Decisions around product development require consideration of many factors and stakeholders– from the engineer, designer, salesperson and ultimately the customer — often with varying priorities and needs. Many teams may struggle with how to navigate these varying interests, and sometimes can lose sight of the bigger picture.
Reactive decision-making can contribute to creating even more issues. Nearly 84% of IT projects are unsuccessful, failing to meet time, budget, or functional expectations.
Prodmap, is an AI-based product management tool that enhances requirement building, design, roadmapping, and reporting. By integrating with existing data, Prodmap’s AI models identify risks, misalignments, and opportunities in real time, allowing companies to unify teams, set clear objectives, and develop products that truly resonate with customers—all from a single platform.
With Prodmap, products and enhancements can be delivered faster, teams can be made more efficient, and customers can gain access to new features with less additional development time.
“Prodmap works in the background, continuously analyzing data. When it detects beneficial insights, it alerts you — much like a trusted advisor guiding you in the right direction.”
— Arshak Avoyan, Co-founder and CTO
Here’s a real-world example of Prodmap’s effectiveness: For a popular mobile photo editor, Prodmap mapped the workflow of its designers and engineers, discovering that 20% of its development team were unknowingly duplicating efforts by working on similar deliverables.
“We saved them months of work and hundreds of thousands of dollars just by highlighting that information,” said Avoyan.
A Startup Emerges From Real-World Challenges
Prodmap founders Arshak Avoyan and Raffi Ohanian spent years working as software engineers and product management leaders, and became intimately aware of how much time, money, and effort can be spent on software projects that may not go anywhere. It led them to envision a solution that could leverage existing corporate data to optimize the entire product management cycle, ensuring a higher success rate.
Raffi Ohanian, Co-Founder & CEO
“We have seen how inefficient the process can be,” said Avoyan. “But we have also seen delivering the right insight at the right moment can dramatically improve success.”
They launched Prodmap in 2022, quickly gaining traction with $500,000 in venture capital investment and multiple enterprise clients.
In the spring of 2024, Prodmap joined the LIFT Labs Vertical AI Accelerator. The program connected Prodmap leaders with executive teams at Comcast to explore potential pilots and partnerships.
“It seemed like a no-brainer,” Avoyan remarked.
Tools for Tomorrow’s Product Teams
Prodmap can examine a company’s capacity to deliver on a product roadmap, identify barriers, and offer suggestions such as deprioritizing features or adding more people to a project. Additionally, Prodmap enhances data security, crucial when connecting to platforms like Jira and GitHub that hold sensitive corporate information. It offers multiple levels of security such as securing data through encrypted cloud storage or by integrating directly into a company’s private cloud infrastructure.
Looking forward, Prodmap aims to broaden the insights it provides, positioning itself as the go-to partner for companies striving to enhance product development efficiency and success.
“Anyone tasked with product development should consider us an essential ally to accelerate their process, optimize efficiency, and boost their success rate,” said Avoyan.
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