Serverless, Applications

Australian technology departments are still struggling to bring new customer products to market quickly. Just 10.28 per cent of survey respondents said they could take a new product to market in three months or less, while nearly 29 per cent said it took an average of three to six months. Nearly 50 per cent said it took six to 18 months to produce a new product and launch, and over 11 per cent said it took over 18 months.


What is the average time it takes to take a new customer product to market? 


Speed to market requires the correct processes, security, tooling, agile methodology and self-organising team structure. Even three months is a long time to take a new product to market in today’s technology-driven world. Although this timeline may be satisfactory for quarterly shareholder reports, it is by no means acceptable to today’s digitally-hungry customers and prospects. Companies, instead, should be aiming to use 2018 to increase their agility through adopting DevSecOps practices. New ways of working have the ability to halve the time new items can be taken to market, improving customer experience and therefore boosting business.


How often can you get customer feedback on a new product? 


In addition, the research found that it takes IT teams an average of 30 days to release a new product update. This is a worrying statistic considering the dramatic rise in cyber security breaches in Australia. According to a government report, over 90 per cent of organisations experienced a cyber security breach or threat in 2016 that compromised the confidentiality, integrity, or availability of network data or systems. The number of threats is only set to rise, and businesses need to be ready to promptly roll out updates to ensure security. 

Want to know more about bringing your products to market quicker?

Discover how Allianz discovered a previously untapped 300 million pound market and – through empowering its people – delivered a disruptive service 14 months ahead of schedule by attending our talk at AWS Summit Sydney on Thursday 12 April at 11:15AM.

You can also find out more and meet the Contino team by booking a meeting here.

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