How Custom Software Can Increase Your Profit

The upfront price tag associated with custom software solutions can be pretty jarring. Building a custom software solution can range well into the tens of thousands, and this financial hit can be why companies “settle” with an off-the-shelf solution. However, while the initial costs of custom software solutions are high, do not be put off by the price tag and do not settle. Investing in custom software has long-term benefits that can help you increase your overall profit.

Off-The-Shelf Vs. Custom Solutions

From hiring more employees to even moving business locations, a business may also come to a point within its lifecycle where its software solutions need to be upgraded. To start this upgrade process, companies typically look at off-the-shelf solutions first. These off-the-shelf solutions are pre-created programs or applications that can work immediately and for less money than a custom solution.

However, these quick and less expensive solutions have their own barriers that may make them more problematic than helpful. For example, some companies can have complex structures that store-bought solutions can’t scale with them, or these options are packed with so many features that will ultimately complicate the process. Add on security issues, training, and integration hiccups, and very soon, custom solution’s positives quickly outweigh their high price tag.

Make Money With Custom Software

Once you have decided to build custom software, there are a variety of ways you can analyze how this new software can help you save money and grow your business. Below are five ways custom software will help you increase your profit.

Subscriptions/Ads

The most obvious way custom software can increase profit is through the paid subscription model. The most common app revenue model, subscription-based mobile apps, including Netflix, Spotify, Dropbox, etc. have gained huge popularity in the last couple of years.

Another common revenue model for custom solutions is through hosting paid ads throughout your application. The app is free for users but companies pay to display their business’ ads to the users of your app.

Selling It Within Your Industry and Beyond

If you are a business that developed its own software and holds the program’s rights, you may be able to license it and sell it to other organizations. For example, suppose your custom software can solve an industry problem and help others reduce specific pain points. In that case, you have a marketable program that others will be interested in. Not only can you market your app and sell it within your industry, but depending on your custom solutions functionality, you may be able to tweak the program so it can fit into a multitude of industries – diversifying your product and opening you to new market possibilities.

Increase Customer Satisfaction Rates

A reputation for bad customer service can put a severe hit on your profitability. Customers expect good service and results, and to keep your customers satisfied and happy with your product, you must provide this service. A custom solution can help make your customer service portal more efficient and improve the customer service journey. From enhancing communication times to reducing errors, custom software can help eliminate any hiccups within your customer service chain. A happy customer is more likely to be a repeat customer, which will help your overall profitability.

Reduction in Human Error

In many cases, human error can result in a serious loss of revenue. However, with a custom piece of software designed specifically for your processes, the human error risks are significantly mitigated. Utilizing your custom software to perform certain tasks saves money that would have otherwise been spent on employee salaries to perform those same tasks. Additionally, by decreasing the risk of error, a custom solution can keep profit margins stable and even help increase profit margins over the life of its use.

Increase Efficiencies Within the Workflow

Custom software solutions are tailored to meet your needs, which can be an incredible bonus to your workflow. Customizations can be easier to adopt by the team and increase your business flow. Without adapting and retraining your team on an out-of-box process, these custom solutions can work with you and your current strategy to help increase productivity and long-term profit.

Work With Flint Hills Group For Your Custom Software Solution

If you need a competitive advantage and want to solve a market problem smartly, look to a custom solution. Building a custom solution is a way to guide your company to maximize profits in the long run while also minimizing daily operational costs. When you are ready to enlist the support of professionals, reach out to our team at Flint Hills Group. With dozens of projects under our belt, from custom mobile apps to machine learning and AI applications, we are ready to create the perfect solution for your business.

We offer a long list of custom software solutions for your unique needs. With our US-based software developers with over 20-30 years of individual expertise, there isn’t a project we can’t do. So don’t just settle for an off-the-shelf solution for your business. Instead, reach out to our team at FHG and let us build you something that will grow, scale, and fit your business.