Please introduce your company and give a brief about your role within the company?
Goldenmace IT Solutions is a solutions engineering company focused on the development of custom web and mobile apps, IoT, voice assistants, Smartwatch apps, and AI/ML. Our in house team of designers and developers have curated products for more than 13 countries worldwide, mastering the art of technology.
I am the Co-founder and CEO of the company. My love for analytical thinking and the independence that comes from solving a problem made me quit my job at one of the most successful software companies in the world and start my firm Goldenmace IT Solutions – a solutions engineering company.
What was the idea behind starting this organization?
I love analyzing and curating solutions for problems about businesses. From making an accounting software with one teammate to expanding my team to a 50 member organization, I've strengthened the idea of solutions engineering with a full-on focus on adding value to our customers.
What are your company’s business model–in house team or third party vendors/ outsourcing?
We have a complete in house team; we never outsource our work, in fact, we are strategic partners to many other tech agencies wherein we take on the work they outsource. We provide dedicated to teams to our customers for long term assignments.
How is your business model beneficial from a value addition perspective to the clients compared to other companies' models?
Our business model is simple, we follow the flywheel, to get more customers by providing them a very cost-effective pricing and top quality product, regardless of the budget. Our in house training programs have enabled our developers and designers to work smartly and efficiently. We pass on this value to our customers by offering them quite a reasonable pricing and take on long term work from key accounts.
What industries do you generally cater to? Are your customers repetitive? If yes, what ratio of clients has been repetitive to you?
Yes, more than 50% of our clientele gives us repetitive business. We are sector agnostic, if the client is from a fashion or finance, from diamond companies to government organizations we cater to everyone. We are really strong in apps for IoT. We specifically look for assignments which are challenging and add real value to customers’ business processes.
Mention the objectives or the parameters critical in determining the time frame of developing a mobile app.
In the software industry, it is often said that ―Software is always late‖ which is somewhat true for several reasons. At Goldenmace IT Solutions, while defining a time frame one of the most critical factor for us is the purpose and functionality of the app. Few of the elements that I think directly affect time frame are Objective of App, Platform used, Skills required, and Technology Stack.
How much effort in terms of time goes into developing the front end and back end of a mobile app?
Good amount of front end effort is spent in designing where all the UI/UX of the app is designed. It’s a creative process characterized by heavy brainstorming sessions and iterations. Once the design is finalized the job of the developers becomes easier. Usually, a standard app can be delivered in 3-4 months, whereas a complex app can take up to 12 months or more. For example, we have developed an end to end Smart Home Automation solution which took us good 14 months and then the feature addition and upgrades continues.
What are the key parameters to be considered before selecting the right platform for a mobile application?
In this modern development landscape with so many options floating around, selecting the right platform is the most important decision for a project. Key parameters we focus on while selecting app platform are like Performance requirement, Budget, and App Objective, Target audience. Eventually, the decision to choose a platform is based on goals and priority of the organization.
Which platform do you suggest your clients to begin with when they approach you with an idea (Android or iOS) and why?
Mostly we suggest our customers start with Android platform first as the user base of Android is broad. If the customer has a very specific requirement where the majority of the target audience is iPhone users, then starting with iOS makes sense. For example, we created an iOS app instead of Android for one of our European clients which targeted mostly high-end health and gym enthusiasts.
Android or iOS, Native or Hybrid — which platform is best to use to build your app? What are your recommendations?
We are a big fan of native Android and iOS platforms, specifically, because we are known for cost-effectively developing some really challenging apps. Our prominent apps are in the IoT domain which demands high performance and requires us to play around with most native functions of the OS. We have mostly been approached by clients with unique apps requirements like Home Automation, Live camera streaming and video conferencing, Real-time location tracking, Augmented reality. Hence being true to the objective of such apps, we mostly favor Native Apps.
What are the key factors that you consider before deciding the cost of a mobile application?
We simply consider two important factors while deciding the cost which is Level of skillset required for development and estimated person-hours. Both of these factors are directly proportional to the cost of development.
What kind of payment structure do you follow to bill your clients? Is it Pay per Feature, Fixed Cost, Pay per Milestone (could be in phases, months, versions etc.)
Our models of engagement are based on Time and material, Monthly retainer if features are not fixed, and pay per features only for small ticket sizes.
Do you take in projects which meet your basic budget requirement? If yes, what is the minimum requirement? If no, on what minimum budget you have worked for?
It's more about the type of projects we want to do and not the budget, sometimes we work on projects which look interesting, and we want to add to our portfolio. We seek challenging projects which pushes us to come up with unconventional solutions.
What is the price range (min and max) of the projects that you catered to in 2018?
We cater to projects ranging from $5000 to $70000.
Which business model do you suggest to your clients enabling them to generate revenue from mobile applications? Why?
Not every business wants to generate revenue from apps. But for those who want to earn I think the freemium model works wonders and also a good content strategy can help you ascertain good commercial value. Apart from that if the service offered by the app is solid, then subscription also works great.