Service Models
There is an array of Engagement and Pricing models for you to consider. Your decision can be based taking into account factors such as the type of tech work you want done, your keenness to evaluate fitment with us, and the likely tenure of engagement. We have shared below, in exclusive sections, finer attributes of the options that fall under both the categories.
Some heuristics that should help set things off in the right direction.
Project Based
PoC / Risk-free Trial
Staff Augmentation
Dedicated
ODC / BOT
Engagement Models
The experience of serving a global clientele, for over 2 decades now, has got us to explore many engagement models while attempting to serve their varied and evolving needs. We have tried to capture the essence of each of those below. You can choose a model that you find aptly suited for your needs or write to us for further customization:
Dedicated Team
You get a team that works full time on your project. They integrate with your in-house team and we share the risks and responsibilities together. We take complete responsibility of the people we provide, and that may also include a Project Manager/Technical Lead who will work in tandem with your in-house counterpart.
Advantages for you:
● Increased technical control and communication as compared to Project-based model
● No responsibility for talent acquisition or career management
This model would be appropriate if you:
● Need full-time, project-ready people
● Your in-house teams lacks certain skills that you do not desire to build
● Are looking for long term projects and partnerships
● Wish to minimize administrative hassles while being in control over the project
Examples
Offshore Development Center : ODC
We provide you with a development team that meets your exact needs, along with the required infrastructure. While you get complete control over the team and the projects, our focus remains on continuously improving the quality of our deliverables.
Advantages for you:
● Your tech partner handles all the business operations
● Reduced Infrastructure costs
● Access to new domains and markets
This model would be appropriate if you:
● Want a dedicated team and office exclusive to your company
● Desire specialized technical skills at competitive costs
● Aim to run large-scale, long-term projects
● Want to enter a particular market
Examples
Build – Operate – Transfer : BOT
BOT Model has elements of the “build” option (that is, “insourcing” or captive center) and the “buy” option (that is, outsourcing). Here, initially, the entire IT Operation/Applications will be managed and developed by us. At a later point in time, based on the contractual agreement, it will be transferred to you.
ODC and BOT Model have many similarities, with one key difference. In the BOT Model we transfer the set-up back to you whereas in the ODC Model, we provide the services till the contract lasts.
Advantages for you:
● Minimize upfront capital investment
● Overcome operational hazards : legal, infrastructure, talent acquisition
● Reduce set-up time
This model would be appropriate if you:
● Desire independent, operational subsidiaries in remote locations
● Expand operations into new markets
● Want to tap into new talent pools
Build Phase
Operate Phase
Transfer Phase
Examples
Project-Based
We will oversee and manage the entire development process. This model works wonderfully well for establishments that do not have their own development team, or possess little or no prior experience in software project management.
Advantages for you:
● Minimum involvement from your end
● No responsibility for managing the talent who work on the projects
● You define the scope and acceptance criteria, and later, just measure the outcomes
This model would be appropriate if you:
● Have fixed requirements for projects with established timelines
● Have limited or no capabilities related to software skills
● Need to execute one– time or low frequency projects
● Don’t have a development team of your own
● When you need to develop a product/prototype quickly
Examples
Staff Augmentation / Extended Team(s)
This model is about augmenting your existing software development team with talent that possesses the specialized skillsets not available with you. The work-related responsibilities remain with you while we handle the administrative aspects of managing the group of tech experts.
Advantages for you:
● Complement internal team with unique competencies
● Flexible model with Quick Ramp up/down
● Suitable for both long and short term engagements
● Greater control over budget
● Complete work-related sovereignty on the augmented team
This model would be appropriate if you:
● Need complete authority on work-related matters
● Desire to keep your strategic competency in house
● Have a project deadline and you need additional resources
● Internal team needs additional expertise for a limited time
Examples
Pricing Models
Very distinctively, there are 3 payment models we follow. Depending upon how engagements pan out, we offer flexibility to switch between these to best suit our client needs.
T&M – FTC/Hourly
This is a model ideally suited to meet project requirements where it is not necessarily possible to establish the exact scope at the outset; where a certain flexibility in required to meet the evolving needs of the end customers. With digitization triggering unprecedented changes in all the industries, this trend is expected to grow further, and with it, the suitability of this pricing model.
In FTC (Full-Time Contractor) model, we arrive at a monthly rate of engagement for a technical expert based on their designation, technology and skill levels. In exchange, we offer a fixed number of hours of work by the person. Hourly rates are best suited where work is either ad-hoc or not frequent.
This is the most apt model if your project falls in the below criteria:
● It is tough to determine the exact scope of work in advance
● Work requires constant changes in response to the evolving demands of the target audiences
Fixed Price
This model has been and continues to be one of the most frequently used outsourcing pricing models. Its effectiveness is based on several factors, juggling all of which has become increasingly difficult with time.
This model is ideal if your project:
● Is a relatively small one with fixed budget
● Has a scope of work that is extremely clear
Milestone Based
In this, the customer is billed when a predefined milestone is accomplished. The model has agreed-upon events or deliverables as billing deadlines. Payment is determined generally by the time spent on work along with the amount of work done.
This model is suitable if you
● Need to ensure the accuracy of the work done before making a payment
● Have a long-term and complex project
Igniting Ideas
To Solutions
Mindfire has the tech expertise to serve the IT and digital needs of companies. Our services are aimed at enabling them to realize their business goals and outperform their competition.
By entrusting your Software Development needs to Mindfire’s Team, you leverage our vast experience in cutting-edge tech-stacks, platforms and industries.
