This interview originally appeared in The Rust Report.
Please provide a brief overview of the company?
Terem Technologies help organisations develop new software products and platforms. We’ve helped build all types of technology products, from mobile applications to cloud-based software-as-a-service applications to sensor integrations.
We can get involved throughout each phase of a new ideas’ lifecycle. Including idea discovery, product strategy, prototyping, project management, user experience and, of course, software engineering.
Who are your typical prospects/customers?
Our typical customers are enterprises, growing mid-market companies and startups. At the big end of town we’ve worked with the likes of Rio Tinto, Optus, QBE and Coca-Cola. We’ve consulted to Federal and State Government. We’ve also built new products and helped shape strategy with fast growing companies like Metropolis Inc, Birdsnest.com.au, Workible and The Search Academy.
We also work with companies looking for prototypes so that they can experiment with an idea.
When talking to customers what issues are top of their agendas?
Balancing speed to market and meeting customer needs against cost, reliability and quality. Usually, our clients have identified an opportunity worth pursuing but they need to ensure they keep costs low until the opportunity gains traction. However, they also need to avoid underinvestment as this leads to poor quality and delays, both of which can also mean a missed opportunity.
What are the biggest issues facing businesses today?
Managing the risks around innovation. It is one thing to say “we’re going to try new things and adapt quickly” but this often comes head-to-head with “we’re a business, we can’t take unnecessary risks, we don’t want to endanger the existing business, we need to watch costs and make money”. We’ve developed processes and frameworks to help companies manage innovation risks.
What sets you apart from your competitors?
Taking new technology ideas to market within commercial constraints requires a particular attitude and approach.
Our people live for this type of work. Most of them have also worked on bringing their own ideas to market at some point. Being local also ensures the level of communication required when breaking new ground.
Our processes are derived from combining an enterprise software development lifecycle methodology with the latest in lean startup thinking to help clients manage quality, risk and other factors.
Our culture is geared towards exploring new concepts. For example, we’ve already been experimenting with wearables and virtual reality. We were also one of the first to license a technology from NICTA for a client’s project.
Our relatively small size ensures the flexibility and efficiency required for new ideas.
What are the company’s greatest challenges right now? And opportunities?
We have two major challenges. First is keeping pace with the most efficient ways to bring software initiatives to market, from technology to processes. Second is finding the right people to work for us, people with a desire to try new things under commercial pressure, people with an insatiable passion for bringing technology to life.
As for opportunities, more and more organisations are understanding the need to move quickly on technology and put new ideas into the market. Continuing to assist companies with the process of bringing new products and platforms to market with our brand of technology product development is an exciting opportunity.