Software solutions: buy and adapt an existing or create a new, tailored one?2020 07 27
Because of recent events, the dynamics of the country’s businesses have changed. Most of them operate faster and more expeditiously, with plans and budgets not going on for several years, but only a few months ahead. This also applies to the planning of software solutions. From the business purchasing such services, there is an increasing need for software solutions to be implemented as efficiently and as quickly as possible, says Irmantas Bankauskas, Head of Sales at Baltic Amadeus, a company that creates unique IT solutions and advises on digitalization.
Plans for just a few months ahead
“In fact, there is no single and correct answer. The path to go depends on the size of the company, nature of the business, business needs, strategic objectives and directions. However, we are hearing the expectation that the decisions being implemented need to be taken quickly, even more so – they need to start and act quickly.
Traditionally, the IT solution selling cycle is quite long. Big projects and big investments in these uncertain times is not the way that companies choose today. “Even large companies begin to split their budgets in smaller units and plan in shorter cycles. Their departments become as if small internal start-ups and activities are cyclical. They want Agile, flexibility, ability to react quickly, to change and adapt.”
The global trend – to buy and adapt
Buying and adapting software in today’s world is a very strong trend. However, whether or not to choose this path depends to a large extent on the nature of the company, on the complexity of the business and on many other things.
“If it is a small company that is flexible and can easily change its business processes, it is easy to adapt to those changes, then we advise to choose an existing solution and adapt it to your needs. There are many amazing software solutions in the market that are not expensive, their personal application does not require significant investment, and the result created not only exceeds expectations, but also quickly pays off”, – says I. Bankauskas.
Western European IT companies are particularly advanced in adapting software solutions. A large proportion of them already have their own products, or have their own “frames”, which can easily be applied to companies of any sector and of any size.
Benefits of purchasing and adapting software:
• Quick solution and customization.
• You’ll get a lot of existing software solutions available on the market.
• Less likely to be error-free – the solutions offered on the market are already in use and really work.
• Rational price.
• Potentially faster payback.
• Without clarifying the value, the solution and its functionality can be developed in the different direction than the company needs.
• Without good technological partners, you can not exactly figure out the architecture of the solution, technological possibilities.
• Users will have to adapt to the system and its functionality.
• It will take longer to enter and train people, because the system will not work according to the habits that have already been developed.
• There is a chance that the first year will be more complicated, the system may crash until it fully adapts to business processes.
It is important to pre-define the process and the desired result
According to I. Bankauskas, when purchasing and adapting software, it is very important to choose the right solution for business needs. “We see that one common business mistake is that from the outset it is not fully understood and fully aware of the value the solution sought and can actually create for the company. Finding a reliable technological partner can help you find the right way. Investment in consultation will allow not only to save time, but also to ensure that the solution that best suits business needs is chosen”, – says I. Bankauskas
For innovators – solutions from scratch
“Custom tailored software solutions are chosen by companies that seek to be the innovators on the market and want to change, improve or substantially solve the situation on it. Such solutions require investment and time and pay off over a longer period of time,” says Baltic Amadeus specialist.
Their individual decisions are often taken for years and not by the smallest players in the market who can afford more investment. They develop such solutions together with technological partners. “In many cases, such enterprises have very specific business processes, the replacement of which is quite difficult. In this case, they need unique solutions to adapt their processes,” commented I.Bankauskas.
Benefits of developing your software:
• Helps you face specific business challenges.
• The software meets the needs of a particular company, organizational culture, software consumption habits and other important internal factors.
• More opportunities to make changes in the future, to introduce additional features, etc.
• In the development process, it is possible to involve interested team members, listen to their opinions and expectations.
• There is an opportunity to create an innovative solution and to multiplicate it, to sell it to other interested parties.
• Requires more investment.
• Many interested parties, with different views, sometimes it is difficult to find a compromise.
• The system is being developed for a year or more. There is a risk that stakeholders who will have a cardinal view may change in the meantime. There is a risk of lost the original idea.
• You have to know the customer very well, so that you can hear and aggregate the ideas of all the interested parties in order to ensure the best solution.
How do cloud services help to handle a seasonal peak?2023 11 07
Learn how the public cloud helps manage and optimise trading systems during the seasonal peak.More
Rising cyber threats: a close look at global and Baltic cyber security situation2023 10 23
Dive into Baltic and global cybersecurity, uncovering causes of cyberattacks and key threats for organisations.More
Why should your financial institution consider SEPA integration via CENTROlink?2023 10 12
Learn more about the CENTROlink payment system, its key advantages, and how you can access it hassle-free.More