Given the influence of Information Technology on businesses in the tech-savvy century that we live in today, it cannot be denied that the use of right system software can either make or break the company. If you want your company to not just survive the technology wave, but thrive and grow, it is time to pay a little more attention to the software that your business is using.
The software that will profit your business the most and ensure smooth business operations depends on a number of factors like your business model, requirements, scale, budget, etc. Broadly speaking, there are two options available– Third Party Tools and In-Built Solutions. We, at Cogoport,provide the best ocean shipping solutions including Third party Tools and In-Built Solutions.
Let’s understand briefly what each of these entail.
What are Third Party Tools?
Also known as Off-the-shelf solutions, these refer to the software that is created by a company to be used on an existing program on a particular system developed by another company.
Let’s understand this with an example of a restaurant business- A regular restaurant would require a software that would allow it to keep track of its grocery purchases, orders received and served, etc. So, they can resort to purchasing a Third-party tool, from our company, which allows them to record all these comprehensively on their system.
What are In-Built Solutions?
An In-built solution is a software that a business gets developed through a software service provider or a software developer on their own terms, in accordance with the particular requirements of their business. Also known as Customized Software Application, it is a way for the business to ensure that they are using a software that has been specifically tailored for them. If you need efficient In-Built solutions at your disposal, Cogoportis the right digital shipping platform for you.
In the previous example of the restaurant, if the restaurant also provides online order booking and delivery, then they will need a software system that allows them to record those in addition to other things. If they cannot find a third-party tool that provides this service, they can have their own software developed that allows them to do this.
How to figure out which of these is the right solution for your business?
The first step to making any decision is gathering as much information as possible. The same goes for choosing between Third-Party tools and In-Built solutions. You begin with figuring out what you need done with that software and then you move on to the next part where you find the software that gets it all done in a cost-effective manner. To make your job easier, we help you choose the right solution and make efficient business decisions.
Here are some guidelines to we follow to decide which kind of software is more beneficial under which circumstances:
Situations in which you should go for a Third-Party Tool –
· Budget Constraint– It is no surprise that getting an off-the-shelf software costs way less than developing your own software. So, if you are on a limited budget, a financially prudent choice would be to find an in-built software that solves most of your needs.
· Limited Time– Even if you have the financial resources to build your own software, it will still take a considerable period of time, ranging from a couple of months to a couple of years. If you do not have that kind of time to invest, you can go for an In-built Software temporarily while you work on your customized software.
· Technology does not translate to competitive advantage– The kind of software you require and how sophisticated it needs to be, depends on your business model. It makes no sense for a retail furniture store, for instance, to have state-of-the-art system software, as it won’t necessarily convert to more sales or reduced costs, or in any other way give you a competitive edge in the market. Also, customers couldn’t care less about the kind of software you use, unless it means better quality services for them. So, if you are not in the kind of business where advanced technology directly translates into revenue for the business, getting your own software built is an extravaganza you should steer clear of. Get an in-built software and invest the remaining resources (time and money) in something that profits you directly. Withus, you will never face the problem of misguided business decisions and always get the most profitable services.
Situations in which you should go for an In-Built Software Solution –
· Yours is a unique business model –If your business is modelled on an out-of-the-box idea, then it is unlikely that you will find any Third-party tool that meets a lot of your needs. This is because the third-party tools are made on a rather general note and they mostly only serve the very basic needs which are common to a majority of the businesses in the sector. And since, your business model is unique, it necessitates the use of an equally unique and customized in-built software.
· Available third-party tools are not compatible with your other programs– Chances are you are using a number of programs to run your business. And therefore, for smooth functioning you need them all to be compatible with each other. But certain third-party tools are not compatible to external programs. So, instead of changing all other programs to suit your third-party tool, it makes more sense for you to get your own software customized that is perfectly in sync with your all other programs.
· Targeting specificities– With an in-built solution, you get absolute control over the software you are using. So, if you are willing to be pro-active about managing your business in, an in-built software would allow you to work on specific targets and request quick updates concerning the areas you would like to focus more on. This is something which is not an option with the Third-party tools.
Here, at Cogoport, we incorporate ground breaking technology which helps us in being a leader in our industry.