Product development is a journey, it involves ideation, evaluation, analysis, development, testing, and commercialization. This process requires a deep level of involvement from the core team and larger investment in terms of time, money and efforts. That is why we at Pratiti technologies insist on a POC before entering into full-fledged product development.
A POC (Proof of Concept) can help you create a consensus among key stakeholders, find acceptance amongst end-users, showcase your solution and its features to the decision-makers and help you create the pitch for the investors.
There are many more reasons why creating a POC or a prototype should be the first step before detailed product development. Read on: Why POC is necessary for your product development journey?
The Technical Feasibility of the Project
Before entering a full-fledged development, it is important to know if a product idea is technically feasible. For instance – when a Mumbai-based bike servicing company decided to launch their mobile app for a seamless customer and mechanic connection, they were not sure if the member card functionality will work effectively on all major smartphones and tablets. And even if it did, will it pull customer’s upcoming services from the server and run smoothly on all major mobiles.
Building a POC for this specific section and checking the member card functionality features solved the assumptions and the company could decide on which method and technology to use to create the module.
To Test Market Acceptance
Many times early end-user feedback can help determine the readiness of the target market. We have observed that at times many innovators become too self-centered w.r.t to the idea and lose the focus from the problem and needs of the end customer. The right market feedback helps solidify the business case for the idea and the product.
Save Time and Cost
The POC takes care of any high-risk areas by identifying them beforehand so that the required changes to the feature, architecture or flow can be made, cutting down on the rework post-development.
For instance, the practical representation of architecture through POC can calm worried stakeholders and cut down on the related discussions that can arise during the development period, thus saving time amidst the development phase. The POC also lets you do a cost analysis to help you outline the overall development cost. Presenting this upfront gives you better control on the cost, development time and the possibility of changes.
To Get Ready for Investors
For startups, we at Pratiti routinely recommend a POC, so that you have a solid case to showcase to your investors. Getting an investor on board at an early stage can take care of the early financial needs and secure the uncertainty. A successful POC can aid your investor pitch and help you garner better ROI from the ready product.
Create a Better Understanding of the Outsourced Product Development Partner
When you work with a new product development partner, there will always be differences in the ways of working, doing a pilot or POC can go a long way in helping you understand the knowledge skills and professionalism of the tech partner. You will understand the processes the development partner follows and attitude, capabilities of the team.
At Pratiti technologies we follow a unique tech development process which has continuously delivered results for our customers, we have detailed out these steps in this guide to help you ensure successful tech product development. You may download the guide here,
Doing a POC before entering a full-scale product development helps decide the feasibility of the idea, understand the product objectives, help evaluate the market to verify the solution acceptance, help develop full-proof product development plan. So, whether you are developing an IT or IoT product do your POC and ensure successful outcomes.
Reach us on (+1) 214 714 0750 for a free consultation regarding any needs in IoT and AR/VR software product development using SMAC technologies.