Product Development Challenge
“We knew we needed to update our technology, but we just did not have the budget to make this happen”
If our client was going to stay competitive, they needed to switch from using batteries to producing their own power downhole with a mud turbine. Problem was, they did not have the cash flow to support this development. Hiring an engineering team with this kind of expertise was just not going to fit into the budget and this situation was getting worse every day – a real “catch 22”.
Finish Line PDS Bottom Line
“We were impressed how much a reference design can cut the product development budget”
The solution turned out to be simple – don’t buy the engineering team, rent it. Further, rent a team that already owns reference designs, expertise, and processes for developing the product you need. See our post on this subject: Small Company Product Development Cost Reduction.
Finish Line already had a reference design that was very close to the product they needed, and we had an efficient development process and team in place that allowed us to convert this reference design into a product that meets their product requirements. Finish Line was able to complete the project for less than a third of the original “in-house” estimate. Of course, it was not really a fair comparison, because we started the project more than half done.