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How Can Managed Service Providers Help In Product Lifecycle Management?
Digital Transformation

How Can Managed Service Providers Help In Product Lifecycle Management?

By Ankan October 27, 2021 - 151 views

Most enterprises today are focused on creating new products and being on top of the innovation ladder. This gives you the competitive edge and is the primary business goal. However, the products and innovation being done and deployed needs constant management to keep their lifecycle running. This is where managed service steps in to support your Product Lifecycle Management. 

A Managed Service Provider is a dedicated service provider, present on the threshold of a customer as per the customer’s insistence. The term Managed Service Provider is analogous to management and support-focused tasks like software development partners. The objective is to provide end-to-end technology support & service to maintain your operations and accelerate your business transformation journey.

A products’ success depends continuously on listening to the consumer and market, analyzing, and course correction. A managed service provider could mitigate the challenge of retaining that agility in your product lifecycle management.

What to Consider While Hiring Managed Service Providers?

  • Enterprising

The Managed Service Provider team should be enterprising enough as a software development partner able to provide end-to-end solutions. It is a requirement of every firm looking for Product Lifecycle management. An enterprising MSP should have ready talent in DevOps, back end, front end technologies, designer and project managers. It should also have the ability to understand your product. Domain expertise is a key variable to look at while choosing your MSP.

  • End-User Support Savvy

The MSP or Managed Service Providers are considered savvy in providing the best end-user support. An established MSP knows how to interlace the technical and interpersonal skills to provide the best kind of end-user support to the company.

  • Prompt Market Accession

Every company thrives in the competitive market when the end-product reaches the market promptly. The entire product lifecycle management relies on how you continuously learn from your users and market and bring in new features to keep on adding to the product life cycle. 

The prompt market accession is generally more effective if the Managed Service Provider has proven expertise in that specific market

How to Combine Product Lifecycle Management and MSP?

There are four segments of the product life cycle management that can be integrated with the Managed Service Providers for its benefit.

  • Product Introduction

A product at the beginning stage usually suffers from low sales. The Managed Service Providers can help the product at the beginning phase with marketing, design, simulation and so on.

  • Product Growth

The growth phase of the product can also be accelerated and scaled with the outsourcing of parts of marketing activity and adults like SEO, SMM and so on. Support service can be outsourced to an MSP to address the growing customer base and its experience.

  • Product Maturity

The product maturity phase is expected to be the longest phase for a successful product. The tech-savvy Managed Service Provider as the software development partner can support to keep the product add and adopt more features and feedback.

  • Product Decline

Product decline is the last phase of a particular product. Even then the team can help to find a new market for the product that is already declined in a particular market.

This is what the combination between Product Lifecycle Management and Managed Service Providers can offer – agility, scalability, quick reaction, continuous improvement and support.

Final Words 

Just like the other natural beings, a product also has a lifecycle. Project Lifecycle Management can only work if it is managed in a professional way. That is why you need an efficient Managed Service Provider that can support you with good Product Lifecycle Management services.