{"id":5679,"date":"2020-01-31T12:00:00","date_gmt":"2020-01-31T12:00:00","guid":{"rendered":"https:\/\/codeandpepper.com\/?p=5679"},"modified":"2022-02-09T15:30:15","modified_gmt":"2022-02-09T15:30:15","slug":"reliability-choosing-technology-partner","status":"publish","type":"post","link":"https:\/\/codeandpepper.com\/reliability-choosing-technology-partner\/","title":{"rendered":"Bet on Reliability: Choosing a Technology Partner"},"content":{"rendered":"\n

The need for striking thriving partnerships might be yesterday\u2019s news in the world of financial technology. Yet, as the available cooperation models are continuously evolving to offer more tailored options, the final decision might pose a challenge. Potential savings in time and costs have to be carefully weighed against risks connected with the required credit of trust: a value of paramount importance, notably in FinTech applications. If reliability is an essential aspect of all collaborative efforts, is there a key to handling it the right way?<\/strong><\/p>\n\n\n\n\n\n\n\n

Why question reliability in business partnership?<\/strong><\/h2>\n\n\n\n

Augmenting your developme<\/a>n<\/a>t team<\/a> remains one of the most convenient solutions in case of product refactoring, software emergency or short-term mobilization when launching premium features or exclusive ads-on. However, finding the right technology partner to ensure timely delivery and uncompromised quality isn\u2019t always smooth sailing. The final selection requires in-depth research and complex analysis. To make this task more manageable, well-defined selection criteria<\/strong> should serve as guiding posts underlying all stages of the process.<\/p>\n\n\n\n

With no guarantee that the final choice hits the mark, fine-tuning your vision can be the key to offering the best ROI and competitive advantage.<\/p><\/blockquote><\/figure>\n\n\n\n

Trust being a priority, the question of reliability seems to come to the forefront of all search and compare activities, while keeping in sync with the best practices in risk management. Team augmentation<\/a> gives leverage only if the staff supplied by the new partner perform as required. Making sure that they do can make all the difference in the long run and takes much more than wishful thinking.<\/p>\n\n\n\n

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Reliability offers an alternative to an ‘educated guess’ and serves as a measure of consistency.<\/p>\n<\/div><\/div>\n\n\n\n

In the modern FinTech environment, strategic decisions are made by teams rather than individuals. A reliability-first approach provides a data-led common ground<\/strong> and a measurable point of reference<\/strong>. This inevitably improves chances for an unbiased and successful selection.<\/p>\n\n\n\n

Basic steps to mitigate risk<\/strong><\/h2>\n\n\n\n

Create a shortlist<\/strong><\/h3>\n\n\n\n

Keeping reliability in check usually starts with the customary due diligence. Search and compare efforts should result in a list of potential partners with verified legal standing<\/strong>, industry match<\/strong> and readily available references<\/strong> (e.g. Clutch<\/a>). To further narrow down the list, you can look for a proven track record<\/a> and analyse past successes and failures. Note that availability of such information might be a selection criterion in its own right.<\/p>\n\n\n\n

Name your game<\/strong><\/h3>\n\n\n\n

Once that first step is complete, you can target the fulfillment of essential contractual conditions<\/strong>. Those may vary depending on the company policy and project scope. They usually cover such matters as: e.g. facilities, equipment, technology stack<\/a>, staff competences, additional licenses, reporting, intellectual property, warranty period, etc. Watch out for what-you-see-is-what-you-get attitude. A serious provider should be able to adapt to your specific needs and allow for a buffer period to solve potential issues.<\/p>\n\n\n\n

Get your money\u2019s worth<\/strong><\/h3>\n\n\n\n

When interacting with potential partners, check for focus on customer service experience<\/a>. The quality of communication<\/strong> offered at the stage of prospecting can be a good indicator of what you can expect further down the line. Look for: active listening, willingness to negotiate and compromise, ability to openly discuss risks and provide constructive criticism. They are solid predictors of communication aptitude and adaptability of the organization.<\/p>\n\n\n\n

Ultimate trust challenge<\/strong><\/h2>\n\n\n\n

Making sure your newly augmented team does not go back on its word can feel like climbing the walls. Surprisingly enough, it\u2019s not always the questions of technical competences or relevant experience. Compatibility in terms of work culture<\/strong> might turn out to be a deal-breaker, despite an impressive track record and a top-notch portfolio suggesting otherwise.<\/p>\n\n\n\n

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Watch out for:<\/strong><\/h3>\n\n\n\n