What makes a niche software house successful?
There are many reasons why a software company can be successful, yet far more reasons why one may fail, as evidenced by the number of start-ups that do not survive their first year.
The fundamental issue to survival is to understand the requirements of the industry that your product is targeting. There are typically two reasons why an organisation may buy software from a vendor.
Time compression; to gain business efficiencies by automating previously manual tasks.
Regulatory; to comply with requirements such as audit, compliance, and legal necessities.
An understanding therefore of both the business processes of the industry, and regulatory framework that it operates in, is key to the design of successful software. Employing staff that have previously worked or had direct industry experience is critical, as is involving key stakeholders from the industry in the design of the product.
When these concepts are implemented, a software house is enabled to understand the benefits of the software that it develops and apply metrics to measure the true value to the customer. Clearly defining the value proposition for your target markets allows you to speak openly and confidently when presenting to prospective clients.
“We have a senior team with around 200 combined years of industry experience”, says Cenata Manging Director Nick Freer. “I know that when I and my team speak to customers that we understand their challenges and can explain how we can solve their problems with our innovative solutions.”
Once you have the knowledge in place as a first stage, the next element is to be able to exploit the latest technology.
The technology landscape is always changing, and the speed of change is increasing, therefore selecting the most appropriate technology, and nsuring that it is effectively maintained to continue supporting your competitive commercial edge.
“The pandemic has shown the importance of having true cloud deployable software”, says Cenata CIO, Roman Kolvashenko. “We see problems with older technology stacks being deployed and pitched as ‘cloud offerings’, especially around performance and connectivity. All of our offerings are developed using proven modern technology in a cloud environment”.
Finally, and most importantly, the team is the key part of any business.
Nick Freer continues “We look for two things when we recruit. Firstly, we look for the brightest talent. Secondly, and more importantly, we look for those that buy into what we are trying to achieve and are aligned with our cultural and ethical values of inclusivity and diversity. We have a team of experienced, highly educated people all pulling in the same direction”.