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Smart action to overcome COVID-19 impact – Product quality and building strategic partnership

Smart action to overcome COVID-19 impact – Product quality and building strategic partnership

10th Jul, 2020

This blog is a first of the series on ‘Smart action to overcome COVID-19’, where I discuss probable means to overcome the pandemic’s business impact.

 

The first action is product quality

 

Maintaining product quality is a pain for software providers and end-users alike. A quality product can minimize implementation time, save cost, and improve end-user satisfaction.

 

Leaning on my 30 plus years of I.T. and banking experience, I firmly believe that an enterprise with the right expertise and focus can bridge the quality gap. Thus, allowing organizations that use enterprise applications to focus more on their core business.

 

To add value to their products and services, enterprises can use the software quality assurance services offered by providers such as Testhouse. Testhouse has a unique repository of rich testing expertise augmented by two decades of experience. Personally, this is the reason why I decided to focus and invest further in the quality assurance space.

 

The second action is building a strategic partnership

 

The future of financial innovation is likely to involve tactical partnerships. Fast-growing companies with new wave fintech could make excellent partners for traditional banks that seek to enhance customer experience while optimizing costs by outsourcing non-core functions. Software manufacturers and end-users alike should leverage next-gen technology to benefit each other mutually or will be left out of the race.

 

Closing remarks

 

Banks in specific prefer to maintain robust product quality and it is essential for them to secure a strategic partnership with quality assurance service providers like Testhouse. Banks and quality conscious organizations should utilize services such as application testing, performance testing, security testing, integration testing, and migration testing to add significant value to their products. Through strategic partnerships, banks and financial institutions can focus on their core business while leaving other streams of operation to industry experts who can offer affordable services in a shorter time.

 

Next week, I will cover couple more actions that could help you overcome the impact of COVID on business.

About the author

Jacob Zachariah Karuvelil | Partner

Jacob is a visionary business leader with over three decades of experience in driving significant growth within the technology sector of global financial institutions.