Outsourcing software development is nothing new. For many years companies have looked beyond their own four walls for partners to help enhance their digital transformations, all the more so in a business environment that sees the International Data Corporation predicting that global spending on such technologies and services will reach an estimated $6.8 trillion between 2020 and 20231. Software development is big business and organizations of all sizes have long been attracted to the cost savings that come from partnering with offshore outsourcing providers.
And while the financial benefits of outsourcing IT remain, many companies are equally attracted these days to accessing the innovative technologies and top engineering talent that reside overseas. In their quest to provide better CX, deliver projects faster and increase business agility, executives know there are literally tens of thousands of highly qualified IT practitioners plying their trade in outsourcing hotspots who can not only ease their current software development workloads but, also help take their future digital transformation efforts to the next level.
Outsourcing software development involves delegating the building of a software product to another company. Rather than enduring the hassles of recruiting staff and managing such projects internally, many organizations relish the advantages that stem from partnering with an offshore provider or consultancy that is highly skilled and boasts extensive experience in the field.
The benefits of IT business process outsourcing include:
As alluded to earlier, many companies will immediately turn their attention to the cost benefits of outsourcing to a certain country. The hourly rates or annual salaries of specialists is clearly one of the most important considerations when determining where to outsource software development to, but there are several other factors that act as a motivation.
Choosing to look offshore for one’s software development needs is just the first step on an outsourcing journey. Tapping into diverse talent pools, easing financial burdens and finding new sources of knowledge and skills may sound attractive but the key is to identify a country that best suits your specific needs. From the cost of labor and convenience of time zones to confirming expertise in the programming language you require, a little research can go a long way to ensuring success.
Whether the goal is to improve workflows, reduce human error or allow 24/7 capabilities, artificial intelligence was invented to make our lives more efficient. Explore the impact of AI on different business sectors, what the future of work looks like and how your business can embrace the technology to enhance operations.
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