You should look to hire an enterprise custom software development company because they have specialized talent and expertise, offer tailor-made services, and ensure legal and security compliance.
1. Leverage expertise and specialized tools
Building enterprise software needs specialized expertise that not all developers possess. An enterprise software developer needs in-depth understanding of business processes, communication and management methods, and laws and regulations.
In addition, specific enterprise software development tools, like Oracle, Microsoft Azure, and IBM Cloud, aren’t as widely utilized outside of enterprise solutions, and that knowledge is highly coveted.
Lastly, enterprise software developers are usually business-minded, so they understand how to build solutions that meet the overall goals and impact the bottom line — not only solving the immediate pain points.
2. Reduce errors
Because enterprise software development companies help automate manual tasks and workflows, employees are less likely to make mistakes. Moreover, employees can quickly access updated information relevant to their tasks, reducing knowledge-based errors. This, in return, improves your business’s security and saves you money.
In fact, the World Economic Forum reports that 95% of cybersecurity issues are due to human error.
3. Streamline processes
Enterprise software development companies leverage business data and conduct extensive interviews with key stakeholders to identify workflow inefficiencies and pain points.
Then, they may design custom enterprise solutions that automate repetitive tasks, integrate disparate systems, and optimize workflow processes. These solutions may include enterprise resource planning (ERP) systems, customer relationship management (CRM) software, or workflow management platforms tailored to the organization's needs.
Additionally, a custom enterprise development company centralizes your data, allowing you to monitor operations and activities.
One example is when a UK-based B2B telecommunications provider approached Iflexion to upgrade its billing system. The enterprise software development firm replaced the legacy billing and rating system (BRS) with a new one.
The new BRS generated invoices provided flexible invoice distribution schedules and created branded invoices and email templates. It also integrated with the client’s systems and automated many manual tasks.
Now, the client can process over 10 million records a day and reduce invoice run time by 80%. It also made the business process more predictable and transparent, allowing for better visibility over business accounts.
4. Secure data
According to IBM, the global average data breach cost is $4.45 million. The top enterprise software companies understand the gravity of cyberthreats and employ stringent methods, as well as the latest technology, to ensure that all your data is safe against security breaches.
Add to that the necessary training, certificates, and experience to ensure that all technology they produce follows the best security practices and complies with laws and regulations, and you can see how important it is for businesses to utilize enterprise software development.
Common standards, frameworks, and agreements utilized by enterprise software development companies include secure software development lifecycle (SSDLC) testing, National Institute of Standards and Technology (NIST), end-user license agreement (EULA), and ISO 27001.
For example, an Azerbaijani commercial bank worked with ScienceSoft to build a robust SIEM solution compliant with PCI DSS. The enterprise software development company connected firewalls, IPS/IDS systems, EPS, central authentication system, and remote access control software, among many others. It also tailored the client’s IBM Security Qadar SIEM solution according to its unique needs and requirements.
As a result, the solution met all the PCI DSS requirements and provided 24/7 APT protection and insider threat detection.
5. Ensure legal compliance
In 2023, Wells Fargo and 10 more banks were fined for using consumer-grade apps Signal, Meta, WhatsApp, and Apple to discuss business matters. This was in violation of the US federal security laws for record-keeping, which requires businesses to keep a record and log of all business-related interactions.
Enterprise software development companies help you avoid these types of violations, as part of their quality assurance process is to perform legal checks. Plus, they ensure that their enterprise solutions include encryption, access controls, and audit trails so that communications adhere to regulatory requirements and industry standards.
For instance, ScienceSoft is an enterprise software development company specializing in the healthcare industry and is compliant with:
- The Health Insurance Portability and Accountability Act (HIPAA)
- General Data Protection Regulation is a European Union (GDPR)
- National Council for Prescription Drug Programs (NCPDP)
- Food and Drug Administration (FDA)
- Medical Device Reporting (MDR)
- Substance Abuse and Mental Health Services Administration (SAMHSA)
- Medicare Access and CHIP Reauthorization Act (MACRA)
- Merit-Based Incentive Payment System (MIPS)
6. Make decisions based on data
One of the most significant features of enterprise software is collecting and analyzing “big data.” Through this, you can understand the big picture with just a glance. You can also customize reports based on your needs, investigate the smallest detail, and glean actionable insights that optimize business processes.
Additionally, enterprise systems help businesses make plans and track goals. So, owners can understand client satisfaction, monitor expenses, and receive real-time notifications when potential issues appear.
A global retail company partnered with ITRex to improve its data analytics. The enterprise software development service developed a custom web portal with a 360-degree view of all data sources in various formats and a self-service business intelligence platform.
As a result, three million internal users can access the big-picture view of the data, and the solution is used over 13 million times. The client received actionable insights and discovered hidden connections for seemingly unrelated data.
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