what is the difference between product based and service based companies...... Answer fast...
Answers
Both make software and it employees software engineers to make them. However there is a difference in software made.
In service company the software development is for a single client mostly. That means there are specific requirements that customer wants. There are SMEs with services companies who know the client enough to understand what they say and then translate that to developers. Developers make sure customer can use the software like they desire.
In product companies, the focus is to develop software to be as configurable as possible. So that it can be used by it's variety of customers almost out of box. There would be dedicated product managers who look at customer requirements and plan a roadmap for the next set of features to be built it into products. In cloud companies there are usually internal customers as well who would be using the software for other customer facing products.
Let me give you an example of the software. Let's say there is a warehouse management system being developed by service company and a product company. These are some of the features developed by services company.
Login page
Search for inventory by name or type.
Add one of the type of inventories that are allowed by the software. Fill in all details and customer can add inventory to warehouse. For new inventory type usually customer to pay services company to develop it.
Inventory request page to purchase new inventory from vendor.
At the same time if product company develop the software
Login page that can be customized to add the company logo and the specific internal login mechanism used by the customer.
Search for inventory by almost any text that is searchable. Customers will be allowed to configure what they want to search the inventory based on.
Inventory addition page that can be customized for any kind of be inventory the customers may come up with.
Inventory request process, usually will be a workflow that uses a flow chart kind of display so that customer can customize the purchase order process.
The difference is mostly in the thought process. The product software try to reduce the customer cost by being more flexible. Whereas in service software the customer would want to go back to service company for any change in software. Don't get mistaken, even in product companies the customer comes back with request that are specific to them. Some product companies do keep customizations per customer as long as they pay.
Some services company develop software which are more complicated than the products in the market. If the client is very big, the chances are software can be complicated and there might not be a product in market than can handle the amount of complexity.
But in many ways working in product companies is challenging because of these factors. Often the products are metadata driven and developing them would be exciting and rewarding
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