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Benefit of MVP Development and list of Top MVP Software Development Companies

Minimum Viable Products assist entrepreneurs in validating their market breakthrough ideas. MVP is a product that assists in this research and ensures the entrepreneur does not make a mistake by deploying its business idea in the wrong market.

 

An MVP is a base product with all essential features required to perform the primary function(s). This type of product is used to validate the consumer demand in a market and collect consumer feedback for further improvement.

 

MVP especially assists in testing the business potential of service and a product in a specific given market.

 

If you still want to develop yourself with the help of an MVP, or just wanted to know the procedure, then the following are the steps that will help you:

 

  • Although your first version may not be enough to validate the idea, if it shows potential, you can always add or remove features, do customization, and relaunch.
  • Although the purpose of an MVP is to validate the market, it should first be made to fit and match the market preferences. You can study the market needs for related products like yours and conduct surveys and interviews.
  • Map out and design the User Flow to create a fixed path to perform the primary function. This can be changed later as per the user feedback.
  • Ideate the complete MVP to add more value. You need to think and be precise about the value that you want your product to provide to consumers. This will help you shape a more realistic version of your MVP.
  • Select features for your MVP and begin with the development. Lastly, you’d want to assure each feature functions properly before you release the MVP for market validation.

 

 

The benefit of MVP Software Development

 

Below are some benefits of using MVP Software Development that will help you understand why launching an MVP can be beneficial for your firm:

 

Tests Viability

 

Several companies fail to establish a strong foothold in a new market due to poor market validation. They do release the product and get a decent amount of sales in the beginning, but in the long run, the product fails due to poor viability. Releasing an MVP first, on the other hand, not only assists in validating market demand but also vaguely indicates how the product will perform in the long run. 

 

Helps in Securing Funding

 

MVP is an essential part of a proof of concept, which is often required in various funding programs. This means that having an MVP alone makes you eligible for several funding options. Even when MVP is not a requirement for the funding, developing one can assist you to leave a positive impression on investors and depict your dedication, thus, resulting in higher chances of success. 

 

Minimizes Risk

 

Suppose if your product or business idea fails, then with an MVP, you won’t be incurring huge losses. This is because of the low development cost of an MVP. On the flip side, rushing to market launch with the final product may result in heavy losses in case the product fails. 

 

Cost efficiency

 

As an MVP consists of only the bare minimum features required to make the product functional, it is a lot cheaper to build. Based on the cost of MVP development, businesses can also evaluate the cost of final production and formulate cost-reduction strategies to maximize their profit margins. 

 

Brings Agility

 

MVP is based on the real market conditions, consumer behavior, and industry dynamics. Thus, when observed for the long term, MVP can help you identify and predict the ongoing and upcoming market trends. Based on the collected information, you can make your product market and future-ready.

 

Accelerates Development

 

The market validation of a product via an MVP pinpoints the essential features required to earn a profit. This reduces the back and forth that usually happens in finalizing the features and specifications. Another way MVP accelerates the overall development is by identifying the key development problems beforehand. 

 

Final thoughts

 

MVP development provides numerous privileges to your business both in the long and short term. It enables you to recognize your unique value proposition, lessen the cost of custom software development, and get the required funding. The feedback from the early adopter further assists in improving the product and enhancing the overall quality. 

 

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The List of Top MVP Development Companies

 

FATbit Technologies

 

FATbit is a leading MVP Software development company, with a wide range of MVPs to help businesses. It takes pride in delivering high-quality and well-designed minimum viable products (MVPs) as well as software solutions with extensive customizations and integrations.

 

With FATbit MVPs, you can launch and validate businesses like rental and selling marketplaces, online tutoring, grocery delivery, and gigs marketplaces. 

 

FATbit also provides CMS development, Agile development, Mobile development, Business consulting services, and eCommerce development. 

 

Country: India

Established In: 2004

Top Clients: Uni-Diamonds, Superlivery, Gearflow

Hourly Rate: $$

Website: https://www.fatbit.com/ 

 

Digiteum

 

Digiteum is an MVP development agency. It offers web, mobile, and IoT development. Additionally, they implement AI and chatbots into their software solutions. They implement a broad tech stack into their projects. The company offers time-bound project completion with an early start and quick responses to any changes that may be required. The company caters to clients from all over the world.

 

Country: India

Established in: 2010

Top Clients: Printique, Oxford, Oracle, Dona

Hourly Rate: $$

Website: https://www.digiteum.com/ 

 

Net Solutions

 

Net solutions offer bespoke products and platforms engineered to provide a better user experience. The MVP development company looks to enhance the customer base for their client through a better customer experience of its products. It uses around 30 technology products and offers services. The company created the first of its kind mobile monitoring platform that provides 3600 of the entire organization. It uses an agile methodology to produce applications for the web and mobile.

 

Country: India

Established in: 2000

Top Clients: Pageant Planet, EdPlace

Hourly Rate: $$

Website: https://www.netsolutions.com/  

 

Ample work

 

Ample work provides MVP solutions for mobiles, Web, VR, IoT, and wearables. Ample work is one of two companies on this list that has worked with clients from the education sector. The company focuses on delivering products keeping in context the human element. Apart from that, the company emphasizes the quality and performance of its products. It documents the code delivered to you. It also offers continuous product development and maintenance services.

 

Country: India

Established in: 2016

Top Clients: Soflete, TalkRemit, Relief 

Hourly Rate: $$

Website: https://www.amplework.com/ 

 

Intelivita

 

Having a global experience, Intelivita offers mobile app development, MVP development, AR and VR services. The company focuses on delivering a custom product based on the client’s needs. They implement a stepwise approach to their services, implementing AR and VR for a futuristic and aesthetically pleasing user experience.

 

Country: India

Established in: 2015

Top Clients: MowMow, AwayBack, Art of Work

Hourly Rate: $$

Website: https://www.intelivita.com/ 

 

As per our analysis, we found the above-mentioned top companies for MVP software development in 2021. To select the best one amongst them, you can share your requirements with the companies above and discuss your project in detail. Lastly, pay equal attention to the customer support these companies provide post product launch.

 

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