For those who think they’re not in the software business, it’s time to think again…
Going through your daily routine at home and at work, if you stop and notice, you will find that software is playing an ever larger role in your everyday activities. No longer is software confined to your computer. It is spreading to meet your needs wherever you are and whenever you need it. Software is on your phone, your car dashboard, your refrigerator door, your home security system, even your athletic shoes! It’s replacing the need for books, televisions, GPS’s, checkbooks, and other standalone items. With the combination of mobile, smart products, social media, data visualization and analytics, software is starting to invade every aspect of our lives as businesses realize the incredible opportunity it offers them to provide their products and services in a new way.
With this pervasion of software in today’s world, even though your firm may not be in the tech business per se, you are starting to see that software is becoming a daily means by which your customers engage with your business. Software that gives your customers new, easier, faster access to your products and services is becoming a major way to differentiate yourself from your competitors, regardless of what you make or do. Having innovative features and a compelling design that engages your customers actually gets you new business in today’s fast-paced, mobile world. That’s because no one has time today to tolerate anything less than the convenience that good software brings.
For example, a bank that provides a mobile app with the ability to deposit checks while on-the-go, or an auto insurer with an easy-to-use mobile app for capturing photos and data at a collision scene will now drive new customers to their business based primarily on the ease and accessibility that their company’s software innovation provides. This is especially true with the millennial generation, who only interact with companies that let them conduct their entire relationship through a mobile device. Therefore, software must now be considered an integral part of a company’s brand regardless of what their underlying product or service actually is.
In effect, because of this new reality, software is now what defines your brand.
Forrester Research has used the phrase “software-is-the-brand” to describe such non-tech companies who are finding that more and more of their business value is coming from software-based products and services:
It is the software that operates at key mobile customer touchpoints, defines the interaction with the consumer, and, ultimately, acts as the main product differentiator.
(Forrester Research, Inc., Non-Tech Companies Become The New Market For Software Product
Development Services, August 2013).
Forrester names the following four industries especially as becoming “increasingly software-centric”:
- Information Services
- Retail and eCommerce
- Financial Services
- Media and Entertainment
Look out for OFS’s next blog article which will highlight the software endeavors required of companies in in each industry in order to stay competitive in today’s tech world.
Also check out the upcoming event:
Tuesday, November 12, 2013
8:00 am – 12:00 pm
Yorktel, 61 Corbett Way, Eatontown, NJ 07724
Sponsored by OFS for the New Jersey Technology Council (NJTC)
Guest Speaker John McCarthy, a VP & Principal Analyst from Forrester Research, Inc., will provide major insights on how the software assets of a company represent a key part of the brand experience and the firm’s differentiation.
The session will look at the services and business implications and opportunities behind the software-as-the-brand dynamic. This program will be a wake-up call for many organizations and a warning to IT departments who wish to avoid being banished to the back office forever.
With 27 years of experience at Forrester, John McCarthy is a key contributor to Forrester’s work on predicting the business impact of technology. John has more than 12 years of insight into the development of a global delivery model for IT services and product development.