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Examples of industry softwarization

Oilfield servicing companies spin out software divisions to monetize the digital platforms built to manage their oil rigs. Drink bottlers use their experience in the FMCG business to build software tools to help other businesses manage their processes and supply chains.

But it's not just about selling software out of necessity; it's also a cost-optimization strategy that yields higher profit margins. For example, the drink bottler can shift their business model to offload physical and human infrastructure to an ecosystem of suppliers and focus on its core business.

The software-defined vehicle has transformed the automotive industry, giving manufacturers a range of new revenue streams and ways to differentiate their brand (e.g., Advanced Driver Assistance Systems (ADAS), advanced safety features, enhanced driver experience capabilities, and extended reality features to assist with navigation).

Software is critical to customer value and loyalty, new business models, and revenue generation. According to research from McKinsey, nearly 70% of the top economic performers across a range of industries use their own software to differentiate themselves from their competitors.

Why change, and why now?

When is the right time to place bets on software product engineering? The answer is now. Here are two reasons to make the change.

Reason 1: Design better products, roadmaps, and experiences

Software product engineering enables you to create products and services that offer a memorable and differentiated experience. You'll build software that is sustainable by design and easy to use. It has quality of experience (QoE) at the core, infused with customer feedback at every stage. A customer feedback loop ensures that you keep the customer at the center of everything you do, continuously improving your offering. Products are built right the first time, avoiding costly rework in the development process.

Reason 2: Don't just keep up, get ahead

Software product engineering enables you to develop and launch complex products with production-grade quality at startup speed. Your products will scale to handle enormous growth in users and data and ensure outstanding performance at sustainable costs.

It will also help you to create a portfolio that's strategically aligned, bottom-line driven, and brand coherent. Your portfolio can evolve rapidly to offer new features and experiences to meet fast-changing market demands, resource scarcity, and cultural shifts.

Two trends in software product engineering

At Capgemini Engineering, we have the privilege of working with leading enterprises at the forefront of software product engineering. Here are two trends we're noticing.

Trend 1: Increased pace

Speed has become the new currency of the software product business. Enterprises in every industry face the challenge of accelerating software capabilities to:

Secure their market position against disruptors, or

Gain market share from their competitors by providing new features, experience, and value

This pace can be felt in different areas. Software products and services must keep pace with customer needs and preferences. Software is not a one-time solution to the market. It must evolve and keep pace with customer needs. In addition, software must adapt to changes and developments in the technology landscape, including cloud computing and artificial intelligence (AI).

In a market where first-mover advantage is paramount, and winner-takes-all dynamics exist, time to market is critical. A delay in innovating new software products can result in missed market opportunities.

Trend 2: The digital economy

The tech world revolves around a digital economy.

This digital economy sees the digitization of economic activities and the integration of digital technologies into various sectors. This economy relies on these digital technologies, like the internet, mobile devices, cloud computing, and data analytics, which drive faster communication, data processing, and global connectivity.

In the digital economy, data is digital gold and those who can best leverage it hold a significant advantage. For example, AI and machine learning technologies allow personalized recommendations, predictive analytics, and automation across a growing range of sectors, from finance and healthcare to marketing and entertainment. Utilizing this data offers a greater understanding of the performance of products (and how consumers engage with them). This can help businesses future-proof themselves through a greater connection to the needs of these customers - and an understanding of how those needs will evolve.

In Part2 of this blog post series, we'll explore software product engineering's challenges and how to succeed with it.

Want to learn more about how to succeed with software engineering? Download our white paper on Engineering Next-Generation Digital Products.

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Why all products need a software-product engineering strategy

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Software is critical to customer value and loyalty, new business models, and revenue. In this blog, we detail two trends in software product engineering and two reasons to start now.

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One of the many trends among high-growth companies in the last five years has been the emergence of an entirely new role, or engineering skill set: Product engineering. A quick glance at Google search trends reveals that searches for product engineers have grown over 80% in the last year, and are 3x greater now than just two years ago.

If you've never encountered this role before, it may be tempting to dismiss the notion as simply another hiring label used by companies pursuing 'rockstar' candidates to take on the work of typically separate roles.

However, product engineering is not merely a newly fashionable hybrid role. It is fast becoming its own discipline, complete with its own tech stack and characteristics.

In this article, we'll explore what product engineering is, how it differs from other disciplines, why it is so valuable to high-growth start-ups, and what tools and techniques are typically used by product engineers.

What is Product Engineering Anyway?

At the most basic level, a product engineer can be defined as someone who combines the skills and role of a product manager, and a software engineer. In practice, this means that product engineers can and will write code, but they also speak to users directly and take a broad responsibility for a product or feature. Typically they have a focus on frontend work, and will spend the majority of their time on engineering tasks - but not always. They can also be backend, or full-stack engineers.

At a broader and more nuanced level, product engineers generally have a deep sense of empathy and curiosity, which they use to build better products. To quote the Pragmatic Engineer:

"[Product engineers] are empathetic about how the product makes users feel and how those users benefit from using this product. They often dive straight to data about business and user metrics, getting their hands on this data however they can...They do this because of their curious nature."

Pragmatic Engineer goes on to explain that product engineers also need to be great communicators, with both engineers and non-engineers. These sorts of soft skills are obviously typical of strong product managers, but combine especially well with the technical ability of a software engineer.

Finally, product engineers are often obsessed with data, and can use it with their sense of empathy to find new opportunities for a product or team. Product engineers will often use product analytics tools in combination with A/B testing or surveys to gather as much information as possible and to test new ideas.

To quote the Pragmatic Engineer again: "They often dive straight to data about business and user metrics, getting their hands on this data however they can. They might access it directly-if this is possible-or approach the product manager or data scientists."

Why Are Product Engineers Important?

Strong software engineers and product managers are already among some of the most valuable members of an organization because of the outsized impact they can have. Even so, product engineers are uniquely valuable because of their ability to remain entirely autonomous within a team. Rather than relying on a product manager to set a strategy, or a software engineer to fulfill it, a product engineer is capable of doing both without support.

On a day-to-day level, this means that product engineers are often proactively collecting user feedback, spotting product edge cases and acting on the data they collect. Most importantly, they are intuiting product improvements and building prototypes to assess their impact.

To quote Sherif Mansour: "Product engineers are always seeking autonomy and fast decision making."

Unsurprisingly, product engineers are especially potent and sought after for early-stage products or teams, when there is a lot of greenfield to explore and product-market fit may not have been established. In such environments, product engineers with the right tools can be among the most impactful members of an organization.

What Stack Do Product Engineers Use?

In addition to the typical tools used by engineers, such as a coding editor, product engineers often leverage tools used by other roles, including product managers, marketers, and designers, such as:

Feature Flag Software: Such as LaunchDarkly or PostHog, to deploy new features quickly, or to launch beta versions of new prototypes so they can gather usage data.

Session Replay Tools: Such as HotJar or PostHog, to collect information about how users actually engage with a feature. User surveys are often used to gather additional feedback as a follow-up.

A/B Experimentation Platforms: Such as VWO or PostHog, to prove hypotheses and test the impact of frontend changes to a product.

CI/CD Tools: Such as GitLab, to enable constant iteration and free up engineers to focus on product vision rather than infrastructure.

Data in all forms is also tremendously valuable to product engineers, so product analytics are another essential part of the stack. Tools such as Amplitude, Mixpanel, and PostHog enable product engineers to interrogate data in order to find new opportunities. In fact, PostHog has a dedicated program for startups that offers many perks, and a generous $50,000 of credit.

Conclusion

As we've covered here, there isn't necessarily an "either-or" for product engineering vs. software engineering, as product engineers often contribute directly to software projects. But the rise of the discipline suggests the growing importance of being able to ship products more quickly while incorporating data-driven user feedback.

Additional Resources

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What Is Product Engineering? (And Why Does It Matter?) | Heavybit

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Product engineering is an emerging discipline that straddles engineering and product management to collect and implement user feedback.

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Unlocking Success Through Software Product Engineering

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Get a better understanding of product engineering for businesses to ensure maximize the value they get out of a product throughout their entire lifecycle.

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Software Product Engineering Company | Rishabh Software

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As a software product engineering services company, we expertly create & manage the development lifecycle from strategy to build, deployment, sustenance & support.

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Product engineering services, in basic words, entail designing an electronic product using software components, hardware compatibility, and industrial design methodologies. Various Product Engineering Consulting firms serve accessories, healthcare products, aircraft & military, industrial goods, electronic goods, and various other sectors.

Product engineering services include various programming tools and devices, memory devices, microcontrollers, software platforms, gateways, and UI tools to develop and engineer a product. On the contrary, it also scrutinizes different quality and environmental regulations to assure protected and guarded deployment of products.

A product engineering process manages the full product lifetime, from concept generation through analysis and design to rollout. Various investors like product designers, technical consultants, industry experts, etc., are also included in this process. Product development businesses have long recognized the necessity of creating user-centric solutions that meet an unmet need in the community.

What does Product Engineering Imply for today's business?

Product Engineering encompasses the steps to guarantee technical assistance for business solutions in hardware, software, integrated devices, brand conceptualization, and IT network.

It covers all aspects of system testing, covering research and development, planning, building modules, the process of analysis, incorporating software into business processes, distributing software via SaaS network, and deploying software resources in tandem with web deploying and managing.

Client-driven technology has resulted in a conceptual change in business software engineering from traditional, inflexible processes to flexible and adaptive product engineering.

Product Engineering Phases Can Be Seen As Follows:

Product Conceptualisation

Structure of a Product

Product Evaluation

Product Development and Testing

Relocation and Porting of Products

Technical Solutions

Hiring product engineering services has been prevalent since it enables businesses to focus on their core competencies while maintaining a viable technological stack.

The perks of professional services and solutions for your business:

Numerous firms have specialised assistance in managing product engineering activities based on time-honoured concepts of increased durability, flexibility, cost-reduction, agility, and effectiveness. Using these services frees up extra resources from these chores, allowing firms to focus on the most fundamental aspects of their operations.

The following are some of the benefits that Product Engineering Services provide to businesses:

They provide organisations with more capacity to focus on their main business growth while the Product Engineering Services service handles the remaining portion.

Provides a less expensive and speedier path to mastering advanced tech.

Product Engineering Services implements cross-functional and cross-platform solutions to provide easy compatibility inside applications.

Scaling according to customer demands allows for effective and flexible debugging.

Conventional services are being simplified to stay ahead of the competition, and Traditional Application Modernization is deployed.

For long-term success, businesses are to be built on the dual pillars of durability and scalability.

Stages of Participation for PES Services

Recognising Competitive Benefits

It's essential to comprehend your business's core assets and how Product Engineering Services may help you improve your operations. This step is also known as pedigree identification, and it may aid in predicting consumer trends and modifying the software system to confront their necessities effectively. It also aids you in staying one move before the competition and outperforming the industry.

Modeling and Innovation:

Project requirements and product specifications may change fast in an organized framework. It's critical to calculate the financial and time costs of these adjustments, as well as their overall influence on your establishment's objectives.

A skilled Product Engineering Services support staff can assist you in making the smart investments feasible regarding software adoption, project implementation, and POC conception and give insights into the program's probable costs, potential consequences, and overall viability.

Product Development and Assessment:

The engagement model continues into its next development and validation stage, once the product engineering consultant has agreed on essentials, such as the infrastructure needs, team structure, software stack to be utilized, time schedules, budget issues, and many others.

These businesses typically provide a lot of HR experience that helps to achieve your destination. The consulting company then develops the architecture, creates development and prototype, and delivers the product for continual assessment and improvement following the Service Level Agreement.

Comprehensive quality engineering is essential to tailor product performance to the requirements of consumers. System analysis can happen parallel to consumer acceptability testing, helping to understand system development or product resilience and efficacy.

Service Implementation from Start to Finish:

By improving your technology stack by harnessing the potential of new technologies such as cloud computing and IoT, enhancing your business. Product Engineering Services consultants enable you to analyze and optimize goods and processes using tuning tools, facilities, and frameworks to fulfill client requirements.

Synchronizing the whole process by leveraging E2E tech stack concepts helps minimize the time required for product creation and assures continuous upgrading and product enhancement, assisting in keeping you ahead of your consumers.

Assistance and maintenance of products:

The engagement stage is the most important step for any customer since it might be the difference between a successful and a disastrous product for the company. Customer confidence in the consultant is increased due to proper product assistance, which also helps to guarantee a smooth digitalization process for the customer.

The major aims of product engineering services are:

Keep/Enhance client loyalty: Satisfy functional and non-functional requirements. Install, utilize, integrate, upgrade & substitute. Evaluate and repair unbothered faults.

Reallocating current attention and resources to various offerings

Improve Return on investment: Cost reduction, maximize investment on current product improvements. Improve productivity/efficiency with a high degree of efficiency in processes, evaluating, and elsewhere. Focus more on basic skills.

Acquire expertise about customers: Prolong the product's life. Improve product description of forthcoming generation. Successfully manage assets.

Providing competitive edge: Improve sustenance by DevOps. Drive Business Data for insights into customers. Customize supply and economically structured marketing strategies.

Conclusion

While many organisations and businesses are still getting to know Product Engineering, it has already proved to be beneficial in speeding up the entire business process when it has been implemented. It is clear from the above discussion that the growth of product engineering services will continue to increase at an exponential rate in the years to come. Don't wait if you have a manufacturing product or solution in mind; instead, contact a product engineering services firm to remain on top of things.

Check out all the software testing webinars and eBooks here on EuroSTARHuddle.com

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Benefits of Custom Product Engineering Services | EuroSTAR Huddle

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Product engineering services, in basic words, entail designing an electronic product using software components, hardware compatibility, and industrial design methodologies. Various Product Engineering Consulting firms serve accessories, healthcare products, aircraft & military, industrial goods, electronic goods, and various other sectors.

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Software as a Service (SaaS) has led to the process of gradual transformation of client enabling engineering services from traditional software engineering to product engineering. Product engineering takes care of the entire product life cycle from the innovation phase, starting from the idea being conceived to the deployment and user acceptance testing phase.

Let us now understand, what are the various phases of product engineering? The various phases of product engineering are:

Product Ideation

Product Architecture

Product Design

Product Testing

Product Migration and Porting

Technical Support

Sustaining Engineering

Professional Services

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Software as a Service (SaaS) has led to the process of gradual transformation of client enabling engineering services from traditional software engineering to product engineering. Product engineering takes care of the entire product life cycle from the innovation phase, starting from the idea being conceived to the deployment and user acceptance testing phase.

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Any firm can benefit from the services of information technology industry, since it can considerably better its performance. On the other side, designing a fantastic software solution that is both economical and time-effective might be difficult. Utilizing phases of the product engineering process, product engineering services aid such organizations. The phases begin with the creation of a software product development plan. When creating anything new, there are generally higher dangers. As a result, employing a product engineering service provider could be extremely beneficial for such companies. It is capable of helping by collecting information on functionalities of future product and thus assessing the viability of the idea. This factor is anticipated to boost the global product engineering services market in the near future.

Software is now an indispensable component of every corporate development strategy, and it plays a critical role in return on investment spending. As a result, improved software testing techniques can help firms reach their goals in the lowest amount of time whilst also delivering a high-quality end product. With product engineering services, businesses can be certain that their product has been thoroughly evaluated and tested to provide the highest possible quality and the greatest possible user experience. A firm can concentrate on marketing strategies, achieving goals, and, overall, successfully implementing the business plan by outsourcing the product development process to product engineering services.
Get a glimpse of the in-depth analysis through our Report Brochure Rising Demand for Reduced TTM to Drive Growth of the Market
The time taken for a product to get from the idea to market for sale is referred to as time to market (TTM). TTM is critical for businesses that need to release goods fast. Organizations utilize the product engineering services to save money, reduce utilization of resources, and deliver products on time. In addition, firms employ techniques like project risk management and Six Sigma to boost productivity. These factors are likely to augur well for the global product engineering services market in the years to come.

TTM is a performance indicator for increasing corporate efficiency. By offering things faster than their competitors, businesses may get significant branding benefits. Product engineering services are being used by businesses to reduce development time and time to market. During the development of a product, software product development firms confront problems such as a limited staff and regulatory concerns. As a result, product engineering services market players are providing services as well as solutions to assist software vendors and other clients in maintaining compliance, product requirements, and service quality whilst lowering TTM.
For List of Key Players and Full Segmentation, Ask for a Sample Report

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Increasing Demand from Various End Use Industries to Drive Product Engineering Services Market

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As a result, employing a product engineering service provider could be extremely beneficial for such companies. It is capable of helping by collecting information on functionalities of future product and thus assessing the viability of the idea. This factor is anticipated to boost the global product engineering services market in the near future.