Outsourcing is shaping the global market, revolutionizing the way companies perceive their development, and bringing unrivaled opportunities to seize. Today, global competition requires enterprises to look for low-cost solutions while maintaining high operational standards. Outsourcing software development is one of the most effective solutions for doing so, as it allows a business to focus solely on its business actions and goals. Have you ever looked for a software development company overseas? You may have thought about it, but realized you didn’t know enough to make the right decision. Well, it’s time to get familiar with outsourcing software development. It’s actually a topic that covers a myriad of different strategies and processes. In this post, we’ll provide information about software development outsourcing and 7 reasons why you should outsource your software development.
Software development offshoring/outsourcing is the process of moving software development services to other countries. By doing so, companiescan make use of local resources to create their products, while saving on hiring costs and benefiting from the cost of living in other countries.
Now, the process of offshore software development starts by hiring new employees overseas. The skilled professionals hired based on the requirements work full-time, and the cost of their services is lower compared to employing in-house employees. Offshoring is indeed an attractive way to lower expenses and save time and money. By hiring offshore software developers, small and medium-sized businesses can cut the costs of their projects without replacing excellent quality.
According to Statista, in 2021, spending on IT services is expected to amount to over 1.1 trillion U.S. dollars worldwide, a 9 percent growth compared to the previous year, potentially due to the economic impact of the coronavirus (COVID-19).
Outsourcing software development: Some of the benefits are staying on top of the latest trends, gaining access to specialists with unique skill sets, and establishing effective communication with the outsourcer.
Here are the top 7 benefits of software development outsourcing:
Experts hired based on offshoring work full-time, and the cost of their services is lower compared to employing in-house employees. Zero investment on your IT infrastructure or you don’t have to spend time recruiting, hiring, and training employees. So offshoring is an attractive way to lower expenses and save time and money.
Note – By hiring offshore software developers, small and medium-sized businesses can cut the costs of their projects without replacing excellent quality.
Hiring a remote software development team lets you save time and money while growing your business, you can spend more time growing your business and reaching out to prospects than managing talent acquisition tasks (and few in-house employees leave a year or two later in search of new opportunities).
Note – By hiring offshore software developers, your team can focus on core business functions like customer engagement, feature launches, and revamping the user experience.
With the increase in demand for highly skilled software developers on the rise, IT outsourcing companies based out of India are making a global expansion. The cost factor and expert skill pool have played a significant role in assuring the influence of the country in the market. The average developer hourly rate is now increased to around USD 30.IT Outsourcing Market – Some of the major players in the market are IBM Corporation, Accenture PLC, Infosys Limited, Tata Consultancy Services Limited among others.
Note – Bangalore and Hyderabad, these hubs offer high-end skills, yet they are still cost-effective than similar service providers across the globe.
While some businesses can release their product on their own, others will need a bit of help. This is where outsourced software development companies come in handy. However, if you have a good off-shore team working on your product, you can kick start your development at a higher pace than before.
Note – Contrary to the popular myth that outsourcing makes the product quality bad, the best way to minimize the risk of getting low-quality output is to choose the best outsourcing service provider among the rest.
Time in the IT industry is precious and every second counts. Sometimes, your project just has to be delivered early. That’s when you will have to depend on an Indian outsourcing company for faster project delivery.
Note – Faster project delivery can translate into a competitive edge over others in terms of project costs, profitability, and customer satisfaction.
The modern market scenario demands that businesses should digitally transform into a constant innovator to survive in the market. So businesses are likely to invest more in emerging technologies such as the Internet of Things (IoT), artificial intelligence/machine learning (AI/ML), 5G connectivity, and blockchain reshaping future software development outsourcing trends.
Note – The digital transformation market is expected to grow at a CAGR (compound annual growth rate) of 23% from 2019 to $3.3 trillion by 2025. (Research and Markets)
Software development outsourcing is now accessible to everyone in the world. The biggest benefit that software development outsourcing brings to an enterprise is cutting-edge software without paying the high cost of developing an internal IT department to build this software.
Joining outsourcing platforms and hiring developers for your software development can be challenging. The first step is choosing the right vendor with the best teams, comprising of individuals with complementary skill sets that create a synergy of ideas and experiences. Also, by choosing the right software development partner company, the time of development, quality, and cost-effectiveness can be greatly improved.
Worry not. We are here to help you out. Now, the research, design, implementation, testing, and overall deployment of efficient software can be readily managed by letting the experienced and proven minds from Scketch do the job for you — effectively lowering your risks to a minimum.