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The business world is a cut-throat competitive scenario where you have to be on your toes all the time. Software development alone costs approximately $60,000 every year in the US.
Everyone is looking for a solution, that will accelerate revenue and builds customer loyalty.
Nowadays, organizations do not depend on local and in-house talent. With the help of technology, they go beyond geographical boundaries and hire developers from offshore countries.
IT Outsourcing has been practiced for decades. But this technological era has allowed it to bloom and become bigger than ever. In the past few years, offshore development has become an invaluable tool for businesses that are willing to grow and scale smart.
What Should be Done to Ensure Success?
1. Set Definite Deadlines
Thoroughly understand the complexity of your project & divide it into different phases.
After the discussion with your remote team, outline the delivery time for each phase. It will help you to ensure that work is getting done on time.
2. Easy Team Communication
Ensure that your remote development team is equipped/familiar with the latest technology (project management tools or reporting tools). There should be a single point of contact between your company & the remote team. It will avoid any kind of confusion or understanding.
3. Embrace the Partnership
Treat your remote development team as your local one’s & welcome them as an integral part of your company. Actively show your involvement in every aspect of the project’s progress. Ask your team to put forward their suggestions openly & share the work report on a daily or weekly basis.
Have you heard about a few big names that took help from different companies across the globe to enhance their business and now have been successful?
Well, Unilever, P&G, Slack, GitHub, Acer, AT&T are some of them.
Why IT Outsourcing is Inevitable?
1. It Gives a Head Start to your Business
When companies start a project, they wish to complete it as soon as possible. By hiring dedicated offshore developers, you can save a lot of time that you might waste while hiring an in-house team.
2. Saves More Money
Why pay a developer $80,000 to $150,000 a year when you can hire a team of mobile app developers from a different time zone for $40,000 or less?
The promise of big savings is the main idea behind working with overseas programmers for software development.
Outsourcing will help you save money, a lot of money!
Do you know US companies pay some of the highest salaries to their developers? Still, 40% of companies wish to outsource. Out of those companies, 64% cited app development as the main reason.
It simply states that outsourcing is a cost-benefit solution for software/mobile app development companies. In short, companies can save up to 60% by outsourcing mobile app development services.
3. Time Management
Entrepreneurs are hands-on people as they are doers. It is very challenging for any business to afford 24*7 internal monitoring. By building a team of dedicated offshore developers, you can save some time to focus on other important matters.
Being an entrepreneur you can make yourself busy in more strategic planning and marketing approaches. It is better to spend time generating ideas than wasting it on simple time-consuming tasks.
4. Quality Services
Outsourcing gives you access to a diversified skill set & resources that are proficient in handling projects with more precision. In comparison to your in-house team, your virtual team can provide quality deliverables quickly. In short, it will benefit your business by creating a stream of loyal & potential customers.
5. Competitive Edge
If your business lacks proactive leadership, a strategic offshore development team can assist you to become more efficient, competitive, and agile. By leveraging the potential of technological resources, your offshore development partner can help you get an edge over your competition.
6. The Pool of Talented Developers
Your company might not be specialized in every aspect, therefore, employees are likely to make mistakes.
However, when you hire remote developers, you connect with the industry specialists across that will fulfill all your requirements. In addition, it subjects to flexibility which is our last point.
Sometimes, urgent projects come up and require you to add new resources to the team. Because you know that the project will not last more than 6 months, then hiring a local employee would not be the right decision.
At this point, offshore development becomes the solution. Just hire developers as per your requirements and you are good to go.
Ever wondered what the future holds for outsourcing? We will let you know!
The Future of Outsourcing
Outsourcing has a good scope in the future & apart from Banking, Information Technology & Real Estate sector, it will play an important role in other industries.
1. Innovation Will be the Key
The service providers will have to increase their innovation capacity while focusing on idea generation and innovation. This paradigm shift will enable companies to differentiate themselves from others.
2. Challenging the Limits
It will become imperative for companies to hire another company that is willing to push boundaries into the core and advanced business areas.
This would further require overcoming structural constraints without ceding control over the strategic direction. Aim at value-creating arrangements in 2020. In order to do so, outsourcing companies have to develop new system-wide perspectives.
3. Outsourcing to Become More Specialized
With the ever-changing technological sophistication, the domain of outsourcing is likely to expand into new service areas. This will be developing a new market opportunity for customers and companies.
The pace with which new businesses are emerging is quick. Do you think you have strategies to compete in this ever-evolving scenario? In this competitive world, you have to be productive, innovative, and tenacious to conquer your competitors.
And shaking hands with a reliable offshore development center can be the master key to the success of your business!