An Independent Software Vendor (ISV) needs to stay ahead of intense competition. Challenged with limited resources, ISVs must find the balance between efficient product management and engineering support requirements.
Product management is a crucial function of any ISV. It provides insights required to make strategic product decisions. By analyzing the market conditions and competitors, ISVs can lay out their product vision, strategy, and timeline. However, mismanagement can cause significant problems with the quality of the products and may even hamper growth.
Here are three reasons why ISVs must consider outsourcing product management:
1. To Enhance Efficiency
In most cases, ISVs find it difficult to support the operation and efficiency of legacy products. Through outsourcing, ISVs can take better care of legacy products and meet customer demands. Outsourcing product management is a great way to vet product managers who are accountable for product strategy, releases, ideation, and prioritizing features.
2. To Help Leadership Focus on Business Growth
As an ISV owner, you are constantly looking for new areas or ways to penetrate new markets to grow your business. While there is no lack of ideas, ISVs often face problems with implementing initiatives due to constraint of resources. In such scenarios, ISVs can seek help from a strategic partner to offset the risk in case the product fails. Also, while the strategic partner takes care of product implementation, ISVs can better focus on business growth.
3. To Gain Access to World-Class Talent and Capabilities
Outsourcing is a better option to supplement your team, for a new product launch, A/B testing, UI prototyping and even the leveraging of new technology. Since an outsourced partner works on a variety of projects, they use critical skills and standard approaches to accelerate the entire software development process.
Looking to hire an agile team or outsource product management? At Analytix, our incremental, iterative, and lean design process creates the perfect market-leading products for ISVs.