subject: Outsourced product development…. A critical differentiator to profitability [print this page] Outsourced product developmentOutsourced product development. A critical differentiator to profitability
Outsourcing is no longer considered as a choice but as a necessary requisite for strategic business functions. It is increasingly being appraised and regarded as a practical option for planned business functions.
Outsourced product development is a boon in today's volatile business environment. Outsourcing lets an organization to thrive in stiff competition and hidden economic recession. It also lets a business expand its horizons into new markets, to introduce new and innovative products and apply the latest product development technology to a business.
In such highly competitive environment outsourced product development has become a critical differentiator to a business' efforts to greater profitability. Through outsourced product development, a company can minimize design cycle times, reduce costs and risks; target the right customer, creating the best and innovative product through the latest technology. Overall, outsourcing lets improve the overall competitiveness in the market.
This trend has already been caught up with developed countries like America to outsource product development to countries like India. The aim behind outsourcing is indeed to cut down the costs and risk but most importantly, it helps a company to focus on its core business issues. Focusing on core area functions further helps a company to solve business process issues. Also, it lets a company to transfer management and maintenance, which optimizes application investment. Accessing global expertise also lends a cutting edge to the outsourced product. Thus, outsourced product development is a great and critical element for a business' profitability and efficiency.
Visit www.thepsi.com to know more about outsourced product development.
