Please introduce your company and give a brief about your role within the company?
Fayrix provides world-class software development and Big Data services. Fayrix's headquarters is located in HerzliyaPitu'akh, Israel with 10 R&D centers in Eastern Europe. This distributed geography allows us to employ the best talent from all over the world. Fayrix Big Data team unites highly-motivated and professional data scientist, who were awarded Kaggle Master and Grandmaster titles (only 108 people on the planet hold this title).
What was the idea behind starting this organization?
There is a huge shortage of IT talents in the world’s most technologically advanced countries and there are countries, where the educational system is tailored to nurture great mathematical competences, crucial for IT jobs. So we started Fayrix with the idea to bridge this gap and make the top-quality custom software development services available worldwide and affordable for businesses of any sizes.
What are your company’s business model–in house team or third party vendors/ outsourcing?
Fayrix started its IT business back in 2005, having accumulated one of the largest IT human resource capital in Eastern Europe. We employ over 1500 full-time software developers and data scientists. We have an extraordinary Big Data team. It unites highly-motivated and professional data scientist awarded Kaggle Master and Grandmaster titles (only 108 people on the planet hold this title).
How is your business model beneficial from a value-added perspective to the clients compared to other companies' models?
Because we are 100% online in terms of sales and marketing, Fayrix does not have high travel, representative or rental costs. This saves our budgets, making Fayrix the most innovative and digitally-advanced project and, what’s more important, lets us offer the most competitive rates, preserving the highest level of services provided. At the same time, cooperating with Fayrix does not incur the same risks as working with a freelancer. All our processes are well-established, developers are properly-managed, motivated, comfortable with their colleagues and friends in the office every day.
What industries do you generally cater to? Are your customers repetitive? If yes, what ratio of clients has been repetitive to you?
Fayrix target industries include mass-market startups, public sector, healthcare, transportation, education, energy, telecom, finance, media, FMCG.
Mention the objectives or the parameters critical in determining the time frame of developing a mobile app.
The main parameters defining a mobile app development terms and duration are the app business purpose and its functionality. The more features the app is supposed to have, the longer the development process will take. The same about the supported platforms. The more client needs, the longer it may take. What is also important is a clearly defined project spec or functional requirements. In order to properly understand and determine the time frame of the development process, we provide our clients with a structured requirements collection template. It helps our clients describe all desired product features in standardized and easily understandable format. By the way, in order to make the most of the project budget, we typically recommend our clients to use the lean startup methodology. This means that the development goes step by step with quick testing the most important product hypotheses without heavy investments.
How much effort in terms of time goes into developing the front end and back end of a mobile app?
Each application is unique. Both the front-end and the back-end development duration depends on exact application requirement and planned features.
What are the key parameters to be considered before selecting the right platform for a mobile application?
The main parameter to consider before selecting the right mobile platform is the product target audience. If you know who you target, you will easily understand what platform to start with.
Which platform do you suggest your clients to begin with when they approach you with an idea (Android or iOS) and why?
The purpose of a mobile application defines the priority platform for development. If expeditious monetization is necessary, we recommend to begin with iOS. In case the broad coverage of audience is the main aim, we recommend to start with Android.
Android or iOS, Native or Hybrid — which platform is best to use to build your app? What are your recommendations?
We develop on various platforms. The best option is developing native apps, of course, for example, Swift/Objective-C for iOS and Java/Kotlin for Android. However, we sometimes develop hybrid apps in order to make it faster and cheaper. In this case, we can use React Native or some other hybrid technologies. Furthermore, we at Fayrix has a proprietary Mobile Service Platform (MSP), which is basically a constructor for quick mobile and web apps production.
What are the key factors that you consider before deciding the cost of a mobile application?
We consider a lot of various factors in estimating the project. They not only include the complexity of features to be developed, but also market potential, risks involved and others. We typically break the whole project down to separate features and estimate them, taking into account analytics, development, QA, project management and even DevOps involved.
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.)
All of these payment structures are acceptable for us. We offer different cooperation models to our clients such as Fixed-price projects, Time & Materials with per hour billing and Dedicated project teams with monthly FTE billing.
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?
Yes. Our minimum budget requirement is $5000. We even work with startups with close to zero budget. If we feel that the project is very promising (we have a bunch of venture analysts over here), we are ready to support it with our technology resources at no charge for further revenue share relationships.
What is the price range (min and max) of the projects that you catered to in 2017?
Minimum was $12000 and the maximum was $250000.
Which business model do you suggest to your clients enabling them to generate revenue from mobile applications? Why?
It fully depends on the project. If the project implies maximum audience coverage, the advertising model is acceptable. E-commerce apps, such as an online retail store, should be free, of course. They generate money selling goods, not apps. For niche utility products we would recommend a premium model. In other cases, freemium is the optimal choice.
