NOVELIC, as a high-tech B2B innovative solutions company, has two business approaches:
- Project-related design service business, based or based not on own IPs
- Virtual design center cooperation model
Project related Design Service Model
NOVELIC works on design and implementation of a subsystem or group of functionalities with the specific product as work contract with target time and material model. The customer agrees on the design target to be achieved with frozen or semi-frozen specifications. The planning and quote with target costs are also agreed initially. The progress is controlled and managed weekly. Regular payments are performed. This approach guarantees compromise in adopting specifications changes by reaming the cost and time plan in reasonable corridors. If the fixed price is agreed, all design risks are integrated into the NOVELIC quotes, and all specification changes are treated as Engineering Change Orders. Existing IP cores are tailored and integrated into the innovative systems and products of our partners. It is typically implemented within application-related partnerships with our partners and leading customers. The partners or leading customers receive full-service support to provide innovative products in a timely manner on the market. This includes system design support, sub-systems design, and optimization, system integration support, system testing support, system validation support, field trials support, as well as end customer application support. NOVELIC can provide long term final product support.
The approach includes a project manager – the singular point of interface between NOVELIC and the customer with technically reliable reporting on a regular basis. Regular face-to-face meetings at both the customer’s and NOVELIC’s working sites are also included in both models, where the dynamics depend on the project size and content.
Virtual Design Centre Model
The customer books a design team with two to 20 members for exclusive work for the customer. The team size is chosen in such a way that NOVELIC project management may ensure efficient work on specific goals. The team works on the project where the specifications may be redefined during all the phases and where the priorities of the work may also be dynamically reordered by demand of the customer. The team uses the tool licenses by remotely accessing the customer’s license pool. This flexible approach provides significant planning security for both the customer and NOVELIC. Therefore, a very attractive cost of engagement may be achieved by long-term assignment.
NOVELIC does not work in a consultancy business model on the customer sites. However, NOVELIC may provide experts to participate in the projects meetings or to support some specific product integration at customer‘s sites for a certain limited amount of time.