Engagement Model
Genfotech pricing model strikes the right balance between the customer’s expectations of quality, timeliness and price, and our costs and operational efficiency. Every business has unique needs and we offer pricing models that fits your requirements.
There has to be a decision framework, to help both the service provider and the customer, to assess and finally decide on the best suitable pricing model. This is based on various parameters, like engagement / service types, working experience, duration / relationship of engagement, goals of the engagement at hand.
Time & Material
The T&M model works best for customers who want a flexible and agile project execution. Here they play a greater role in the development of the software product or solution. In this model we assign a team to the customer and the actual time spent by the team on the project is billed. Monthly invoicing is pro-rata, based on the total hours spent on the project and the rates for the skill sets involved.
how it works
Tell us Your Requirements
We will assign people with a wide range of skill sets to work on the project
You Get Daily Updates and Detailed Timesheets
You pay on Pro-rata basis based on actual hours used
Here is when you should choose this type of contract:
- Requirements are evolving.
- Work involves new technologies or processes.
- You need to keep pushing changes live regularly.
- You have proprietary code that is causing issues or, needs new features.
Why Us?
We offer flexible Resource Pooling arrangement to provide highest utilization across multiple technologies and services. Our competition aims to match a skill with a individual which is problematic in scenario where multiple skillsets are required to complete the job. Our flexible Resource Pooling model is different: it matches the skill set with the team and not individuals, and it provides the options to ramp up and down the team size based on projected need. This provides the best overall utilization of the pool by increasing efficiencies and providing the option to tailor the team to your need. As the need changes the pool adapts itself to the needs maintaining the highest level of utilization.
Fixed Cost Model
The fixed price model is ideal for small and medium level projects with clear and well-defined requirements. In this model, the service provider and the customer both carry some scope-related risk. But, as per the agreed contract, any change in the scope would result in a change in the price. Fixed price models allow customers to pay a fixed price for a project that is agreed upon by both the parties. The fixed price could be split and paid on milestones. This model works where the scope and specifications of the project are crystal clear from the very beginning and system requirements have been defined clearly. In this model, it is very important to discuss everything and make an estimation of the appropriate cost of the project at the very beginning.
how it works
Tell us What You Need
We Tell you the Budget, Schedule and Payment Milestonesspan
Our Team Goes to Work and Give Weekly Updates
You Accept The Deliverables
Project is Closed and Team is Reassigned
Here is when you should choose fixed price contracts:
- Requirements, Deliverables and Acceptance criteria are be clearly defined.
- The business logic is straightforward.
- You don't foresee requirements to change much once the project is started.
- You want us to handle the entire cycle of work from gathering requirements to final delivery.
Why Us?
We offer our clients an option to choose on whether they want to pay based on actual effort spent on fixed cost contract. So, you have all the benefits that a fixed price contract offers but, an added benefit that if we deliver project quickly or reuse components to save development effort then that benefit is passed directly to you. While our competition hides such information and potentially overcharge for things that are done quickly.
Dedicated Team
The dedicated team model works as a dedicated service provider for a period of time. This team acts as the virtual extension of the client's in-house development team. The customer takes the onus of getting work done effectively from the team. Advantages of this model include knowledge retention and the flexibility of utilizing the team for different requirements. Monthly bills are raised based on the number of resources dedicated every month.
how it works
Tell us Your Requirements
We Assemble Your Team
Your Team Starts Working for you
You Get Daily Updates and Detailed Timesheets
You Renew at the end of the Month
Here is when you should choose this type of contract:
- You Require consistent and ongoing efforts of dedicated staff.
- You want to close control how the work is executed, project information and knowledge.
- The work involves involve joint work and close coordination between you and our teams.
Why Us?
We offer our clients an option to choose on whether they want to renew contract at the end of 30 calendar days or at the completion of 160 hrs. It is better for those clients who want to retain knowledge and work with someone over long term but cannot guarantee that they have full 8 hrs of work everyday.
