Logidots has been listed as one among 50 Smartest Companies of 2019, by SiliconReview. Logidots’ position in this top list of smartest companies exemplifies its fast growth, top performance and very good reputation among its customers.
This list of smartest 50 companies includes some of the world’s largest organizations and startups that are disrupting markets using modern technologies including Artificial Intelligence and Blockchain.
If you’ve ever tried to get an app built for your business, you might already know this. You send your RFQ to several app development companies (small, medium or giants) or freelancers and the quote that you get from them will be so diverse that you can’t even do a comparison. That is because the real cost of building an app is complex than you think.
It is not easy to calculate how much it will cost to develop your app. When I say app, it can be anything, a mobile app, a web app, a complete SaaS product, anything. It can range from $5000 to millions depending on the complexity and nature of your app development engagement. In this article, I will try to guide you on how to estimate the budget to build and maintain your application.
What are you going to build? It’s more than your one-line idea.
This is the first thing you need to figure out before you allocate your budget for your app development project.
Do you just have a brief idea about what you want to build? Or are you able to sketch down a simple wireframe of what you’re trying to build? Or are knowledged enough to make a full-fledged plan of the entire app project?
Well, depending on which stage you are in, you may or may not require a consultant before you can start building your app. A good consultant can help you strategize your idea, and plan a well-defined product development roadmap which will make the app development process efficient and guarantee that you will build something that you’ve imagined.
“I want to build an app like Uber, but for trucks!” – Unfortunately, that is not enough for a developer to start working on your app. You need to write down what you’re trying to achieve with this app, how each of its features is going to work, what is the value delivered to your app users? How will you manage and control your app as an administrator?
There are many questions that need a detailed answer before you can even think of building your app. An experienced consultant who has expertise in working with similar app projects is necessary at this stage.
Converting your idea into a detailed app development plan.
Depends on the nature of the idea. Anywhere from 5 days to several months
From $1000 to $100K+
Cost of avoiding this step
Your app development project will be a bumpy ride with many uncertainties and in the end, you may not get what you needed.
Your app needs a design! But it’s not just about colors.
Now you know what are you going to build, and what to expect from your app development project. It’s not just a one-line idea anymore!
But wait, you are not yet ready to tell your development team to start writing code for your application. You need to finalize how your app is going to look and feel for your users. Yes, the Design!
Design is not just about the look and colors, it’s more about the experience of your app. Depending on your target users, you need to spend some time to figure out how to arrange components in your app, design the information flow so that your users won’t feel irritated.
I’ve seen several people avoiding design stage in building their app, and the end result is horrible. Most of the time, such apps will cause headaches to users because of the odd design and user experience. It might be hard to spot for you because the app is your baby, but for others, they can easily get bored if the design is not proper.
You need a good interface and user experience designer to translate your project plan into a user-friendly application mockup. They will design your app screens in such a way that it follows the basic human-computer interaction rules and standards of software applications.
Designing the interface and experience of your app.
Experienced UI/UX designers with knowledge in working on similar apps.
Depends on the nature of the idea. Anywhere from 15 days to 3 months
From $2000 to $50K+
Cost of avoiding this step
Your app will be difficult to use and the chances of your app getting abandoned will be high.
Conversion of your idea to a usable app – Development
Finally, you have a plan, you have the design, and now you can dive into the phase where your idea gets converted into an application. This is the phase where you need developers to write code to turn your idea into reality.
Depending on the complexity and nature of your app, you might need one, or a team of developers to work on your project.
Tips to find the best developer for your app
A typical app often requires a front-end and back-end programmer. When you look for programmers, you should never look for the one who charges the minimum, instead –
Ask if they have built similar apps and if the apps are available on PlayStore or AppStore, have a look. Also, check the reviews section to know if the app is buggy or if users love it. Those signs will let you know whether you should choose the developer or not.
What if your app becomes successful and you get several hundred thousands of downloads? Is the developer capable of building it in such a way that it can handle huge userbase? Most cheap freelancers might not have experience in handling such rare cases.
Are they available to support you after the app development has finished? You will need them to support and maintain your app. So never choose someone who will disappear when development is complete.
Development is the stage where you need to spend most of the money. A typical developer (one that matches the above criteria) will charge anywhere from $15 to $50 dollars per hour in India, and it can be in the range of $100 – $200 in the US or Europe.
Writing code for your app.
Experienced software architects and programmers.
Depends on the nature of the idea. Anywhere from 1 month to several months
From $5000 to Millions
Cost of avoiding this step
You cannot avoid this step 😉
Testing and QA
Now you have the app built! Congrats. But is it ready to use? How will you know? Do you know how your users will use your app?
Testing and Quality Assurance is an important step that you cannot avoid in an app development project. Of course, the development team will do basic testing, but that is not enough to make your app perfect. Your app will be used by thousands of users and each of them will be using it in their own ways.
When it comes to testing, it is not just about a single person manually testing the app and certifying it as done. It is way more difficult and time taking than it looks. Let me explain.
Your users might use Windows, Linux, Android or iOS, and each of their device screen sizes is totally different from your tester’s device. How will you make sure that your app will work perfectly in all devices, all screen sizes, and all specifications?
Testing is not a one-time process. Imagine your tester finished testing your app. Then your developer implemented a new feature. Now, there is a huge chance that it might have introduced a bug. So your tester has to test the app again, and remember, on all devices! Not practical, right? There is only one solution – You need to invest in test automation!
Testing is not just about finding bugs. You need to find security flaws too. Depending on the sensitivity of data stored in your app, you need to do a security audit to ensure that your customers’ data is safe. Government regulations are becoming so strict about handling user’s data that you could land you in court and end up paying millions as fine.
Testing and Quality Analysis of your app.
Experienced software testers and automation testing strategy.
Depends on the nature of the app. Anywhere from a few days to months.
Around 30 – 40% of your total app development cost.
Cost of avoiding this step
You will be bombarded with complaints from users about your buggy software and end up spoiling your reputation
Guides and Documentations
Finally, you have built and tested your app and it’s ready to use. But wait, you or your users may not know how to use it.
Well, it happens when you are building complex apps. You are the one who described the idea. But your software has become so huge that even you don’t know how to use some features properly.
Having experience working in multiple software development projects, the most common thing I’ve to do is to repeatedly teach the customer how to use their app.
Proper documentation and user guides are necessary for any app. We are humans and our memory time span is limited for certain things that we don’t continuously deal with.
After the development team has delivered your software, they will forget how it was developed and becomes extremely harder for them to figure out technical details later. So it is important to document your app properly.
Documenting your app and preparation of user guides.
Good Technical writers
Technical writers charge around $20/Hr in the US.
Cost of avoiding this step
You will have a hard time debugging your app after some months, and extremely difficult to modify or add new features later.
Backend and Delivery Infrastructure
Your app needs to be hosted on a server in order for everyone to access it. This is an important part of software delivery.
These days, all apps are cloud-based and not on-premise. That means anyone who has access to the internet can use these apps, unlike apps that can be accessed only on a single device where it is installed.
You need a good cloud-based infrastructure to host your application. Amazon Web Services, Microsoft Azure, Google Cloud, etc are some of the reputed cloud hosting providers and they have a variety of services that you can choose depending on the nature and the number of users.
It is important to choose a reputed cloud hosting provider or else you will have to face issues in your app availability and thus the user experience.
Hosting your app’s backend on a cloud server.
Cloud infrastructure and experienced server administrators.
Recurring monthly costs ranging from $30 to $10K or more.
Cost of avoiding this step
You cannot avoid this step if your app has a backend.
You need someone to look after your app – Support, Maintenance, and Monitoring
Finally, you’ve released your app and your userbase is increasing day by day and you’re making millions every year. End of the story?
No, unless you’re lucky, it never happens. A software will never work continuously for years just like most people would imagine. This is where the role of support and maintenance comes becomes necessary.
Especially in the rapidly changing world of technology, your software can quickly get outdated. Not sure how? let me explain. Your app was built and tested to run on Android 10.0 device. And after one year, Android 11.0 was released and they made some new changes in 11.0 that are not compatible with your app. Soon, your users will upgrade their phones to 11.0 and your app will not work anymore! You’re not realizing this because you think your software will work continuously without issues until the end of the world. And soon, you’ll go out of business!
Your app is like a car or your house. It needs regular monitoring and maintenance to ensure it’s working smoothly, fix parts that are wearing out, do some enhancement to cope with the change in environment (Operating Systems), or to find out if an attacker is exploiting your app.
Most people never see the value in investing in software maintenance or monitoring unless they land in some trouble. But, at that time it will be costly and time-consuming to find support to fix your app, or it will be too late that you’ve started losing the trust of your users.
Invest in a team to keep your app healthy and to monitor it’s performance as long as you have customers. They will use manual and automated tools to keep track of your app usage and do regular bug fixing and updates to ensure your app always usable.
Keeping your app up and live for your customers.
Developers, Monitoring Tools and Support Staff.
As long as you have users.
You need to spend around 20 – 30% of your total development cost.
Cost of avoiding this step
Your app will get outdated, become buggy, become vulnerable to security threats, and become slow due to an increase in the number of users.
Now that you’ve understood the basic components that add to the real cost of building an app. However, most people don’t have any idea about these steps other than development. Just to summarise, the real costs associated with an app development project are – Ideation and Consultation, Design, Development, Testing & QA, User Guides and Documentation, Infrastructure cost, Maintenance, and Support.
Typically, a medium complexity app (say, for example, a simple version of Uber) for both Android and iOS, along with web administrator backend will cost around $50,000 and will cost you $10K annually for its maintenance and infrastructure.
You might be able to find companies and people who can develop apps much cheaper than what I’ve explained here. But there is a lesser chance of getting it delivered and the journey might not be something you’ll love to experience 😉
Facial recognition technology is now becoming known for everyone since it is being used to unlock mobile phones and laptops just by looking at your device. It is faster and convenient because you don’t have to remember and type your pin number each time when you want to unlock your phone.
The same technology can be used to simplify the registration and check-in process at events and expos. The prevailing process of event registration is completely manual or based on barcode scanning. Either the customer has to carry a print out of their registration confirmation or to carry a PDF copy on their phone.
Facial recognition can make the check-in process more convenient for the event attendees and organizers by transforming the event registration process. Here is how.
For large events with thousands of attendees, the major bottleneck will be at the registration/check-in counter. Since it is practically impossible to increase the number of registration stands beyond a limit, improving the speed of the check-in process is the best solution to avoid an unwanted rush.
Along with normal check-in counters, the event can have some facial recognition enabled check-in counters, where the attendee can get his badge printed within 10seconds just by looking at the camera.
This improves attendee satisfaction as they don’t have to carry a printout or scan through their messages or email to find the registration PDF.
Facial registration counters can facilitate self-service check-in process. On an average, a facial recognition enabled self-checkin counter can handle around 400 attendees per hour
Personalize Check-in Experience
It is possible to create a personalized experience at the check-in booth by recognizing the attendee’s face and welcoming him with a personalized greeting. This can create a wow-experience for the attendees.
This level of personalized experience is not possible in normal check-in booths, where the volunteer doesn’t know the attendee before they give the registration printout.
Talk to us to know how Logidots’ Machine Learning solutions can transform the check-in experience of your event.
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If you like to learn more about our services, and how we can transform your organization to build better software products, visit our website – https://www.logidots.com
Netflix, the world’s most popular subscription-based video streaming service, is known for using many Artificial Intelligence enabled services to provide better customer experience to their users. The most popular among these is it’s content recommendation engine that suggests movies and series to users.
In an academic paper by Netflix’s chief product officer, they mentioned that, Netflix saves around $1B every year through combined effect of personlisation and recommendation.
Netflix found that, a typical user who searches for content loses their interest after 60 – 90 seconds of searching. Here the problem is that, if the user is not able to find an interesting content within that time, the risk of abandoning the service is pretty high.
That’s where the role of recommendation engine is critical. It predicts contents that the user might be interested in, based on several factors and presents to the user in few seconds. This prevents the user from abandoning their service due to “non-availability” of interesting contents.
By calculating the number of users who might leave because of the above reason, Netflix estimates it to be around $1B or more every year. That’s why the AI based recommendation engine is worth a lot to the company.
AI and Machine learning continuous to be one of the most discussed technologies of all time. Unlike other fads that come and vanish, AI is definitely impacting human lives in many ways in the form of machine vision, smart predictions, autonomous cars etc
But, can Machine Learning accelerate the development of bespoke software and enhance the whole Software Development Lifecycle? AI can be applied to many areas in software development to make the process more efficient and faster. A 2016 Forrester Research survey, reveals that AI can even write code!
Here are some ways in which AI will improve bespoke software development.
Ideation and Planning
If you’ve been in the role of a Software Project Manager, you know how challenging that job is. Identifying product requirements properly from the stake holders, translating them to user stories and developer tasks, accomodating changes in requirement without breaking existing features.. The list goes on.
A study reveals that, 75% of custom software development projects either fail, exceed bugets or miss deadlines.
This is where Machine Learning can help. By analyzing data from several past projects, we might be able to build an automated system that translates requirements, or wireframes to actual user stories and developer tasks, and even assign them to right developers, which can reduce the project planning time by a huge extent.
Also, by analyzing previous data, a deep learning system can estimate tasks, where humans often make mistakes, and it can even predict risks and delays.
Design and Development
This is the major phase in SDLC life cycle, where human talent cannot be simply replaced, as it involves creativity and several other abilities which require human brains.
But still, we can see the growth in No-Code/Low-code platforms which significantly reduces the time in building applications.
Such platforms will continue to emerge and with Machine Learning, they’ll be more powerful enough to develop even enterprise applications without the need of a developer writing code from scratch.
However, we’re still years away from building such an AI system that can build a custom applications without human developers.
This is another area where AI is already making a huge impact. Manual Software Testing is time consuming, and with Agile methodologies, doing continuous testing is not always practical.
Machine learning can do code reviews by analyzing several thousands of opensource code bases available on the web. By pattern recognition, an AI system can predict and suggest improvement for a codeblock, and even auto-correct buggy code.
This will speed up the debugging process and human QA analysts can focus on testing the general usability (UI/UX) aspects of the software instead of trying to find and report functional / syntax errors.
Once AI completely automate test case preparation and testing process, the delivery time and quality of software can be significantly improved.
Even though we’re still far away from building fully automated software development systems, We can be sure that AI will play a massive role in the way how we develop software in the coming years.
How do you think AI will impact software development? Let us know in the comments!
Over the past few years, there is a steep increase in customer’s love towards self-service interactions. And this is why companies are investing their presence in every messenger platforms where their customers are present.
AI is disrupting every industry and insurance is no exception. Chatbots are one among the AI enabled tools that caught attention of enterprise CIOs because of the ROI it delivers. Chatbots with natural language processing capability helps in enhancing customer experience by providing an Onmi-channel experience to engage with customers across multiple platforms like Facebook, WhatsApp, WeChat etc.
Humans love conversations more than anything. Not convinced? Give a millennial a chat window and a support desk app and see what he prefers.
One of the advantages of using chatbots is that it will be available 24/7. You don’t have to restrict your support timing only during business hours. A chatbot can serve your customer with his queries even at midnight.
Also, you can deploy the same chatbot across multiple messenger platforms wherever works best for your target customers. Many of the platforms including Facebook Messenger, WhatsApp etc supports chatbot implementations.
Customers can get personalised product suggestions and answers based on their profile. For example, your chatbot will know how to deal with a millennial who works in Software Industry and what products he might be interested in.
What results are insurers getting from chatbots?
Chatbots can handle multiple conversations with different customers at the same time, which is not possible for a human. One common trait in support related conversations is that, majority of the customers are asking the same question. It’s like the 80/20 rule. A chatbot can efficiently handle this repeatedly asked queries so that your human support agents can spend time in answering more complex queries that requires true human intelligence.
A study reveals that, around 30% of the customer service calls can be answered by an intelligent chatbot and still maintaining high customer satisfaction.
Insurance companies experience a 30% drop in customer service costs as they deploy chatbot to assist their customers 24/7.
Claim processing is another are where chatbots can bring a huge impact.One of the major problems faced by insurance companies is fraudulent claims. Deploying a chatbot for processing claims can analyse past data, and predict fraudlent claims that a human might miss.
Integration with existing systems
A standalone chatbot is of no-use if it cannot integrate with your existing CRM and ERP systems. But, that’s not the case. Chatbots today can interact with your existing systems, and read/write data as required.
For example, when a chatbot services a customer, the chatbot can pull previous data from your CRM and personalise the conversation accordingly. And also, the chatbot can help you add more information to your CRM based on the data collected from the conversation with your customer.
Chatbots will continue to gain traction in the Insurance industry as more and more companies are adopting chatbots for customer support, sales and claim processing.
53% of service organizations expect to use chatbots within 18 months — a 136% growth rate that foreshadows a big role for the technology in the near future.
Looking to implement a chatbot? Connect with us to know how chatbots can benefit your industry.
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