A comprehensive gap analysis based on a product requirements document (PRD) is the first and most important step on the way to a new product based on the flagshipfintech Platform. It helps ensure that the Platform is suitable for building the financial products our customers have in mind.
See the gap analysis process overview below.
Creating a product requirements document
A product requirements document (PRD) describes the features, functions, and expectations for the financial product a customer plans to create (or features to add to an existing product).
Define the goals
In other words, identify the problem the product should solve, its target audience, and desired outcomes.
Gather requirements
Conduct interviews, surveys, and workshops with stakeholders, including end users, product managers, and developers, to collect ideas of specific functions and features that the product should have.
Functional requirements
They describe the specific actions the product should perform -features, functionalities, and interactions that enable users to accomplish their goals.
Example:
Store POS
A point-of-sale system to work at the store level, able to handle the following:
- Customer onboarding
- Money transfer
- Currency exchange (buy and sell)
- Multi-currency cards acceptance
Non-functional requirements
They are performance, scalability, security, reliability, usability, and accessibility – the qualities of the product beyond its functionalities that define the overall quality standards and user experience expectations for the product.
Examples:
- Configurable role-based dashboards
- Customized work areas for employees
- Data centers at [specific location]
- Integration with [third-party vendor]
Technical requirements
Technical requirements include aspects such as programming languages, frameworks, databases, and integration points with other systems.
Examples:
- Dev, test, and production environments
- Scalability to any volume of transaction via increasing infrastructure capability.
- API services should be exposed to agents through secured URLs.
Add user stories and use cases
Provide context and use cases to better understand how a specific feature should work in different scenarios. User stories allow capturing user interactions and scenarios, describing specific actions, and highlighting user goals.
Use a spreadsheet/Excel format
Spreadsheets or Excel files provide a structured and organized layout, which is easy to navigate and reference specific sections.
It is crucial to understand that the more detailed a PRD is, the more detailed and informative the gap analysis will be, providing more insight into how to achieve the necessary functionality by using flagshipfintech software as a foundation.
Gap analysis
The gap analysis stage allows you to evaluate the compatibility between your product requirements and the capabilities of the flagshipfintech Platform.
Self-service gap analysis
A detailed Knowledge base allows you to independently review the features, functionalities, and technical specifications of flagshipfintech and make an informed decision on whether it is the right software foundation for your prospective product.
Professional gap analysis by flagshipfintech team
We offer gap analysis performed by our experts for a fee of Applies. It involves the following:
- Reviewing the PRD Our team examines the PRD provided by you to gain an understanding of the desired product, its functionalities, and user requirements.
- Identifying functional gaps We compare your functional requirements outlined in the PRD with the features of flagshipfintech to identify any gaps or missing functionalities that may require customization, additional development efforts, or integrations with third-party services
- Evaluating non-functional gaps We evaluate non-functional aspects such as performance, security, usability, etc.
- Customization and integration recommendations Based on the analysis, we provide recommendations for addressing any identified gaps.
Note This doesn’t include a detailed description of the additional developments necessary for building your product on the flagshipfintech Platform. Rather, we will indicate the need for the development of specific features/functionalities or integrations that are missing out of the box.
