Different type of Technology Outsourcing Pricing Model to your business

1. Different type of Technology Outsourcing Pricing Model to your business There is a huge difference in price between various IT service providers for the same type of services. There are many reasons for the price variations. These are mainly four types of pricing models popular for billing. You can choose any of them as per your business and project requirement. 1. Fixed Price Models. 2. Time and Materials (T&M). 3. Mixed- Mode Pricing Models. 4. Dedicated Development Team.

2. Fixed Price Outsourcing Model and its pros and cons As the name indicates the price of services decided before the work commences between both client and vendor. The work has to be delivered in a recommended time frame. Once both parties agree with a final negotiation. the total cost of the project fixed before the project and no further increment in cost during the project. Pros Less chance of distrust. No hidden cost. Less need for supervision. Cons Limited control over the process. The preparation takes much more time.

3. Time and Materials Price Model and its pros and cons • If the Software development project has not a pre-defined goal and the Project needs a lot of flexibility during the development phase. The time and material are the best price model for that type of development Project. In this model, the service is chargeable on an hourly, daily, weekly, or monthly basis. The priority bases development is a key factor of this model. What you want to get developed first, you can get done the task on a priority basis. • Pros • Prioritization of work. • More Flexibility. • Access to agile development methodology. • More control over Project. • Cons • Not a clear deadline. • Low control over the budget.

4. Mixed- Mode Pricing Model and its pros and cons It is the combination of the fixed price model and the time and material model. If the project requirement is not clear but you want to complete the project within a certain time limit. Then you should go with the mixed-mode pricing model. You can keep your project dynamic requirement with fixed cost or time duration. Pros More flexibility with time and cost. More cost-effective. Get the benefit of agile development. Cons Some time Issues with communication. More time needed for participation.

5. Dedicated development team Pricing Models and its pros and cons This is one of the most flexible models in terms of the expansion of the team based on your project requirement. You can build your team according to your project requirement and skills. In this type of model, you can hire a dedicated development team for a required time period and take the advantage of expertise in the best way as your development requirement. Pros Dedicated and reliable team. More effective and higher flexibility. Direct communication with the team. Cons More project management efforts. More time consuming.

6. Choose your best suitable outsourcing pricing model with Yukti solutions Select an outsourcing pricing model that is best suitable for your business requirement with us. Yukti solutions provide values and high-quality services to help your overall business growth. Let’s connect to discover possibilities with us! Visit Us : https://yuktisolutions.com/ Mail at : info@yuktisolutions.com Or call : 91 - 90136 88294