With the evolution of digital technology and digital software, innovative solutions are continuously being integrated into a wide variety of modern day-to-day business functions. Which company does not desire an application that is tailor-made to suit their needs?
Consequently, ISV companies have been faced with an unprecedented demand for custom-built software. Therefore, it is crucial for ISVs to consistently adapt to growing demands for custom-built software.
However, it can be extremely difficult for ISV companies to adapt to changing consumer expectations and market trends using traditional application development approaches. Development, testing, and maintenance of custom-built applications is not only time-consuming, but a process that requires ample manpower, infrastructure, and strategic planning.
Even if developers do everything right, unprecedented needs for modification can always arise in software owing to erratic market trends and evolving infrastructure in various industries. Therefore, ISV companies must ensure that they are consistently evolving their application development strategies to facilitate digital transformation and product development.
To tackle the high-demand and unpredictable needs of the customers, ISVs should develop a proactive approach toward software development. With the adoption of agile development methods and modern app development practices, ISVs can easily increase their output efficiency and significantly decrease their technical debt.
What Is An ISV?
An ISV is defined as any software publisher or enterprise that specializes in the generation, distribution, and development of commercial software by licensing agreements with organizations or individual end-users.
However, the ISV company retains all intellectual property and ownership rights of the software. The software that ISV companies create usually runs on one or more operating systems and or computer hardware.
Many ISV companies partner with larger technology organizations such as Microsoft, Oracle, Apple, Salesforce, and IBM to obtain the necessary funding, digital infrastructure, and industry connections they require for long-term development and success.
What Are Modern App Development Approaches?
1) Artificial Intelligence
Recent studies have shown that the global AI industry is expected to reach a market value of approximately $267 billion by the year 2027. Therefore, it is crucial for ISV companies to integrate and inculcate the use of AI into the user interface and business logic tiers of their various solutions.
AI can provide ISV companies with a wide variety of benefits such as increased consumer engagement through the use of automated chatbots, voice-typing, and translation as well as operational improvements such as personalized consumer communication, data analysis, automated inconsistency recognition, and documentation.
2) API Integration
An application programming interface (API) enables organizations to integrate data from numerous different applications and software interfaces to third-party solutions. Integrating APIs into certain applications can enable ISV companies to easily access data from multiple third-party sources, update databases in real-time, improve cross-departmental connectivity, improve data collection methods and provide opportunities for collaboration. This will not only help improve organizational productivity in the long run but will also significantly improve customer experiences.
Furthermore, integrating APIs into digital solutions can help businesses avoid having to conduct manual data retrieval processes and backup procedures, which can make business operations much more efficient than ever before.
One of the biggest concerns for any ISV company is ensuring that solutions have multiple layers of security and encryption. Therefore, modern application development processes can help ISV companies leverage the power of automation tools to identify and address vulnerabilities in the source code of enterprise applications.
Furthermore, modern application development approaches can help ISV companies establish centralized encryption policies that can help establish holistic and comprehensive security standards.
4) Cloud-Ready Architecture
Cloud-based solutions can enable ISV companies to reduce time delays associated with accessing data, respond to consumer queries faster and build highly secure and scalable enterprise applications faster than ever before. Recent studies have shown that 67% of current enterprise infrastructure is cloud-based. Therefore, ISV companies can benefit greatly from implementing cloud adaptability into existing and new solutions.
According to Mckinsey, 45% of work activities can be automated using existing technology. Therefore, ISV companies should continue to integrate automation technology into enterprise solutions to help customers improve customer experiences, mitigate potential issues, and ultimately improve future productivity.
Types Of ISVs That Are Benefitting From Modern App Approaches:
1) B2B Vendors
Due to changing consumer expectations and evolutions in terms of available digital technology, many organizations may require multiple different digital systems at any given point in time to keep up. Therefore, organizations are often required to procure external, third-party software to satisfy their operational requirements.
However, B2B vendors that have been able to integrate modern application development approaches into their current product development have been able to create and distribute software that satisfies numerous different requirements at once. This will ultimately help improve profitability in the long run.
2) B2C Vendors
With such rapid changes in digital systems, consumers may find it difficult to understand complicated user interfaces and intricate digital systems. Therefore, many B2C vendors have been able to benefit from modern application development approaches by simplifying convoluted digital systems with the help of integration and automation.
3) Specialized Enterprise Software Vendors
Specialized enterprise software vendors are ISV companies that provide organizations with solutions in highly specific domains and business functions. Therefore, modern application development approaches can enable specialized enterprise software vendors to create dynamic, highly regulated, and controlled digital environments.
Planet Crust – Facilitate Modern Application Development
Planet Crust’s low-code platform Corteza is the perfect tool to help ISV companies benefit from modern application development approaches. Corteza has easy-to-use visual builders, a cloud-ready architecture, and instant deployment features. Try the versatile low-code platform for seven days and experience the benefits of modern app development.