Product validation is the process of evaluating software during or at the end of the development process to determine whether it satisfies specified requirements. Product Verification is the process of evaluating software to determine whether the products of a given development phase satisfy the conditions imposed at the start of that phase. Product validation ensures that the product actually meets the user's needs, and that the specifications were correct in the first place, while software verification is ensuring that the product has been built according to the requirements and design specifications. Software validation confirms that the product, as provided, will fulfill it's intended use.

Product Verification and Validation is a cornerstone of the product development lifecycle. In today's highly regulated world, stringent conformance guidelines rule the processes of testing and regulatory submissions. Product verification and validation ensures that a product is built as per the correct requirement specifications and is in line with the requisite product usage. Seamless end-to-end testing of any device encompassing the integration of its software and hardware components is a pertinent challenge faced by product companies. Moreover, targeting emerging markets requires adoption of frugal innovation and value engineering principles, which makes it imperative for product companies and service providers to be fully equipped with the necessary acumen and tools.