Software product development: Answering your FAQs

Having a successful brand and product takes time, effort, and strategies to enter the global marketplace. With the global software market expected to reach US$650 billion this year, competition will even be tougher.

Most software projects fail due to factors such as poor planning, inadequate management, and unclear purpose and market. This failure even costs global businesses up to US$260 billion, according to a 2020 CISQ study.

All of this can be prevented through proper software product development workflows. 

In this article, we’ll answer some of the frequently asked questions about software product development. 

Answering your software product development FAQs

FAQ #1: What is software product development?

Software product development is the process of developing a software system for an organization, whether for internal or public use.

Its workflow is continuously followed by development teams, whether for creating a new product, updating an existing system, or maintaining its functionality.

Basically, software product development aims to deliver high-quality software products aligned with a company’s objectives and quality standards.

FAQ #2: What are the stages of software product development?

Software product development usually involves the following phases:

Product ideation

The development team conceptualizes the product and creates its feasibility study. Here, they can analyze whether the product has a market and how it can help them.

Design

The software’s initial design and prototype will be formed to see how it looks and works.  

Development

The actual product development proceeds once the design is approved by the company stakeholders. 

Quality assurance and testing

The quality assurance team checks if the software meets the quality and compliance requirements during the ideation phase.

Deployment

Once it passes quality assurance testing, the product will then be released to the market.

Maintenance

The existing software products are continuously maintained and upgraded as needed.

FAQ #3: What are the methodologies used in software product development?

The methodologies used by software development teams depend on several factors, such as team size, goals, and existing procedures. 

Here are some of the most common methodologies in software product development:

Agile

Agile focuses on continuously improving systems according to customer feedback. Teams using Agile methods can increase their speed and respond to market trends accordingly.

Scrum

A subset of Agile, Scrum allows teams to manage the product development process at a larger scale. It is designed to add more value to the product throughout its development.

Scrum promotes a cross-functional team that learns from its experiences and reflects on them to improve continuously.

Waterfall

Waterfall is one of the most commonly-used methodologies in software development for its plan-driven approach. It ensures all steps are accomplished based on their order and how each process is done.

Lean

Lastly, Lean development directs a company’s resources into providing more value for customers. It trims down its workflows and continuously improves its ways according to the views of those close to its end-users.

FAQ #4: Why does software product development matter?

Software product development plays a crucial role in terms of keeping up with the company’s demand and growth. More so, it brings the following advantages:

• Optimized processes and resources. Through software product development, organizations can ensure that every resource used won’t turn to waste and their processes are optimized.
• Customized solutions. Software product development even helps them create solutions based on what the organization and its customers genuinely need and deserve.
• Established identity. Compared to acquiring pre-made systems, developing a software product in-house helps companies establish their identity better through their systems.
• Concrete time to market. A proper software development process makes it easier for teams to determine when to market their products and speed up their development.

FAQ #5: Why should you outsource software product development?

Several factors can affect the development costs of a software product, including labor costs and development tools. Keeping product development in-house can break the bank for startups with limited budgets and resources.

Outsourcing software product development not only helps organizations in terms of costs. It lets their operations become more efficient and scalable by hiring offshore staff depending on the demand of their workload.

What’s more, hiring offshore software engineers helps them make their systems up to date. With most providers offering 24/7 service, clients can easily fix errors and bugs to make them run smoother.

Delegating software product development

Software product development becomes successful when done properly. All it takes is proper planning, the right strategies, and the right provider for the work.

Delegating software product development to Saigon Technology, Vietnam’s leading software services provider, allows businesses to build their systems more flexibly. 

This software product development provider is backed by the best software engineers in the country. Companies are ensured that the quality of services they get is at par with their standards and compliances.

Contact Saigon Technology today to get started!