Why Database Development is Crucial for Software Companies

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Without question, the software industry is a data-driven environment. In fact, IT companies are dependent on data, and there is no chance of your business surviving without it; if there is no data, how would your company monitor sales figures or find opportunistic sale gaps to further develop the business? Undoubtedly, it is data that is the mainspring of all IT businesses – and its crucial position means that it should be managed in a well-organised fashion for optimum advantage. The best way that this can be achieved is by implementing a high-quality database; a computer-based collection of organised data used to support a firm’s activities.

Before database development emerged in the 60s, data could only be stored as paper records; it was a time when businesses ran out of physical storage space for their ever-growing compilation of data, documents were being lost or misplaced in incorrect files, and damaged from wear and tear – or in extreme cases – crucified in a fire or drenched in a flood. But, thankfully, over the last few decades, database development has rapidly evolved, and has become greatly ubiquitous in software companies. Not only has it saved software companies from those strings of disasters, but it has become the backbone for the business. The key purpose of a database is to provide a suitable and efficient way to access and store information, and the methodical structure and creation of databases has become a business in its own right.

Now, ask yourself one question – how is your software company coping without the overlooked benefits of a high-quality database system? Not as great as it could be! Without database development, software companies are prone to be a in a state of disarray, and this is why you need a database to shape your business-data into a well-functioning machine to enhance its ability to grow.

This article will provide examples on why Database Development should be an essential feature in the operation of your software company.

 

Data Sharing

In your software company, there will be tasks that require team collaboration or cause employees to be dependent on one another. A database is designed for multiple users, and allows data to be accessed in one central location; this feature gives your employees the opportunity to easily switch between projects, and build upon existing work without any delays, such as having to chase-up work from fellow team members.

Also, databases track changes and store it immediately, allowing employees to remain up-to-date with information at all times, and avoids disjointed processes and inaccuracies. All changes made to data on a database is monitored so users can see which user conducted the last updates, so if you have any queries or issues you know exactly who to approach. The sharing of resources on a database promotes a collaborative work environment and a stronger connection between co-workers. Not only are employees able to confer on documents, but they have the opportunity to combine their knowledge, strongest skills and abilities in order to strengthen the productivity of the business as a whole.

 

Data Availability 

If anything, the extent to which data is available in your software company plays a significant role in the productivity of your business. As an IT specialist, you need to access information everyday to carry out your daily duties, and ensure company aims and objectives are being met. Unlike paper records, a database allows you to access data anywhere at any time, which can make work life less stressful and easier to manage. For example, think about how inconvenient (and unprofessional) it would be to attend a meeting having accidentally left behind important documentation – or perhaps – you realised your meeting could have benefited from other documentation left at work; the meeting would be a complete waste of time or not as productive as it could have been. With a database, you can gain access from your laptop and whip up all the data you need to have a productive meeting. Another significant fact you need to consider is that more than one person may need access to certain information, so taking paper records off work premises may inconvenience your co-workers. Because databases store all data in one central place and can have multiple users, data can be accessed simultaneously, so others can access any information they need. Twenty-four-seven access to data grants you the flexibility to work in any environment at your own convenience, providing no limitation on productivity for yourself and your colleagues.

 

(Image: Pexels)

 

Time Saving

In a hectic software company, time management is very precious when needing to carry out the firm’s numerous activities; therefore, you cannot be distracted by petty (and avoidable) inconveniences. A comprehensive database will save you ample time when searching for specific information; it features powerful tools that ensure data can be found easily, for example, Query Language is a function that uses a specialised computer-programmed language that helps narrow down vast search results to extract data quickly. Remember when you suddenly needed to retrieve specific information for a client, or the time you had to recall discussions from your last business call? Instead of wasting time rummaging through files or stacks of paper (and keeping your client waiting for a few minutes), you can locate what you need with just a few taps on a computerised database. Not only would this save you from wasting your client’s time, but it emphasises the prompt and exceptional service you’re providing them, and makes you appear organised and professional; a great look if you are in the process of generating new leads or upselling.

On a grander scale, creating reports are essential in tracking the progress of your software company. Instead of spending hours creating reports in Excel from scratch and extracting data from various sources to make up the report, databases have reporting tools whereby it examines all the relevant information in your database, to provide an overall analysis of activities in your business, such as the latest sale figures or how much ROI your company made this month in comparison to the previous.

With an expanding software company, at some point you will need to upload new data, export data, or edit/ delete old data, which can be time-consuming. When using a database, it saves you a lot of time from being pulled away from more important duties, as you do not need to photocopy or print documentation, or distribute data via email, and you can quickly adjust and merge documentation, instead of having to retype and file documents.

 

(Image: Pexels)

 

Database Security 

When you work in a company that provides services for other businesses, you are in possession of substantial amounts of highly sensitive and confidential information, such as contact details, payment details and sales figures.  In order to sustain the integrity and reputation of your software company, as well as adhering to company policies, you will need to protect this data and ensure it is out of reach from internal and external intruders. The only way to ensure maximum security is by using a database and setting up a database security solution, such as McAfee Software. Database security can detect security gaps, threats and vulnerabilities on your database that you may not be aware of, and can provide recommendations to solve these problems; this feature protects your data from cyber-hackers, who are becoming more skilled in exploiting databases. Although is it beneficial that databases allow multiple users, breaches can be conducted by internal users; in some cases, employees may be only allowed to access information that is relevant to them or their department. Databases can control access to certain data resources and can prevent specific users from modifying data; this can be done through database access policies, such as passwords. Database security allows you to gain visibility into all database activity and features special sensors that can alert you on any activity that appears suspicious, to protect data and prevent unauthorised access.

 

Saving Money &  Generating More Profit

In the long run, database development will save your software company a lot of money. One of the biggest disadvantages of not using a computerised database system is the overlooked expenses of paper, storage, stationery and other office supplies that add up very quickly and can become a significant expense, especially in larger software companies. With databases, there is usually a fixed monthly cost to keep the database up and running, which makes it easier for your company to budget their finances. Unlike stationery supplies that will always need replenishing – and cost more money – the mass storage capacity on databases will save a lot of money, as it can hold a tremendous amount of data in one compact space.

In relation to business growth, a database can generate more money for your company, as you can develop your software company by proposing larger offers and inflating the costs of your products and services. By using a database, you can discover better marketing opportunities from the types of data it gathers. For example, you can see what services and products that are, or likely to, trigger a spark in demand, and this gives you a head start in generating better deals with clients and keeping ahead of competitors.

 

(Image: Pexels)

 

Key Takeaways:

• Database management is a great tool to minimise expenditure and generate more money for your software company.
• Implementing a database encourages fast and proficient productivity for your software company, enhancing its ability to grow further.
• A database is an efficient method to keep your software company’s data well-organised and secure, so it can be easily retrieved and prevent unauthorised access.

 

Now that you are aware of the great impacts a database can have on your software company, call VSL today for expert advice on finding the best database for you, and watch your company blast off into a highly-productive and profitable business.

 

 

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Tags: Database Development, database security, ROI, software companies

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