2022 is around the corner.
We can already see how intense the competition is going to get regarding technology.
Almost every day some new artificially intelligent software comes out and claims to revolutionize the monotonous tasks.
Some even go to the extent of replacing the human workforce!
But you should know that no robot or algorithm can yet replace the creativity of human beings.
The unique solutions to unique problems can only be expected from human beings – so far!
In this article, you are going to learn about several factors that directly or indirectly affect the cost of custom software development.
Build your Custom Software Application in 2022!
If you are interested in building your own custom software application, there are many factors that need to be considered. You will want to think about the hours of coding, the cost for each hour of coding, and the number of people working on the code.
With all these factors in mind (and others), we came up with a rough estimate for what it would cost to build your own custom software project.
Hourly Custom Software Development Costs
Based on experience, we found that experienced developers could likely charge $15-$30 per hour. The rates vary based on skill and location; they may also vary depending on company size and whether or not the labor is contracted or offered as a salaried position.
Number of Hours Expended
When estimating the number of hours, it takes to build your custom software application, you should not only look at the 40-hour workweek. Many developers go above and beyond during their time on work projects.
You may need to plan more than 40 hours per week (or per person) in order to account for overtime or additional time spent on code outside of work hours.
For example, if you want someone who works 40 hours every week on coding your project; then that might equate to 160 hours (40*4) per month. Once again this varies by company size and the developer’s hourly rate.
Price per Code Hour
We estimate that the average price for one code hour would be in between $15 and $30. This means that if you want to have a developer work 160 hours on your project, it could cost anywhere from $2,400 all the way up to $6,000 depending on the price per code hour.
Number of Custom Software Developers Required
One custom software application can require many different developers working on different parts of the overall project simultaneously. The required number will vary greatly depending on what type of software program you are trying to build.
We anticipate that most custom applications will require two or three developers at minimum when building your own unique software package. The developers should include one front end developer and one or two back-end developers.
Some companies that offer custom software development may be able to provide four to five individuals, but that will depend on the price you are willing to pay.
Software Development Estimate Costs
As we mentioned before, it is difficult to estimate the cost of building your own custom application. There are a lot of factors that come into play when planning a budget for your unique software package.
The estimates provided here should only serve as a guideline since every case will be different – costs can increase if deadlines need to be pushed back or certain features change during development phases.
Custom Software Development Cost and Factors
The software development industry is evolving rapidly. In 2022, technology is more accessible and affordable for companies of all sizes.
Custom web software has become a more viable solution for running day-to-day tasks in organizations of any size.
In 2022, the cost of custom software development will be different from industry to industry and from company to company based on a number of factors that affect the final price tag.
Those factors are:
1. The complexity of the project itself
If a custom web application requires a complex back end system, additional resources might need to be employed, which will increase the costs.
2. Technical architecture knowledge required
A deeper understanding of the technical aspects behind an application will allow developers to design an efficient site with less development time.
Developers with deep architectural knowledge will be able to provide better solutions without the need for third-party support/outsourcing, saving companies significant costs.
3. Application scalability
A scalable application is easier and faster to develop because it is less complex, allowing developers to work more quickly and efficiently, resulting in a lower cost of development.
4. The custom software developer’s location
If a company uses an out of state or even another country’s developer team, there are several additional costs associated with this option including communication expenses, possible time zone issues, etc.
5. The design work required
Web design adds another important element that needs to be developed within the custom web application project itself. Design work costs depend on the location of the graphic designer and many other factors associated with designing.
6. The budget
Cost reduction is always an option for companies but must be weighed carefully against quality and time frame needs.
The most important thing to consider when developing a custom web application is to plan early in order to save costs later, which can be achieved by understanding what factors influence the cost of custom software development as thoroughly as possible.
6. Strategies to Reduce Costs
- Outsource communication and documentation work to a third party.
- Have the custom software development company manage critical technical aspects such as server management, load balancing, and system monitoring.
- Find an in-house team that already has experience with your industry and/or application type.
- Budget realistic timelines to avoid cost overruns.
- Hire a team of developers (rather than one freelance developer) who can work together in order to provide faster project completion times.
Summing it Up!
The cost of custom software development for an organization is dependent on a number of factors. The more complex the project, the higher the price tag.
If you want to reduce costs while still creating a successful application, launch with an MVP (Minimum Viable Product) version of your custom software, and once your software is live, keep on adding features as part of the next phases.
It’s also important to have realistic timelines in place that do not exceed budget expectations so that cost overruns can be avoided altogether.