In a nutshell, R&D represents the activities that companies undertake to innovate and introduce new products and services or to improve their current offer. There are various types of R&D. For instance, it may not be a predetermined goal so the R&D process acts collaterally to support the ideas of employees, which do not necessarily have to be associated with the company’s business profile. Or on the contrary, the team is working on improving or adding new functionalities to the existing product.
Leonardo da Vinci, Thomas Edison or Józef Baranowski (you don’t know him? Better google it!). All of these great inventors could have submitted their ideas to R&D if they lived at our times. Patents, inventions and big discoveries are currently not reserved only for outstanding individuals or rich global companies. R&D is not about money – it’s about the team of right people, inventive, creative and hard-working. Most of the innovative solutions that change the face of IT are the result of teamwork.
Conducting R&D activities in the company brings a lot of advantages. It takes time to see some since the process of developing ideas into a ready solution is long-term and burdened with many corrections. But companies that put emphasis on innovation and science are ahead of the competition and generate greater profits in the final account. Some benefits are visible very quickly. We can certainly include here an increase in attractiveness on the labour market, especially among IT specialists. A company that focuses on developing the ideas of its employees, providing them with the appropriate technical facilities and essential knowledge (scientific cooperation) is definitely a place where more ambitious engineers will want to work. Long-term benefits can certainly include the fact that R&D solutions often improve the daily work of developers and contribute to the tech community.
R&D’s idea is rooted in our culture, it plays an integral role in VirtusLab’s innovative product development. Our next blog post will be about how it exactly works at our company! Stay tuned!