The contractual agreement which represents the type of business relationship between the client and the outsourcing/offshore partner is known as the commercial engagement model or just business engagement model.
Depending on the current business needs of a particular enterprise the offshore partner will recommend a bespoke business engagement model. The outsourcing partners offer flexibility and freedom that simplifies on deciding the right engagement model that will support the business goals.
The Fixed Bid Business Model fits the projects with well-defined requirements. This model can be applied where clients are able to specify sufficient details for the completion of their projects.In this model, the cost and time invested in the project are previously estimated and then a lucid project plan is formed. The fixed-bid business model helps clients easily hire the right developers and accurately control the fund-flow.
Advantages of TopWeb Fixed Bid Business Model:
* No need for a company to involve within the long-term partnership
* The price-agreement is decided in the beginning and is not subject to change in any condition.
* Minimal administrative burden and associated risks.
The Time & Material model is most suitable for the projects that require flexibility. Time and Material engagement model is favored by many clients since it allows you the control over cost and development progress of the project. This type of business model is successful for software projects that lack a complete vision of the final product. When it is difficult to specify the scope, specification and implementation for the development of a project, time and material engagement model is the most attractive option.
Advantages of TopWeb Time & Material Business Model:
* Offers adaptable and flexible budget.
* Pay in parts.
* Low risks- as the project development can be altered or canceled at any step.
In this type of business engagement model, the outsourcing partner provides a team of skilled and expert IT professionals to contribute by enhancing the project progress by sharing the workload and reinforcing the existing team. The selected team of dedicated professionals will cater to the project requirements by giving their undivided attention. While outsourcing partner is responsible for recruiting and administering the dedicated team, you are given the control over the team and project.
Here are the advantages of Dedicated Team Model from TopWeb:
* Rapid implementation of solutions
* No investment in maintaining in-house development team or infrastructure
* Focus on core business requirements
* Flexibility in the utilization of manpower
When deciding on an engagement model to support your business projects, you can check the important factors, requirements, expectations, time, and budget and accordingly choose the business model that will fulfill the needs. Regardless of the type of engagement model you choose, you will get benefits like experienced tech-savants with deep knowledge of various domains, diverse technical platter, and services to choose from for supporting your project, also scalable and custom made solutions and services.
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