What is PMAAS
Product Management as a Service (PMaaS) is, as the name suggests, providing the function of Product Management as a service, with the “service” referring to having access to an experienced Product Manager, product tools and framework at a flexible and predictable cost. Here at Product Labs we have embraced the PMaaS model and found that under the right scenarios, the model works well for our clients and provides them with a range of benefits.
Benefits of PMaaS
The below is not an exhaustive list, but rather a list of benefits that reflects what our clients at Product Labs have experienced when working under our PMaaS model:
Improved velocity to value
Working with an established product team, with product tools and frameworks ready to implement typically avoids reinventing the wheel internally and allows our clients to see product value sooner.
Flexible, predictable and often lower costs
Having a pay as you go model, with no commitment, and no capital investment, allowing clients to use as much or as little as they need, is one of the biggest benefits of the PMaaS model.
Exposure to latest product management methodologies
With a team of experienced Product managers, working across a variety of client industries / verticals, PMaaS provides our clients access to the latest methodologies, tools and frameworks.
Expert, objective insight
Having an experienced product lens that is external to our clients’ businesses often gives them new clarity to project challenges, their product approach and product strategy.
Value of collective product minds
Access to a Product Manager of Digital Product Labs™ under our PMaaS model, gives each client access to all of the team’s product experience and breadth.
So when is PMaaS appropriate?
As mentioned, here at Product Labs we have found that PMaaS is ideally suited under the following scenarios:
Before the first product hire
Many startups reach the point that they identify a need for a dedicated Product Manager, but are yet to secure sufficient funding to warrant a full-time PM hire. The PMaaS model works particularly well under this scenario, allowing our client to bridge the identified skill gap at an affordable, predictable cost and a duration that suits their budget.
Seed stage investment
Having an experienced Product Manager join a team and hit the road running and executing to a plan, aligns well with our clients that have seed size funding and a short runway.
Short term projects
Projects requiring additional (external) product management help also fit well into the PMaaS model. Our clients leverage the benefits of an experienced product team to deliver a project, whilst managing their expenses by enjoying a flexible, lower cost approach.
Product resourcing gaps
Gaps in resourcing, be it due to resources leaving the team either permanently or temporarily, are also well suited to leveraging the use of PMaaS.
PMaaS may not fit every scenario of a product management need, but from our experience the model fits well in certain circumstances as discussed above. If you would like to understand more about our PMaaS offering and how Digital Product Labs™ could help your startup please get in touch for a friendly chat about your product needs.