Fixed Cost Model
Time & Material Model
Hourly Basis
Dedicated Team Model
Engagement Model
At TekMedia we understand the importance of a transparent software development agreement. Collaborative communication is the key to a successful software development partnership
Hence, we offer various engagement models, and they are customizable to cater the diverse project requirements and preferences of customers. Regardless of the engagement model chosen, we deliver outstanding software/product services and solutions with customer’s business growth and quality as our priority.
Fixed Cost Model
A fixed cost pricing model sets a fixed price for a product or service, regardless of the production or operational costs associated with it. This model offers stability and simplicity in highly competitive markets, promoting price transparency and customer trust, but may lack flexibility in response to market changes.
Advantages
- Well defined project requirements or scope
- Small to Medium-sized Projects
- Reduced financial risk
- Little to no management
Time & Material Model
The most significant advantages of the T&M Model are the flexibility it provides in terms of project specification evolution according to changing markets, technology trends, or business priorities.
We provide required resources for pre-determined skill sets and a time-based billing rate for each resource type is exercised accordingly. This model enables stringent project and time management, along with tracking and reporting practices. This provides enhanced value for the time and resources invested.
Advantages
- Continuous Product Evolution Programming
- Complex Large-Scale Projects
- Research and Consulting Assignments
- Support & Maintenance Contracts
Hourly Basis
Clients are billed based on the number of hours worked. This model provides flexibility for short-term or specific tasks. Without any time bound this model is adaptive to new solutions during development stages.
Advantages
- Monitor progress closely.
- Allows for adjustments as the project progresses.
- You only pay for the actual work done.
- Limits the cost to Hire
- Full Control and Flexibility
- Scalability of Resources
- In-depth Project Involvement
- Team Stability for long-term Collaboration
Dedicated Team Model
A dedicated team is a good fit when a client has a long-term project but lacks an in-house team to implement it. It is also suitable when the skills of the in-house team are insufficient for a certain task or project.
At TekMedia you can entrust product development to tech experts who know how to bring an idea to life in the best way possible.
