CEO & Co-Founder, Recrosoft Technologies Pvt. Ltd
Please introduce your company and give a brief about your role within the company.
Recro.io has been operating for more than 4 years now and has a good number of start-ups as its clients. In our first project we integrated with the stock exchanges in India and brought real-time stock newsfeed on mobile and at that time we were the only company doing this kind of project. We have built market places, aggregators, lending platforms. We have been pretty much active in building platforms, insurance comparison websites, and on-demand applications.
I am the CEO and Co-Founder of Recrosoft Technologies.
What was the idea behind starting this organization?
The main motive behind starting this organization was building a place where culture defines your strategy. I wanted to create a workplace where people can work on their own terms and finally deliver the work. I found a big gap working in the industry that needs to cater to SME and start-ups. In the past four years, the concept of start-ups has come up globally but there needs to be a standardization of services so that value is generated for the clients. This can be bought by imbibing industry practices like Agile, Lean, and Design thinking. This market has a huge potential and being in India we have a cost advantage attached to our benefit. If we follow the right practices and replicate the model of enterprise then we have huge potential to grow in this industry.
What is your company’s business model–in-house team or third party vendors / outsourcing?
We do not outsource any of our work. The reason being anything outsourced becomes very difficult to get delivered on time. So we have end to end capabilities starting from design phase till the deployment phase. As we are majorly working with start-ups and not enterprises, so it is very important to understand that it’s not just about SDLC. When you are working with start-ups there is a high possibility of 9 out of 10 start-ups failing so we also take into consideration the growth hacking aspect of it.
How is your business model beneficial from a value addition perspective to the clients compared to other companies' models?
We provide consultation in developing their product. The reason that we are able to do this is, we ourselves have developed a product and have gone through product life cycle. So we understand how to build a product. We don’t want to be just an app design shop but we also want to provide end to end services. So through consultation, we try to differentiate and provide value addition through our services. Based on our experience in this market, we try to make the clients understand the feasibility of the idea. We try to evaluate and analyze the differentiator in their product and try to make them aware as a lot of clients don’t know the complete tech scenario and how things are functioning globally. So, definitely through our consultative approach we try to differentiate ourselves and try to bring in the product experience and our learnings into this.
What are the industries that you cater to? What ratios of clients have been repetitive?
We are currently focusing more on projects from Fintech and on-demand applications but are sector agnostic. If we consider all the projects going on with us currently, we have 100% support from clients, none of them have discontinued their project with us. If we look at the references coming from our clients then we have 85-90% customers approaching to work with us through a reference.
Mention the objectives or the parameters critical in determining the time frame of developing an app.
The time frame depends majorly on the domain knowledge, the technical architecture, security, scalability, and complexity of the project.
How much effort in terms of time goes into developing the front end and back end of an application?
We follow Agile methodology so we have to run all the functions parallel to each other as we have to perform a tangible demo after every 2 weeks. So in our organization, we strictly follow Agile methodology wherein front end and backend cannot be isolated and needs to be worked on simultaneously.
What are the key parameters to be considered before selecting the right platform for an application?
Key parameters which need be considered for selecting a right platform could be complexity, what kind of operation it would be, security and scalability. All these factors contribute to select an appropriate tech stack for an application. We have competencies in MEAN/MERN and JAVA Stack.
Do you have any suggestions for your clients for selecting a right platform for application?
Yes, we do follow this practice and our consultation model is based on this principle. We dedicate 30-40% time in the consultation which is very important because the blue printing of clients’ need is done on that basis. There are many clients who do not have technical knowledge so it is our responsibility to make them understand important tech scenarios – latest integrations, where to integrate with third parties, where to cut down on the development cost and help them take BUILD vs BUY decisions. We also have to understand their domain since often this knowledge resides with the client. So, it is a two-way relationship where you have to interact with them and understand all the minute details of the project to be on the same page as they are. With this process, we have 80-85% of our clients going with our suggestions.
Native or Hybrid – Which platform would you suggest to build an application on?
We work on both Native and Hybrid platforms. It depends on the requirements of the project that which platform would be more efficient; native or hybrid. Native platform is more useful in case of real-time applications where UX is of major importance whereas Hybrid platform works better in case of enterprise applications for which functionality is of core importance.
What are the key factors that you consider before deciding the cost of an application?
The cost of an application depends on the amount of resources deployed during the project, the time consumed to build the application and the complexity of the project.
What kind of payment structure do you follow to bill your clients?
We follow three models for payment; one is a fixed cost model where we have a fixed timeline and the execution of the project is expected to complete within a certain cost. This works well when the client is sure of their requirements and gets the application developed accordingly. Second is T & M model which we use when client’s requirements are changing frequently and we charge them on a per hour basis. Then we also have cluster model in which we assign a dedicated team to a specific project. The whole team works only on that particular project and reports to the client directly.
Do you take in projects which meet your basic budget requirement?
Generally, we do not limit ourselves to work on a project based on the budget and focus more on the company and the project. However, our recent projects have been around US$40000.
What is the price range (min and max) of the projects that you catered to in 2015?
Minimum was around US$25,000 and maximum was around US$80,000.
Which business model do you suggest to generate revenue from mobile applications? Why?
I would suggest them to go for an in-app purchase or subscription based model where the client needs to adopt a freemium strategy and over the freemium they can charge for some high-end features that the application provides.