7 Important Factors Increasing the Cost of Custom Software Development Project

This article shares seven key factors determining custom software development costs to help you make wise business decisions. Read on to get the details.......

Are you planning to build new software and wondering what the cost will be? It won't come as a surprise to learn that it depends. Everyone will tell you that the price can vary greatly, and that's true – there is no one-word answer to that. Custom software is a broad term; fortunately, you can check the factors affecting the cost and estimate it roughly. This article shares seven key factors determining custom software development costs to help you make wise business decisions. Read on to get the details!

Custom Software Development Cost: 7 Key Factors

Jumping into the development process before knowing the estimated cost is impossible for any business because the cost of custom software development is the top concern. So, before hopping on a discovery call with any custom software development company, you should have an estimate and know which factors to consider.

1. Still not certain about What you need?

Clients looking for something that's still 'shapeless' with so many uncertainties and unknowns should keep in mind that this could influence the project's cost. For instance, if the software development company needs to build a working prototype that would be altered later per users' feedback, this could be costly compared to having a clear idea about what your end product should look like.

2. The complexity of the project

The decision about app complexity is crucial from both the business and technical perspectives. We are talking about the different features you need, such as user engagement, payments, geolocation, the number of buttons and screens, and so on. The cost also depends on how many platforms you want the app to work on. For example, choosing three platforms (Android, iOS, and web) will be more expensive than choosing just one.

3. Team Size

The more members you need for custom software development, the more you will be required to pay. You will need a larger team if you need a large enterprise application with many of the latest features. On the other hand, if you need a single custom webpage or just MVP development, you may need a smaller team at a comparatively lower cost.

4. Technologies

Costs vary majorly based on the technology chosen by the business. On one hand, each tech stack carries individual advantages; on the other, there are significant price differences. In the end, it all depends upon the requirements of the business. For example, programming in PHP is much cheaper than JavaScript because the former has been in the market for years and has ready-made features that are easily available. However, JavaScript is used for more complex software for larger businesses. LearnLearn how to choose a technology stack for your custom software development.

5. Integrations

Integrators are factors that influence the software development cost as well. Suppose a client wants a solution integrated with more than two third-party business applications, such as customer relationship management, HR, and BI tools. In that case, this naturally requires more hours and, thus, could be more costly.

6. Software Design and UX

Although a unique design and style play an important role, you should first look into your requirements and target audience. Suppose your software is dedicated to improving internal processes; the design won't be your project's most crucial element. In that case, you don't have to invest in unique designs and user experience - Use ready-made options. However, if your target audience is large and targets various markets, you need something different – to give you an edge over your competitors. Although it will require additional work hours, the investment may pay off and result in attracting a large number of users.

7. Maintenance and Support

Keep this cost in mind when planning the application budget, as it will appear over time. Ongoing maintenance is crucial because it allows you to constantly improve the application, adapt it to the current market requirements, eliminate possible errors, and make needed updates.

Tips for developing a custom application on a limited budget

You might think that developing custom software will leave you with an empty pocket. So, here are some tips that will help you ensure that the average cost of developing a web application remains as low as possible without sacrificing quality.

1. Don't Underestimate the discovery Phase

Skipping the discovery phase is a mistake many companies end up making – according to McKinsey's report, almost 45% of the projects exceed the original budget when they neglect the discovery phase. During this phase, identify your target audience, their problems, and their needs. This phase enables you to test your idea against the reality of solving problems and meeting users' expectations. Understanding the big picture will allow you to work more efficiently and quickly, avoiding surprises. If you are confused, partner with a company that will analyze your needs and will help you align your goals and scope.

2. Right Custom Software Development Company

Finding the right development partner is crucial – don't make a hasty decision. Visit their website, review their experience, learn about the products they have created and read reviews.

3. MVP – a simple project

Start with core features and build a basic application (MVP) version first. If you successfully launch the first version of the application, you can move on to something more complex. Don't "reach for the stars" from the beginning and aim for those necessary functionalities that meet the users' needs.

4. Collect feedback

Start collecting user feedback as early as possible. This will show you what users need and like, what you actually need and which features should be removed. Objective feedback needs to be collected continuously and periodically for successful development and improvements.

5. Transparent Communication

One of the essential benefits of transparency is information flow. The more you know at each stage of development, the more you are involved daily, and the less ambiguous the whole process is for you as a client. This will reduce unexpected costs resulting from delays and frequent changes.

Whizzbridge as your Software Development Partner

The key to success is partnering with a company that understands your business needs and can provide a reasonable estimate. At whizzbridge, we're committed to helping you build a custom piece of software that meets your business and budget requirements. As mentioned earlier, it is impossible to provide the exact price for the project, but the more information we get from the client, the more precise an estimate we can prepare. Want an estimation of the Cost of Custom Software Development Project? Contact Us.

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