The Benefits of Creating a PoC in software development
Let’s take a look at all of the advantages that a PoC can provide for businesses:
Benefits of Creating a Proof of Concept
Save time and money:
Developing a complete product without assessing its technical or commercial viability can incur higher costs than anticipated in the early stages of the project. Tens of thousands of dollars could be wasted on hiring, onboarding, and initial development, all for the purpose of discovering that your idea is too novel to be implemented with the tools at your disposal. You can proceed to the next stage without taking too many time or financial risks with a proof of concept.
Choose the right tech stack:
As you are already aware, the primary goal of a proof of concept is to demonstrate your idea’s viability from a technical point of view. You can also validate your technology stack. The development team will now determine which set of tools best suits your present requirements as well as your long-term goals.
Assess tech-related risks:
You can predict technological risks early in the development process when you’re building a proof of concept in the early phases of startup development. A QA engineer and a software architect can identify typical bottlenecks in a given technology and suggest preventative measures.
Fuel stakeholders’ confidence:
Even with the best of intentions, there’s always a chance that your startup will fail. Ignoring the discovery stage is a major contributing factor to startup failure. You reduce the possibility of developing the incorrect product by establishing a proof of concept and getting early feedback from focus groups before beginning work on your application. You also have one of the first deliverables completed and ready for release, which is a great incentive to continue working on the project.
Convince investors to fund your startup:
You have to convince potential investors that your idea is worthwhile if you hope to get their funding for your MVP. But words alone do not determine whether or not an investor will back a company. Once you have a proof of concept in hand, you can pitch your idea to potential investors and persuade them to fund it.
Have a basis for future development:
Though this isn’t always the case, a proof of concept has the potential to develop into a functional product. Therefore, you can use the resources you invest in the Proof of Concept stage to develop the MVP.
What is Proof of Concept (POC) in Software Development?
A proof of concept is a verification methodology used in the early stages of the product development lifecycle in software development. The purpose of the proof of concept is to validate the software idea – it’s all about proving that the proposed system, application, or product will work in real life before you start developing it.
What is Proof of Concept (POC) in Software Development
Table of Content
- What is POC in Software Development?
- Why is Proof of Concept (PoC) Important?
- What are the Different Types of PoC?
- The benefits of creating a PoC in software development
- Steps for Creating a proof of concept
- 4 Crucial Factors for a Successful PoC Software Development
- Proof of concept Examples
- Conclusion: Proof of Concept (POC) in Software Development
- FAQs on Proof of Concept (POC) in Software Development