7 effective ways to reduce your software development budget

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Software development is a buzzword in the virtual era and the following guide with the proven seven recommendations will bring you to the limelight to help planning your next software development project like a pro.

1. Think ahead

Having a long-term plan, with future in mind is the stepping stone for cost-effective software development. Conducting a thorough market research to identify your target audience first and gathering all your research findings together to come up with an initial sketch or a mind map are important. Once you figure out the bigger picture of your plan, you will get to know the requirements of your audience and what is needed to be done next. Most importantly, this process helps you minimize future challenges.

2. Break down the project plan into chunks

One step at a time is the key to ensure 100% focus. To slim down at the beginning, the minimum viable product requirement (MVP) needs to be identified and a sample product launch can be executed among a small set of your target customer base. This will be an initial version of the product with minimum resources and just enough features to be usable. The main object of this MVP is to enhance the functionalities of the product by closely monitoring customer feedback. Gradual developments will be done accordingly and as a result, any drawback is rectified in advance to avoid the cost of duplicating work.

3. Validate the prototype concept

Creating a UI (User Interface) replica of the final outcome of the software adding the tools and the other required fields is a smart move. That makes sense to the further development of the product even with an involvement of a third party for recommendations. This prototype concept creates the early sample model of the product in your mind allowing to eliminate unnecessary redevelopment costs.

4. Decide on the best tech stack for the application

When you are in the process of finalizing the requirements for your software application, a number of various questions such as the use of the programming languages, server providers, types of framework, databases, server architecture, automation tools, etc. can cross your mind. At the same time, your budget constraints show a red light. In this scenario, the requirement of a technology stack component to enlist the underlying tools, frameworks, and libraries to build and run your application is required. You are recommended to focus more on the following two areas and take the final decision.

The first area is being clear about the exact type of your software project. Then it is easy to make the right choice. For example, adapting a cross-platform development for mobile apps is the ideal choice to reduce the involvement of cost of development significantly. Likewise, being familiar with the exact project type can help you meet the most sought-after and efficient tools.

The selection of sophisticated technologies which are already available in the market is the other area. Rather than connecting with a budding technology service provider platform with a less community base and experience, it is always wise to select an established service provider platform in order to keep your project on the safe side.

Most of the time these stable platforms are well-equipped with unique features and zero loopholes. You can take the advantage of these features for your software development instead of wasting money and time on recreating them. It is also just one google search away for you to get quick solutions with evidence especially when you encounter any technical issues with these service providers as they are rich in long-term vendor support systems, reliable aftercare and, a mass of community base. So that investing in the right tech stack component can reduce both time and costs while your choices are interconnected with the exact requirements for the design, development, and environment of the project.

5. Make an investment in a template or a framework

Software development does not always mean that you need to create all the components from scratch to match the project expectations. You are recommended to use an already existing template, framework, plugin, or service to fulfill your needs. You can continue with the same template or framework depending on your project type. Maximizing available resources effectively is good for your pocket.

6. Use the agile development approach and follow lean approach

This approach refers to the cooperation between the client and the developers from A to Z during each stage of the software development. The rapport between both parties is transparent. Each and every stage of the project is dedicated to customer feedback. Based on this feedback, necessary adjustments to minimize the risk of rework to zero with cost deduction can be considered. At the end of the day, you can monitor the gradual development of your project.

7. Outsource to a lower-cost company

This point adds more weight to make all your expectations a reality. Finding the right software company with quality and cost-effective services will be a bit challenging but we recommend you considering the below-mentioned key factors to make that sensible decision.

◉ Tap into the South Asian region

It is a fact that the IT industry in the developing South Asian countries like Sri Lanka is booming. The investment that you make there can bring more benefits and assurance to achieve your goal. The industry is handled by well-experienced scholars, experts, highly specialized staff, and technologies and designers with innovative minds and a good sense of understanding of the market to provide quality assured services.

◉ Select a medium-scale company

Your budget is your asset and that needs to be invested for a worthy course. Picking a medium-scale, leading software company helps you make budget-friendly decisions to gain effective results.

◉ Good portfolio and prior experience

Having a sound company portfolio with industrial experience and exposure is another key factor to consider. When you select the right software company, you need to refer the customer feedback, level of customer and company engagement in business, work history, client base, reputation of service arm in the market, level of services, reliability, success stories, etc. of that company to come to a conclusion. Consideration of these areas is a must.

◉ Technologies used in the company

The IT industry is being developed and evolved in full swing. It is always advisable to pick a company that uses up-to-date technologies, information, industrial supports, etc. to create an impact in the market and the industry.

The above-mentioned recommendations reflect that getting reliable and hassle-free services on time within your budget is indeed a blessing and a great achievement with your right choices.