An off-the-shelf package asks you to adapt your process to the logic of the software. Custom software does the opposite. Which one is right depends on whether your process creates a competitive advantage.
Where packages fit
In accounting, payroll and similar areas the standards are already set by regulation. Writing custom software here usually means unnecessary cost.
Where custom development pays
If your production flow, pricing logic or field operation differs from other firms in your sector, a package will try to erase that difference. This is where custom development returns the investment quickly.
In practice the healthiest approach is usually a combination: standard processes stay in the package, and the part that is specific to your organisation is developed separately and integrated.