These days, whether your organization is a small startup or a huge corporation, it can’t survive in this cutthroat business environment without the support of a well-functioning software product. There has been an endless demand for software development services over the last few years, which has led to unimaginable growth in the business sector.
Many companies turn to outsourcing for their software development needs and it’s not surprising why. This method of acquiring new talent has become more and more popular, with statistics showing the entire outsourcing market reached a staggering amount of $88.9 billion worldwide in 2017. Of that, $64.3 billion came from IT outsourcing, and software development played a huge part in bringing this number about.
When you look at the proven ways a company can benefit from software development outsourcing, it's easy to see why.
1. Huge Time Savings
Outsourcing software development gives you access to people working round-the-clock. As a result, your application will surely have a much shorter time-to-market delivery. This greatly enhances your competitiveness and provides you a head-up against the competition. It also frees up a huge amount of your time so you can focus more on your core business.
With outsourcing, there’s no need to spend time hiring, recruiting, training, and housing staff for certain projects. It also eliminates the need to worry about scaling employees in case there is a change in labor size as required by the project.
3. Significant Cost Reduction
This advantage is quite obvious. With software development outsourcing, there's no need to invest in any infrastructure or pay for HR services or operational costs. There are some countries where wages are simply much lower compared to those in others, which offers you a great opportunity to cut your expenses yet again.
4. Updated Technology
New technology is released frequently, making it difficult to keep your in-house IT team up to date with everything. If you encounter a situation where you plan to implement a new technology your team is not familiar with, outsourcing is an effective solution. You can save time and energy by outsourcing the implementation to a team that’s already well-versed in your target technology.
5. Fresh Perspective on Projects
When writing great software, experts are often required to try new approaches and think out of the box. Hearing new perspectives is an excellent way to improve projects. Remote team members might surprise you with fresh ideas and unexpected feedback on how you can make an application better.
6. Better Compliance
Software development outsourcing lets you gain access to talents around the globe without the legal compliance most businesses have to go through to hire new staff. Your outsourcing partner is responsible for all the legal paperwork and customs, allowing you to dedicate a large amount of time to things that matter more to you.
While each of the benefits mentioned above can convince a business owner to turn to outsourcing, this list is of course far from complete. There are a lot more ways outsourcing can elevate your business. Be sure to find software development outsourcing partner who can offer top-notch services, not to mention can communicate well with you and your employees for a smoother work relationship.