Simplify Software Development Journey With Our Cost Effective Solutions
At Epistic Technologies , we understand that each project is unique, and we work closely with our customers to determine the most suitable costing, pricing, and engagement model for their software development needs.
Epistic offers wide range of IT & software development solutions to the global clientele. We take pride in our process driven culture and transparent business environment - setup to deliver quality solutions. We provide custom solutions in the domain of mobile, web and digital marketing targeting small, medium and enterprise customers. Below are the Engagement Models through which we connect with global buyers of our services.
Development Cost and Engagement Models
At Epistic Technologies , we offer various engagement models to cater to the diverse needs of our customers. Below are the list of costing models provided by us.
Time and Material Model
With this model, customers are billed based on the actual time and resources spent on the project. It provides flexibility for projects with evolving requirements or uncertain scope. This is one of the most common engagement models for most offshore development companies.
Hire A Developer
Our dedicated hiring team model allows customers to hire a dedicated team of skilled developers, designers, and testers who work exclusively on their project. This model offers flexibility and seamless collaboration.We also provider option to hire epistic developer to finish some part of their project.
Fixed Price Model
This model offers a predetermined price for the entire software development project. It is suitable for well-defined applicaion development projects with clear requirements and timelines.You can hire Epistic for the full scope of the project from concept to delivery.
Hybrid Model
We also offer a hybrid engagement model that combines elements of fixed price and time and material models. It provides the advantages of both models, allowing for greater flexibility and cost control.
Agile Development Model
For projects that require adaptability and continuous improvement, we follow the Agile development model. It involves iterative development, frequent client feedback, and incremental delivery.
Offshore Development Center (ODC)
Our ODC model allows customers to establish a dedicated development center in an offshore location, such as India. This model provides cost-effectiveness and access to a skilled talent pool.
For Start-Ups
1. Equity-Based Model: For start-ups with limited capital, we offer an equity-based model where we become a strategic partner and receive equity or a percentage of future profits in exchange for software development services.
2. Revenue Sharing Model: In this model, we collaborate with start-ups and share a portion of the revenue generated from the software solution, ensuring a mutually beneficial partnership.
Build-Operate-Transfer (BOT) Model
In the BOT model, we build and operate the software solution for a specific period. At the end of the contract, the ownership is transferred to the customer. It offers a smooth transition and reduced risk.
Maintenance & Support
1. Service-Level Agreement (SLA) Model: With the SLA model, we establish a formal agreement that outlines the level of support and response time for maintenance requests. Customers pay based on the defined SLA parameters.
2. Retainer Model: Our retainer model allows customers to retain our services on an ongoing basis. They pay a fixed fee or a monthly retainer to access our expertise and support for software maintenance, bug fixes, updates, and enhancements.
FAQs realted to software development cost and engagement models
What is outsourcing and how does it work??
Outsourcing is the practice of delegating certain business functions or processes to external service providers. At Epistic Technologies, we work closely with clients to understand their software development needs and provide dedicated teams for their projects. Our offshore development teams collaborate remotely with clients to deliver high-quality software solutions.
How much does it cost to develop an app?
The cost for mobile app development can range from $10,000 to $1,00,000 in India. However, actual price is determined by the complexity of application, type of mobile application, business model, and experience of app developers you choose.
What determines the cost of software development?
The software development costing is directly proportional to the size of the software and its user base. Its size is defined by the number of screens or pages you plan to include in mobile application and the size of the user base is defined by the number of end-users it is expected to use the application.
How can I lower the costs of software development projects?
At Epistic , we understand the importance of cost optimization. To lower software development costs, we recommend:
1. Efficient Requirement Analysis: Clear and detailed requirements help minimize rework and prevent cost overruns.
2. Agile Development: Embracing agile methodologies allows for iterative development, reducing project risks and optimizing resource utilization.
3. Smart Resource Allocation: Our experienced team ensures efficient allocation of resources, avoiding unnecessary expenses.
4. Leveraging Open-Source Solutions: Incorporating open-source software components reduces licensing costs without compromising quality.
5. Thoughtful Project Planning: Effective project management and scheduling help avoid delays and budget overruns.
What strategies can I implement to optimize development costs?
To optimize development costs, consider these strategies:
1. Prioritize Requirements: Focus on essential features to minimize development time and cost.
2. Efficient Resource Allocation: Allocate resources according to skillsets and project needs, ensuring optimal utilization.
3. Automation: Embrace automation tools and frameworks to streamline development processes and reduce manual effort.
4. Code Reusability: Encourage code reusability to save development time and effort on repetitive tasks.
5. Continuous Testing and Quality Assurance: Implement robust testing practices to identify and fix issues early, avoiding costly rework.
What are the benefits of outsourcing software development?
Outsourcing software development offers several benefits, including access to a global talent pool, cost savings, faster time-to-market, scalability, and flexibility. It allows businesses to focus on their core competencies while leveraging specialized expertise for software development projects.
Is outsourcing software development a good idea?
Yes, outsourcing software development can be a smart decision for many businesses. It allows companies to tap into specialized skills, reduce costs, accelerate project timelines, and gain a competitive advantage. However, it's essential to choose a reliable outsourcing partner like Epistic Technologies to ensure successful project execution.
How much does it cost to outsource software development?
The cost of outsourcing software development varies depending on project requirements, scope, complexity, and the engagement model chosen. At Epistic Technologies, we provide competitive pricing tailored to each client's specific needs. We offer cost-effective solutions without compromising on quality.
Does outsourcing reduce costs?
Yes, outsourcing software development can lead to cost savings. By leveraging the expertise of offshore teams in countries like India, businesses can access a skilled workforce at a lower cost compared to in-house development. Additionally, outsourcing eliminates the need for infrastructure and overhead expenses associated with maintaining an in-house team.
Does outsourcing increase profit?
Outsourcing software development can contribute to increased profitability. By reducing operational costs and gaining access to specialized resources, businesses can optimize their resources, improve efficiency, and deliver high-quality software solutions. This, in turn, can enhance customer satisfaction and lead to increased revenue and profitability.
Why do companies go for outsourcing?
Companies choose outsourcing for various reasons, including cost savings, access to specialized skills, flexibility, scalability, faster time-to-market, and focusing on core competencies. Outsourcing allows businesses to allocate resources strategically and gain a competitive edge in the market.
What are the benefits of outsourcing software development to India vs. other regions?
Outsourcing software development to India offers several advantages, such as a large pool of highly skilled IT professionals, competitive pricing, a robust technology ecosystem, English proficiency, and a favorable time zone for collaboration with clients in Western countries. Epistic Technologies leverages these advantages to deliver cost-effective and high-quality Web and Mobile solutions.
If you still have query, Reach us and our team will be happy to assist you.