Outsourced Product Development (OPD) is a strategic approach where companies delegate the development
of their products, or parts thereof, to external specialists. This enables businesses to leverage global
talent, reduce costs, and accelerate time-to-market while focusing on their core competencies.
Why should we go for OPD?
Cost Efficiency: Significantly reduce development costs by utilizing skilled labor at a lower price point.
Access to Expertise: Benefit from specialized skills and technologies without the need for in-house development.
Focus on Core Business: Allocate more resources and attention to core business areas by offloading product development.
Scalability: Easily scale your development efforts up or down based on project needs without the HR complexities.
Speed to Market: dedicated external team to bring products to market faster.
Stages in the Outsourced Product Development Cycle
➔ Planning and Strategy
- Understand and document the business needs, product goals
- Clearly define the scope of work, including the features, functionalities,
and performance criteria of the product
- Choose the appropriate outsourcing model based on project size, complexity, and duration
➔ Partner Selection
- Establish criteria for selecting an outsourcing partner
- i. technical expertise, skilled resources
- Evaluate potential partners through proposals
➔ Project Initiation and Kickoff
- Conduct a kickoff meeting with all key stakeholders
- Partner allocates resources, including the project team, tools, and technologies, to the project
- Develop a detailed project plan, including the project schedule, milestones, and deliverables
➔ Execution and Management
- Follow the agreed-upon development methodology
- Maintain regular communication
- Implement quality assurance practices, including continuous testing
➔ Delivery and Transition
- Deliver the final product or service, ensuring it meets all requirements
- Provide support and documentation to ensure a smooth transition
➔ Post-Launch Support and Maintenance
- Ongoing technical support to address any post-launch issues
- Regular updates and maintenance to enhance the product
Benefits of Partnering with Cannyfore for Outsourced Product Development (OPD)
➔ Proven Experience
- Our track record demonstrates successful management and execution of full-cycle product
development, ensuring the delivery of high-quality products along with comprehensive support and maintenance
through managed services.
➔ Domain Expertise
- Our team, which is composed of individuals with extensive domain expertise,
assists clients in precisely establishing their goals and defining the scope of their
requirements.
- We also aid in the detailed analysis, evaluation, and elicitation of these requirements.
➔ Delivery Excellence
- Our delivery heads boast an impressive average of over 20 years of industry
experience, adeptly managing and executing the delivery of high-quality products for global
enterprise clients across a spectrum of budgets, from small to very large scales, with
proficiency.
- They are skilled in assembling the ideal team, tailoring
processes to suit specific client or project requirements, managing teams
effectively, identifying and mitigating risks early on, fostering collaborative
and efficient communication, and ensuring exceptional execution and quality in
delivery.
➔ Technological CoEs
- Our specialized Centers of Excellence (CoEs) for IBM, Microsoft,
and Open-Source technologies are led by highly skilled and technically proficient
architects.
- Clients have the advantage of accessing a wide range of skilled
professionals under a single roof.
- We offer technical assessments and the development of solutions through
a collaborative approach, leveraging the expertise of multiple experts simultaneously.
➔ Independent Verification and Validation/ Quality Team
- Our independent verification and validation team operates autonomously to
ensure that product quality remains uncompromised throughout.
- They are dedicated to upholding quality standards at every phase of product
development.
- A specialized team evaluates and advises on suitable automation strategies,
tools, and identifies specific test cases for automation
➔ Integrating OPD with the Build-Operate-Transfer Model for Full Return on Investment
- Build: A team is specifically assembled for product development, under the
advisement of our in-house technical specialists.
- Operate: The development and operation of the product are carried out by a
committed team.
- Transfer: After development and initial support, the team can be handed over to
the client for ongoing in-house support if needed.