How Companies Level Up with Technology Partnerships
Posted September 24, 2021
By John Shea III | Technical Writer with Xpanxion
Companies benefit when they work together to improve.
Synergy is defined as “the interaction or cooperation of two or more organizations, substances, or other agents to produce a combined effect greater than the sum of their separate effects.” The sum is greater than the whole. So when two (or more) companies, or a company and the government, work together, both will benefit.
Why partnerships? We do business with people we trust and create relationships to ensure success. You can try to make your business succeed on its own, but if you establish relationships with other companies, your chances improve to succeed.
To improve its chances to succeed and expand the capabilities of its products, a company can create its own feature, buy/merge with a company that already has the feature, or partner with another company so both can benefit. Time is the deciding factor based on availability and what the core is to the business and its team working on the product.
Intuit just announced their intent to acquire mailchimp. Once acquired, Intuit will expand its marketing platform for its own products as well as expanded mailchimp’s survey capabilities.
The “Create, Buy/merge, or Partner” is just one solution for businesses. “Do-it-yourself” has advantages if you have time but you pay all the expenses of development. “Buy/merge” is immediate but comes not only at the cost of acquisition but also at a cost of overlapping duties of employees. Eventually some of them will be laid off. Extraneous parts to the business will be sold off or disbanded. However, with a “Partner”, both sides share the cost and scheduling, then reap the benefits of their results, with both companies staying intact. This is usually a “win-win” situation, a bonus for all once the companies go their separate ways.
Five Ways to Have a Better Partnership
Here’s five ways how all stakeholders can have a better partnership:
Collaborate: Talk to each other. Work together. Facilitate meetings to resolve problems to keep on schedule and remove impediments.
Communicate: Make sure everyone is aware of what’s going on all during the process. Have a communication plan beforehand that determines how much information is needed by each stakeholder and the method and frequency whereby they receive it. Have a clear agenda before each meeting so you know what you will be discussing. Be transparent with your information and plans. Make sure you can get feedback on the information you provided.
Be adaptable to change: Change will happen. When it does, be prepared to modify your plans and processes, then communicate the change to every stakeholder.
Centralize your resources, data, and information: Control access to it but make it available to your stakeholders so they can be informed.
Define your project goals and your benchmarks along the way: Be specific. Inform all stakeholders. Know when the project is done. Have a meeting afterwards to find out what worked and what did not so everyone can improve.
What Xpanxion Does—How Xpanxion Partners
Xpanxion helps companies solve business problems with technology on a daily basis. Through our partnerships we help transform businesses by providing best-in-class solutions, developing custom solutions with modern technologies, and by delivering industry recognized off the shelf solutions.
Of course, you might get nervous outsourcing. Xpanxion's unique cross-sourcing model relieves that nervousness. With the Xpanxion team, you can access your own unique blend of on-site, US-based rural, and offshore talent that can help you take the next major step in technology. When you need workers you don’t have on premise, you outsource. Want to expand your technical capabilities? Partner with Xpanxion.
Solutions & Alliances
As a trusted partner, we work on solving business problems and ally with you to provide end-to-end value to solve your problems.
Platforms & Technologies
We provide best-in-class solutions by customizing solutions with modern technologies or by delivering industry-recognized off-the-shelf solutions.
Xpanxion engineers and innovates across multiple industries – across the full range of digital services – experience design, analytics, cloud, IoT, and agile. Our long-term partnerships support clients in their IT operations and helped us build our industry knowledge.
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About Xpanxion - Solving business problems with technology. We are software product engineering experts with over 20+ years of experience delivering the technologies, software architectures, processes and people critical to delivering success. As a trusted partner, we focus on business solutions and alliances that provide end-to-end value to solving our customer’s problems. We focus on providing best-in-class solutions by developing custom solutions with modern technologies or by delivering industry recognized off the shelf solutions.
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