Legal & Financial Decisions

Legal & Financial Decisions

The report will cover proposal of the new product for company name Triangle Solutions. The report will highlight the financial benefits that the product is expected to generate in its initial year. To highlight the financial impact, the report will present income statement and balance for given period. The report will also highlight the requirements of manpower and includes recommendations that company should implement the idea internally or build a subsidiary company for this product.

Part 1: Proposal

The company will sell a new product name “X-ERP”. The company will provide new and excellent features in this product.

Industry & Market Size

The industry analysis demonstrated that there is huge demand of products like enterprise resource planet. According to market research, it is estimated that the current market size of enterprise resource planet is around $ 39.23 billion. Moreover, the market demand is expected to grow as the researchers claimed that it is expected that the enterprise resource planet market size will be touching $ 55.268 billion mark in 2015 which is a very healthy sign for the local and international players. It provides room to players to introduce new products (Hiduke et.al, 2013).

Team Requirements

The product is directly related to technology field. The company will hire excellent staff to develop a product which will help customers in solving their queries. There will be a need of different types of teams to develop and operate enterprise resource planet product. First team will work on the features of the product that company is intended to offer to customers. Second team will be working on the design of the product. The design of the product is very crucial in this field because it includes things like providing data entry options. In this enterprise resource planet business, customers always need modifications in the products. The primary reason behind this is that the working procedures varies from company to company and each company wants to have modified ERP according to its requirements. Therefore, there will be another team which will focus on modifying ERP as per customer's requirements. There are fair chances that the company will need external help because of the difficulty level of product so there will be a team whose sole purpose will be to find appropriate external vendors (Carsrud et.al, 2007).

Scalability of Product

Scalability is the ability of a system, network, or process, to handle a growing amount of ...