10 Software Components to Stop Building In House for 2021

In the past, businesses frequently developed their own proprietary software, even in industries where software was not their core offering, resulting in cumbersome and costly systems to manage and scale. However, the rise of cloud computing and Software-as-a-Service (SaaS) models has shifted this trend, offering companies more efficient and economical solutions, allowing them to focus on their core competencies. Despite this shift, many software providers still opt for in-house development, often wasting resources on creating components that already exist on the market. To optimize efficiency and resource allocation, companies are encouraged to consider buying rather than building certain software components, such as recurring billing systems, email notification systems, data analytics tools, user authentication services, payment gateways, data encryption solutions, cloud infrastructure management tools, video calling technology, social activity feeds, and in-app chat systems. By leveraging vendor solutions, businesses can benefit from economies of scale, higher quality, and reduced maintenance burdens, enabling them to concentrate on their unique value propositions.