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Potential Ways To De-risk Your Outsourced Product Development

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Making a business transition isn’t always easy, especially when conquering customer’s satisfaction for the new product is your primary goal. For this reason, probably, the market for outsourcing services is witnessing a huge growth every year. Businesses invest in outsourcing strategic partners to gain economic advantages. After all, the idea of outsourcing core-activity i.e. “software product development” enable software companies to focus on managing a products efficiently. But, the way a right outsourcing strategy can lift-up development project, a wrong move can be proven detrimental and risky for a company’s success. Therefore, it is essential to look out the ways to de-risk your outsourced product development to achieved anticipated benefits. Let’s explore:

Commence With Defining Your Product Concept Clearly: It all begins with an idea that first comes to your mind but to convert it into a finished products, you will need to research more. Begin with analyzing your requirements. Once done, try to understand customer’s requirements. After having all details, it would be easy to design a product concept and to analyze if your ideas are matching to customer’s expectations or not.

Discuss details with your outsourced partner or provide a written requirement list to them about the possible solutions, core features that you want to add in your product, project timelines, and the budget. Be sure that your partner and you are on the same page when it comes to understanding your product concept and requirements. In case, you will communicate incomplete details, you partner could fail in developing a product that you wanted to have in place to acquire customers.

Focus On Achieving Excellence In Product Designing: You couldn’t gain market ownership until and unless your products has excellent design. Therefore, consider leading with designs, probably, with a high-fidelity user interface (UI) designs to visually understand how your products should be built. Ask your outsourced partner if they have an expert team of front-end and back-end developers to handle API or color/background, and other design elements of the product. A company can potentially reduce the risk of failing a project by ensuring a right partner who goes an extra mile to develop an innovative product.

Don’t Agree On Cut-Rate Services: Who doesn’t want to have engineering services at low-prices? Everyone does actually. But falling for vendor’s proposal just because they are offering low prices, could be a huge mistake. Every company has its own working procedures, resources, and prices. Question few vendors and try to understand their strategies they will going to implement for your project. Review their product portfolio, analyze their capabilities and make a decision. Note that, you don’t have to settle for higher prices even. Select the one which suits your budget and possess required resources and expertise.

Agile Product Development Is A Key To Success: Gone are the days when traditional outsourcing models dominated the market, now agile development is the new king of the market. Along with bringing transparency to the outsourcing process, this iterative approach focuses on adaptive planning, faster delivery and consistent product improvements. Chances are, you might require some changes in the product designs after testing few features. In such scenario, agile development provides flexible response and fed your feedback back to your product designs to develop the better product in the end. Investing in outsourcing a partner who follows an agile product development approach such as Scrum, Extreme programming, Feature-Driven development etc., could definitely mitigate several risks.