and successfully becomes easy. The experts from the software development team can help you solve all the problems your company may encounter efficiently and quickly.

10) Increase Security

Off-the-shelf software is often created with a focus on ease of use rather than security. This means that there may be some issues when it comes to protecting sensitive data or maintaining the privacy of your customers and employees. With custom development, you can rest easy knowing that a security team has been consulted to ensure that all necessary precautions have been taken in order to keep your business safe from hackers and other threats.

11) Improve Usability

When it comes to off-the-shelf software, you will often find that the interface is not designed with your needs in mind. This means that users can struggle when trying to navigate through different parts of the system or using specific features. Custom development ensures a better end-user experience because each part has been designed with your employees or customers in mind.

12) Customer Success

Off-the-shelf software is often purchased by a customer, occasionally used for the purpose it was intended, and then quickly forgotten about because there are no additional benefits to using the system after installation. Custom development allows you to create lasting relationships that will help ensure that your customers are successful and happy with their software.

When Should You Go For A Custom Software Solution?

Image Source: AnyAlpha

Several times you made changes in your business, and sometimes you also encounter issues in your business process; to manage all these things in a good manner, you need leading Custom software solutions. Here I have mentioned a few pointers which you can consider for adopting custom software solutions.

Opening Multiple Locations: If you plan to open multiple locations, then a custom software solution can be developed for each store location. This will allow employees at the different stores to have access only to what they need without compromising security or network speeds.

Workflows Aren’t Efficient: If your current workflows aren’t efficient, then a custom software solution can be developed to take into consideration how you currently operate. This will save time and money in the long run by helping employees get more done each day because their tasks have been streamlined for them with this new system.

For Data Security: Data security is very important when working from home or remotely. If your data isn’t secure, then a custom software solution can be developed to offer security measures that will protect you and your employees from hackers trying to access company information.

Low Customer Satisfaction Rates: If your customer satisfaction rates are low, then a custom software solution can be developed to better benefit customers and increase their overall happiness with the work that you do. This will lead to greater sales due to positive word-of-mouth advertising as well as increased referrals from happy clients.

These were some important highlights which help you in taking an action plan for a custom software solution.

Conclusion

So we have seen a lot of reasons for choosing custom software development over off-the-shelf development, especially when you work from home. It will be more beneficial in the long run as the world is moving to a complete digitalization era. Hence, choosing custom software development in this competitive and critical edge is the only key to success.

Well, to fulfill all your custom needs related to your project development, you can avail of custom software development services from the leading custom software development companies in India (ValueCoders).

The post Benefits of Custom Software Development Over Off-The-Shelf Software When Working From Home appeared first on ValueCoders | Unlocking the Power of Technology: Discover the Latest Insights and Trends.

This especially applies to the usage of technology in an enterprise, where leaders desire to leverage software technology to bring improvements in efficiency and performance to their businesses.

Say, an enterprise using conventional centralised technologies to record and maintain data is suddenly met by a demand to use new technology such as blockchain for the same.

In such a case, the need for using new technology will be more out of the fear of lagging behind in the latest technology trends, rather than out of necessity.

There are several problems such as these that create challenges in Enterprise software development. The need for seamlessly integrated enterprise software is gradually increasing as enterprises delve deeper into understanding demands at a deeper level and attempt to solve problems rarely thought about.

There is a good reason why the enterprise software industry is expected to grow by up to 10.5% in 2020, and why it is the fastest-growing segment in the entire IT industry. With new advancements and emerging technologies coming into play, enterprises have begun to realize that human capital simply isn’t enough. 

If you need evidence for the same, have a look at the chart below.

Forrester Research forecasts show that Global businesses and Governments are investing heavily in Enterprise-grade Software, Tech Consulting, and Systems Integration services. Source: Global Tech Market Outlook For 2020 To 2021

The above charts show investments in tech goods and services between the years 2016- 2021. Notice something here? Investments in Enterprise Software, Tech Consulting & Systems Integration Services have increased at the highest rates since 2018. Predictions from Forrester Research echo my points- businesses are increasingly relying on technology consulting and software to enhance business processes and adapt to the modern information era.

To solve the new-age issues, businesses require enterprise systems that get routine work done in an instant, help allocate work and allot time to objectives that meet the goal of profitability and sustainability. 

Enterprise software development in the present day is about finding problems nobody thought of before, and creating solutions using technologies and its integrations that remove all boundaries and seamlessly integrate all functions across an enterprise.

But just like one challenge I mentioned above, there are several other challenges on the road to enterprise software development that most CIOs fail to see, or just decide to hit the iceberg despite having seen it from miles ahead.

1. Creating an immersive Enterprise App without affecting Costs & ROI

(The above video shows how Boeing is using AR to create an immersive software application for technician training)

Consumer Apps of the modern-day are all about enticing customers into using apps with immersive UI that deliver experiences users simply wouldn’t want to get out of. A right swipe on a smartphone app is just a navigation gesture used to enable specific functions. But it means so much more than that on an app like Tinder.

While enterprise apps don’t need such levels of form-over-function approach as in the case of consumer-oriented apps, there is a growing demand for features that make the task of using such apps engaging. 

Navigating through an off-the-shelf ATS (Applicant Tracking Software) software that gives you bland notifications on suitable job candidates can get boring after a time. But adding a human element to it, say with a hyperactive AI bot that provides such information in a conversational way changes the entire experience.

But can immersive experiences with enterprise software justify the costs potentially incurred to add such features?

Not in the short term, but definitely in the longer run. A one-time focus on creating a seamlessly integrated design of the entire systems ecosystem adds to the enterprise value. 

If an employee is used to operating one enterprise system software (which has an immersive, engaging UX) for their job-related purposes, they’ll find it much easier to adapt to other enterprise software that’s part of the organization ecosystem.

This fact is already proven in the realm of consumer software and apps. If you use an Apple iPhone, you’ll likely find it easier to navigate through other Apple devices such as an iPad or a MacBook. If you use an office application suite such as the Google G Suite or Microsoft Office 365, then you’d know how easy it is to recognize, understand and navigate through their individual apps owing to the familiarity in them. 

This practice of making users addicted to an ecosystem works so well that a Forrester report estimated revenue generation of  $100 for every $1 spent on UX in consumer-focused apps!

But enterprise software is an entirely different ball game where each feature, each addition is meant to enhance productivity and increase efficiency rather than entice its users, i.e., those working for the enterprise.

That is why things are a bit rough if you consider increasing costs to build immersive experiences in enterprise software. Increasing costs is only justified if a new design approach helps in achieving certain objectives. 

There are some great examples of enterprises that have managed to do this.

Take for instance, how Boeing achieved a 40 percent increase in productivity by using AR for providing electrical installation training to employees. Or how Walmart increased its employee retention rates by 10% after introducing VR-powered employee training programs.

By leveraging AR and VR into their employee training software ecosystem, these two companies (Boeing & Walmart) highlight how investing in an immersive enterprise application using emerging technologies can justify costs involved and result in significant ROI at the same time.

2. Understanding the long-run approach

Surveys such as those done by Apple’s subsidiary FileMaker suggest that enterprises are witnessing increased ROI from their custom apps

As I have mentioned before, enterprise systems and software are particularly meant to enhance organizational productivity and performance across the entire internal business environment. But obviously, it is an expense, and expenses need to be recovered sooner or later.

In the case of Enterprise Software, getting any ROI out of the project is only possible in the long-term. That’s because their benefits do not take shape immediately after deployment. They take time. In fact, an enterprise may require further investments to train employees on using the new software, especially if the software is integrated across multiple departments of the organization.

But if the market trends are any indication, most enterprise software is likely to generate decent ROI in the longer run. Market research by FileMaker (a subsidiary of Apple) in the years 2016 and 2018 revealed an interesting trend. 

In its research in the year 2016, over 60 percent of enterprises reported positive ROI after investing in custom enterprise software. 

In 2018, the percentage increased to 76% with enterprises reporting significant ROI after integrating custom software across their business line. 

The fact that enterprises are able to justify their expenses on custom enterprise software is surprising given the fact that custom software development is generally an expensive affair as compared to using off-the-shelf software.

This brings me to define another challenge in Enterprise Software Development, which is…

3. Choosing between Custom Enterprise Software Vs. Off-the-Shelf Software

Information Source: Spiceworks State of IT report- 2020

Off-the-shelf software is a highly convenient solution for CIOs aiming to solve a few inefficiencies and integrate a few functions using enterprise software. However, they come with their own share of drawbacks too.

1. Firstly, off-the-shelf software may come with a lot of redundant features that may never be used by an organization. 
2. Second, a business using off-the-shelf enterprise software has to formulate its functions centered around the software instead of the other way around.

I have seen some enterprises fall victim to the second drawback I just mentioned. One firm I worked with had to design their entire employee attendance policies around an off-the-shelf attendance tracking software! That happened only because they weren’t able to customize the software configuration as per their policies.

Sure, some off-the-shelf enterprise software comes with heavy customization capabilities, but those only add up to the size they take and consequently require more hardware resources to perform at the optimum level.

On the other hand, there are certain advantages when using custom enterprise software:

1. With custom enterprise software, an organization can add and deploy only the required features and build the enterprise system centered around the internal business environment.
2. A custom enterprise software’s biggest advantage I feel is in terms of security. Every popular off-the-shelf enterprise software is used by hundreds of companies. So if a security vulnerability is exploited on one installation, it could potentially put all enterprise systems using the software at risk! 

A custom enterprise software could be as unique as it gets, gives the enterprise a solid security foundation while keeping it secure from contagious security attacks as they happen with off-the-shelf software.

The main drawbacks of custom enterprise systems come in the form of the costs involved in software development, as well as the time it takes to build, test and deploy the final product.

Regardless of whether you choose to work with an off-the-shelf application or a custom enterprise software, there is one challenge in development that requires support outside the IT realm.

4. Synchronization between Operational Units and IT

FileMaker’s State of the Custom App report suggests findings that 46% of businesses are looking forward to integrate other systems with their enterprise software

In research conducted by Harvard Business Review in 2014, it was discovered that the major challenge preventing businesses from pushing for innovative enterprise software was a lack of integration/partnership between operational units and the IT Department. The other major challenges faced by enterprises were related to the lack of skilled IT Resources and project budget constraints.

One point I have stressed upon from the start of this article is the need for enterprise software to be integrated across all functions of the business. Well, that starts with the task of maintaining harmony among the IT and operational units.

Successful enterprise software is one that seamlessly integrates all functions of an enterprise into a single medium of access. No business would prefer working with multiple software each for covering different functions such as Recruitment, Accounting, Payroll, among others.

This is another case where a CIO faces a challenge between choosing an off-the-shelf or custom enterprise software. An off-the-shelf application can never have the potential of completely seamless integration as is possible through a custom one.

Let’s take an example here. Say, an ATS application used by an enterprise tracks recruitment data perfectly. It provides information about potential job candidates, helps in screening resumes, and lets an HR in om important information about future employees. 

But if this ATS isn’t integrated with the main HRM software, then all data about the prospective job candidates would have to be re-written into another software! A seamlessly integrated custom enterprise software saves an HR executive from this hassle. 

In a similar pattern, enterprise systems can bring a whole new level of efficiency and productivity when perfectly integrated with both IT and non-IT functions of an organization.

5. Setting the right Priorities

One of the greatest challenges in enterprise software development comes well before the start of a project. Setting the right priorities for enterprise software goes a long way in determining the potential of the end product.

This is where the role of a CIO and other IT leaders becomes so crucial. Technically, it is the CIO’s role to manage the whole cycle of enterprise software development. However, who he/she reports to can have a huge role to play in how the project takes shape.

If the IT leader or the CIO reports to the CFO, the priorities might lie in reducing costs, enhancing the financial output or ROI out of the project, etc. If the CIO reports directly to the CEO, the priorities might be of a much broader scope, which is necessary considering how an enterprise software affects an organization’s functioning.

Consider this analogy: the Enterprise software is a movie. The CIO is the producer of this movie, and the one whom he reports to is the director and holds the responsibility to direct this project towards an objective. 

The higher the position of the reporting manager of the CIO, the greater the chances are of it being wider in terms of scope and implementation. If the reporting manager has a specific position in the company, say as I mentioned in the above example about a CFO- then chances are that the project would be headed towards fulfilling an objective fit for the overseer’s functional role. 

In a Deloitte Insights survey of over 500 CIOs in 2018, it was found that 46 percent of enterprise CIOs report to the highest levels of their company (CEO). This is an upward trend when compared with data two years prior. In 2017, only 45 percent of CIOs reported directly to the CEO, whereas the percentage was even low at 41 percent in 2016.

While the data at hand suggests an increasing trend of CIOs reporting to the highest levels of authority, this should be moving closer to becoming a norm in 2020 as enterprise software development is more significant in value than ever before.

Answers to some general questions about Enterprise Software Development

1. What are the examples of Enterprise Software?

Enterprise systems are mainly classified into three different types of software applications:

• Enterprise Resources Planning Systems (ERP)
• Enterprise Planning Systems
• Customer Relationship Management Software

Enterprise Resources Planning Systems (ERP)

ERP software refers to software applications that help manage all the core activities of an enterprise. ERP software is essential for the integration of multiple functions of a business and makes processes seamless and efficient. All types of Payroll Software, HR Management Software, Inventory management software, Accounting Software, etc., come in this category.

Enterprise Planning Systems 

Enterprise planning systems differ from ERP software in the sense that they help in building strategic plans with data of both internal and external business environments. Examples of Enterprise Planning Systems software are Business Intelligence tools, Project management software and Performance measurement/evaluation software available in the market.

Customer Relationship Management Software (CRM)

Unlike the other two types of enterprise software, CRM software deals with the management of customers of an enterprise. This is why it does not involve the aspects of integration with the business environment, and does not affect the functioning of an enterprise in a direct way as the other two. CRM software includes applications used to take feedback from customers, keep track of customer data, analyze and use the same for their retention, among other customer-oriented use cases.

2. Should I outsource Enterprise Software Development to another firm, or should I get it done in-house?

TL;DR: Outsourcing software development is the best option if your core business isn’t associated with the technology sector. Developing software in-house is best if you already have a skilled workforce or human capital capable of handling such a project.

But if you’re in for a verbose answer, here goes:

In 11 years of my career as a Technology expert and Consultant, I have worked on both in-house and outsourcing software development projects. 

From that experience, I can tell you what you’re getting into in both these cases.

Should you opt to start with an in-house enterprise software development project, there would be a huge load of things to look over as an IT leader.

• You will need to hire skilled developers and Project managers to work through the entire project.
• An investment in hardware resources to develop the software will be necessary. These won’t be huge problems if your enterprise is already into the High Tech industry but would be incredibly worrisome for a company not associated with the IT industry in any way.
• Since you’re creating an entirely new in-house team for the project, there will be no clear way to define or analyze the cumulative experience of your team in handling the problems at hand.
• On the positive side, you will have more control over an in-house team and can regulate the pace of the project as necessary.
• Communication with teams will be effortless with an in-house development team.

On the other hand, outsourcing your project too comes with its own share of pros and cons:

• The best thing about outsourcing software development is that your project will be at the hands of people who know their job well. A software development firm’s experience plays a huge role in maintaining a smooth project workflow. 
• An enterprise wouldn’t have to waste its time hiring new people and investing in hardware resources.
• Yes, communication with the remote development teams will be a tough affair. 
• When outsourcing software development, you get to choose the type of developers you want for your team. 
• Not all business leaders are supposed to be fully aware of the details about new, existing and emerging technologies. Outsourcing a software project lets you coordinate with experienced project managers who can fill any knowledge gaps, thereby saving your project from potential roadblocks.

If you’re budget conscious, then an in-house project could perhaps save some of your expenses in software development at the cost of taking away the business’ focus from its core expertise. Outsourcing, while being costlier also lets your enterprise focus on its core expertise while letting a software development firm take the workload of the project.

3. How do you think Enterprise Software will evolve?

Today, data and emerging technologies such as AI and IoT are taking center stage as the drivers of innovation. Businesses and governments are now understanding the need to collect data, analyze and leverage it for meaningful purposes. 

As it is already highlighted in the Forrester Global tech purchases report of years 2016-2021 that I shared above, enterprises are investing huge amounts of monetary resources to understand the modern technologies. They’re trying to find use cases that create change and bring efficiency in tasks where we never thought of an alternative.

I believe the evolution of enterprise software will be led by data and the pursuit of getting the data right. Data is the crucial component to some of the most important technologies we’re surrounded by today. It is the fuel that drives the future.

If you ask me for the ideal path where you would want to take your enterprise software- my advice would be to make it as data-oriented as possible. As far as finding opportunities for business or profitability is concerned, my bet would always be on data-oriented approaches to find the right solutions 99 times out of 100!

Over To You

The total IT spending on enterprise software will reach $503 US Dollars by the end of this year. Considering that it’s the fastest-growing segment in the IT industry, enterprises need to gear up and see how they can leverage enterprise software by addressing challenges such as those I just mentioned.

Most of the enterprise clients I have worked with throughout my career have faced these challenges. I’ll honestly tell you, some of these, even select Fortune 1000 firms were on a completely wrong track with their goals for enterprise software development! 

This is why while handling my duties at ValueCoders, I work with due consideration to ensure none of the enterprise leaders we deal with run-up into any of these challenges. In fact, giving a clear view of potential roadblocks in the development cycle is a crucial part of the project onboarding process for our custom software development services.

Let’s summarize this post. We understood how immersive enterprise software can actually justify higher development costs (when using select technologies that make something easier). I explained how investment in enterprise applications can only deliver significant ROI in the long run.

Additionally, we saw why the lack of integration between IT and non-IT functions in enterprise software development is such a challenge. Finally, the last challenge points to the fact that the direction of an enterprise software project depends on the one overseeing the CIO, the greater their position and guidance, the higher the scope for the final product.

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