A well devised business model, carved according to your needs, becomes a bridge between your vision and its appearance in real. In the current economy, we realize that customers are increasingly demanding the flexibility that best serves their unique business requirements. We provide the option of selecting a combination of business models to suit various phases of a project cycle.
Symbol has evolved business models, with a clear value proposition for an onsite business partner and an offshore team. The objective of any business model would be to provide a virtual team to the system integrator while adjusting the level of commitment, level of control, investment required (both time and money) and the cost savings generated to optimum levels through software economics for the situation at hand.
Strategic Sourcing with Symbol is very different from traditional outsourcing models. With Symbol, you don't give up control and you can dramatically reduce your costs and IT headaches. Symbol's approach to outsourcing can also substantially improve IT effectiveness and help organizations achieve strategic business goals.
A few broadly classified business models that we adopt are:
Our fixed time, fixed price model offers customers a low-risk option and can be employed when the scope and specifications of the project are reasonably clear. This model guarantees on-time, on-budget delivery of projects. Deliverables, Costs and Timelines are clearly defined in the Fixed Time/Fixed Price model.
We keep the IP (Intellectual property) of the product, but share full rights to use the software. However, if the application is fully designed when it reaches us, then we give the IP rights to the client.
This model works best for - Customers with well-defined requirements and project schedules. Under this option, the customer pays a pre-negotiated fixed price for the complete project, which in turn is linked to well-defined deliverables. For any change in scope a predefined fixed hourly rate agreed at the initial stage of start of project is paid. For any changes there is a standard change request procedure that is followed for which we have structured processes in place.
Time and Material Model:
With the time and material engagement model, your costs and schedule will vary depending on your specific requirements and on the complexity of your project. This gives you maximum flexibility and also allows you to make substantial revisions to your project even as it is being developed.
Under this model, you pay as per use of the hourly development efforts. We define the business model and work hand in hand with our client for its execution. At times once the scope is frozen, the time and material project also gets converted to the fixed price model. We have very strict project management and reporting practices whereby task sheets are generated on a daily / weekly basis for each developer on the project.
In this business model, Symbol forms project teams with the required team members, project managers, equipment and infrastructure based on project requirements. Customers pay a monthly charge based on the size and composition of the team.
Symbol provides knowledgeable, skilled, motivated, energetic and competent consultants who work seamlessly as part of client teams to provide quality solutions. We keep our consultants on the cutting edge of information technology by providing them with ongoing advanced training and skill-building workshops.
FTE (Full Time Equivalent):
We can provide you with a team of full time equivalent employees for your specific requirements on setting up an offshore development center. You can choose to hire a single professional and then scale up to a full-fledged development center.
Advantages to client:
(Head - New Products & Business, Ormax Media Pvt. Ltd.)
It's been a pleasure interacting with Piran. The most notable aspect about his work is his speedy reverts on all projects. I'm happy with his designing work for our website.