Building a 2021 Budget for Your App Development

Author: Charter Global
Published: November 17, 2020

No matter the industry, businesses have found that mobile apps have revolutionized the way they market products, make sales, and interact with customers. As more companies jump on board with an application idea, here at Charter Global, we often get asked this common question: “How much does it cost?

There are thousands of software development companies out there that can help you build your application. Each with different experiences, varying waitlists, and unique price points, which means that the cost of building an app can differ a lot. While some software development teams will cost more than others because of the knowledge and experience they bring to the table, newer developers will most likely be able to work with smaller budgets.

What Am I Getting for my Money in App Development?

Creating a successful app is a lengthy process and understanding the different phases explains why it can be expensive. The needs analysis (i.e., identifying an opportunity) is first in the design and discovery phase. Secondly, it is defining the objectives, such as what is the function of the app and what business processes will support it.

Next, the development team and the client meet to determine the scope of work (SOW), to identify the business requirements, technical requirements, and to ascertain if the two teams are a good fit to move forward with the endeavor. This is followed by researching the market and planning out ideas to develop the strategic framework.

Once the app starts to come together and it is interacting with APIs, rigorous testing is done to ensure there are no bugs or critical issues with the overall plan. Designing the app to specific criteria of the user experience (UX) is paramount! After the app is launched, the highest priority is the on-going support team to provide, maintain, and updates because you want your app to continue to be successful and in demand by your customers.

What Can Change the Total Cost of my Application Development?

There are quite a few different things that will impact how much your business will spend on developing its app. The decision of whether to use an in-house team or an “outsourced company will affect the bottom line. An outsourced team can be the less expensive route and maybe the right choice for most companies. However, a highly niched business may want to use a specialized developer within their field, which will increase the price. Whether your business is in need of a simple or a complex app, the need for on-going support and updates will also have a major impact on the final cost.

What Should I Budget For?

Keep in mind, what you pay for in the software developing world will determine the quality of the application you receive in the end. While basic applications can be created for less, a complex application will be more expensive depending on the integrations, APIs, maintenance, support, and the operating system is used.

Let our expert consultants at Charter Global help you determine just what to expect, so you can begin to develop a strategic plan and forecast your fiscal budget for your 2021 application development! schedule a consultation with Charter Global to find you the perfect fit.

Posted by Charter Global Inc. on November 17th, 2020.