Companies thus often outsource product design and development to engineering houses filled with Chinese engineers trained overseas.
Open platform strategies may mean that banks can essentially outsource product development to fintech firms.26This could be a boon particularly for small community banks that would not have to worry about developing the best consumer interface, mobile app, digital wallet, or lending product.
"Firms can essentially outsource product development," says Norton.
When startups ask me whether they should outsource product development, I usually advise against it.
This is a possible model for other Legal Advocacy – Outsourcing products & services.
Unlike software services, where companies such as TCS, Infosys have much longer runways before they are disrupted (because customers still depend on low cost outsourcing), products are a different ball game.
Grid computing is the logical next step on the road of the IT market to ubiquitous connectivity, virtualization, service outsourcing, product commoditization, and globalization.
For AT&T, that is a step toward outsourcing product innovation, an activity it has historically undertaken itself, either with in-house engineers or by putting out contracts with design requirements.
Plexus, based in Neenah, Wisc., outsources product development and design for networking, industrial and government companies.
