What's the Cost of Not Investing in Software Development? Discover the Impact with These Real-Life Examples!

Uncover the Impact: Cost of Skipping Software Development
Abhishek Founder & CFO cisin.com
In the world of custom software development, our currency is not just in code, but in the commitment to craft solutions that transcend expectations. We believe that financial success is not measured solely in profits, but in the value we bring to our clients through innovation, reliability, and a relentless pursuit of excellence.


Contact us anytime to know moreAbhishek P., Founder & CFO CISIN

 

We all interact with software every day. Software products can be anything from a tool that allows users to hold online meetings and video conferences (think Zoom) to a platform for businesses that manage employee expenses.

Take a look at the process of developing software products.


Software Product Definition - Platform Vs. Product

Software Product Definition - Platform Vs. Product

 

For something to be considered software instead of a "platform," the user must be the one interacting most with the software to solve a particular problem or to derive value.

Platforms, on the contrary, facilitate third-party interaction, such as a food delivery app that allows users to place orders at restaurants from their mobile applications.

These two types of software are generic and customized. There are two main types of software products: "customized" software products and "generic" software products.

Generic Software Product: is a product that was developed to cater to a wide range of users. These products can be purchased "off-the-shelf" and have a more generic set of features and functionality.

Customized Software Product: A customized product has been developed for a particular client or audience.

A software product created for a team within an organization could be an example.


What Are The Main Components Of Software Products?

What Are The Main Components Of Software Products?

 

A great value proposition is the foundation of a successful software product. It must then be carefully designed and thoroughly tested to ensure value is delivered to the user.

Software products are made up of:

  1. Design of product: design of the product is the aesthetics and interface that users interact with.
  2. Features and functionality: Features are the features that allow users to interact with software products.
  3. Content: The term "content" describes the data and information found in software solutions.

Why is Software Product Development Important?

Why is Software Product Development Important?

 


Business Process Improvement

Each company has its own internal procedures and business strategy. It is not easy to change these procedures to make them fit an application or software product.

Software product development allows the company to optimize its business processes and work smoothly with internal processes according to their business requirements.


Offers Competitive Advantage

It is important to know what works and what does not work in the market before you develop a custom software application.

Your business should have unique features that are different. A solution should be used by the business that gives it a competitive edge. Businesses can create products with unique features, processes, and ideas that give them an edge over their competitors by developing software product development.


Customized Solution

Some things may work well for one business but not for another. By designing a software solution specifically for your business, you can ensure that it will handle unique procedures and activities.

Some ready-made softwares is available in large quantities, but they may not support your business completely.

It is used by many businesses, but it's more efficient to create software products based on your specific business needs.

You will find that this has more benefits than you ever imagined. Custom software development companies can provide many benefits, including improved process efficiency, a focused solution, quicker results, and more.

Let's now understand what is required to create a Software Product Development Plan.


How to Start a Product Development Plan

How to Start a Product Development Plan

 


Imagine a product

It all starts with the product vision. This can help bring all of your efforts together with one common goal. Next, the product vision is presented.

This includes who the product is for and what it does for them. It lays out certain rules for future development.

Once the product vision and mission statement are established, the primary goals of the product can be defined. They may seem hazy initially, like determining the product-market fit.

But they can quickly become quantitative KPIs and OKRs. These quantitative goals help determine which features, enhancements, processes, and capabilities are required to achieve them.


Create a Road Map

Before you can execute the plan, you must have a blueprint. The software development team can create a roadmap after analyzing and validating the customer's requirements.

Plan the schedule according to the defined milestones and dates. The focus should be placed on the delivery of value, responding to product goals, and performance against key metrics rather than dates.


Implementing the Roadmap for Maximum Impact

After everyone agrees on the product strategy, it's time to implement it. Implementation teams can create timetables, break down major topics into Sprints, and set up product iterations.

Customer surveys, sales staff, and support provide valuable input. They can help identify new opportunities, point out flaws, and highlight areas that need to be improved.

The cycle continues, with constant revisions to the product roadmap and grooming of the backlog, to make sure that each software development cycle is used to its best advantage.

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Software Product Development Processes

Software Product Development Processes

 


Stage 1.

The first step of the software development life cycle is to discover product ideas. The beginning of everything begins with an amazing concept! To implement this idea, it must be carefully considered.

Planning is the first and most crucial phase of software product development. This includes determining project scope, defining how the product will meet business objectives, identifying cost challenges, assessing resource availability, and setting timetables.

If you are going to create a new software product, it must meet the market's needs. This means that it must be able to describe the difference it makes in the marketplace or the lives of customers.

Some products are developed based on specific customer research and analysis. You can use, evaluate, and utilize related software products before deciding to develop your own.

The ideation stage is only the first step.


Stage 2.

It's time to evaluate the feasibility of the requirements now that the product idea has been approved. The feasibility study of a software project examines the entire project and its implementation throughout this stage.

The study will be carried out and analyzed from a practical perspective to determine if this product is going to bring about a positive change in the organization.

This process will determine the product requirements, codes and design, resources, and other areas that contribute to developing an actionable Custom Development Solutions.

The requirements and feasibility study highlight all technical and financial aspects of software development. This helps to identify software risks early.

This allows you to take early steps and develop risk mitigation methods according to the requirements.


Stage 3.

Product design is a significant part of software product development. The design phase is when the software architecture is created, fulfilling the project requirements and criteria.

This is the stage where the actual conceptualization of a software system occurs.

Software developers create standards and procedures for custom-made software products. During the development of software products, the prototype and representations will be used to build the entire program structure.

After the design is identified, you can move on to its creation.


Stage 4.

This process occurs after the design phase in the software product development stages. This phase is at the core of software product development.

This phase is the beginning of product development. This step is part of the software development process. It includes writing code and converting design documents into working software.

This stage is the most complex and takes the longest to develop compared to the others. Software developers ensure that their code complies with the software requirements specifications and the needs of stakeholders.

The development teams can create a roadmap for the software development process. To build a high-performance, robust software product, you can communicate and summarize their plans.

The arrival of new development tools and improvements in technology also improved the efficiency of development processes and increased scalability.


Stage 5.

The testing phase begins after your product has been built. The software testing team will perform continuous system integration, functional testing, system testing, interOperability testing, and user acceptance testing.

It is important to check whether the software developed follows your plan. After you have completed this step, you can combine all features of the app into a single resilient system.

Later, this system will be tested, and the apps will be checked to ensure a smooth flow. A balanced mix of automated and manual testing can speed up the release process.

This ensures that the code will be free of errors and that business goals can be met with this solution, thus enhancing business Operations.


Stage 6.

In software development, the term deployment is used to describe the process of getting a custom development app ready for the market.

To ensure a smooth and trouble-free deployment, planning, development, and Operation all need to work together. The Operations team should know every critical aspect of development. You'll need to make sure that everyone is on the same wavelength.

The product will then be made available to users on the market after deployment. Launching these products is the next step.

Launching software products will only be undertaken after a hundred tests to make sure it is ready for deployment. The next step will be to create a marketing plan or product promotion strategy.

You should make your app public with all its amazing features and characteristics. You can even launch a small product to test the market.

Depending on the results, you may change your plans for a major launch. You can also evaluate your marketing plan and, if successful, increase its scale. You still have a lot to do at this stage since you need to decide how many products will be offered.


Stage 7.

If you believe that your work is finished once the development phase is complete, then this is a mistaken notion.

It is not over until the software requires constant updates and services. Custom Software Development Services also take on maintenance tasks, and a dedicated team is assigned to address any issues that may arise.

Support and maintenance services may include bug correction and detection, process upgrades, upgrades of software, etc. These upgrades make the product bug-free.

There are many software development methodologies available today. This allows for a more flexible and convenient development process.

These methodologies offer advantages such as reduced risk and enhanced scalability for continuous iterations. Waterfall and Agile are two popular product development methods. More information will be provided on each of these.


Different Software Product Development Techniques

Different Software Product Development Techniques

 


Waterfall

There are many ways to develop software products. The waterfall model was one of the first approaches to software development.

It consists of a series of sequential steps: conception, initiation analysis, design construction testing, quality assurance implementation, and maintenance. The steps are always performed in the same order, and they never overlap.

The developer must finish the previous step before moving on to the next. This paradigm is ideal for software projects where needs are clear and detailed.

Precise and accurate documents outline how the system will be built. This model is known as the "Waterfall Model" because its visual representation looks like a cascade.


Additionally, You May Learn More About Agile

Agile software development methodology in product development is an iterative method of managing custom software development projects.

It emphasizes continual releases and takes client feedback into account at each iteration.

Agile development process methodologies can help software teams increase their development speed and improve collaboration.

They also allow them to respond better to market trends. You can include more recent releases and upgrades in agile methodologies, which allows clients to easily see and access frequent updates.

Agile development also includes incremental development. Software is created quickly in incremental cycles. The incremental releases are quicker, as each release expands on the previous one's capabilities.

You can use time-sensitive custom applications. Agile saves time and ensures that the final product will meet the requirements.

Scrum is also a good development method in Agile. What is scrum?


Scrum

Scrum is an important part of Agile development. Scrum relies on a self-organizing cross-functional team. Scrum is a cross-functional team, meaning that all members are required to take a feature from conception to execution.

Scrum is an agile framework that focuses on adapting and learning constantly.

The framework recognizes that the team will not have all the answers at the beginning of a project, and they will continue to learn as the project moves forward.

Scrum is designed to allow teams to adapt to changing conditions, user needs, and process integration.


DevOps

The most preferred method for product development is Development and Operation. Businesses choose this method because it's quick, efficient, and high-quality.

This combination of Development and Operations reduces the development cycle. It offers new features and updates that are in line with business goals.

DevOps is a process that includes everything from conception to design, development, testing, deployment, and release.

DevOps is a mainstream method that has taken on all the responsibilities since its inception. DevOps, unlike other methodologies, work simultaneously on all modules.

It also builds an application that is flexible and open to changes even after the development phase and during it.

It saves time because some processes are automated, such as testing. DevOps is a popular choice for developers because it increases efficiency and maintains clean code without fear of failure.

It has a fast recovery plan that fixes any errors or bugs immediately.


Types of Software

Types of Software

 

System Software and Application Software are the two main types of software in computers.

System Software: It helps the user and hardware interact and function together. It is software that manages computer hardware to provide users with basic functionalities.

The system software acts as a mediator or middle layer between the hardware and the user. It creates a platform for other software. It is important for managing the whole computer system.

The system software is loaded and initialized when you turn on your computer. The system software runs in the background, and it is not used directly by end users.

This type of software can also be called 'low-level software.'

Read More: All the major elements of software product development


Examples System Software


Operating System

This is the simplest example of system software that can be found in all computing devices. It is a group of software that manages resources and provides services to other applications running on a system.

Each Operating system has its GUI, but most of them allow you to manage files and folders as well as perform other tasks.

Operating systems are required by every device, be it a laptop, desktop, or mobile phone.

Many users choose to use a specific OS on their devices because it determines the way they interact with the system.

There are many different types of Operating systems, including real-time embedded, distributed multi-user, single-user, Internet, and mobile. Before choosing an Operating system, it is important to take into account the hardware specifications.

Examples Of Operating Systems Include:

  1. Android
  2. CentOS
  3. iOS
  4. Linux
  5. Mac OS
  6. MS Windows
  7. The following are some of the most recent and popular ways to contact us
  8. Unix

Device Drivers

This is a software type that controls specific hardware connected to the system. Displays, sound cards, and printers are some of the hardware devices that require a driver in order to be connected to a computer.

There are also two types of drivers: Kernel Device Drivers (KDD) and User Device Drivers.

Examples of device drivers include:

  1. BIOS Driver
  2. Display Drivers
  3. Motherboard Drivers
  4. Printer Drivers
  5. ROM Drivers
  6. Sound card Driver
  7. USB Drivers
  8. USB Drivers
  9. VGA Drivers
  10. VGA Drivers
  11. Virtual Device Drivers

Firmware

Firmware is a permanent piece of software that's embedded in read-only storage. A set of instructions is permanently stored in a hardware device.

It contains information about how the hardware device interacts with each other. Firmware is semi-permanent software, as it will remain permanent until it's updated with a firmware updater.

Examples of firmware include:

  1. BIOS
  2. Computer peripherals
  3. Consumer Applications
  4. Embedded Systems
  5. UEFI

Programming Language Translators

They are intermediary programs that software programs use to translate machine-level code from a high-level language.

The translators do more than just simplify the code.

  1. Assign data storage
  2. Include source code and program details
  3. Offer diagnostic reports
  4. Correct system errors in the runtime

Interpreters, compilers, and assemblers are examples of Programming Language Translators.


Utility

Utility software assists with computer analysis, optimisation, configuration, and maintenance. It is used to support the computer infrastructure.

They look at how the OS works and decide on their course accordingly to improve its functioning.

Utility tools include antiviruses, disk cleaning & management tools (compression tools, defragmenters, etc.), and other tools.

Utility tools include:

  1. Avast Antivirus
  2. Directory Opus
  3. McAfee Antivirus
  4. The Piriform Ccleaner
  5. Razer Cortex
  6. Windows File Explorer
  7. WinRAR
  8. Winzip

Software Applications

Applicant software, also called end-user or productivity programs, helps the user complete tasks like doing online research or writing down notes.

It can also be used to design graphics, keep a log of transactions, do calculations, or play games. They are located above the system software.

Users can use them to accomplish a particular task or purpose. A browser, for example, is designed to browse the Internet.

MS Powerpoint can be used to create presentations.

Apps or Application Software can be considered non-essential as their requirements are highly subjective, and their absence will not affect the functioning of the system.

Apps are the apps that we use on our phones.

Meteor Flutter is an example of software that is specifically designed for app development. They are also examples of Application Software.


Types Application Software


Word Processors

These applications allow you to create documents that you can edit and write in. It also helps with storing, printing, and formatting documents.

Word processors can be classified into:

  1. Abiword
  2. Apple iWork Pages
  3. Corel WordPerfect
  4. Google Docs
  5. MS Word

Database Program

Database management systems are software applications that create and manage databases. They are used to organize data.

DBMSs are used to organize data.

  1. Clipper
  2. dBase
  3. FileMaker
  4. FoxPro
  5. MS Access
  6. MySQL

Multimedia Software

Multimedia software is a program that can play, record, or create audio, video, or image files. Multimedia software is used to edit videos, create graphics and images, as well as for animation.

  1. Adobe Photoshop
  2. Inkscape
  3. Media Monkey
  4. Picasa
  5. VLC Media Player
  6. Windows Media Player
  7. Windows Movie Maker

Education and Reference Software

These software programs are designed to help you learn a specific subject. This category includes a variety of tutorial software.

Also known as academic software, they are a variety of tutorial programs. Examples include:

  1. Delta Drawing
  2. GCompris
  3. Jumpstart titles
  4. KidPix
  5. MindPlay
  6. Tux Paint

Graphics Software

Graphics Software, as its name implies, is designed to help users edit visual data and images. Picture editors and illustration programs are included.

Examples include:

  1. Adobe Photoshop
  2. Autodesk Maya
  3. Blender
  4. Carrara
  5. CorelDRAW
  6. GIMP
  7. Modo
  8. PaintShop Pro

Web Browsers

Browsers are essential for browsing the Internet. They allow users to retrieve information from the Internet. Examples of web browsers include:

  1. Google Chrome
  2. Internet Explorer
  3. Microsoft Edge
  4. Mozilla Firefox
  5. Opera
  6. Safari
  7. UC Browser

All other software that has a specific function falls under the category of application software.

Alternative Types of Software

The software can be classified according to its availability and sharing ability. This classification can be summarized as follows:

Freeware

You can download it from the Internet and use it without paying any fee. It is available for free download on the Internet.

Freeware, however, does not allow for the modification of software or for charging a fee to distribute it. Examples include:

  1. Adobe Reader
  2. Audacity
  3. ImgBurn
  4. Recuva
  5. Skype
  6. Team Viewer
  7. Yahoo Messenger

Shareware

This is a type of software that users can download for free. The software usually has a limited time period, after which the user will be asked to pay if they want the service to continue.

Shareware comes in many forms, including Adware, Nagware Freemium, Donationware, and Demoware.

Shareware can be:

  1. Adobe Acrobat
  2. Getright
  3. PHP Debugger
  4. Winzip

Open-source

Users can download the source code of these types of software, allowing them to freely modify and distribute the software.

They can also add new features. Open-Source Software can be either free or charged.

Open-source software is available in many forms.

  1. Apache Web Server
  2. GNU Compiler Collection
  3. Moodle
  4. Mozilla Firefox
  5. Thunderbird

Closed-Source

These applications are paid for, and the source code is protected by intellectual property or patents. They are restricted, and the source code usually is kept secret.

Some examples include:

  1. macOS
  2. Microsoft Windows
  3. Google Earth
  4. Skype
  5. Java Adobe Reader
  6. Adobe Flash Player

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Conclusion

It was all about types of software. It is important to know how to classify software, as we use it every day for different tasks.

There are two main types of software: system software and applications software. The first is at the core of every computing system. The second is for a particular purpose.