In our recent articles, we’ve looked at what a bespoke businesses management system is, why you might need one and the primary benefits associated with investing in one, but we still think there are some subtler advantages we’re yet to cover. This article looks at those hidden benefits so you’ve got a fuller picture of the value one of these systems can bring to your business.
What is a bespoke business management system?
We’ve written an article titled “What is a bespoke business management system” for those of you who want to get a detailed understanding, but in summary, it’s a piece of software that’s built specifically for your business. It’s so bespoke that it fits your processes perfectly, like a glove if you will. Typically, the software will do a variety of things, from acting as a CRM to providing business leaders with management information.
Primary benefits of a bespoke business management system
Before we get onto the hidden benefits of a bespoke system, let’s quickly recap on the more obvious and immediate improvements you can expect:
- Better communications
- Advanced planning and forecasting
- Flexible scheduling and resourcing
- Accurate, realtime reporting
The hidden benefits of a bespoke piece of software
As we’ve alluded to, we think there are a number of hidden benefits which we haven’t yet spoken about, some of which might only become apparent some years after having the system created for you. In this section we look at what those hidden benefits are so you can factor them into your decision-making process.
When you invest in a bespoke piece of software to help run your business it’ll be accounted for as a tax-deductible expense. So any costs relating to the software will be deducted from profits, reducing your Corporation Tax liability.
You own it
Today, it seems that almost everything is provided on a subscription basis - from our cars to our software, companies are tying us into on-going, recurring contracts. So our next hidden benefit is that you own the software we create for you - it’s not rented or subscribed to. While on the surface this may not seem terribly important, you have to remember that you’ll need to invest both time and money into creating this software and it’ll contain a huge amount of your intellectual property. A bespoke business management system will be an asset, as we’ve detailed in the next item.
It’s not priced per seat
‘Per person per month’ must be one of the most uttered phrases in the world of software, so it will come as some relief that your bespoke software doesn’t only belong to you, but also isn’t priced per person. Any on-going maintenance fees are calculated based on the complexity of the software, not the number of people using it.
The software becomes an asset
As you own the software and the intellectual property contained within it, there is no doubt that the investment becomes an asset to your business. While you might not be thinking about selling up just now, if you do ever think about putting your business on the market, having an asset such as a bespoke business management system will only add to its value.
It grows as you grow
Finally, as your business grows over time, it’s likely you’ll invest further into your bespoke management system and it will develop alongside your company. Unlike off-the-shelf software where you have no control over updates which are imposed upon you, with your own application you decide when it’s upgraded and what changes are made to it. If for example, you want to maintain the status quo, then small iterative upgrades might be best, equally if your business changes quickly you can have your software adapt with you.
In conclusion, there are simply so many benefits to having a bespoke business management system and while it’s often quite an initial investment, in our experience it is always worth it. If you’re interested to see how a bespoke piece of software could benefit your business, please get in touch.