VIT

At VIT, we have always believed in building and nurturing in-house expertise and leveraging this expertise for realizing the objectives of the company. From providing Graphics filters for leading Graphics Illlustration software company to building proprietary solutions in Artificial Intelligence & Machine Learning, this is the model that we have successfully replicated.

We always endeavoured to be the one-stop solution provider for our Customers for all their Software services & solutions need. Whether we are providing the traditional Offshore Development Services or turnkey software development to our Customers, we always believe in taking the extra mile to beat Customer expectations. That said, I don’t really want to sound cliché differentiating on the business model front, execution has always been our strength and I am sure our Customers can vouch for that.

We generally cater to Graphics, FMCG, Automobile, Aviation, Collaborative & Content Management Companies, Investment Banking and Fin Tech industries. In general, 65% of our revenues YoY are from repeat customers. We still retain majority of the Customers who have been Customers since more than a decade.

This depends on multiple parameters: most of our new Customers are referrals from our existing Customers, so they already have a level of confidence in our delivery capabilities. With such Customers, depending on the level of direct engagement i.e. if they have a technical team on their end that will actively engage the team from VIT in day-to-day project execution, we propose them an ODC model. Otherwise, if the Customer wants VIT to manage the execution completely and give them an End-to-End solution, we work with them on a Turnkey Software Development model. Recently we are also providing Digital services using our AI & ML solutions that we built internally.

We always prefer agile model. This generally fits well into Customer’s product road map and maintains an implicit control on the Project costs for the Customer.

We need to have a good understanding of the problems that the product is attempting to solve. Equally important is to understand how the end users are going to interact with the product and what it takes to gain their acceptance. Other factors that need due consideration are time to market and the targeted load / volume of transactions for the product.

Software is very much prone to change of requirements and even otherwise is subject to frequent outruns. The first factor that affects the billing rate is who bears the risk of such outruns. In case of ODC model, this risk is taken by the Customer, hence the rates will be mostly in line with the standard rates that we offer for the resources with specific skill set. However, in case of Turnkey Software Development, the risk of outruns and the responsibility to minimize them is on us, hence the billing rates are higher to that extent to adjust for the cost of this additional risk.

For ODC customers, we will bill them on T&M model in a monthly billing cycle. For turnkey software development, we bill them on a milestone basis.

For our existing Customers we do not have any basic budget requirements as we believe in being One Stop service provider for our customers. For new Customers we have taken up projects as small as an overall cost of $25 K.

We have worked on projects ranging from $25K to $1 Million.