There are many critical points in the product development cycle;
What features do we include? Which ones have to wait?
Do we need more people? If we add this can we move our deadline?
How many last minute additions will be snuck in by upper management?
Each of these points can cause major stress on your development team, so it’s no wonder that there is such high turnover in the marketplace right now.
One way to help alleviate some of this stress is to look to other software companies to integrate their product with your own. Many companies have found that taking an existing product off the shelf and customizing it for their needs is the best way to meet a deadline, while also adding a premium product feature at a lower cost than they could build themselves.
The upside is quicker ROI in both money and development resources, which can be allocated to other projects that will keep you ahead of the competition. Other important advantages include a less stressful development team, which can help lower turnover, while also capitalizing on the synergies of working with another company.
Many business owners still believe in the DIY philosophy; that developing their product(s) in house will give them more control. They have an office full of developers that are already on the payroll, so what will they do if things start getting outsourced? Some CEOs think that if a developer can code in Java, they can also code in every other language. These misconceptions can lead to lost opportunities for growth and smaller market share.
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There have been a number of studies that suggest sticking to your core competencies and outsourcing the rest is the best way to grow your business. Ford Motor Co. used to build every component of their cars from the ground up, but found outsourcing to be more profitable. Today, most of their vehicle components are built by somebody else. Even Apple used Microsoft to do some of its work for them at one point in time.
The number of software companies that are using third party products and incorporating them with their own is growing rapidly. With today’s competitive environment, wouldn’t it make sense to explore every avenue possible to stay on top?
Let iDashboards be your partner. Our software will help ensure you have the insight necessary to deliver the best possible product to your customer. Try our 30-day free trial today and see firsthand the impact it can have on your business!