Every business or enterprise while investing thinks of the return that they would get on that investment. When it comes to measuring the ROI of enterprise applications, businesses often are not sure about the parameters which allow a company to improve its ROI.
In this blog, we will discuss some key points which will help the businesses and enterprises looking for a reliable Enterprise Application Development company. Before we discuss the core of this blog, you need to have a look at why the enterprise mobility solutions are important.
Statistics Showing Increasing Demand Of Enterprise Apps
Enterprise mobile market is expected to hit revenue mark of $430 Billion by 2021.
Around 39 % of employees surveyed admitted that they are using enterprise applications.
47 % of companies stated that they found improvement in communication and relationships and minimal disputes due to enterprise apps.
84 % of companies admitted that data capture is improved due to enterprise applications.
Meanwhile, enterprise apps have become the need of the hour and this is why more businesses want to have a solution which will improve their workflow and processes. The companies that don’t have such a solution often face various problems. Have a look below at some statistics.
61 Percent of companies found that their daily operations were not going smooth in the absence of enterprise software.
47 percent of the companies said that they lost new or existing clients
51 percent of the companies said, their software has outdated features.
The above data is due to the below three facts pertaining to the success of enterprise mobility solutions over the past few years.
Increased Productivity
A report from Adobe revealed that more than 51 percent of the companies admitted that enterprise apps bring productivity to their business. Meanwhile, more than 47 percent of the businesses said that they either lost a few of their clients or potential clients apart from their existing ones.
Higher Growth
A report suggested that by the year 2020, the enterprise app market would hit $240 billion revenue in total suggesting a higher growth rate for businesses. All of this is due to the fact that with improved efficiency in businesses, employees are able to work on research and development work which increases their growth.
Increased Usage
The benefits of enterprise mobility solutions have resulted in higher usage and higher adoption by companies and enterprises. Not only best enterprise application development companies, but also new startups are slowly going towards such solutions to streamline their day to day complexities
All these factors force businesses of course in a positive way to adopt such solutions. Let us now have a look at the features of an enterprise application.
Important Features to Have in Your Enterprise Application
Faster Data Capture
Data drives businesses towards faster conversation and taking faster and reliable decisions. You must ask your mobile app developer to make data access faster by efficiently managing a database. Remember that faster data capture brings more time for analysing the mistakes and working on your enterprises’ goals.
Real-Time Access
In the absence of an enterprise app, even a top enterprise app development company could not bring the results that they wish to. Bringing enterprises on mobile would mean that they can easily view the important data, and do activities like downloading, sharing information, and uploading in real time.
Scalability
Developing an enterprise application allows you to make changes in your team size. It is extremely beneficial in situations when you wish to take your business to the next level and require altering the size of your team.
Information Sharing
An enterprise application improves the way departments communicate for resource or information sharing. Often businesses find it difficult to share information that can easily be accessed by different departments. Some businesses look for an ERP solution which is essentially what an enterprise needs. The same task could be done with a mobile application in a reliable way.
Security
Security is a major concern while you decide to go with a specific Mobile App Development Company. The reason being most of the data an enterprise has is sensitive. And often rival businesses or hackers try to breach your security system. An enterprise app could be made with cryptographic methods which will make sure your data is safe.
Heavy Integration
The main reason for building an enterprise application is to have all the essential functionality under one umbrella. This includes emails, social media links, other essential tools for payment, sharing, etc. Having all important integrations would allow your employees to function efficiently.
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Having discussed all the essential features of an enterprise app, it’s time to look at what Return on Investment does enterprise app provides.
Measuring the ROI of an Enterprise Application
In order to understand, how to improve your business’s ROI on enterprise apps, it is essential to know how you can measure the ROI. So basically, there are 3 steps that can lead you to measure ROI and then improve it.
Investment Cost
You need to have a look at the cost it took to build your enterprise solution. If you are just about to build your enterprise mobile application, then you can consider checking out or contacting a reliable mobile app development company for getting near about analysis of development cost.
Estimating KPI
Next, you need to look at what your enterprise application has provided you in due course of time. It can be anything related to increased sales, or orders, improved business rankings, minimised response time, etc. All you need to do is to analyse the figures of pre and post-development of your enterprise app.
Measuring ROI
Once you have estimated the probable increase in your business through the key performance index, the next thing to do is to calculate the ROI. This will help you to find out what your previous enterprise application development company has done for your business. Moreover, you can make strategies to improve your ROI.
Tips to Improve ROI for your Enterprise Mobile Applications
Once you have made a solution which will every day be used, it will obviously have some positive impacts. But there are some ways which can help you improve the ROI. Have a look at the strategies for improving ROI for enterprise apps.
Iteration is Necessary
Iteration is essential as it allows you to know which features your employees are finding easier to use and brings more efficiency. This helps you to determine which are the loopholes or points to improve. Continuous testing and optimising code can help you reach your goal.
Improve User Interface
Whether you have built an enterprise web application or enterprise mobile application, a User interface is important to let end users find it comfortable to use. Find out which features in design are not being liked by users. A smart enterprise app can even let you know how much time you spend on a particular screen or segment of the application.
Inter-department operations
Some mobile app development companies are being asked to make enterprise applications with specific segments for each department. We feel the same, however, letting other departments have an idea of what a particular department is doing can minimise inter-department dependency.
Advance Technology
If you have not already integrated your enterprise application with the latest technologies like artificial intelligence which includes machine learning and chat bots, then it is about the time you start implementing such technologies. It will bring automation and interaction with your employees to a great extent.
Add New Features
Though it comes under the designing part, we think it is extremely important to let things simple and crisp in front of you. Now that your enterprise is using some features, obviously not all of the necessary ones will be there for your employees to use. This is where you can brainstorm and add some important functionality to it.
Wrapping Up
The only reason to start having an enterprise application is to drive growth and revenue and streamline all the complexities and process. We hope that the above set of points will help you to make a well-concerted decision regarding improving your business’s ROI.
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