What Is the Difference Between Off-The-Shelf and Custom Software? What

question 59

Essay

What is the difference between off-the-shelf and custom software? What are the advantages and disadvantages of custom software?

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Definitions:

Planning Budget

A budget created at the beginning of the budgeting period that is based on planned outputs and efficiency levels for that period.

Tenant-Days

A measurement used in the real estate and hospitality industry, representing the total number of days that all tenants or guests have occupied a space over a given period.

Tenant-Days

A measure used in property management to calculate the total number of days rental units were occupied over a specific period.

Activity Variance

The difference between what was expected to be expended in terms of activities and what was actually expended. It is a tool for analyzing the efficiency and performance of business operations.