FOR BUILDING BESPOKE SOFTWARE PRODUCTS
Money matters! Spend it wisely! We help build bespoke software products on budget and on time, all in a cost-effective manner.
Just like everything else in life, all custom software projects are not equal either. They differ based on not only individual software development companies but also the following high-level characteristics:
OF SOFTWARE DEVELOPMENT COSTS
There are 4 majors cost components for custom software, and each one of them carries a different weight in the total costs. Each one is a critical item and important for a successful product development effort. The following is a rough idea of the cost distribution for these major factors based on fixed-cost projects:
Note: The cost distribution provided above is based on rough estimates. These software development costs vary based on size, complexity, and engagement model (i.e. the type of pricing model you choose, e.g. hourly rate, dedicated team etc.).
OF CUSTOM SOFTWARE
On average, the cost of custom software, based on its size and complexity, could fall in the range of:
- Small project: $10,000 – $35,000
- Medium-sized project: $40,000 – $65,000
- Large project: $70,000 and above
The actual cost for custom software, as you can imagine, would depend on many factors and can only be scoped after a detailed discovery exercise with you. Also, small/medium/large are very relative terms and could mean different things to different people and different software development companies; the estimates mentioned above are meant to give you an idea, based on our experience of delivering numerous projects over the last 7 years.
Most software development companies follow an iterative process – you don’t have to do it all in one go. Our advice for you is to choose a phased development approach for your customer software.
You can start out with an MVP (Minimum Viable Product) that features all the things that absolutely must be in the application to test the market out. Follow that with Phase 1, which adds more important features based on users’ input. Additional phases can be added as and when needed.
Let’s talk! We will provide you with a free consultation and precise estimates for software cost.