Companies who want to grow and expand should adopt the latest in the market. This holds true even for start-up ventures, small and medium sized establishments, and independent software vendors as well. Initially, adopting new things proved a little costlier; 41however, they offered the best results in the longer run. The latest and the best development that is catching the fancy of start-up ventures is the BOMT Model by LTS. Start ups have finally bid adieu to the traditional BOT Model that had a larger share of limitations than benefits. BOMT stands for Build-Operate-Market Transfer while BOT stands for Build-Operate-Transfer. The M of Marketing is missing in the BOT Model.
BOT Model, also known as a ‘turn-key project’, has long taken a backseat due to its limitations. Entrepreneurs were already waiting for a new and developed model that would overcome the drawbacks. They found a relief and a trusted partner in the BOMT Model, which suited their requirements to the tee. The latest model by LTS has become the key to offshoring product engineering and development. Start-ups need not settle with the low quality model when they can very well take advantage of a specialized one offered by LTS. The profitable and lucrative model has already become popular in the market due to its various benefits.
Pitfalls of the BOT Model
Many companies ignored the limitations of the traditional model in the absence of new and improved one. The conventional model involves profit element in equity portion of financing that is way too higher than debt cost. With the BOT model, the risk is passed to the private sector and not shared. This model is lengthy and time consuming, involving various types of expenses. Even the legal framework of the conventional model is complicated. While big companies adjusted with the conventional model, Start ups were not able to. Further, Entrepreneurs need to continue the tie-up with the service provider till the investment is fully recovered or break even. They cannot switch to low cost model during the agreement. Above all, the quality of work is way too low as vendors more than being trusted partners, look for profits. As small and medium sized establishments are low on finance, they were not able to afford the BOT Model.
Benefits of the BOMT Model
LTS put an end to all the limitations of the BOT Model by introducing an innovative model that works well with start-ups as well as entrepreneurs. The model is divided into four phases, build, operate, market and transfer. The first phase offers suitable product development and facilities that build up the foundation of a project. With the model, LTS offers comprehensive solutions to clients that help establish their brand identity at reduced rates. In short, LTS becomes the trusted partner of the client helping to set-up a new establishment. The second phase, Operate, offers services related to operations and management. This phase makes sure that the objectives agreed upon are met offering effective results. Even the promotional activities are taken care of. The third phase, market, is the exclusive advantage offered by LTS. In this phase clients are aided to expand their organization while finally transferring the ownership in the fourth phase, Transfer.
About BOMT
BOMT(Build, Operate, Market, and Transform) model, It is an innovative hybrid partner product development that offers a low-risk, hassle-free, cost-effective global sourcing strategy. BOMT works exceptionally well with StartUps, Entrepreneurs and ISVs. It ensures incubation, development, Gestation and transformation support to increase revenue and maximize ROI in short span of time.
For more details about service i.e. BOMT please click here or write us at– enquiry@leosys.net.
About LTS
LTS is Outsourced Software Product Development Company with innovation centers in LA, Chicago and India. The Company expertise covers BI, SaaS based applications, Cloud Computing, Migration, Integration, Cross Platform, Testing, Mobility, Big Data, Product Development, SharePoint, SaaS Tenant and IoT Integrations.
To know more about LTS, contact us at enquiry@leosys.net or call us at 407-965-5509.