Outsourcing Software Development
Techanvio predicts that the software outsourcing market will grow by $98B from 2020-24.
A study by NOA (National Outsourcing Association) surveyed its respondents on the reasons for outsourcing with many of them stating the below reasons:
Improved UX - 23%
Abandoning Outdated Solutions - 17%
Cost Savings - 35%
A prominent data & analytics company Dun & Bradstreet released an article (Global Outsourcing Barometer) that talks about outsourced projects facing issues in terms of relationship with vendors, development, and emotional drain.
But that emotion has significantly shifted toward outsourcing over the past 2 decades with organizations realizing the benefits of outsourcing viz. talent, customer satisfaction, cost-savings, on-time deliveries, and customer-centered service.
Outsourcing software development is a much faster way to realize organizational & technical goals as compared to hiring FTEs which at a bare minimum takes up to 4 months or more. Outsourcing organizations invest heavily in talent thereby guaranteeing the customers they have readily-available & specialized talent for a customer's special or regular projects.
Outsourcing software development is also very lucrative for startups, mid-size to small companies with tight budgets. Many outsourcing organizations maintain high level of security protocols that can be vetted before signing contracts ensuring the customer's product/IP stays safe.
This method is not suitable for everyone. A lot of it depends on experience & expertise. Before embarking on such a journey check with your network about outsourcing and their experiences.
Outsourcing Software Development is and will be a lucrative option to organizations across the globe for various reasons. Sometimes it just doesn't make sense to build teams or expand teams while all you got to do is use an extended arm. A lot of it is only a mental barrier to what works and doesn't unless you have the clarity on how to make it work.
Advaithtech helps you achieve your software development roadmaps and goals with less focus on anxiety and more focus on trustworthy delivery. Try us or give us a shout to set up a quick meet.