Identifying variables affecting product valuation for micro, small, and medium enterprises dedicated to custom software development in Colombia

Abstract

 Variables (needs and factors) that could affect product valuation for micro, small, and medium enterprises (MSMEs) engaged in custom software development in Colombia during the period 2014–2018 were identified through a process involving reflection, consensus-building, and implementation of prospective

analysis tools. The performance of Colombia’s relatively recent software industry was analyzed. The country’s Ministry of Information and Communications Technologies is currently promoting new strategies to strengthen this sector. Prospective analysis tools were used to analyze the situation, identify stakeholders, and review pertinent trends. The strategic prospective workshop and the Delphi method were selected as analytical tools. Based on the results obtained, recommendations are to generate strategies within MSMEs developing custom software that would allow these enterprises to (1) take better advantage of governmental support in terms of legislation promoting entrepreneurship and tax benefits; (2) generate innovation that would increase their competitiveness; (3) manage knowledge so it is properly documented so as to avoid making the same mistakes of the past; (4) revise current economic models whose inefficiency has led many MSMEs to lose their financial viability; and (5) implement technological adaptations accompanied by technology transfer and capacity building, allowing enterprises and their human capital to evolve over time.