What does Outsourced Product Development (OPD) mean?
Outsourced product development (OPD) is a practice in which an organization hires a third-party provider for the development of products and services in a variety of fields (such as IT, business, communication and HR), and even idea generation. OPD success depends on finely integrated strategic planning, communication, collaboration, management and specialized resources.
OPD implementation success hinges on continuous and consistent communication between decision makers, especially managers, engineers and business owners. This collaboration streamlines communication, production quality and, ultimately, customer satisfaction.
Outsourcing product development (OPD) is proving to be a sensible strategy for staying ahead of competition and ensuring timely product releases. Other factors driving its adoption are the lack of talent at a single location, lower costs for better quality, and higher business flexibility.
OPD implementation recommendations include:
- Development during daylight hours
- Testing during evening hours
- Outsourcing to locations north and south of an organization’s corporate office and production facilities to minimize time zone variances
- Recruiting and hiring high-quality team members. Distance should never detract from innovation.
- Small teams are more efficient than large teams. Thus, management must establish a balance to ensure team synergy.
- Intellectual property (IP) costs are part of doing business. If IP considerations are not enforced, it may be necessary to switch providers or create innovative products for customer retention.
Today, given the increasing competitive pressure and consumer demands, product companies are forced to build new products and releases as quickly as possible. By outsourcing product development (OPD), we mean the outsourcing of a complete or major part of the product development lifecycle (i.e., not just coding or any other standalone engineering process). OPD allows you to focus more on market analysis, marketing, and business development activities that directly impact the success of the company and its bottom line, while your vendor takes care of development tasks.
Some companies like ours offer a one-stop shop for companies seeking OPD to minimize costs, increase product life spans, and reduce time-to-market. We are committed to helping our clients build software products of superior quality and bring them to the market faster.
Baysource Global’s outsourcing services will help you get to market faster, with less cost and higher quality. We’ve been successfully doing it for over a decade so you can be sure that we’ve mastered the process.
Outsourcing strategies continue to move up the enterprise value chain. Today, the benefits have evolved beyond mere economic advantages to a value proposition that encompasses greater speed, efficiency, and expertise.