The advent of technological innovations has changed the technology landscape of the business environment. Today's software market with its rapid transformation provides customers with cloud computing systems, mobile computing and consumerization of technology. Further, the changes in technology also brings about demands for development of world-class software applications reshaping the industry horizon. As a result software developers are continuously re-evaluating strategies and business models, product line delivery channels and partnerships to ensure increased profits and a competitive edge.
A good way for enterprises to stay ahead of their competitors is to make innovations work on the similar product lines than diversifying. A product line – a portfolio of closely related products with variations in features and functions, rather than just a single product is what the customer-driven enterprises target today. Product line management refers to the method of using innovative marketing procedures to the existing product line and works as a powerful technique towards profit generation. By managing a software chain and other allied products together, the enterprises ensure retention of their customers even with new products and services available in the IT market.
With enterprises driving towards maximizing profits, they tend to juggle between priorities such as maintaining current products or investing in new product range. Sound advisory services can help enterprises take on these decisions based on the technical abilities, resources available, effectiveness of the process and the product lifecycle. Product line management relates to delivering products separately while maintaining a line of similarity.
The ever-changing customer demands and technological innovations facilitates development of new products. However, as new products or newer versions become available and are used by the customers, enterprises need to eventually phase out the older versions or old products. As part of product lifecycle management , the end-of-life or end-of-service of any product is dependent on the economic requirements of the organizations, its business strategy to re-balance the resources or make products more cost-efficient. Leading service providers have developed software product line management services that can help the enterprises painlessly phase out the older versions of the products while maintaining the service bridge for end-users of the same.
Use of product line management services benefits enterprises in a number of ways. Besides facilitating to manage the end-of-life initiatives of their products, it also helps to reduce the costs in migrating to newer versions. Moreover, these services benefits the enterprises to maintain their revenue and profits of the product line, maintain end-user relationships through cross-market opportunities, reduces management issues, mitigates risks and eliminates the need to focus on product engineering and technical support. With a focus on revenue optimization and modernization these services ensure enterprises have stepped up to retain their customer.
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