The accelerating pace of technology changes shortens the life cycle of products and paves the way for the rapid introduction of new products. This presents enterprises with a complex product management landscape as they deal with both new product development as well as the sustenance of older yet active products. This increases product management costs and cost of product revenue.
Product vendors will benefit from a partner to handle product sustenance activities to meet customers demand for delivery of new features and a rich, data-driven experience. Focused and targeted sustenance activities are necessary to drive additional revenues as well as to retain customers.
Mindtree offers comprehensive product sustenance services that help product vendors in transforming their mature products, maintaining brand through carefully crafted end-of-life strategy and retaining long-term customer base.
Mindtree helps product organizations in meeting key challenges with mature products and product sustenance.
- Customer Retention
By researching competing products and using predictive analytics to identify user needs and insights into product usage, Mindtree can create a proactive plan and strategy to ensure customer retention over the long-term
- Reduce TCO, improve margins and satisfaction
Mindtree helps companies reduce total cost of ownership (TCO) and boost revenues by right-sizing the team, right-shoring the resources, and right-shaping products. We also offer outcome-based business models such as profit and revenue-sharing models with a win-win business proposition
- Partner with proven experience
From devising a project execution strategy to planning, forecasting, and tracking events to providing metrics and delivering customer satisfaction, Mindtree has the experience and platform for end-to-end product sustenance. Through co-investing and co-engineering engagement, Mindtree helps in repurposing existing technologies even as product vendors are adopting newer technologies. Empowered by proven analytics-driven algorithms, we combine our approach with data-driven strategy with software engineering best practices.
Mindtree’s product sustenance solutions can offer the following gains:
- Up to 10% increase in product revenue
- Up to 20% increase in CSAT
- Up to 15% reduction in the cost of product sustenance
- Up to 50% decrease in time for transition
- Up to 80% unlocking of experienced resources