What do customers in the software industry need today?

  • By Elżbieta Kostka
    • 08 Nov, 2022
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Software has become a big part of our lives. It drives a large part of everyday activities – from sending messages to using machines to serving customers. With the world around us relying more and more on technology, software innovation is growing day by day.
Companies are already feeling enormous pressure from both consumers and competitors to offer access to the latest software.

There are several major software businesses in which demand is growing rapidly.

Software for improving business practices:

With many companies operating remotely, digitally and collaboratively with third parties, it has become crucial to enable employees and customers to access and analyze data, share files, and communicate quickly. In fact, business technology has been identified as essential for high-quality work performance and employee engagement (MIT Technology Review Insights, 2022). With the growing popularity of digital workflows, companies will need to rely on software to enable team members to collaborate and maximize business processes and overall efficiency.

Software supporting customer service:

With the development of e-commerce, the demand for digital customer service software is increasing. Indeed, with existing tools such as chatbots, text and image recognition, calculators, shipment tracking services and more, customers expect these solutions from any business. Moreover, expectations for improvements in digital customer service continue to increase, adding to the existing pressure for innovative software. To stay competitive, companies need software that can provide the maximum positive service experience.

Data management software:

Data is a powerful business asset. It is obvious that failure to optimize data may increase the distance between companies and their customers. With this in mind, software that enables companies to optimize, store and use data already collected, can meet many business needs and enable companies to gain a competitive advantage.

Technological software:

With innovations and technological improvements constantly appearing on the market, conscious consumers have developed a conviction that a new, more advanced product will appear in the future. As a result, technology producers are constantly under enormous pressure to meet this expectation. Thanks to software driving many technologies that support life and business, such as mobile phones, computers and machines, the demand for advanced software that can support human activities, both on a daily basis and on a business level, continues to grow.

Data exchange software:

In recent years, individuals have become aware of the collection of their data by unauthorized third parties. As a result, a new need for software has emerged that will protect their essential goods. It can be assumed that the need related to the presented problem is data protection software. Many companies are actually looking for software that can both protect their data and allow them to sell or buy interesting information. Because data is a valuable resource for all businesses, many people feel they can create an additional revenue channel by selling secure data to others. The need for software that can safely collect, store and transmit data will be increasingly needed.

Customization of software for the client – costs and financing

Software is an essential part of the modern lifestyle. It is also an necessary component of the proper functioning of companies, regardless of the scale. As a result, there is a constant need for innovations in the IT industry that improve the competitiveness of the products and services offered. However, due to the high costs of innovative activities, the implementation of new solutions may constitute a serious barrier to development. This applies especially to smaller companies that want to create, improve and adapt software to the satisfaction and increase of digital security of customers. For them, finding funds to increase competitiveness is a much bigger challenge than for industry leaders or companies aspiring to join this group.

Income tax relief is an important tool for generating funds necessary for development. Through their daily activities aimed at research and development, IT companies can deduct a large part of the costs as part of this relief.
Its additional advantage is the fact that each company can settle the tax relief even up to five years back. This means that costs incurred during long, even multi-annual projects can be included in the tax relief.

In this process, it is worth supporting yourself with professional knowledge in the field of tax reliefs, as well as the correct qualification of projects in the company for R&D activities. This will help you maximize your savings. At Leyton, we have the practical knowledge necessary to support your company in making the best use of the R&D tax relief tool. Our technical knowledge gained thanks to projects implemented for IT companies gives us an advantage in qualifying non-obvious costs in this industry.

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    Elżbieta Kostka

    Client Business Partner

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