This is very much correct. Basically, When we are setting up a business venture, if not in product development, at least in billing, we will be using a technology product such as a Computer/POS (Point of Sale) Machine/Credit Card Swiper/QR Code for Scanning, etc. Otherwise, if we are setting up an Online Business or We are Developing an Internet/Mobile Banking Application, or We are Developing a Software Turnkey Solution or Even We are Developing an IT Product, or We are developing a Mobile App, or a tine Mobile Device; the Choice of the Underlying Products/Components We select to keep as part of Our Product Platform is Very Much Important. There Will be Several Compatibility and Feasibility Related Issues. This Specific Management Insight describes the Key Aspects to Focus on While Selecting a Particular Product for Your Platform.

Key Aspects to Focus On: Following are the Key Aspects to Focus on When Selecting a Product for the Platform:

  1. First Thing is Product Features: this is Very Much Important; before paying money, before procuring the product particularly the software product, One should Know the Key Features of the Product. This is Very Much Important. Otherwise One will End Up in Struggle, Finding the Alternatives for the Feature He Requires wasting lot of Productive Time. Despite Being Paid for the Product, One Won’t be able to Reach the Objective With Respect to His Platform/Product Development. Lack of Needed Feature in Procured Product leads to Raising Support Ticket with the Vendor, Further Involves Communication; if that specific patch is not Available with the Vendor, We won’t be able to tell When Our Platform/Product Development going to be Completed. This is because the Vendor May say that the feature we needed may be available after Couple of Quarters; that too, without Certainty. To avoid this Kind of Situation by Paying Money in Advance, The Organization Procuring the Product must Evaluate the Product, Study Product Features and Verify Whether all the Features they Needed are Present in the Product or Not Much ahead of Time. This saves Lot of Time, Money and Effort in case of the Procuring Organization.
  2. Second Thing is the Underlying Technologies: I will tell you the scenario.For example, One Organization wants to Migrate their Website from One Web Service Provider to Another Web Service Provider; Or They Want to Migrate Their Product from One Operating System to Another Operating System; or They want to Change the Underlying Technologies in the Product While They are Migrating on to New Platform/New Operating System/New Web Provider. In all these scenarios, We Should Be Aware of the Underlying Technologies that Web Service Provider or the Operating System is Using; and also should Evaluate Whether Those Underlying Technologies are Compatible with Their Product Technologies or not. Sometimes, The Organization Migrating from One Operating System to Another Operating System or From One Platform to Another, they may not have the Needed Skill Set in New Technologies The New Platform/Operating System/Service Provider Required.
  3. Third Thing is Underlying Costs: this is very much Important, Before Getting on Board with a Service Provider/a Product Provider, One Should Know Whether it is Subscription based Pricing or One Time Payment, or It is Product Price Plus Service Cost or is there any Additional to be Paid Service Contract or are there any Hidden costs after One Year etc. One should plan the Cost Estimate How much it come to annually; and also They should Estimate the Annual Percentage Hike in Service Charges As well.
  4. Fourth Thing is Compatibility:  both data communication, voice communication, and control communication is possible with Our product to the Procured Product or Not is to be Find out Much ahead of time; Otherwise it becomes a Challenge after Procurement; Integration Issues Popup.
  5. Fifth Thing is Report Generation: One Should Verify Where the Product/Tool being Procured Supports Customized Reports or the Needed Reports are not. Otherwise, Internal Functionality will be There, However, Presentation to the Management Decision Making may be a Challenge. Hence, in the Pilot Evaluation itself, Sample Reports are to be Generated and Get Them verified with Management Team, that is, Whether it Supports Their Decision Making or not.
  6. Other Key Aspects: Whether One Will be Able to Extend it or not, in case the Vendor goes Out of Business, What are the Alternatives? are to be Thought about. Also, an Organization Should have Idea about What Technologies Their Customers are Using before Procuring a Specific Tool or Technology.

Evaluating, Assessing and Verifying a Product/Tool Feature before Procuring will Avoid Several Surprises for the Performing Organization. This saves lot of time, money, effort, and rework, and reduces future Uncertainty and Future Risks. Through Examination along with Features of the Product/Component/Tool is Very Much Important to Ensure the Success of Performing Organization.

                                                                                                Thank You,

                                                                                                Dr.Goparaju Purna Sudhakar

                                                                                                (https://gpsudhakar.com)

Leave a Reply

Your email address will not be published. Required fields are marked *

*
*

Captcha *