The software product companies (SPCs) segment (also known as independent software vendors) is undergoing dramatic changes the world over. Though the SPC space has shrunk significantly in recent years, the emergence of the cloud, the maturing of the SaaS (software-as-a-service) platform and rapid growth of enterprise-class mobility have resulted in a paradigm shift in the manner in which software is developed and delivered.
Today's SPCs are focusing on newer technologies and platforms to deliver products that are customer-centric and innovative and cater to the varied needs of the consumer. And shorter product lifecycles, proliferation of innovative new solutions, and rapidly changing customer tastes, have made the SPC eco-system a very dynamic place to be in.
What's more, the emergence of the cloud is forcing SPCs to revamp their strategies, slash capital costs and streamline internal processes to meet the growing demand for innovative solutions. Also, the proliferation of smartphones and tablets has brought about a dramatic shift in the SPCs' approach, especially with leading vendors of enterprise solutions launching mobile versions.
The changes in the business environment have compelled SPCs to draw up strategies to outsource software development to improve delivery, lower development costs, de-risk business, and reduce time-to-market. We have worked with leading SPCs in various engagement models wherein they retain core research, design and development in-house and partner with us for productization tasks such as testing, packaging, and ongoing maintenance and support.
Many SPCs also outsource the entire product development tasks to Iris. They have differentiated their strategic initiatives from their tactical ones, and have made a case for tactical initiatives to be addressed by Iris. Additionally, products need to be carefully maintained and versioned so that they support a wide reach of customers across multiple releases.