Physical stores and other businesses are preferring to use E-Commerce website services and several other technological resources, for expanding their sale and expanding the number of clients they can provide service to. For an E-Commerce store, in particular, it will create ease for the consumer to shop online without the need of going to the market. Most of the stores that are opting to start their digital or use different types of customized software to enhance their selling numbers usually take the services of a custom software development company.
Lowe is a retail company for home makeovers and improvements, headquartered in North Carolina and having stores across the United States and Canada. It has introduced a new concept which is known as the Lowe’s Do it yourself (DIY) approach, which basically tells the companies to take their fate in their own hands, by developing their E-Commerce platform or any other software that they are to use, to be built by themselves, by their own team of developers. What this does is provide a have better control of the application or the software, and can be customized at any point in time, much easier and faster to what you would, if you had put a custom software development company to do this task, after potential lack in communication, unavailability of the company’s representative.
According to an article on the Wall street journal, Lowe is aiming for is to put together a team of 2,000 people, which would include the all the required personnel from software engineers, data analysts, and other prominent figures to make sure that 80% of the software development takes place, in house by their own team, before the end of the year 2020. For achieving this purpose, they have allotted a fat budget of $500 million as their annual budget. This modernization in Lowe’s Information technology infrastructure was amped up by the hiring of its chief information officer, Ms. Seemantini Godbole, who immediately after being employed, quoted in a virtual meeting with the investors and analysts that the technology being used by Lowe is “well behind leading retailers in terms of strategy and architecture.”
With all this history and context, the question will arise in the mind of whether in-house software development is a better way to enhance your business operations and capabilities like Lowe, or it cannot be adopted by companies of all sizes, and they are better off having their software developed by a custom software development company. Let us dive in and look at the potential advantages and downsides that it may have in adopting this.
Pros of Using Lowe’s Approach
As the Research Vice President of Gartner, Mark Driver quoted while speaking to the Wall Street Journal “We live in a world where people prefer customized clothes size and designs. Same goes with software.” A custom software development company is likely not to understand entirely what you need to make sure you avoid these types of miss-communication in getting the smallest detail of the software, solely what you need to see in your software. As mentioned above, this approach is also useful when you have limited time for a specific task in your software.
We undoubtedly live in the age of information technology. No matter what business it might be, you are in a race with so many, to stay ahead and offer something unique to the consumer. This is where you definitely need the idea of an in-house software developed by the personal software development team, which is personalized regularly, rather than the conventional and time-consuming method of having it done by a custom software development company.
Cons of using Lowe’s Approach
Not all are correct for every situation. You need to understand your requirements and plan your move according to the situation. Before Adopting the Lowe’s Approach, you need to look at your resources and your hiring for experienced personnel, which can lead your software development, and try to replicate the processes and methodologies applied by a professional custom software development company. If you do not have such resources in your team, your plans and investment are likely to crash and be wasted.
Such a large program and setting will require a massive amount of investment. If you have strong investors like Lowe, fair enough, else it will just be a plan half cooked. This will not cause this program of In-house development to fail, but also the entire business to be bankrupt.
Taking complete ownership of your software development does not mean that you are bound from not receiving any assistance from the outside. It is always good to have a 3rd and experienced view about whatever you are trying to do. It is our outside individuals or a custom software development company that will broaden your perspective and make you explore ways on how you can achieve your end-result quicker.