A holistic Product development process is a costly affair. Therefore choosing the right partner for this, where the firm is heavily dependent on for a smooth and efficient functionality requires meticulous planning. Faltering in this phase will lead to a drastic shoot up in the cost of developing your product.
The firm has to:
- Have discussions with various departments in the firm and know the current state and the requirements of the departments for determining what is required from the firm’s perspective.
- Perform an extensive market research on the different service providers for developing your product that coincides with the needs of the firm keeping an eye on the cost factor as well.
Reaping rewards from outsourcing the product development is directly linked to:
AN OUTLINE OF THE FIRM’S REQUIREMENTS:
Developing a product that fails to address the key factors in the running of the firm leads to a loss in productivity time, having a product that fails to bring ROI and moreover the additional cost of re-investing in molding the product/developing a new product.
Apart from budget, duration, and scope, focusing on the end goal – “What issue does this product provide the solution to, and what are the expectations from it? having a clarity on these questions makes it easier to determine what type of a partner to pick.
High priority on the firm’s requirements must be kept in mind in the process of searching the developers.
CREATING PROFILE OF PRODUCT DEVELOPMENT PARTNER:
On the basis of firm’s requirements, narrowing down the choices is imperative. Opting for the partner that matches to your requirements based on budget, ability to satisfy the firm’s requirements and more importantly the size of the firm.
For e.g., if the need is 3-4 developers and has a budget around $1 million, approaching a firm with less than a hundred employees may not be a good idea. Similarly, if you just need to hire 1-2 developers, giving your business to an outsourcing behemoth won’t work – they are simply not built to cater to projects that size. Size of the firm that does the product development is crucial.
The partner you choose must be apt for in size, expertise, and budget for a successful product development.
The product that has been developed must be flexible to work in accordance with the working of the firm. The product must be capable of ramping up or down of features for the firm to have a competitive edge in the market with products having a product similar to yours.
The partner you choose should be able to ramp up the product when needed to add extra features to products on the right.
When a decision of developing a product that is going to aid the working of the firm and its productivity, it makes sense in using the product prototype for careful assessment on the performance, further changes etc., before receiving the actual product.
Through this process, there is a save in time, cost, productivity which otherwise cannot be avoided when there happens to be an issue with the original product.
Choosing the partner you can depend on for years, not you get the benefit of lower costs, but also stand a chance of building an offshore team that delivers in-house quality.