- How We Do It
For many companies, developing a new software product can be daunting. Their teams are used to supporting and enhancing existing products which is very different from designing and developing a new product.
With an existing product, you know your customers and their needs, but when developing a new product, you only have ideas to start with. That’s why teams need additional process and technology guidance. In this case, the client found themselves in a similar position.
As a leading provider of technology solutions and payment processing services for the financial services industry, this client supports more than 11,000 financial institutions and generates over $1 billion in revenue annually.
The client identified a market opportunity to build a treasury management product that would help them serve larger financial institutions.
The market was saturated with products that were too complex and cumbersome to use. This complexity created inefficiencies and increased operational costs for the banks and their customers. Therefore, they chose to pursue user experience as a core differentiation strategy.
The client was looking for a partner who could bring a user-centered design approach to discovering and developing modern software. That’s why they decided to partner with ProductStack.
Product Definition & Planning
The engagement started with ProductStack’s Product Definition and Planning Workshop. In this phase, ProductStack helped the client formalize their product strategy and create a product roadmap. This enabled the client to align the project stakeholders to a shared product vision and an approach that would work within their unique context.
The team also established that the product’s usability would be a key differentiator in the market. While the client had a wealth of knowledge in their backend infrastructure, they did not have the expertise in user experience or modern user interface (UI) technologies. That’s why they engaged ProductStack to design and develop the user interface while having their team members develop the backend APIs.
Learn more about Product Definition and Planning Workshop.
To get started, ProductStack and the client created a joint discovery team of subject matter experts, product managers, user experience designers, and experienced technical architects.
The ProductStack team conducted user research and based on the insights gained, created high-fidelity prototypes that demonstrated key aspects of the software. Then the team conducted usability tests and iterated till the product met the users’ needs and was intuitive to use. Once verified, the prototypes were ready for development.
Learn more about Product Discovery.
During development, the ProductStack team was responsible for developing the user interface layer, whereas the client team owned the integration of the API layer to their existing backend systems.
The joint team followed Agile methodologies, using three week sprints to develop the software. The software was delivered in small chunks but over the course of the engagement, over 125 views were developed and integrated into the back-end infrastructure. Both teams followed a rigorous definition of “done,” which ensured that the product was developed with high-quality.
Learn more about Product Development.
For companies who are planning or developing a commercial software product, this dual-track agile approach (with a parallel discovery and development track), allows you to mitigate market risks by ensuring that you first discover the right product, and then develop the product right.
With ProductStack’s Product Definition and Planning Workshop, the client quickly developed a shared understanding across all stakeholders on the product vision, goals and constraints. This ensured that everyone on the team was focused on delivering the business outcomes that the project sponsors desired.
By using the principles of user-centered design and by conducting usability testing, ProductStack ensured the team was building the right product - one that would help the users get their jobs done efficiently, while providing a delightful experience.
The ProductStack team supplemented the client team with expertise in modern UI technologies to develop high-quality software. This collaboration allowed the client to leverage their strength and fill skills gaps where needed.
A journey of a thousand miles begins with a single step. Start your digital transformation journey with a FREE 2-hour consultation with Rahul Mohan, CEO, ProductStack.
In this deep-dive conversation with Rahul, you will refine your business ideas or challenges, and walk away with clear next steps.