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Success or failure of product development initiatives
can mean all the difference between success and failure of any ISV
organization. There are unique risks and challenges that must be addressed at
different stages of the product development lifecycle. In this scenario,
managing technical risks alone is not sufficient to ensure success.
ISVs need to focus on results from their project portfolio while
developing new products, or enhancing the existing product range.
The key challenges in this endeavor include: |
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Reduce
Time-To-Market
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When business moves at the
“speed of thought”, new ideas and innovations
need to get to market, and spread quickly. Conventional research,
design and development models are not geared to meet these
demands of rapid market approach, and quick geographical spread.
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Keep
pace with Rapid Technology Change |
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Systems Infrastructure and Programming
paradigms have traditionally seen a complete overhaul every
3 to 4 years, and the pace of change is increasing. Keeping
pace, while maintaining and supporting existing skillsets
within the organization, has become increasingly difficult. |
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Innovate
and Adapt |
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While most ISVs and Solution
Providers have traditionally excelled in their specific domains
in terms of the ‘depth’ of expertise, many product
vendors are breaking vertical domain barriers to innovate
and stay a step ahead of their competition. This blurring
of boundaries has made it difficult for many ISVs to adapt
to changing market conditions and meet competitive challenges. |
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Market
Differentiation |
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While product innovation provides
a platform for initial market approach, it is not necessarily
an entry barrier. Continuous innovation through stellar product
research and development is and increasing scale is perhaps
the only way to protect market differentiation, enhance market
presence, and ensure continued success. |
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Cost
Effectiveness of New Product Development |
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Formal componentization strategies,
building organizational knowledge management systems to share
best practices and minimize rework, as well as efficient quality
organization are essential to drive down costs of developing
new products, and push break-even points lower. As clear as
these goals are, they are seldom easy to implement, and even
harder to make their use pervasive in the organization. |
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Protect
Intellectual Property |
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Even as businesses worldwide
have realized the benefits of outsourcing, the single biggest
impediment in ISV adoption of technology outsourcing has been
the fear of losing control over intellectual property in a
joint development environment. |
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How may we help you? |
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To discuss
how we can help your organization, please
call 91 (172) 264-6460. |
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Send us an e-mail |
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