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Unlocking the growth frontier through software product innovation

Today, software products have become an integral part of your company, a critical component of customer experience, new services, and revenue generation. They have become the primary touchpoint to take the pulse of your customers and a source of continuous innovation which is crucial if you want to thrive in today’s rapidly evolving technology landscape.

Enterprises want to maximize the value throughout the software products’ lifecycle. However, they often struggle to deliver on this. They face difficulties in developing a cohesive R&D plan own to a multitude of challenges, including a bloated portfolio comprising multiple software products with overlapping functionality, a deficit of software engineering talent, users, reluctance to migrate to new products, and the need to continue to cater to their legacy customer base. This eventually translates to sub-optimal allocation of the R&D budget across the three stages of the software product life cycle, hindering enterprises from taking up innovation initiatives.

While existing and legacy products can generate significant revenue for enterprises, these products tend to consume considerable resources to maintain. This then depletes R&D budgets and limits opportunities for creating new and modernized products that can lead to long-term growth. Having greater visibility into the software product lifecycle across the three phases – innovation, development and enhancement, and end-of-life allows enterprises to make better business decisions, gain a competitive edge, and have better product efficiency.

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