Outsourced Product Development (OPD)

Advantages of Adopting the OPD Strategy

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.

“ Do what you do best and outsource the rest,” – Peter Drucker

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)

Planning and Strategy

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.