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Thursday 23 September 2021
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Software Product Development Strategies for the Now

Software Product Development Strategies for the Now

The goal for software product manufacturers is to achieve remarkable product speed without compromising the quality of the product and it is often the one challenge most companies face.

Therefore, companies keep an eye out for ways to accelerate their product development, often because speed and quality can get them ahead of their competitors.

An uncommon known fact is that Amazon has a software change every 11 seconds, about 8000 changes every day? So you can get an understanding of what this would do to their competitors who do not make changes so often.

The challenges increase as systems get smarter and more complex

Often to the dismay of the business, when their system becomes “smarter” it also becomes more complex and more complicated to build. Software engineering teams who work in regulated industries (Healthcare, Financial, Insurance) deal with painful product and systems development and management due to the increased compliance regulations. In such industries, the margins of operation have always been rigid, with little to no room for error, and supporting product integrity is often a challenge.

Increased innovation is the key and the curse.  Embedded software into the latest technology is becoming commonplace.  IoT connected software has also changed expectations. The seamless interaction with technology solutions across platforms and devices is demanded.  Evolving technology upgrades is the only way to keep customers happy and your competition at bay.  Therefore, many organizations have a hard time keeping up with the rapidly accelerating pace of change, especially when they have limited resources in their teams who have limited time and capabilities. Product development is often plagued by preventable delays, which can make or break your business.

Yes, I’m done with the gloom and doom of Software Product Development.  What should your strategy be to ensure your products are fast, high-quality and user-friendly?

Although these “strategies” may seem more like requirements, they are tried and true!   All businesses need these just to survive. Viewing these to help you achieve competitive separation by providing something that customers value, that can’t be duplicated by your competitors, and leveraging the core competencies of what your company is good at.

Empower Better Decision-Making by having a Well-Define Product and Development Strategy including Idea Validation

  • Understanding the “why” of your product strategy is the first step. The strategy can be defined only when you know the purpose of having the product in your product line-up.   It will help allow team members to make fast, high-level quality decisions.
  • Objective non-biased evaluation is crucial at this step. Remember, you are trying to draw a correct map of the real world to see if this solution fits in. A viable product development strategy should never neglect this important step.
  • Leaders need full visibility into the progress and tradeoffs under consideration in development, and definers and developers should have full visibility into the expectations of the business.
  • Decisions need to be captured and assigned owners, so everyone involved can start and record follow-on questions to visible resolution.
  • By providing context, strong relationships, and understanding the why, your teams will be
  • able react to the new information more effectively for better outcomes.

 

Regulatory compliance demands will include strong testing and traceability process

  • Testing and traceability analysis can provide the compliance activities required by regulatory entities.
  • The product development team implement testing strategies that are both time saving and effective. Choosing automated testing that includes regression and performance based stresses will deliver the needed results thus improving your product capabilities.
  • Traceability activities can also link back to the business rationale. Does this test fulfill customer needs? Does it carry out business goals? When everyone across the organization involved in product delivery is connected, each individual can quickly reach out to teams or individuals for faster decision-making and evaluate all the up and downstream implications of decisions.

 

Your IP is yours, make the most of it, use it well.

  • Code reuse is not a new strategy. It helps companies accelerate their software development lifecycle, successful companies find ways to reuse their IP at every level.
  • Product development is a business issue; it cannot live in the development world and absolutely needs to be a strategic priority. Products will not get built faster or better by throwing more technology resources at the development and product teams.
  • Customers are transforming their businesses to innovate and out-compete. Change is happening in the enterprise. At the end of the day, your business builds value from what you deliver to the market, so there’s nothing much more important than doing this right.

 

Hire the right development partner to collaborate to meet your market pressure

  • Purposeful collaboration should be included in every conversation, every decision about changes can import into new projects, so teams can be confident they are using only the latest approved and validated information.
  • Choosing the development team for your product is the next important stage in product development. Your benefits include high-quality products getting to market faster with the right partner with adedicated development team that has the right mix of skill and expertise.
  • The right people on your team can reduce the TTM, helps you come up with innovative products and control costs effectively.
  • Collaboration is the layer that brings the whole strategy together- people and applications. Keeping communication connected to the work in modern product delivery organizations ties directly to success.   Decisions are not made outside the process or stored in locked documents or email communication.  Communication that is connected to the work will lead to project success and satisfaction completion.

 



Tracy is responsible for the marketing of Telliant Systems. Always looking for ways to increase Telliant Systems' brand. She loves finding ways to show how software development can make our daily lives better and more productive.


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