While bringing ideas to life is an exciting and fun part of the business, its road to success isn’t a cakewalk. It requires a great deal of technology, human expertise, and a blend of both. If you have a good idea, you need a great tech partner who can help translate your vision into reality. Wondering how to identify the right partner for your product development? Your search for the right product development company ends here!
There are hundreds of product development companies and thousands of developers worldwide. Out of these umpteen number of product development companies choosing the best-fit partner for your product development project is no mean feat. Keeping in mind the fast-changing industry trends and complexities in the product ecosystem, we have created this 10-point checklist to find your best product development partner.
A good product development company should help you build your dream product the way you want it. Besides meeting your business requirements, your product development partner should have a demonstrated history of creating stunning products for a wide range of clients across industries. Domain expertise, value for money, commitment to quality, and customer service are a few of the prime factors you need to consider while you are on the hunt for the best product development talents.
10-Point Checklist For Choosing The Right Product Development Company
The adjoining checklist helps you understand what you should look for while choosing your product development company and helps you feel confident that you are making the best business decision. Here is a ten-point checklist that helps you hire the best company for your product development.
→ Company portfolio
→ Design and UX expertise
→ Domain expertise
→ Customer feedback and reviews
→ Project management process
→ Security guarantee
→ Testing methodologies
→ IP and ownership rights
→ Pricing and payment modes
→ Other key factors
#1 Company portfolio
The first step begins with checking out their portfolio of launched projects and products. Doing some in-depth research on the following details will help you assess their credibility.
→ Their years of experience in product development
→ Their team size that will work on your project
→ The certifications and candidature of their developers
Don’t limit your research to the case studies and company information that are published on their corporate websites. A simple market research will help you get a hang of their real expertise and experience in the market.
#2 Design and UX expertise
An ideal product development company understands the importance of user experience and product design. More than being a creative process, product design requires business understanding and technology to go hand in hand. Here are a few questions that help you assess your partner’s design expertise:
→ What’s the time they take to deliver and finalize the mockup design?
→ How do they approach the design iterations?
→ What are their UX methodologies besides wireframes?
→ How do they do the usability testing?
#3 Domain expertise
The tech stack needed to build your product differs based on your business requirements and industry. It is of paramount importance that the product development company you choose has the domain expertise and capabilities to build your dream product. Here are some basic questions for you to check with your product developer:
→ Relevant experience in building products for the same domain
→ How do they study your industry and draw market insights?
→ How do you ensure that the company understands your business scope?
#4 Customer feedback and reviews
One of the easiest ways to understand the real efficiency of a company is by checking out their customer reviews and how the company has responded to the complaints. Explore some client reviews online on third-party review sites and forums. You can also contact previous clients of the company and gain authentic and first-hand reviews on their experiences.
Reach out to their previous clients with the following questions”
→ Was the company easy to communicate with?
→ Are their workflows seamless and transparent?
→ How equipped and qualified is their team?
→ Do they deliver on time? (The most important question, don’t you agree?)
→ Are they worth the money?
→ Is there any hidden charge?
#5 Project management process
The company might hold a great profile but what really matters is the capabilities and attitude of the team (or a person) that interacts with you on your project. Because it’s with that assigned personnel that you’ll interact on a daily basis and learn your project status. So, you should discuss beforehand how their project management works, who will be assigned as your SPOC (single point of contact), and how they hold accountability for the key milestones and deadlines. If they have a project tracker and management tool that helps all the teams stay on the same page, it’s really advantageous.
#6 Security guarantee
Great possibilities will always come along with great challenges. While the innovation and rapid advancements in technology have revolutionized the way businesses are run, the threat to data security is also at stake in this world of endless possibilities. The company you choose should be well-versed in protecting your corporate data and customer data. Ensure that your product developer uses standard-compliant security measures and coding hygiene.
#7 Testing methodologies
Unless you test your product in real-time in terms of both functionalities as well as customer feedback, you will not be able to go to your market with confidence. Partner with companies that hold themselves responsible for testing your product and enhancing your product by incorporating the testing outcomes. Testing makes a product complete and your ideal product development company should have experience in novel testing methodologies. Also, do a market study to check if any of their previous clients had faced a security breach and how they had resolved it.
#8 Intellectual property rights
Despite you have owned the idea, it is the product development company that has developed your idea as a groundbreaking product. Now, who can claim ownership of your product? If you want to own your intellectual property, you should discuss terms upfront and black and white. Your payment agreement should cover all the deliverables and other commitments extensively. Include your terms and conditions on on-time delivery, post-launch support, and maintenance, technical assistance, etc.
#9 Pricing and payment modes
This is one of the most crucial items of the checklist that needs prime importance. You need to clearly establish documented conversations and agreements on the overall payment, mode of payment, frequencies of payment, key milestones, etc.
#10 Other key factors
Here are some other important parameters that will help you:
- Legal aspects: Ensure if your partner is ready to sign the non-disclosure agreement and/or other legal processes related to the privacy policies. Written agreements help you hold the upper hand in the business and be on the safer side.
- Ethical values: It is important that you partnering with a reliable company – either an established firm or a development agency – that has healthy work ethics, appreciates, and values relationships. It makes your business processes easy, stress-free, and more organized.
- Communication: Healthy communication is integral to the success of any project. Especially when it comes to product development, you should choose a team that keeps you in the know of every step, gives you feasible ideas, and appreciates feedback.
- Integration with third-party software: Technology is fast-changing and if you are not embracing the changes at the same pace, you’ll be left behind. Your partner should build your product in such a way that it is future-proof and integrating with third-party software shouldn’t be a daunting task for you.
Turn your product idea into reality with the best product development company
There is an overwhelming increase in the number of companies that offer product development services and solutions. In the increasingly competitive landscape, you shouldn’t be falling prey to deceptive advertising and end up with substandard service providers. A recent survey from a leading firm reports that 23% of entrepreneurs have burnt their fingers at least once by investing in the wrong company that never helped them build their product the way they want. Therefore, keep in mind these parameters that help you stay on the top and stay ahead. Follow this space for more resourceful articles on product design, development, and strategies.
Got a brilliant idea? Want to build a great product? Looking forward to giving a stunning shape to your dreams? Siam Computing helps you unleash the fullest potential of technology and turn your dreams into reality. The experienced product development company houses a team of product developers, designers, strategists, testers, business analysts, and product specialists who leave no stone unturned to build custom products tailormade to meet your business requirements.
Looking forward to a free consultation on how to kickstart your product development process? Our experts are just an email away. Write to us at firstname.lastname@example.org. We would love to help you with our delightful business solutions.
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