A business model is a Work Agreement, signed between IT services provider and a client. This Work Agreement or Contract, specifies working methodologies, delivery terms, pricing and other contractual parameters.
Depending on the scope, duration, size of workforce needed, time to market, control & risk factors involved and responsibility ownerships different engagement models are available. Each model is best suited for different types of needs and engagements.
Apart from that CodeEpsilon also offers custom built model as per your requirement and needs. To help you make a propose decision, here is a quick comparison of the three most widely applied models: Fixed price, Time and Materials, Dedicated Team. The factors mentioned are the not the only ones governing the decision but are the key decision making factors.
Fixed Price Model is best suited for small or medium scope projects which have well-defined requirements & scope. A Fixed Price engagement requires a clear scope & well defined specifications.
They have a strict delivery plan, defined milestones & strict budget. Any changes to the defined & agreed scope are then taken up as separate modules or separate project, having their own delivery plans & budgets.
Thus these projects are often seen as multiple back to back fixed price iterations.
As stated, this model is best suited for short-medium projects where the budget, scope & specifications are strict & clearly defined. CodeEpsilon based on their experience, supports you in your thoughts and helps streamlining your requirements, so that we together can come up with agreed scope and budget. Once agreed the requirements and budget are put into contract as per the agreeable conditions.
Development of Products or Enterprise Solutions calls in for more involved and very long terms relationships between the customer and the vendors. Our CodeEpsilon Development Partnership (CDP) is specifically designed and nurtured for this purpose.
It defines a mutually trusted Software/Product development relationship with our customers which is different from the conventional software development outsourcing relationship.
The core objective of this model of engagement is EXTENDED INVOLVEMENT, creating an environment of CO-INNOVATION and CO-OWNERSHIP and SHARING the outcomes resulting in ENHANCED BENIFIT or REDUCED RISKS on either side as the case may be.
There are custom models, protocols and specifics that can be decided based on individual cases. Our team of experts can assist you with the formulation of the exact model that will suit your need and engagement.
Dedicated Team Model is best suited for your long term needs where you get maximum control over the engaged CodeEpsilon team.
CodeEpsilon provides you with a highly competitive team along with infrastructure in lines to your needs which is exclusively dedicated to your project.
The CodeEpsilon team assigned to you, works dedicatedly for you as per your defined structure and roles, until the contract duration. The contract mentions the pay-out per billing cycle for this team which continues till the contract duration.
This model is best suited when you have the experience and capacity to control and monitor the execution and delivery. Also this is the best suited model when you want to set your own priority and scope at your own pace.
It is best suited when you want to have an extended developer arm which is also cost effective. This model gives you high level control in terms of execution and delivery from the engaged team.
Business Trends changes and so does the expectations from your customers time to time. Time and Material Model offers an engagement model which is best suited for long term projects, as they are more susceptible to the changing business trends and end customer expectations.
This model gives you the flexibility in terms of accommodating team size, timelines and specifications during the development cycles in lines to the project needs. It is very evident that in such cases the total scope of the project, efforts involved and thus the budget cannot be determined in advance.
The billing cycles can also be defined being monthly or bi-monthly and the bills are raised in accordance to the actual work involved and reported by the team. You are always kept up to date of the progress via sharing the activity details of every team member weekly or fortnightly, as per contract definition. This model offers a balance between control and flexibility.