Pratiti Technologies

Category: Outsourced Product Development

  • Stop Believing these Myths about Outsourced Product Development

    Stop Believing these Myths about Outsourced Product Development

    Every new industry trend that challenges the norm has had its bad times, and outsourcing is not an exception. There was a day when outsourcing was limited for low-end jobs, but now things have changed drastically. From big enterprises to small and medium-scale companies and startups, a lot of companies are outsourcing extremely important, mission-critical projects to product development companies in India.

    Developing any product requires a set of expensive equipment and advanced technology along with a skilled workforce that may not always be available on the go. Further, it takes a product development company a great deal to employ the right people, train and empower them, and provide them with the necessary equipment to develop software and other products while ensuring faster time to market. It’s way easier to outsource the task to the right professionals, who work on such projects regularly.

    However, there are still a few myths that revolve around outsourced product development, thus discouraging business owners from taking the necessary step, even when they feel the need for it.

    Hence, it’s time to stop believing in these rumors and bust these myths to help everyone make the most of outsourcing and develop their products without much hassle.

    #Myth 1: In-house developers create the best products

    Well, to be frank, the quality of a product doesn’t depend on where the developers are situated but their skills and experience. While you select your in-house team of developers after running a thorough analysis of their credibility and skills, the outsourcing partner companies also are not chosen at random. You should evaluate their product quality and experience before partnering with them. Skilled developers can be anywhere, be it in your team or an outsourcing one across the world. You just have to find the right team of professionals for the task.

    Read: A 10-Point Checklist for Selecting the Outsourced Product Development Partner

    #Myth 2: You don’t have any control over the outsourcing team

    False! You don’t even have any over your in-house team for that matter because it’s not about control but proper monitoring that ensures timely delivery of high-quality products. Control is something more aggressive and doesn’t work in a professional scenario. You can monitor the work of the outsourcing company by keeping in touch with them and asking for regular updates on the project, just like you do for your in-house team.

    #Myth 3: The outsourcing developers can’t produce quality

    Again, developers are what they are – developers. They can either be skilled or unskilled and not anything else. If you opt for an experienced outsourcing company with a great team of skilled developers, a lot of your work will be skillfully taken care of by them. You can work with specialist outsourced product development companies that have experience and expertise in your domain. So this statement is simply a myth that you shouldn’t believe in.

    #Myth 4: It can be difficult communicating with the developers

    In the age of globalization, offshore communication is anything but difficult. It just takes you a simple email or a Skype call to get updates on your product from the outsourcing team. And if they provide you with the updates regularly, you don’t even have to do that. If you are worried about the differences in time zones, you should remember that many outsourcing companies provide round-the-clock support by working on different shifts.

    Read: Tips to Help You Succeed with Offshore Product Development Partner

    #Myth 5: Outsourcing is only possible for big enterprises

    Many small business owners are of the notion that only the big companies with multi-billion dollar revenue can afford to outsource their product development projects to an offshore company. However, they aren’t aware that anybody can afford to outsource, and it benefits everyone. There isn’t any rule about it. You can always find an affordable outsourcing team without exceeding your budget and without compromising the quality of the finished product.

    #Myth 6: Your IPR can be compromised

    This is one of the most common myths about outsourcing product development. Many business owners fear that they may lose their Intellectual Property Rights to the outsourcing team. However, there’s no guarantee that your IPR won’t ever be compromised if you don’t outsource. A vicious mind that aims to do the same may do it from within the walls of your office building too. So, outsourcing doesn’t matter here. What matters is choosing a reliable brand that values its reputation in the market, thus ensuring 100% protection of your assets.

    #Myth 7: Cultural differences may affect professional relationships

    No, it doesn’t. The world and its people are upgrading themselves every single day, and cultural differences are not even a hot topic for discussion in the cafeteria these days, let alone hamper work relationships. If you think that you have found the right team to outsource your product development, go with your hunch. There’s no point believing in these baseless rumors.

    Wrapping it up

    Neither distance nor cultural diversity can affect the quality of the product that an outsourcing company will develop for you. The only thing that will affect it is the skills and experience of the developers who work on it. Hence, you should take your time to evaluate their credibility before you hand the project over to them. Ask questions, review their previous works, and make sure you fill them in on the details of the product to prevent miscommunication of any kind. If you can get these things right, you are sure to reap the benefits of outsourcing on a large-scale. Contact us today to speak with our experts!

    Nitin

    Nitin Tappe

    After successful stint in a corporate role, Nitin is back to what he enjoys most – conceptualizing new software solutions to solve business problems. Nitin is a postgraduate from IIT, Mumbai, India and in his 24 years of career, has played key roles in building a desktop as well as enterprise solutions right from idealization to launch which are adopted by many Fortune 500 companies. As a Founder member of Pratiti Technologies, he is committed to applying his management learning as well as the passion for building new solutions to realize your innovation with certainty.

  • Here is What Digital Transformation Means to These Industries

    Here is What Digital Transformation Means to These Industries

    As the business ecosystem advances, organizations across the world are seeking ways to keep up with the pace of change. Today, many are trying to make the most of digital technologies to enhance business process efficiency and achieve a competitive advantage in the market.

    Although the transformation is picking up steam across every sector, here’s what digital transformation means to these four industries:

    Manufacturing

    In the manufacturing sector, getting insight into supply chain and manufacturing lifecycles has become critical to efficiently manage production complexities. Digital transformation in manufacturing has a lot to do with embracing technologies that ensure round-the-clock availability while ensuring the safety of workers.
    To enable digital transformation in the manufacturing sector, companies can

    • Leverage modern technological innovations across IoT, AR, and AI to enable real-time manufacturing operations monitoring across field sales, procurement, and logistics. Construction major L&T, for instance, is focusing on implementing new-age technologies to make operations across construction sites, quality management, and people management more smart and efficient.
    • Embrace advancements in big data analytics and machine learning to glean insight from data and make intelligent, evidence-based decisions across demand forecasting, inventory management, equipment health monitoring, worker safety, and more. Tata Steel, for instance, uses advanced analytics to make better real-time, data-driven decisions and improve the efficiency of plant operations.
    • Automate processes, workflows, and information management systems to simplify complex and redundant activities and drive innovation and creativity for better throughput. Global car major Toyota has been automating processes since the very beginning to streamline production, increase efficiency, and reduce waste.
    Healthcare

    As the digitization of industries happens at an accelerated pace, the healthcare industry is looking to invest in modern technologies to enhance the patient experience, optimize operations, and bring down overall cost and risk of healthcare. Using technologies such as AI, robotics, IoT, 3D printing, and big data analysis, healthcare companies are all set to boost operational efficiency while ensuring compliance and quality of care.

    To kickstart the digital transformation journey in the healthcare sector, companies can

    • Use IoT technology to integrate data from myriad hospital systems into a single repository and accelerate diagnosis and treatment schedules. Apollo, for instance, leverages AI and smart technology to connect diagnostic and other healthcare equipment and enable operational and clinical teams to make better decisions.
    • Leap into the world of telehealth to provide healthcare services to patients – irrespective of where they are located – and manage their health remotely. Teladoc Health, for instance, employs a virtual care center that allows doctors to interact with patients remotely, understand their symptoms, provide prescription while enabling them to self-manage their health.
    • Leverage advancements in machine learning and AI to sift through patients’ medical history and undermine the chances of illness, the effect of medicines, and the susceptibility to allergies. Ochsner Health System, for instance, is all set to launch a program that analyzes patients’ medical history and identifies high-risk patients so diseases can be detected early or even prevented.
    Energy

    Digital transformation in the energy sector opens up a world of opportunities for companies looking to optimize energy production and reduce wastage. As competition intensifies and as market forces evolve, embracing modern technological innovations such as IoT, data science, renewable energy software, and cloud computing is the only way to effectively manage energy generation and consumption.

    To drive digital transformation in the energy sector, companies can

    • Invest in Digital Twin technology to monitor key performance indicators, receive alerts in the event of issues, and take the necessary course of action for remediation. GE, for instance, has more than a million digital twins deployed, keeping tabs on more than 70% of the jet engines currently being utilized throughout the world.
    • Embrace the world of cloud and AI to optimize power generation, benchmark asset performance, and boost plant yield. American Oil and Gas company Exxon Mobil makes use of analytics to analyze drilling data, optimize well performance, and get an end-to-end view of operations.
    • Use IoT sensor technology to remotely assess the efficiency of distributed energy assets and make changes to optimize energy production. Indian energy company Suzlon leverages IoT and analytics to get real-time insight into field conditions, improve energy yield of turbines, and enable better scheduling and forecasting.
    Finance

    As the financial sector becomes a battleground for established veterans and new-age startups, companies are looking to embrace advance technologies such as cloud, AI, and data analytics to survive and thrive. Deutsche Bank, for instance, is all set to cut staff by 18,000 to reduce costs and spend €13bn on technology by 2022 to digitize and optimize underlying infrastructure.

    To drive digital transformation in the financial sector, companies can

    • Automate manual, error-prone administrative tasks using RPA and improve the quality and efficiency of service provided to customers. SBI uses automation to overcome challenges associated with the time-consuming, complex, error-prone traditional onboarding process.
    • Explore the world of blockchain to build trust between different intermediaries, drive greater transparency in transactions, and eliminate the challenges that centralized control brings. Sumitomo Mitsui Banking Corporation (SMBC), for instance, has successfully completed a proof-of-concept test for blockchain-powered trade finance. The platform is built to enable customers to securely and quickly update purchase orders, invoices, and logistics information.
    • Embrace cloud to end data storage problems and enable better accessibility to and scalability of data across the global enterprise. ICICI bank, for example, uses cloud technology to enhance internal operations and deliver a streamlined digital banking experience to customers.

    The opportunities to enhance efficiency and throughput using technology are manifold. How are you planning to drive digital transformation? To learn more about use cases pertaining to your industry, connect with us today.

    Our Services

    IoT App Development | Digital Twin Software Platforms | Industrial IoT Solutions | Digital Product Development

    Nitin
    Nitin Tappe
    After successful stint in a corporate role, Nitin is back to what he enjoys most – conceptualizing new software solutions to solve business problems. Nitin is a postgraduate from IIT, Mumbai, India and in his 24 years of career, has played key roles in building a desktop as well as enterprise solutions right from idealization to launch which are adopted by many Fortune 500 companies. As a Founder member of Pratiti Technologies, he is committed to applying his management learning as well as the passion for building new solutions to realize your innovation with certainty.
  • Tips to Help You Succeed with Offshore Product Development Partner

    Tips to Help You Succeed with Offshore Product Development Partner

    Over the years, several startups as well large enterprises have gained tremendously from partnering with outsourced product development companies in India and other such countries.

    According to Statista, in 2018, the global outsourcing market amounted to 85.6 billion U.S. dollars.

    Access to top-notch technical expertise, domain knowledge, and the know-how of product development and product management helps tech startups leverage the benefits of outsourcing. However, working with an offshore partner is not the same as working with an in-house team. With offshoring, you are working with a new team that is in a different part of the world, comes with its own experience of executing projects, and possibly, works in a different time zone.

    If you are considering partnering with an offshore software product development company in the coming year, here is a blog that enlists some practical tips to help you make the relationship a success.

    Research and Hire a Reputable Partner

    First things first. You need to do your research and select the right Outsourced Product Development Partner. Ensure that the partner that you choose has a strong industry and technical knowledge you need to develop your product. The partner should follow the latest product development and management processes such as DevOps, Agile, and have transparent, flexible, and well-set processes. Do check out the work done by the company in the past. If required, speak to their existing clientele to understand their working models, communication, and proactiveness. After all, you need a partner who will work as your extended team and show commitment towards shared goals.

    Discuss Long-Term and Short-Term Project Goals

    Assigning a project to an offshore team without telling them the goal behind it is going to turn into a catastrophic disaster. The developed product, in all possibility, will not be as per the expectations of the stakeholders. The way to go about this is to discuss long-term and short-term goals with your outsourced development partner. It can be the vision about your product, a clear roadmap of how you want the product to succeed, and what you want to achieve through the product. This will help them think and work innovatively and effectively to help you get to your goals.

    Clearly Specify Your Requirements

    More often than not, we want to achieve perfection in the projects and want the offshore development teams to understand and follow suit. For this to happen, you need to get the offshore development team on the same page. This includes specifying what exactly you are looking forward to, the specific areas that you can or can’t compromise, and so on. The requirements can be in terms of what are the tasks that the product needs to solve, the functionalities and the features that need to go in making the product, and the platform for which the product needs to be developed. This will help the team to prepare a clear path for getting the product ready within the stipulated time frame. The ideal offshore development partner would also like to understand your target audience, their needs, and preferences and then they will guide you on making the right choices.

    Clarify Your Company’s Culture, Ethos, and Values

    When you want to hire an offshore product development partner, one of the mainstays is to make sure that the outsourced team is in-sync with your company’s culture, ethos, and values. This is especially important because the offshore teams will be located in different countries and will have a different perspective on various aspects. If you don’t take this into consideration, then it can affect the progress of your project in the long run. Therefore, it is crucial that you clarify your company’s core culture, ethos, and values to the partner beforehand.

    Communicate Effectively and Often

    Communication is the cornerstone when you want to work with an outsourced product development team. Make it a point to communicate with them as effectively and as often as you can. This will be crucial during critical projects when you have to communicate back and forth a number of times. Holding daily meetings or asking for weekly status reports can be a few ways to help you stay updated on the status and also get an opportunity to put your points across. This will help you both to be on the same page. There are several communication tools that can help you in keeping them in the loop. Do check with your partner on their communication processes and see how those align with your needs.

    Set Realistic Expectations

    The next point on our list is to set realistic expectations. Understand that they are your partners, and you need to work together towards the success of your project(s). For instance, sometimes the offshoring partners will need more time to learn the ropes or to understand your business in the initial stages. By giving them the time, you can expect them to reach a certain level of work quality.

    Trust them to make decisions on their own

    Offshore development firms who have been in the business for a long time can offer you the best returns on investment. However, you also need to give them the leeway to make decisions on your behalf. Micromanaging them will only crop up the differences and lead to the loss of time. Trust them by offering visibility in your overall business plans so that they can assist you in the best possible way and get the best talent on board so that your project is ready within the stipulated timeframe.

    Find the Right Match for Your Offshore Product Development

    When it comes to working with outsourced software product development services companies, the gist is in weighing them on their knowledge, the way they fit in your company culture, their prior experience for executing similar projects, and their ability to innovate and deliver. We hope that the above-mentioned tips help you get the most from your partnership.

    Let’s connect if you are looking for a team that offers a unique blend of domain expertise along with technology craftsmanship. As your outsourced product development partner, we are committed to help you realize your innovations faster.

    Our Services

    IoT App Development | Digital Twin Software Platforms | Industrial IoT Solutions | Digital Product Development

    Nitin

    Nitin Tappe

    After successful stint in a corporate role, Nitin is back to what he enjoys most – conceptualizing new software solutions to solve business problems. Nitin is a postgraduate from IIT, Mumbai, India and in his 24 years of career, has played key roles in building a desktop as well as enterprise solutions right from idealization to launch which are adopted by many Fortune 500 companies. As a Founder member of Pratiti Technologies, he is committed to applying his management learning as well as the passion for building new solutions to realize your innovation with certainty.

  • A 10-Point Checklist for Selecting the Outsourced Product Development Partner

    A 10-Point Checklist for Selecting the Outsourced Product Development Partner

    Successful businesses often outsource their tech product development to an offshore company with domain expertise and technical skills, so that they can focus on their core competencies. In general, offshore product development companies could play any one of three roles- assistant, advisor, or partner.

    A software development company playing an assistant’s role will cater to specific delivery levels. The one associated as an advisor will take care of things at the management level. A software development partner, on the other hand, will work entirely toward your goals and put efforts to make the engagement a success.

    Outsourced Product development partnerships are extremely beneficial for businesses that want to get experts to develop their products, while they focus on other vital aspects of their business. A recent Gartner report suggested that global IT spending is set to increase to $3.8Trillion in 2019/20, showing a 3.2 percent increase from the investments in 2018/19.

    The lack of in-house talent and the high cost of in-house employees remain the top reasons why companies outsource product development. A Statista report shows that India and China are the leading exporters of tech product outsourcing services, bringing in a cumulative $150billion in IT exports.

    But, in an overcrowded tech market, it can be challenging to choose your ideal partner for an outsourced partnership.

    The Cost of Choosing the Wrong Partner

    Estimating the number of hours, the amount of effort, and the cost of reiterating the process can seem daunting. While contracting out product development might look easy at first, as businesses get deep into the process, they often realize they have married the wrong partner.

    Married, because what comes after is uglier than a divorce. Know that you are risking trust, IT security, knowledge, quality, time, and money with any outsourced product development partnership. Thus, when you choose the wrong vendor, you lose a lot more than money and time.

    Now that we know how expensive it could be to get your product in the wrong hands, let’s see how we can prevent that from happening.

    A 10-Point Checklist for Picking the Right Partner

    • Industry and Technical Knowledge – This one is a no-brainer for any company outsourcing its product development. Your ideal outsourced partnership should stand on a foundation of competency. Look for employees on their team with the right skills. Arrange for a meeting with their key personnel. Know the business’ cumulative knowledge and expertise by asking the right questions.
    • Process Management – The software development model that your partner uses makes a huge difference in how flexible, transparent, and inclusive their process is for you. You want to make sure they use the latest methodologies such as DevOps, Agile, and so on. Managing a complex product development process can be a hassle for a noob company. Watch out.
    • Partnerships – Look at the current and previous partnerships the organization has had with businesses. You might want to check whether these companies come from various time zones, languages, and industries. The primary aspect we are looking for is compatibility. Will they be able to fit in with your processes and gel up with your organization as a partner?
    • QA and Testing – A salient and critical feature of any tech product is its quality. You don’t want to invest in a company and end up with a buggy product that does not perform well. To ensure product quality, look at the prospective company’s quality assurance and testing methodologies. You might also want to consider talking to their QA experts.
    • Communication and Transparency – Almost all partnerships can fail without the right communication systems in place. You say one thing, they hear another. Miscommunication and gaps in interaction are common when working with a remote partner. Learn how your prospective company maintains consistent communication and keeps the progress transparent. You want to work with a partner company that keeps you in the loop at all times.
    • Skillset Diversity – Any tech product’s development involves a team with varied skillsets. You need developers in various programming languages, UI/UX designers, quality analysts, testers, support specialists, and so on. If your product involves these functions, you need to partner with a company that has a varied skill set on the board.
    • Experience and Testimonials – When looking for an outsourced product development company, consider learning about the combined experience of the leadership team as well as that of the product development team. You don’t want to work with fresh graduates when you need core expertise and insightful experience. Also, look at the prospective company’s testimonials. What other customers have said about a company tells a great deal about their services.
    • Flexibility and Engagement Model – More and more companies these days are looking for partnerships with flexibility and an array of engagement models in pricing. Almost all businesses now need customized engagement models to fit their needs instead of the other way around. Flexibility and the right engagement model will ensure you don’t shell out more than you should for your product’s development. A partner with multiple engagement models (T&M, FFP, NTE, Risk Reward / Royalty, etc.) offers a smoother, long and lasting relationship.
    • Proactiveness – The ideal outsourced product development partner must be proactive in catering to your business’ needs. This company should not wait around for you to lead but should proactively present new ideas and innovative concepts to bolster the development of your product in the right direction.
    • Commitment toward Shared Goals – No relationship can survive if two parties are vested in their own interests. Therefore, your ideal outsourced development partner should have a deep understanding of what you want to achieve with product development. Your outsourced team should then work toward these goals to create a synergized environment that boosts business.

    There is a lot for businesses to consider when choosing an outsourced product development partner. Your product’s quality, functionalities, and appeal entirely depend on how it was developed. Not only that, but you also risk your market reputation, brand image, and customer trust when outsourcing such an essential function.

    At Pratiti, we believe in taking full accountability and ownership of your product while it’s still developing. Instead of being your vendor, we extend our services to become your partners in ensuring the success of your product. We have the right blend of design and tech competency to develop complex tech products with an eye toward your industry. Talk to us today at insights@pratitiech.com / contact@pratititech.com.

    Our Services

    Software Product Development | Digital Twin Platform | Healthcare Software Development | IoT Development Services

    Nitin
    Nitin Tappe
    After successful stint in a corporate role, Nitin is back to what he enjoys most – conceptualizing new software solutions to solve business problems. Nitin is a postgraduate from IIT, Mumbai, India and in his 24 years of career, has played key roles in building a desktop as well as enterprise solutions right from idealization to launch which are adopted by many Fortune 500 companies. As a Founder member of Pratiti Technologies, he is committed to applying his management learning as well as the passion for building new solutions to realize your innovation with certainty.

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