When we evaluate software, we consider common use cases, ideal feature sets, ease of implementation, customization options and design. However, competing alongside multi-use CRMs, CMSs, document management systems and e-commerce products are specialized solutions designed with a narrower user-set in mind.
Examples of industry specific solutions include products such as ReThinkCRM, a real estate CRM specifically for commercial brokers; Vinsight, a business software specifically for wineries; mycase, an all in one management solution for law firms; and a bevy of ERPs for everything from food and beverage purveyors to manufacturing companies to design firms. While the starting costs for industry specific solutions vary widely according to feature set and business focus (Enterprise vs. SMB), they generally tend to be more expensive than their broad-use counterparts.
So, when are those niche software products the right fit for your business? We reached out to analysts, business owners and longtime SaaS users to get their take on industry specific solutions, general-use SaaS products, and the best way to approach making an informed buying decision.
Industry Solutions Come with Industry Features
One reason many business owners cited for choosing industry specific solutions was keeping up with the competition. Many SMB users believe that their biggest competitors already use industry products, and that passing on such solutions in favor of one-size-fits-all software may cost them sales in the long run. Indeed, industry specific products do bring features to the table that general software doesn’t.
Built with Specific Users in Mind
Stephen Babcock, a lawyer and founding partner at Babcock Partners, believes industry specific software adds value not only in terms of keeping up with the competition, but because of the way it’s created.
“Industry specific software allows you to benefit from many other businesses such as yours who have had input into the coding of the software,” Babcock told Business News Daily. “Software coders are software coders. When they are writing software for a specific industry they almost always seek extensive input from people in the field for updates and functionality.”
Babcock brings up a good point. When general software solutions are designed, they’re created with the most popular use cases in mind, and some industries may have to do substantial customizations to make out of the box solutions work for them. It’s no wonder that many businesses, like Babcock’s law firm, opt for industry specific solutions like Needles, a legal case management software, which he says offers them features that generic software can’t match.
Read more: https://www.businessnewsdaily.com/10951-niche-software-pros-cons.html