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7 Reasons To Consider Outsourcing Product Development

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Bringing any new product to market is a massive undertaking, but electronic devices are an entirely different beast. Whether it's a consumer-level gadget that bucks the latest trends or a medical device that has the potential to save lives, turning ideas into tangible products is a complex process.

The global electronics market is rapidly expanding, and projections estimate it to reach over $1.291 trillion in 2025. That's the potential that organizations big and small want to claim. But let's face it: If you don't have the means to develop products strategically, even the best ideas won't see the light of day.

Luckily, outsourcing is a viable option for many. Product development is a considerable investment, and turning to outside experts can be a wise use of your budget. Outsourcing all or part of product development to an experienced third party provides many benefits, helping you quickly cross the finish line to a successful product launch.

Here are seven reasons you might consider outsourcing the development of your next electronic device.

1. Leveraging Experience

The most significant benefit of outsourcing product development is relying on an experienced team to bring your ideas to life. Even if you have a couple of in-house engineers, there's a good chance that they don't cover every electronic specialty you need to develop products that meet market needs.

Electronic design requires extensive knowledge of many concepts. Does your in-house team understand the complexities of sensors? What about wireless communication or FPGA design and programming? When you hire a development company, you're leveraging their expertise and tapping into a collective well of knowledge with a team that develops many dozens of new products every year.

Companies like Voler Systems specialize in electronic design. We know how to work efficiently and have years of proven success creating a wide range of products. Rather than going into this development process blindly, you can rely on the guidance and experience of professionals.

2. Better Compliance

Regulatory compliance is a commonly overlooked part of the development process. Companies with little experience launching electronic devices sometimes forget how heavily regulated the market is. Failure to comply with current rules and legislation can land you in hot water and can potentially result in an order to stop shipping products.

That's especially true if you're creating a medical device. Instead of navigating the regulatory system on your own, turn to professionals. Outsourced development teams are already well-versed in compliance issues. They can walk you through the process, ensuring that you're following best practices and making decisions that help you avoid potential problems in the future.

Guide to Developing Product Requirements for Medical Device

3. Expert Project Management

Poor management is the quickest way to kill a development project. Most don't realize it, but there is an abundance of moving parts involved in the development process. Your team needs to determine a core design, choose elements, test feasibility, make prototypes, and the list goes on. Voler makes sure the requirements throughout the development process are clear and complete and that there is collaborative communication within the team, including your team and ours.

There are plenty of ways for things to go south. All it takes is one setback to derail the project, forcing you to go over budget and past your deadline.

You're not just investing in experience and development knowledge when you outsource product development. You're also paying for expert project management. Voler Systems takes project management seriously, leaving no stone unturned to define requirements and plan every stage of the process that results in a successful design.

Highly Successful Engineering Design Projects

4. Professional Risk Mitigation

Risk mitigation is a vital part of project management. It ties into #3, but it's an important enough detail to deserve its own spot.

Every development project comes with many risks. Voler can identify technical risks based on our extensive experience, and we will work with you to mitigate those risks. There are also organizational risks, unknowns you have to overcome in the production phase, and so much more.

A good product development company will understand the inherent risks and identify more issues that could derail your project. They can create contingencies and design the product around the worst-case scenario. Our demonstrated project management methods greatly reduce your organizational risk.

Low-Risk IoT Design: How to Manage IoT Design Risks from Planning to Manufacture

5. Have an Outside Perspective

Here's a benefit that can put your project on a brand-new development track. When you have an in-house team working on a new project, it's easy to miss fine details or overlook crucial elements that might negatively impact the outcome.
People grow passionate about their ideas, some to the point that they can become inflexible to change or unique approaches. Unfortunately, that can lead to severe oversight.

Outsourcing development is like bringing a new set of eyes into the mix. A third-party perspective can breathe new life into the process, helping you find solutions your in-house team never considered.

6. Access to More Resources

Getting help from outsourced product development teams can give you access to more resources that benefit your project. Companies specializing in electronic development often have solutions that can help you bring your product to market more quickly and cost-effectively.

For example, Voler Systems has the Universal Health-Sensor Platform. A pre-engineered system like this can help you move through prototyping and development more quickly. It's an innovative option that allows your organization to save in many ways.

Outsourced teams also can source complex components or even overcome challenging industry hurdles. For example, you can turn to third-party companies to design around chip shortages and other similar issues.

Outsourced teams can augment your internal resources, speeding development and providing skills you may not have.

7. Manageable Costs

Finally, let's talk about cost. Creating a brand-new product is not cheap by any means. Costs can vary dramatically based on the components you use and the overall complexity of the design. However, development and manufacturing costs are increasing across the board. Any opportunity to save is a big plus.

Outsourcing product development is a great way to manage your budget more efficiently. Not only does a development company understand how to design around cost restrictions, but hiring them at all is a big cost-saver. Think about the alternatives.

If you were to design a project in-house, you'd have to hire a team of engineers and specialists. That means covering multiple salaries, benefits, and more.

You can easily avoid a big budgetary jumble by going to a third-party development company. Voler will save you large amounts in manufacturing by making good design trade-offs and by transferring the design to manufacturing effectively.

Turning to the Experts

Ultimately, outsourcing product development is a wise choice for most organizations. From small startups to established businesses, it always pays to get help from experts.

Voler Systems is ready to take on your project! We have decades of experience bringing creative ideas to life. With our dedication to innovative design, strategic project management, and practical application, you can rest assured that the finished product will meet your expectations on time and on budget.

Contact us today to find out how we can help you with your product development.

Contact Voler Systems Today

 

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