An Independent Software Vendor (ISV) is defined as any software publisher or organization specializing in the generation, development, and distribution of enterprise software by licensing agreements with individual end-users and businesses. However, the ISV company retains all ownership and intellectual property rights over its software. The ISV industry is expected to reach a market valuation of $408.15 million by 2026.
However, although the software and ISV industry are currently extremely lucrative, as digital technology develops exponentially and market trends evolve, many ISVs may face challenges such as issues with cloud migration, testing processes during the application development cycle, mobile optimization, and third-party feature integration.
Meeting the demand for new product deliveries is another issue that vendors face provided that software development takes a lot of time. Even after the delivery, the solutions require maintenance and error handling which is another major challenge that ISVs face.
Challenges That ISV Companies Face
1) Product Development and Maintenance
Software development takes a lot of time. Even after a software is fully developed, its testing, modification, and delivery is a lengthy process.
A low-code platform can help shorten the development time. Anyone can use low-code’s graphical interface to build the basic parts of the software. Planet Crust’s low-code development platform comes with several pre-built modules and drag-and-drop features that make software development easy.
While low-code is an excellent addition to an ISV’s development processes, it cannot replace the expertise and skills of professional coders. Low-code works in tandem with developers and allows them to focus their time on more complex operations in a program that requires advanced skills.
2) Cloud Migration
Studies have shown that 94% of enterprises use the cloud for various business processes. Therefore, many ISV companies have begun to offer cloud-based solutions to end-users. However, many ISV companies may face challenges related to cloud migration such as the amount of time required for its completion and cross-platform compatibility.
Therefore, to address issues such as speed and cross-platform compatibility, ISV companies can develop comprehensive and holistic cloud migration strategies that take into account the time required for completion and utilize cloud-based platforms that enable integration.
3) Testing Processes During Application Development
One of the most challenging aspects of the application development process is testing software and source code prototypes at each stage of development. Furthermore, testing individual software prototypes manually is not only time-consuming but may require large amounts of financial and human resources.
With the help of low-code, ISVs can be streamlining testing in a way that they need not worry about the source code, but can instead focus on their applications. Low-code platform providers generally perform a lot of tests on the functionality and efficiency of the modules.
Collaborating on an open-source low-code platform can also reduce the need for testing as open-source code is constantly scrutinized and tested by numerous developers. Moreover, an open-source low-code provider will also work as a de facto external development department.
4) Third-Party Integration
ISV software must be able to integrate with third-party systems and platforms for businesses to be able to effectively utilize it.
Therefore, ISV companies must ensure that their generated enterprise software is compatible with external systems and products. ISV companies can address issues related to third-party integration and compatibility by partnering with groups of solution providers to increase efficiency and accuracy.
To address the challenges facing ISVs, one of the best solutions is low-code platforms. You can read more here about the top low-code platforms and their pros and cons here.
Planet Crust – Create Your Own Applications
There are various solutions in the market that can address the issues ISVs face. To address the challenges facing ISVs, one of the best solutions is low-code platforms. You can read more here about the top low-code platforms and their pros and cons here. Planet Crust’s open-source, low-code platform consolidates all these solutions. Their cloud-ready platform allows seamless software development that is faster and safer.
Planet Crust’s API-centric low-code solution is equipped with pre-built software modules and drag-and-drop builders that significantly help reduce development time. The source code of Planet Crust is open-source, which means that it has already been tested by people who have collaborated on it.
Try a demo so that your business can take advantage of the various benefits of Planet Crust’s low-code technology to develop robust enterprise applications.