By Ciklum, September 22, 2017, 12:49 PM
Every company eventually encounters that “do-or-die” moment when the product cycle reaches the maturity stage and it’s necessary to pursue innovations. But how can your enterprise make discoveries and upgrade products if you don’t have an in-house R&D department or your existing team needs a fresh eye to help it overcome innovation challenges?
In one way or another, Research and Development departments remain the backbone of most digital production companies. To stay ahead of the curve, R&D should be an ongoing process, which can be extremely expensive if done in-house. From DevOps teams to UX testers, hiring everyone necessary to fill these departments can take up serious resources from yearly salaries to the hardware and software required for the job. Therefore, it may pay off to use the “R&D as a service (RDaaS)” model that can help test concepts and turn them into ready-for-market realities.
R&D Magazine in its Global R&D Funding Forecast estimates that global R&D investments will increase by 3,4% in 2017.
Source: R&D Magazine
RDaaS model suggests that companies no longer need to select just one product or service they’d like to explore. If a CEO and a CTO have been going back and forth on a few concrete ideas which have some groundwork in place, the consulting firm can act as an extended team so each can be flushed out. As partners, the firm would only work on those fixed projects, and once they are seen through, the two can part ways.
However, if ideas are generated quickly enough and need to be brought to market in short order, managed teams are available as part of a partnership with an R&D specialist. This quick turnaround is especially important in the technology sector, where ownership of proprietary software can be the “make or break it” point for a developer.
Aside from lower costs and quicker turnaround times, using the RDaaS service decreases losses if projections aren’t met. This is true for both development and acquisition. New technological developments can often require specialized hardware, software, and networking capabilities. If a company does not have these resources on hand, they would have to purchase them and risk losing their investment if the developed product doesn’t perform as expected.
Likewise, when running tests ahead of an acquisition, an outside R&D firm will have additional technological as well as human resources on hand. No one wants a project or acquisition to fail, but if it does, using an R&D as a Service allows for less risk to be taken in that event.
At Ciklum, our seasoned and professional R&D Engineering team has the experience necessary to bring your product to market as quickly as you need and are willing to work with you full time. If you are a hardware, software or technology company that has a product you haven’t yet been able to research or develop, contact us today!
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