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Digitalization is ruling the #markettrend since a long time that shapes many businesses, allows them to keep going with an online business sales, a supply chain, restaurants, service providing companies, construction companies, and many other businesses with the software solutions and apps.

It optimizes working processes within the company, reaches out to your clients, and creates a web and mobile presence able to attract not only customers but also potential investors interested in your business.
No second thought, Yes, software development can add value to your business. Even if after a point you decide to sell your business and turn into a new direction of growth, having a digital workflow, A business software will be your advantage to attract potential buyers. So, let’s dive into this topic and discover how a right choice of software development partner can help increase the value of your company at each stage of your software development.
Stage 1: Idea:

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You have an idea of a product or service and you need to turn it into a consistent business plan. How does a software development company add value to it?
  • Technical Expertise.
  • Run a competitor analysis to check the feasibility of your idea.
  • Helps decide the technology stack based on your business goal.
  • They create SRS documents to list out your project constraints, target audience, supported platforms that guide the development team & helps owners to track the project parameters.
Stage 2: Beginning Startup

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With a visionary business plan for your product, when you start looking for the development source to begin with your start-up, Here you’ll face a choice: assemble an in-house IT team, hire a freelancer, or outsource to a software development company. Let’s explore the efforts required when hired a freelancer or a software development company :
Freelancer:

  • When you hire a freelancer, you will have to put efforts in organizing office space, building work processes, purchasing all required equipment, devices for testing, and many other matters which will distract you from your main goal – satisfying your users’ needs!
  • And the conclusion is hiring a freelancer would fill you up with a lot more responsibility.
Software Development Company:

  • However, working with a professional software development company to reduce the efforts.
  • Hiring a development company can provide all necessity to start the development, minimizing your product’s time-to-market, and cuts many unnecessary costs.
  • Except the budget, which is a common issue with software development for startups.
Stage 3: Experienced Startup

Once the product is out, you are ready to begin with the periodic evolution of the basic version with new features, new users, new devices and new requests referring to the competitors in the market. But to stick around in the market, you must need a team of reliable developers who are determined to work on product updates. The software partner can respond to your growing needs in many ways:
  • Ongoing product development cycle.
  • A project manager, a bridge between the product owner and development team.
  • Secured Confidential data of product.
  • Software partner’s experts for consultation.
Thus, you do not shift your focus from your business and client expectations, while all the technology and developments will be taken care by your software partner!
Stage 4: Established Company / Enterprise

Over the period when your product will grow in the market, including technological and complex organization structure, the expectations of users will grow too. Now let’s see how all this value is provided to you. Let’s return to the evolution chain.
Evaluation of Added Value At Each Stage:
Stage 1: Idea

At this stage you get crucial information through consultancy, which includes:
  • Free consultation with a sales team.
  • Business analysis.
  • Technical analysis.
  • UI/UX design & prototyping.
  • Approximate software development cost estimate.
Stage 2: Beginning Startup

If you are planning to develop MVP project, there are two options:

fixed-price-time-material-contract

Stage 3: Experienced Startup

The wise decision is to approach a reputed software development team with the sufficient Time & Materials contract terms in favour and is preferable for ongoing delivery of a turn-key product thanks to:
  • Persistent team allocation.
  • Optimal team efficiency and time-to-market.
  • Full transparency of actions, decisions and responsibilities.
Stage 4: Established Company / Enterprise

Dedicated Team contract is usually the only viable solution:
  • You get a full-cycle product team.
  • A quickly integration with company’s structure, release cycles, development processes and tools.
  • Efficient communication with the client team.
Conclusion:

Our story can be summed up with several do’s and don’ts for product owners:
  • Communication – this is the key!
  • Always return with responses to your development partner.
  • Share your goals with your team in order to get their involvement in it.
  • Keep track on a given budget and plan process flow accordingly.
  • With the initial development your product enters the market but with time it requires upgrade, so choose your software partner carefully!

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For any further information / query regarding Technology, please email us at info@varianceinfotech.com
OR call us on +1 630 534 0220, Alternately you can request for information by filling up Contact Us
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