Does your organization have the right software to help it reach its end goals? You might be surprised as to how a normal software can create redundancies within the workforce, and waste up a considerable portion of work time. Without the right software for your employees designed to suit organizational needs, you’d be losing out to your competitors. This is where a Bespoke or custom made software can help, keeping in mind the specific needs of your company and what you seek to achieve from the software at the same time.

How does it differ from any other off –the-shelf software?

Any off-the-shelf software comes with restrictions that can prohibit you from reaching your full productivity value. Also, since they don’t specifically cater to your business, expect to have significant features missing that you would want. This is where a bespoke software can help. Designed to address the specific needs of the company, it helps increase your productivity and enables you to access software quickly.

For instance, accounting firms can follow different accounting methods. If the firm handles only stock broking business’ accounting needs, their needs would be categorically distinct from any off-the-shelf software that they can find. Bespoke software will provide the customization that is necessary for such a unique business.

How Is Bespoke Software Different?

When designing bespoke software, developers take into account the different aspects of the business. This includes looking into everything from research and development to marketing and engineering.

For instance, large companies use bespoke software for content management, human resource management or inventory control. Bespoke software has slowly been gaining a foothold in the market.

Having tailor made software is of particular benefit to large scale companies who have specific needs that demand change and ability to adapt.

Benefits of bespoke software

For one, you get a solution for different business challenges and requirements – whether it is a need faced by everyone in your line of business or it is an issue unique to your company.

There will be no additional bloatware or features that you have no use of. Instead, you’ll get software that helps you do exactly what you need, and enables you to improve productivity, enhance collaboration within teams and increase your resources. In many ways, it also helps to consolidate the business processes already existing.

There are some other advantages as well.

–    Automate any processes that you have been doing manually up till now. This will bring all your data together and allows you more data for a more accurate analysis as well as increases efficiency.

–    Significantly lower workload on tasks that can be done automatically instead of assigning a manual employee to it.

–    Easier to monitor and analyze business trends. It will help you compete with other companies better, and no off-the-rack software can provide this level of utility.As of 2013, package software spending stood at 25.8%, according to ComputerWorld.

–    Business data is easier to understand. This is because since the software is custom made for you, it specifically includes the know-how of your business.

–    You control the development of the software according to your needs. You do not have to wait for upgrades to come out for a long duration or install updates that add no value to you.

How Does bespoke software help the process flow?

Integration is the key word through which bespoke software helps your process flow. Once the bespoke software is up and ready, it is integrated with the already existing IT system of the company. There will be real-time data flow between all your systems, allowing you to make better decisions and draw more comprehensive analysis.

Bespoke software can help companies achieve its end-level objectives companies quickly. You can have two printing business aiming for different things. One of them may focus on giving the fastest response while the other may focus on a high-quality end result. Bespoke software will help them achieve their ends, and an off-the-shelf software may not be up for the task.

What are the differences between the responsibilities of a CEO and CIO?

It is a single-letter difference, yet the responsibilities of a CIO and a CEO are perceived to be miles apart. The stereotypes are prevalent. Different skills for different jobs. Different eyes for different goals.

Who is CEO?

A CEO is that inspiring and visionary person who directs the business and who gets everyone moving. A CEO is that person who is more concerned about bringing in money for the business and making sure that a company’s budget does not go to waste. The CEO not only manages people inside the company; but more importantly, coordinates with fellow CEOs, government offices, and other organizations. CEOs are generalists, having to know a little bit of everything about the processes that make the business work. They evoke solutions from their teams and make them work hard to implement them. They are expected to know the purpose of the business like the back of their hands and constantly think of ways to improve.

Who is CIO?

The CIO is that tech person who works in the background. He or she sees to it that all systems are going as expected and giving everyone the data they need. He or she is that someone who protects and maintains the company’s information technology and makes use of a lot of company resources in upgrades and security measures. The CIO also takes care of all the other technical staff who are handling technical support or implementation. CIOs are usually specialists, who should know anything and everything about the information systems they are running. They tend to provide rather than elicit answers to problems. They provide the services needed to achieve the aims of the business and constantly think of solutions based on a framework. Their approach is usually a bottom-up one, looking at everything from the perspective of the end-user.

How are they similar?

What many fail to see is a very important similarity between every CIO and CEO. Both of them view their role from different perspectives, but they are both armed with knowledge of every aspect of the business.  The CIO provides the service for these to work; that is, the framework and coordination the company needs to be able to utilize the data in these areas. The CEO provides a unifying purpose in all these areas to achieve profit. That usually requires a top-down approach, always looking at the bigger picture and the bigger profit.

Thus, it is not far- fetched for a CIO to become a CEO. A CIO is armed with information that the CEO can sometimes make use of to lead the direction of the whole company. The difference between the two may, at times, just be their mind set.

What CIO is like?

In order for a CIO to become more effective they would need to widen their view and explore the extent of his or her environment. Instead of providing the service needed for the units to work, the CIO should see the bigger environment or the context within which the business units operate. they need to think ‘out of the box’ and check whether the framework needs improvement instead of working within the framework imposed by the CEO. They shouldn’t stress over details, but see the bigger picture. Instead of providing solutions, they need to inspire a team to work on their own ideas.

What CEO is like?

A CEO likewise needs to borrow a CIO’s usual skills to manage business strategy. He/she needs to make use of opportunities in technology to advance the company interests. The CEO also has to understand its information systems. That way he or she can make sure that the details needed for making the correct decisions in running the business are provided at the right time to the right audience in a way that is understandable and useable. What CEOs fail to appreciate sometimes is that costs incurred by IT translate into significant savings in other departments.

The different perspectives notwithstanding, the CEO and CIO must work hand in hand to explore every available area for improvement. In the end, running a business is a demanding and complicated task. It requires as many brains working together as it can get. The CIO-CEO dichotomy should become a thing of the past because behind the success of running any business is the seamless coordination and agreement between its CIO and CEO.

What is an algorithmic business? How to make use of algorithms? How to become an algorithmic business?

With the rich interconnections between businesses, consumers, and the general public in a digital environment, a huge amount of significant data may be collected at any given time.  Information regarding preferences, routines, needs, and wants may be assessed for developing strategies to market, sell, and efficiently deliver products and services.  The heart of algorithmic business is turning raw data into strategic business goals. And this fuels the new but very influential source of business growth in this age.

What is an algorithm?

Put simply, an algorithm is a method, formula, or procedure to accomplish a task or to solve a problem.  The most familiar examples of algorithmic businesses are the online services such as Google, Facebook, and online shopping sites.  Google’s success stemmed from its unique service, a very comprehensive search algorithm that delivers instant results.  Google’s search engine can predict search terms through the first letters typed by a user; and it even has an option for a lucky result where a website that is on top of the search results is automatically loaded. Facebook shows selected feeds from selected connections using an algorithm detecting friends whose posts have been previously liked or commented on and a bevy of other factors.  Amazon displays products that might be of interest to a user based on previous searches and purchases.

How can your business benefit from it?

While online businesses get the most obvious benefit from algorithmic computations, all kinds of businesses can benefit from it. You can use supply and demand metrics to plan inventory, come up with sales tactics, develop pricing schemes, and choose the best available routes, suppliers, and all other considerations for the business.  Knowledge of customer preferences gives an enterprise every opportunity to make services very personal and attract a loyal following.

Today, collecting data is already a given.  The issue is whether a business is able to make intelligent use of the information or not. Algorithms are no longer an exclusive enclave for mathematicians. Computers are able to do human computing tasks that take hours to complete in less than a second. Moreover, cost is no longer a problem. The price of algorithmic software is already made affordable by competition. In effect, there is no reason why businesses should not go with this trend. Following are some important features.

Efficiency in doing business

Algorithmic software helps optimize processes. Based on metrics, businesses can make optimal work, ordering, and staffing schedules based on the availability of service vehicles, numbers of customers needing services at a given time, traffic patterns, and supplier prices, amongst others. You can also use it to simplify business procedures in order to minimize waiting times, especially for customers. It enables businesses to attain a level of operational accuracy for added cost savings and ease in carrying out normal functions.

Enhanced customer interaction

Personalized services are now easy to implement with readily available information about customers.  Direct marketing is made more effective because data regarding customer preferences and their ability to buy are available and accessible. Not only that, but entities such as banks and lending companies can assess the risk profiles of customers in order to apply effective and appropriate interest rates for each one.  Predicting buying habits can also make work easier for both the customer, with heightened ease in purchasing products or services; and for the business, with the enhanced ability to predict inventory or supply needs.  Businesses can also customize their processes in response to changes in buying behaviours.

The ever changing role of CIOs

In all these, the CIO’s role transitions from just controlling data to the management of algorithms.  With the rise of algorithmic software, CIOs will need to build a new IT platform, one that is always offering new solutions. CIOs should be seen as partners to the business, not just cost centres that must be managed. IT in business is itself a profit-driver with innovative solutions to all sorts of business issues.

Driver for the Internet of Things

There will be a myriad of connections in IoT in the next few years. With all sorts of appliances, and even cars, being smart now, means it is more likely that data may be mined to provide insightful information in all areas cutting through all lifestyles.  The only way to make this mammoth amount of information intelligible and useable is with the help of algorithms.  Apps are getting smarter, catering to every whim.

Predicting all sorts of behavioural patterns will give birth to many new business ideas.  Every business should take advantage of them.