By admin, August 1, 2016
Every business idea faces some unique set of challenges. An idea must be evolved, developed and productize before it reaches to the end consumer. The value attributes, drives the marketability and hence it requires a careful planning and approach to be on the road to success. However the story does not ends here, organization encounter new challenges at every stage of product life cycle and it needs credible, passionate and reliable partnership to take the productized idea to the next level.
Leo Technosoft has added yet another success story to its credit by virtue of Technology Business Accelerator – BOMT. BOMT offers comprehensive solution that ensures minimal risk and better market reach for solutions.
Our client Hiro is a Startup focused on building an online portal “Heropay” to help merchants make simple, seamless, and more informed payment processing purchasing decisions. When a credit card is processed for a payment, Heropay helps merchants see the available card processing services, compare the processing fee quoted by service providers and helps choose the best deal available. Heropay serves not only as a deal platform, but also as a networking platform for merchants and processing service providers.
Hiro was exposed to Startup challenges like inexperience in development, deciding an appropriate development environment, setting up processes that can ensure timely delivery of the project.
The budgetary constrains was also a big hurdle. Hiro realise the high risk of over running the budget because of their limited exposure to operation management, development and infrastructure need.
The management did not consider aspects like usability analysis, security, risk management, marketability, and adaptability as domain in the project plan. This would have had, seriously impacted the success of the project.
With online sales purchases and sales everywhere, Leo TechnoSoft helped Hiro to develop platform to ensure best deal for everyone. It aimed to ensure that the last mile of exchange between consumer and merchant would be the best possible fit for their business. As per the requirement of client, Leo TechnoSoft developed Heropay using the BOMT Technology Business Accelerator. Aimed to help Heropay avoid risks, offer them right guidance regarding project management, infrastructure management, cost-efficient solutions and identify right partners for further investment.
The projected was executed from Leo Technosoft’s ODC to reduce the spent on resource and infrastructure. The strategy was also instrumental in garner savings, allocated to low touch marketing effort.
In the Build Stage, planning was done for the development of applications and suitable technologies for the development of application were selected. Development team developed intelligent search algorithms to find and fetch the best deals available on payment processing fee that can be compared side by side.
The development team also assisted in conceptualising and building value added features including calculator, online questions, E-Commerce gateways, EVM Migration, rating filters, helpful videos and Facebook share option to offer an exceptional user experience.
The testing team worked closely with the development team towards the end of the development stage to achieve quality and compliance requisites.
Benefits of BOMT model for Heropay
By utilizing BOMT model, Heropay experienced following benefits:
Technical support: Developers of Leo TechnoSoft developed the online platform for Heropay where merchants and POS service providers would connect with each other.
Low operational costs: As mentioned earlier, low operational costs due to select steps being taken initially helped Heropay to save costs.
Risk Diminution: As BOMT model focuses on “Build what you need rule”, developing Minimum Viability Product (MVP) minimizes the risk factor of a budding business.
Process expertise: Experts at Leo TechnoSoft planned the procedure to making the Heropay‘s business operational and launching it.
BOMT(Build, Operate, Market, and Transform) model, It is an innovative hybrid partner product development that offers a low-risk, hassle-free, cost-effective global sourcing strategy. BOMT works exceptionally well with StartUps, Entrepreneurs and ISVs. It ensures incubation, development, Gestation and transformation support to increase revenue and maximize ROI in short span of time.
Being at Operate stage, Heropay has the guidance of expert developers who have developed the web application. It is ready to move to the next stage called Market.
For more details about service i.e. BOMT please click here or write us at– firstname.lastname@example.org.
Benefits of Methodology
Advantages – By utilizing BOMT model, Heropay experienced following advantages:
Low organizational costs:
BOMT model contributed to the development of Heropay in instalments. Initial stage included planning and basic operations. That required lower investments.
Low labour costs:
BOMT model does not kick start all operations of business at the same time. Therefore, few operations require few working hands and thus, lesser staff. This cuts labour costs.
Low infrastructure cost:
As initial setup required fewer devices and less staff, there was no requirement for higher size of infrastructure. Hence, infrastructure costs were low.