Over the years Newwaytech has adapted to our clients' schedules and their work style. As projects are different and unique we believe that each project requires a unique strategy while partnering with clients. We ensure clarity in client requirements related to Off-site, Fixed-price, Time & Material or Build-Operate-Transfer model before taking into account the need for offshoring. Hence after a detailed discussion with partners on the different parameters Newwaytech recommends the best fit to our clients.
Fixed Price Fixed Time Projects
In this model Newwaytech sets firm prices and time lines based on the system requirements and specifications document or a study of the existing system. The development process is streamlined as per this plan mutually discussed and agreed with the client initially. The cost of the project depends on the total execution time of the project and the number of resources deployed for it. This model is useful where the client is unsure of the execution time required for the project and when the requirements are quite complex or prone to changes time and time again. This engagement model provides greater flexibility when developing a product or specification on a regular basis and making the changes based on the changing market needs. The major benefits in choosing this model are – Provision for strong business analysis, market research and project management. This model provides business solutions for complex business problems, utilizing various skills and tools. Ensures tangible benefits and measurable results for assessment of the project.
Fixed Cost Pricing
Fixed cost pricing is a low risk option, which one can initiate when there is clarity in the scope of the project, its requirements and end result. We offer project-based pricing in domains wherein we have the required expertise and defined estimation tools to determine the resource commitments. This model ensures reliability and predictability. Newwaytech promises to deliver optimized performance of these projects on time and within the specified budget. The major benefits in choosing this model are – The scope and cost is fixed and known at the outset hence everything is clearly spelled out and agreed upon beforehand. Risk to both parties is very less along with scope. Risk reduction is because of the amount of effort that precedes the agreement phase.
Newwaytech understands the importance of assuring confidentiality to projects handled by us. We ensure the best infrastructural facilities as measures to affirm physical security, data security and compliance of the signed non-disclosure agreements with the clients. Only authorized personnels in the project are given access to sensitive data. The goal of confidentiality is achieved with proper authentication and credentials that individually identifies a user and controls access to the different data resources.
Newwaytech assures project and data confidentiality in such a way as to build on a long-term relationship with our clients. We see it as a responsibility to safeguard the clients IP throughout the Project evolution cycle. Non- Disclosure Agreements (NDAs) are signed with clients as to ensure data security and confidentiality and we respect the privacy of information. NDAs signed with us clearly detailing on the information or data collected from clients, its purpose, usage, measures taken to ensure security, to whom it is to be shared, etc. We have also signed NDAs from employees on their employment contracts clearly stating that disclosure of information on projects, innovations and clients are not allowed. If required Team Newwaytech has also signed NDAs for clients on request.
Time and Material Projects
This model offers skilled resources on a time and material basis. Often, clients may find it difficult to quote a defined or predetermined requirement especially when relatively new technology is involved. In such a scenario when specifications and plans are susceptible to spontaneous changes, we offer our clients dedicated resources on a time and material basis. This makes things flexible for the client, as he can determine the time & resources he needs and would be billed on the basis of the resources they utilize in terms of manpower, billable hours, any specialized software/hardware/infrastructure requirement used etc. The client retains the option to adjust the project resources based on their evolving requirements.