FactEngine's Proof-of-Concept (POC) business engagement model is a framework for testing a new business ideas and/or product features before launching it fully in the market. This model involves working closely with customers to understand their needs and preferences, and then developing a prototype or beta version of the product to test with these customers.
NB At any stage FactEngine may request that customers enter a Consultancy Agreement with FactEngine and/or migrate to FactEngine's Commercial Engagement Process.
Here are the key steps in FactEngine's POC business engagement model:
- Identify the problem: The first step is to identify the problem that your product or service is addressing. Together we will clearly define the problem and understand the pain points of your business process.
- Conduct research: Once we have identified the problem, FactEngine will conduct research to understand needs and preferences and technological solutions. This can involve surveys, focus groups, and interviews with your target audience/user group.
- Develop a prototype: Based on FactEngine's research, FactEngine will develop a prototype or beta version of the product or service. This will be a simplified version of the final product that we can test with you.
- Test with customers: FactEngine will invite a select people to test the prototype. This will allow FactEngine to collect feedback and make improvements before launching the product fully.
- Iterate and refine: Based on the feedback FactEngine receives, FactEngine will iterate and refine the product or service. FactEngine will keep testing and making improvements until FactEngine has a product that meets our mutual needs.
- Launch: Once FactEngine has a product/service that is validated, FactEngine will launch it to market in unison with you, FactEngine's customer.
The POC business engagement model allows FactEngine and you to test the product or service in an early/iterative manner, which can help identify any issues or challenges before launch. By testing with a small group of people, we can save time and money in the long run by avoiding costly mistakes and ensuring that the product meets the our mutual needs.