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TIME & MATERIAL SOFTWARE

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If you wonder what pricing model to choose for your software development project, you may be interested in learning more about Time & Materials. The T&M engagement model gives flexibility to your project while maintaining a balance of value. Read on for more details!
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THE BENEFITS OF TIME & MATERIAL CONTRACTS FOR CUSTOMERS

Reduced risks for both parties
Transparency is the primary advantage of Time & Material contracts. The client always knows specifically what they're paying for and where the value is being derived from. This helps the business secure better terms. Proper information sharing reduces risks and maximizes the value for everybody involved, as it ensures your team is on the same page about the risks and costs associated with the specific project at hand
Flexible and negotiable budget
In contrast to a fixed-price contract, working with a T&M contract, you know precisely what you are paying for, so you will never get caught in the snowball effect of escalation. Although a T&M price is usually negotiated in advance, the client can always come back later and adjust it to fit their needs
An agile approach to software development
The Time & Material model means dynamic conditions of running software projects. This is why the T&M and Agile create such a powerful and flexible basis for developing mobile and web applications. Thus, having your T&M project run in an Agile environment, you can be sure of the successful software delivery
No need to articulate the end requirements at the outset
Instead of contractually fixating all the project requirements, you are empowered to make certain modifications ad hoc as the circumstances change. This approach reduces project risks and includes the ability to make corrections on a case-by-case basis. Then, the process of coming to an agreement is quicker, more effective and seamless
Adaptability to the market requirements
The Time and Material engagement model allows responding to rapid market changes and shifts in consumers' expectations. The software product can be easily adapted at any stage of its lifecycle. New features and functionality can be added to the specification if the project team headed by the client decides it will improve the value proposition and make the solution better for the customer.
We get in touch with a client, and they present their idea to us. The client describes their wishes and their business requirements. With T&M, it is not a problem if a customer cannot picture clearly what software has to be like in the end. Our team immediately focuses on the main idea to later come up with a clear and sustainable solution.
In this stage, we approximate the budget and project scope. It allows making estimates for a delivery time, depending on the requirements of the project. Execution and other details are discussed with the development team. Finally, Time & Material proposal is made. Although the budgeted and actual final costs may be not the same amount, we guarantee that you will always be immediately informed of any changes needed and be the only one to approve them.
After the final agreement is negotiated, we start looking for the candidates to form the development team. A project team that will have to be subsequently responsible for translating the idea into implementation. So, it is being composed of tech professionals whose competencies match project requirements. We hand-pick candidates based on their technical skills, background, and development experience.

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Establish project timeframes

Compose a development team

Every project depends on a well-developed roadmap. A roadmap is a useful tool that gives the entire team an idea of where the project is heading. So, meanwhile, we break down the T&M project into smaller, more manageable steps. This is exceptionally important for software projects with a larger scope. We use deliverables and milestones to keep stakeholders informed and the development team organized and capable of communicating their outcomes accurately.

Plan the workload

So, the project implementation begins, which is leading to an effective solution. The Time & Material contract requires the client's continuous engagement with the team to ensure project success. The client is also proactively involved in the decision-making process by asking open-ended questions and providing real input throughout the project. The team continually evaluates the progress and must be able to adjust the design depending on the client's input.

Engage, contribute, and be up-to-date

HOW THE TIME & MATERIAL MODEL WORKS

The time & material model is perfect for you, as it has never been easier for businesses to spend budget on required resources hassle-free .

HOW WE HELPED OUR CLIENTS

1+
Billion USD saved of clients budget starting from company establishment
93%
Maximum growth of client's business using Vilmate's services
350+
Total of hired employees
all time
5+
Billions USD of investments received by our clients

POPULAR DEVELOPMENT TECHNOLOGIES WE USE

Angular
Being a custom web app development company, Vilmate is constantly striving to deliver remarkable results to startups, small- and medium-sized enterprises.
React Native
Our anchor service offering is custom software development. We hand-pick and hire awesome software developers and other IT professionals.
Python
Mobile Development is one of Vilmate's fortes. We employ a well-seasoned team of mobile developers with an excellent command of both iOS and Android.
Progressive Web App
If UI/UX expertise is important for the success of your application, Vilmate can offer you everything a well-seasoned UX/UI design company or professional UX agency can offer, and, perhaps, even more.
iOS&Android Native Apps
Vilmate's QA team is extensively experienced in all the main types of testing and has a good grasp of a broad technology stack, including some of the most cutting-edge testing tools.
Node.js
Our consultants are available for both short-term and long-term (including full-time) project engagements.

A COMPLIANCE MANAGEMENT PLATFORM FOR SCANDINAVIA'S LEADING COMPLIANCE PROVIDER

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