Hurry! Discover 7 Hidden Costs Of Software Development Before Its Launch And Save Your Money! Many companies are investing in software development nowadays as it not only saves your cost but gives you a competitive advantage over others.
Around 57% of IT companies are planning to invest more in software development. (CompTIA)
The number of companies investing in software development is increasing vigorously. Still, many software development companies are not aware of the hidden costs they should anticipate before launching the software.
Suppose you bought a new car, will there be no need to pay any money in the future for that car? No, the answer is No, because after spending money at the time of purchase, other charges like service costs, repair costs, etc., should be kept in mind for your car’s overall maintenance.
Software development is no different, and there are many expenses you need to incur after your project’s delivery.
But what are these hidden costs of software development?
There are certain types of development expenses that you should keep in mind before your project’s launch. In this blog, I’ll discuss 7 types of hidden
7 Types Of Hidden Cost That You Need To Anticipate Before Launching Your Software
#1. Maintenance Cost
Your software development team’s job is not over after the project’s delivery, as they have to keep supporting your software even after you launch it. Your newly launched software should need to be updated on an ongoing basis.
Software development is a never-ending process; you need a team of experts to maintain your software to continue to hold a strong position in the market.
After your project’s delivery, you need your software development team to keep your software up to date; it includes changing customer demand, new features, and maintenance; your software needs regular refreshing to stay alive.
#2. Hosting And Server Costs
Hosting and server costs depend upon the number of users, type, and amount of data you are managing.
Hosting expenses are something that should be considered in your initial software development budget. These costs are mainly for the servers hosting your software.
You’ll have different servers like email servers, examination servers, analytics servers, and more, depending upon the type of software development.
Usually, most companies charge you for hosting every month. You have an option to host your servers in the cloud; for that also you’ll be charged every month.
#3. Training And Development Of Staff Members
Training is another expense that is included in the list of the hidden cost of software development.
This expense usually comes into the picture when your already trained employee in the software development maintenance team decides to leave your company or in case you fired any employee because of their poor job performance.
When you hire a new employee, you should do proper training and development to ensure that they can contribute to your software’s maintenance.
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#4. Software Security
Creating robust software and enhancing the user experience is not enough to make your software development a success, but one should never ignore software security which is critical from the user’s perspective.
Software security is necessary to ensure integrity, authentication, and availability. You need to spend the additional cost to protect your software from any kind of malware attack and hacking practices.
#5. Software Testing And Troubleshooting
It’s vital to test your software before launching it in the market to ensure that the software is working fine. Many software developers often ignore this step, but testing a product is essential to fix any technical errors and bugs before launch.
Testing a product will ensure that it’ll work fine in the future and saves unnecessary expenses in the long run.
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#6. Software Upgrade
Customers’ demand is continually changing, and your software needs to be upgraded according to the customer demand or needs. Your business needs to be ready for any future uncertainty.
These costs come into the picture when there is a change in customer demand and technology. Your business should be prepared in advance for those changes, so it can adapt to changes quickly and get a competitive edge in the market.
#7. Marketing And Advertising
Advertising and marketing play an essential role in making your software development project successful. If you want people to know about your newly launched software, you should make a comprehensive marketing strategy.
3 Proven Ways To Prevent Hidden Cost In Software Development
Have you included the above software development hidden costs in your budget? If not, then make sure you do that, so you are better prepared for future expenses.
Now we know about the 7 types of hidden costs incurred in software development. Let’s discuss how we can prepare and save ourselves from these hidden costs. Here are the top 3 tips:
1. Select The Appropriate Technology Choose your technology after taking a recommendation from peer companies and after doing thorough research to have a long-lasting impact.
The technology you choose should be flexible, so you don’t face any problems regarding software upgrades in the future.
Make sure to choose reliable technologies such as React Native or Java for better scalability.
2. Target key Platform You should be clear in your mind about which platform you will target, whether it’s android or iOS, or both.
You should do proper research to find your target audience then deciding the platform they use. If your target audience uses the iOS platform, it’s better to invest in the iOS platform only and vice versa.
3. Don’t Invest Too Much In Third-Party Tools. People often invest in third-party tools to improve the functionality of their software.
But you should not rely too much on these tools as it requires a certain amount of planning, programming, and testing, which involves a lot of money and time and sometimes become a bit cumbersome.
Final Words The cost of software development is not restricted to the project launch only, but there are few hidden expenses are there that should be kept in mind while making a budget; these are:
● ● ● ●
Maintenance costs Hosting and server costs Training of staff members Software security
● Software testing
Make sure you should be aware of the above 7 hidden costs of software development, so you can prepare for them before launching your software.
Do you know the different ways on how to prepare for software development hidden costs?
If No, make sure you grab the above information to save your money after launching your software.
Do you have any queries regarding hidden software development costs?
Please mention those in the comment section below, and I’ll get back to you in the short time possible.
FAQs Q1: What is the hidden cost?
A1: Hidden costs are unexpected expenses added to purchases. They can be both minor and major. Some examples of hidden costs are maintenance, supplies, support, and upgrades.
Q2: What Are The Different Types Of Software?
A2: There are four main types of software these are:
● Application Software: It is the most common type of software, and It is a group of program designs for end-users that help you accomplish tasks or achieve a desired result. Some examples of application software are Internet Browser, Adobe, Microsoft Word. ● System Software: The system software is a well-organized computer program that can run smoothly on a computer’s hardware and application programs. It is vital to run different application software and the whole computer system. Apple’s iOS and Microsoft Windows are the best-known examples of system software. ● Programming Software: The programming software is for computer programmers and developers who are writing code. Programming software is mainly for computer programmers who do coding. In simple words, It helps the programmer in making software programs. Some popular programming languages are Java, PHP, C programming, Python, and more. ● Driver Software: The driver is a software element that enables the operating system and a device to communicate. Driver software regulates devices that are plugged into a computer. These drivers make it feasible for devices to perform their essential functions.
Q3: How Much Does It Cost To Develop Software?
A3: Many custom software projects’ average cost falls between the $40,000 and $250,000 mark to design and develop the application. However, this range is very broad and probably won’t help you.
There are various factors that affect the cost of software development. These are:
● Size: If the number of screens/pages you have is on the greater side, it will require more work to build your application and vice-versa. ● Complexity: If your software application displays a lot of analysis and testing or your application has some complexity, It will require more cost to build that.
● Design: Creative design in software development means choosing different fonts and colors. The more expensive your design is, the costlier your application will be. ● Integration With Other Software: Integrating your software with external software includes a lot of unknown variables. Sometimes the integrations are simple, and sometimes, they are challenging. Integrations like payment providers such as PayPal are some examples of easy integration.