Summary
Many companies are now building their own software tools instead of buying them from outside vendors. A report from Retool shows a significant shift towards internal software creation, driven by easier and cheaper access to software development tools across various business roles.
Key Facts
- Companies are starting to create their own software tools to replace some of their purchased software.
- A survey by Retool found that 35% of respondents replaced at least one purchased software tool with a custom-built tool.
- By 2026, 78% of respondents expect to develop more of their own tools.
- 60% reported building software without IT oversight in the last year.
- The cost of creating custom software has decreased significantly, making it more appealing.
- Companies aren't replacing large core systems but rather focusing on specific tasks like approval processes or dashboards.
- Many employees are creating software on their own, leading to the rise of "shadow IT" activity.
- Moving from prototype software to fully deployed tools requires strong surrounding systems and infrastructure.
