A Roundtable on the topic "The Critical Choice: Services or Product?" was organised by NASSCOM on March 29, 2018, in Bhubaneswar.
Technology and business have shaped a lot in today's market and has given many entrepreneurs to delve into various kinds of startups. There are thousands of products and services available to consumers today and there are unlimited opportunities for you as an entrepreneur to enter the marketplace and compete effectively with a new product or service that's better in some way than what's already being offered by your competitors. However, to succeed, you must develop the ability to decide and offer the right services or products to your customers in a competitive market. More than any other factor, as an entrepreneur with multiple startup ideas, an eternal question is whether to pursue a product or service.
So how do you start? Should you opt for a product or service? That was the big question up for debate at the roundtable.
The brainstorming session brought forth the knowledge and experience of a diverse group of stakeholders – startups, established business houses and academicians from diverse fields. The discussion revolved around the changing dynamics of how solutions are looked at today, and how it was viewed in the past.
Moreover, a solution may commonly be a product or a service, it’s more likely to be “product as a service”, that has been a de facto delivery standard in the industry today.
For example, Batoi provides an easy-to-use cloud platform for creating, using and managing cross-device software applications, websites, and e-commerce storefronts. The Batoi Cloud Platform is a product, but it is made available to you as a service, where you subscribe to and you pay as you go - based on a simple model like number of users and storage etc, without you having to make any upfront investment for the infrastructure or you having to face any extravagant costs. Apart from this, apps like CRM, content management, workflow management etc are also offered as a service from within the cloud platform which you can subscribe to and use. Again, any upgrade to the Cloud Platform or technical customer support is made available to you as a service, as a part of your subscription, that helps you to take advantage of the new releases.