Technology disruption is quite a norm these days. As a result, Technology Product Companies need to have well-defined mechanisms in place, to proactively respond to continuously evolving product lifecycle elements such as shorter product development time and product version shelf life, while also ensuring product quality and balancing cost implications.
To thrive in this demanding environment, these organizations need innovative product engineering solutions and services that span the entire product lifecycle. Additionally, to stay on top, it is important that they meet the quintessential needs of providing a best-in-class user experience and leverage new conveniences that technology can make possible. A strategic technology partner can help such organizations develop a product based on the company’s vision and subsequently launch new product features to market with the speed, quality and innovation quotient needed to remain competitive.
According to a MarketsandMarkets study, the increasing demand for accelerating time-to-market for a product, is expected to drive the product engineering services market to 1,003.12 billion USD by 2021. This is quite telling of what product companies must plan for. The emergence of new technologies and software delivery models has led to the evolution of product engineering services to move beyond traditional software engineering in order to cater to the unique techno-business landscape that products thrive in.
Product engineering takes care of all aspects of a product’s journey right from the initial innovation or strategy phase to the design, development, user acceptance testing and maintenance and support phases of the product.
Let us take a look at the different phases of the product engineering life cycle.
Product Engineering Life-Cycle Phases
1. Strategy or Innovation
This is the initial stage where an idea is conceived and the process of strategizing on how to transform it into a successful working product, begins. The idea is analyzed by the subject matter experts and market researchers to understand whether it is worth pursuing and what the risks involved could be. Many a time, it would benefit to leverage professional Product Innovation services for this.
Product Innovation services can typically help you with:
- Product Ideation
2. Requirement Analysis and Product Design
After the idea has been validated and decided upon, the next phase is to design the product in terms of technical and functional architecture and user interface. A key part of this is to analyze the product’s requirements and run exercises to identify priority features or must-have versus nice-to-have features and weigh them from a value and productivity standpoint. Product Managers, Designers and Technical Architects play a key role in the design stages of a product’s evolution.
Product Design services typically include:
- Functional Design
- User Interface and User Experience Design
- Technical Architecture
- Use Case Definition
3. Product Development
The next phase pertains to actually developing the product. This needs core development skillsets and technical managerial skills as well. The development team looks to the Product Managers/Owners, Designers and Architects to guide them with what needs to be built out. To meet the challenges of continuous disruption in a fiercely competitive landscape of product engineering, businesses must have continuous software product development capabilities. Development teams must employ proven methodologies and processes to ensure the quality as well as timely delivery of the product.
Product companies can choose to hire a vendor who can help with Product Development services in various ways, some of which are given below:
- End-to-End Software Product Development
- Extended Offshore Development Center
- Augmentation of your local team with IT Staffing Services
4. Product Testing / Quality Assurance
Quality Assurance activities are key to creating a great product and making it product-ready. In this phase, the product goes through stringent quality checks to validate that the developed product meets the design specs, and has a high usability and UX quotient
Product Testing & QA services work similar to the internal testing units of product organizations, and are thus worth exploring when there is an increased need for QA activity and resources. QA services that are typically offered by professional QA organizations include the following:
- End to End Testing
- Test Automation
- Performance Testing
5. Product Deployment Phase
Once the product is developed, it is released into the market and monitored for user feedback and evolving market trends. These are then channelized into making refinements or enhancements to the product and pushing the same to market in subsequent releases. Product companies should focus on continuous integration and continuous delivery practices which enable development teams to deliver code changes frequently and reliably, thus contributing to the product having a favorable position in the market.
Depending on the kind of product being offered, this phase could also involve product implementation for a client or customer onboarding services, with customization or extensions made to the product, if required and applicable. Some of the services that are offered by organizations to help Product Companies or ISVs (Independent Software Vendors) with this phase include the following:
- ISV Product Implementation
- Integration Solution Implementation
- Training Services
6. Product Maintenance and Support
Products that go to market must have active support and maintenance services in place. This could be to address ongoing issues found with the product itself or with its implementation for a client, and could also include addressing customer queries and helping them with troubleshooting services during their usage of the product.
Support and maintenance services to ISVs are typically provided in the form of:
- Product Support
- Post-Implementation Support
In today’s dynamic techno-business environment, product companies or ISVs must be future-ready and leverage the services of product engineering vendors to maximize the latent potential of their product and outperform competitors.
Boston Technology Corporation offers high-value end-to-end product engineering services and flexible engagement models to meet your product needs. Contact Us today to know more and learn how your organization can benefit from them.