A well-executed proof of concept requires careful planning and preparation as it is important to know whether or not a product is feasible for the market. With Proof of Concept or PoC, developers can easily avoid costly mistakes as it can help know the feasibility of an app idea. Verifying if an idea can be implemented and developed into an authentic product with this feature is easier.
The road to successfully launching a product in the market can be paved with PoC. Simply put, it is a software testing methodology that enables businesses to look at multiple factors while developing a software product. This initial check increases the chances of building a useful solution for potential customers.
What is Proof of Concept?
In software development, Proof of Concept or PoC is a process of creating documentation to test the feasibility of a software idea. It explains how a product or a service will perform in the market, what technologies it needs, and what the functionalities will be. Simply it is about documenting proof that the proposed software idea will work successfully in the market.
In this competitive IT market, it has become crucial for businesses to create Proof of Concept to define the final vision of the product. As it will involve all the stakeholders engaged with the product, they can discuss its risks, limitations, and opportunities. A PoC is an essential step to creating a solid ground for development, testing, and launch.
A Proof of Concept can be in the form of a document or a presentation. Therefore, no coding or design is required at this stage. However, the PoC is prepared with thorough documentation of all the technical requirements as well as the specification of the software idea. But with the advent of low-code or no-code development tools, the time for creating a PoC has been reduced to approximately 48-72 hours.
Often Proof of Concept and Minimum Viable Product (MVP) are confused with each other. But Proof of Concept is just documentation. On the other hand, a Minimum Viable Product is a workable product created with core features and functionalities of the end product.
And if you are new to software development, you may need clarification on an MVP, PoC, and a Prototype. Although all these terms are associated with the initial stages of software development, they still represent different meanings. Let us have a quick look at the differences between all these.
Proof of Concept Vs. Prototype Vs. Minimum Viable Product
Out of all these, only the MVP is a functional product. But the remaining two still affect the development. If you have an idea and want to test its feasibility and future scope with a minimum budget, then PoC is the right choice. It will help you determine whether you should implement the app idea in reality or not.
On the other hand, Prototyping is about visualizing the end product in the market. If you have a limited budget and resources, you can create a visual representation of the product to attract investors. Going from a POC through a prototype and MVP is also a great option if you have confirmed that the app idea is feasible in the market and can gain enough attraction from users.
Switching back to our main topic, let us see why creating a Proof of Concept is important in the software development process.
Importance of Proof of Concept for Businesses
Proof of Concept in software development is an essential factor in reducing the risks associated with the product and getting valuable feedback from clients at an early stage. Apart from this, there are some other benefits. Let us have a look at all the benefits:
Accelerated Product Launch
Suppose you have a successfully working Proof of Concept. In that case, you can create desired roadmap and actions for developing and launching your application in the market. Since a PoC can help you to determine that you have picked up the right workflow and made all the necessary to create a perfect product, you can accelerate the product launch phase. Moreover, you can also eliminate all the unwanted risks along the development process.
Reduced Risks and Problems
One major benefit of Proof of Concept is that it enables you to analyze and diagnose all the limitations associated with the idea at the earliest stage. This, in turn, helps you to have a better understanding of the project.
As discussed in the above point, PoC can also help minimize the risks even if you are following the development phase without creating a prototype. Also, it is easy to get customer feedback on an early version of the product.
Save Money and Time
The major goal of creating a Proof of Concept is to determine the final product’s functionality in the market to ensure that it has lower risks and chances of failure. So you can rest assured that your money and resources won’t go in vain. As the competition is high, no investor wants to finance an idea with no future. So with a PoC, you can provide your idea’s financial and future stability, which will eventually help attract potential customers.
Better Execution Plan
With PoC, you can also navigate the development plan better. You can ensure an optimized development workflow by having a clear knowledge of how to develop the product, what features to include, and how to various other factors.
Customizable and Cost Effective
POCs can be customized and are detail-oriented. Therefore, as new results are discovered or feedback is received from users, you might have to alter your goals, priorities, and budget to be successful. This allows a proof of concept environment to be cost-effective as it allows you to plan and validate technical assumptions and use cases before investing in any additional labor resources, materials, or expenses associated with the product.
Gives Clarity to Business Management
A POC will give details like timescales, features included, the intended customers for the product and the potential return on investment. Suppose the prototype is designed to automatize internal processes or create a well-validated customer-facing product. In that case, a POC will provide Business executives with all relevant data to make educated decisions on the need to fund a specific project.
The process must be followed for any digital product that requires validation, in particular when there is a possibility that the product could not meet the customer’s expectations or be expensive to put into place. With a proof of concept, you can avoid potential issues and ensure that your company has the greatest chance of success in the current competitive marketplace.
How we Scaled a PoC with Low Code Development for Our Clients?
There’s plenty of enthusiasm for Low-Code Application Development platforms. The promise of creating internal and external applications at lightning speed and achieving huge improvements in customer satisfaction and productivity is an attractive incentive.
Along with the excitement are noise, hype and extravagant assertions. How can you tell whether a vendor’s claims are correct and their solution will help you solve your problems? What can you prove to demonstrate your automation initiative’s business value and viability?
The best solution is a Proof of Concept.
In typical sales, companies present their best side and hide their weaknesses. However, using a POC lets you see the process of your business and its needs in a functional application. You can observe how quickly the vendor can install it and how it performs and how easy to modify it to the needs of your future.
Low-code tools can be an asset in the stages of proof-of-concept development. They can help simplify UX/UI problems to make your app run faster.
Let’s look at some of our case studies for a better understanding. It will help you to know how PoC and Low-code development go hand in hand.
CARS24 offers an online marketplace for used cars, headquartered in Gurugram, Haryana, India. CARS24 sells over 150,000 vehicles per year. It is one of the four largest companies in the second-hand car sector in India.
Our client started out working on C2C as well as C2B markets but soon realized that B2B was an essential part of the pie of used car sales. Developing and adopting new processes and methods in B2B was the most difficult task for the company. The implementation of a plan that was based on a spreadsheet was a distinct challenge.
The workflow was complex, with 14 steps to be coordinated by our customers and used car dealers.
This leading Auto-sales service approached Softude to help them choose the most suitable solution or platform to automate the negotiations with their second-hand vehicle suppliers. This was a dependent and human-driven process. In addition, they required an immediate and efficient solution that was cost-effective.
Within less than 48 hours, we developed a PoC for our customer, which assisted with understanding the final product will appear. They were amazed by the speed of turnaround and delivery of the services.
The solution eliminated the client’s dependence on humans-powered and dependent processes. The solution also eased the burden of routine tasks for the team that was already in place. Thus, the employees can concentrate on what they are good at.
For more information, click here.
Our client is an Excise Tax technology company based in the UAE. They have a group of tax professionals who know the complexities of dealing with tax-exempt products’ local laws and compliance under Federal Tax Authority guidelines.
Middle East-based companies need help with the timely filing of tax returns because of the slowness in consolidating goods for export and import, which are kept in multiple designated zones.
Penalties are increasing Increased Penalties Federal Tax Authorities are increasing their audits of Excise Customer businesses, which often result in huge fines. There is too much human involvement and the potential for errors, which results in large penalties.
Impact on the Business
• Massive loss in revenue due to Penalties
• Human resource costs are huge.
• Failure to report the correct open balance in inventories and resulting the loss in monetary terms
• No business insights
Within 21 days, we created a Proof of Concept with low code digital transformation and Robotic Process Automation (RPA). This helped our clients save time and cost, in addition to giving them the chance to grow their customer base.
• The client can simultaneously manage requests from a variety of its clients and also an increased amount of tax returns for excise processing.
• The process was streamlined to reduce human involvement. It made the calculation of tax on excise and tax filing 100 100% precise and FTA fully compliant.
For more information, click here.
The Key Takeaway
Overall, this project’s low-code software development tools adequately handled all development tasks. Armed with the knowledge of low-code/no-code development, we’re confident that these tools can be used in any field of business to make the whole process of development much less costly and time-consuming. Low-code development has proven its value in this PoC project.