New strategy for product development

BANGALORE: “Global organizations see an increased value from outsourcing R&D functions and believe that it provides an opportunity to improve time to market,” reveals the survey conducted jointly by Wipro Technologies, Global IT Services Division of Wipro Limited and Outsourcing Center, on trends in R&D outsourcing.

The survey, which was conducted among CTOs of global companies who are subscribers of Outsourcing Center portal, sought to understand key drivers to outsource R&D and how this aligned with their overall R&D strategy.

The study revealed that the greater value that companies see in R&D outsourcing is the opportunity it provides to tap into worldwide skills and capabilities to improve existing products and services and accelerate new R&D. The study also revealed that selecting an R&D partner with a deep knowledge of emerging markets and new geographies will enhance the value that companies can achieve through their outsourcing strategy.

Commenting on the report, Debra Floyd, COO, Outsourcing Center, said, “This study indicates a strategic change that is taking place in the way companies are looking at their R&D and new product development strategies. There is an increased trend of companies partnering with various outsourcing providers to achieve faster time to market and more cost-effective innovation. There is clearly an increase in companies adopting a collaborative model of product development to be able to stay competitive in a global marketplace.”

“As the world’s largest independent R&D Services provider, we have been spearheading the emergence of a ‘global innovation network’ where we work with the principal as well as several partners across the complete product development lifecycle starting from product strategy to IP development, embedded engineering and chip design right up to building a prototype of the finished product”, said Ramesh Emani, president, Product Engineering Solutions, Wipro Technologies.

“Increasingly, we are playing the role of an aggregator and not just a vendor, in some cases even partnering on a ‘risk-sharing’ compensation model”, he added.

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