Advancing Corporate Strategy with Business Application Development
Business application development can play a crucial role in how your business functions and grows. In this article we will discuss:
- What is Business Application Development?
- Why Business App Development should be a part of your strategy?
- What are the types of Business Applications
- The pros and cons of choosing custom over off-the-shelf apps .
Table of Contents
What is Business Application Development?
Mobile applications are creating a positive impact in businesses all over the world. From better user experience to streamlined processes within the organisation, incorporating business application development in your corporate strategy is the future in the digital era.
According to studies, 85% of shoppers prefer apps over mobile websites for online shopping. This just goes to show that apps are a preferred method of conducting transactions.
Businesses will not only benefit on the consumer side of things but also regarding internal processes. Several business owners have agreed that business applications have helped them automate processes and minimise the time taken to get a task done, improving efficiency and minimising the risk of human error.
In this article, we will discuss what business application development is and how it can be used to advance your corporate strategy.
Just like any applications, business application development is the creation of software or solution that are geared towards improving business functions, enhancing transparency and helping businesses gain consumer insights to make better informed decisions.
The best part about business application development is the customisation. While there are several tools and solutions that are ready-to use, by developing your own application you can integrate all your requirements into a single platform to get rid of unnecessary features and focus on the aspects of the business which are most important to you.
These solutions contribute towards the efficiency, productivity, and success of an organisation by addressing specific business challenges and supporting strategic objectives.
Why You Should Include Business Application Development in Your Corporate Strategy?
Just like marketing or sales, business application development needs to be a part of a successful corporate strategy. This will not only benefit your business from a customer-facing perspective but also improve processes within the organisation.
Following are some of the reasons why business application development is important and how it can help your grow.
Boost Efficiency
When it comes to efficiency, internal applications can make a huge difference when it comes to employee work rates. By automating certain aspects of your processes and diverting resources to other tasks, you will see a huge jump in the effectiveness of your operations.
Furthermore, these internal applications can also help improve collaboration between team members and facilitate in remote work settings.
Improve Communication
Business applications can be designed to simplify workplace communication. This will allow employees to have crucial business-related information at all times. From sharing data, sales tools, business news and more, communication apps can play a huge role in how your organisation performs.
Strengthen Customer Relationship
According to recent studies, 76% of consumers prefer shopping on their phones to save time. Furthermore, payments through mobile applications are expected to reach 52.2% in 2024.
With an application, you increase your customer convenience and in turn your customer satisfaction. By eliminating the need for customers to wait for websites to load and enabling simplified transaction gateways, you can build a better relationship with your customer, building a loyal customer base.
Provide Meaningful Insights
Certain business applications allow you to extract insights from your consumer’s buying behaviour. These insights can be used for various business operations such as improving marketing strategies.
The ability to collect real-time insights and engagements can help you improve your customer relationship with improved strategies and enhance your business processes.
Optimise Marketing Strategies
With the help of a business application, you can develop a direct marketing channel. This will allow you to push targeted marketing efforts to consumer throughout their lifecycle.
Studies suggest that a customer is more likely to make a purchase from a business application rather than a website. This is why business application tools are not only necessary for consumers but also for marketers to improve their marketing activities.
Reduce Errors That Incur Costs
One of the major benefits of business applications is its ability to automate repetitive tasks. The risk of human error is always present and some of these errors can loss of revenues, damages to reputations and even heavy fines.
Business applications are a great way of reducing these errors and make your business efforts more efficient.
Types Of Business Application Development
Business applications can be used both internally and externally in combination with other applications. While these applications can be purchased as off-shelf solutions, most businesses prefer to get custom business applications that are geared towards specific business requirements.
There are generally three types of business apps to choose from depending on your needs and budget.
B2B Applications
The first type of business applications are B2B or business-to-business apps. These are used to collaborate between business partners, for example, retailers and manufacturers. These applications are accessed using dedicated lines to minimise the risk of data leakage and breach due to the sensitive nature of the data that is exchanged on these platforms.
B2B applications are designed to streamline business operations and simplify complex business processes. Some of the most common B2B applications include:
Buy-side B2B enterprise application:
Buy-side B2B applications are designed to facilitate the procurement process within a business. Some Buy-side B2B applications offer pre-negotiated pricing to avoid constant back and forth and improve time efficiency. It also features an automated procurement approval process, giving you complete control over all your business purchases.
2. Sell-side B2B enterprise application:
These apps are used by companies to sell their goods and services to other businesses. The apps can be integrated into personal B2B sites to help centralise the entire B2B process.
3. E-marketplace B2B enterprise application:
B2B applications for e-marketplaces help businesses connect to the buyer to help them carry out their business transactions on an intermediary online marketplace. This application eliminates the need for a middleman, improving the efficiency of all business transactions, making it cost-effective.
B2C Applications
The next type of business applications are B2C or business-to-customer apps which are designed to be customer-facing. These are the apps that people use daily, from online stores to other apps that are generally found on the app store.
The main goal of B2C apps is to create convenience for customers by helping them complete specific tasks quickly. There are various forms of B2C apps:
eCommerce apps:
E-commerce applications are specifically designed to serve as a platform to create virtual shops for consumers. Some of the popular eCommerce apps include Zyro, shopify, Wix, and BigCommerce.
2. Loyalty apps:
Loyalty apps are popular amongst consumers as they allow people to earn loyalty points through mobile devices and track their growth. The points would then translate to rewards that can be redeemed in various ways. Customers earn points by shopping, referring friends, or sharing their experiences.
3. Stand-alone apps:
Some stand-alone apps also fall under the category of B2C apps. These apps run locally on your device. Some examples of stand-alone apps include a Autodesk 3D Max, business calculator, mobile games, utility applications, and even social media platform.
Generally, B2C apps tend to be more labour-intensive and costlier to implement. This is because they require frequent updates in response to user feedback and customers’ changing needs.
Since they rely on regular users and downloads to determine their success, they must be continually maintained and updated. In general, B2C applications should be more competitive since you rely on the apps to make sales.
Internal Applications
Finally, internal apps are dedicated to internal use. These are regarded as core enterprise apps that are designed to deal with crucial business functions such as the Internal ERP systems and HR processes.
Following are some of the examples of internal business applications that we see on a daily basis:
- Inventory Control Systems
- Communication Software
- Accounting Software
- Reservation Software
- Schedule Management Systems
- Demand Forecasting Software
Pros and Cons Of Off-Shelf and Custom Applications
There are several factors that determine whether an application should be customised, or an off-the-shelf app would suffice. These factors can include, business requirements, level of customisations, required functionality and more.
The following infographic will define the pros and cons each type of application and what to consider when choosing one.
Off the Shelf Applications
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Custom Applications
Pros | Cons |
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Conclusion
Business application development can play a pivotal role in your daily operations and processes. Whether you are looking to collaborate with other businesses, your customers or internal within the team, best mobile app developers can make all the difference.
At FuturByte we will help you in your process of business application development and create an application for you that is designed to streamline your workflow and help you take maximum advantage of your resources by automating routine tasks and allowing you to focus on simplifying your operations.
Get a free consultation today and learn how a business application can help your business on the path to success.
We specialize in developing a wide range of business applications, including but not limited to custom enterprise solutions, CRM systems, workflow automation tools, data analytics platforms, and mobile applications tailored to meet specific business needs.
We implement industry-standard encryption, secure coding practices, and conduct regular security audits to safeguard sensitive data and protect against potential threats.
We have extensive experience in integrating business applications with existing software, legacy systems, and third-party tools. Our goal is to create a seamless and connected digital ecosystem for your business.
The development timeline varies based on the complexity and scope of the project. After a thorough consultation and requirement analysis, we provide a detailed timeline to give you a clear understanding of the development process.
We have expertise in developing cross-platform business applications that run seamlessly on both web and mobile devices. This ensures your applications are accessible to users across various platforms.
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