If you’ve never partnered with an outsourcing company for software development, making the decision can feel pretty tough. That’s perfectly understandable. Outsourcing isn’t just about making benefits for the financial aspects. It also means dealing with how to work effectively with a partner outside your organization.
Outsourcing software development brings numerous benefits. According to Statista, the market is expected to grow at 11.07% (CAGR 2023-2028) and is forecast to reach $777.70 billion by 2028. These figures clearly demonstrate the many advantages that businesses can gain by opting for outsourcing services.
So, what are these specific benefits of outsourcing software development? Let’s explore them in this article with Nexle Corporation.
Benefits of outsourcing software development
A business has various reasons to consider outsourcing software development. In some cases, it may be their last option. Alternatively, they may choose a software development company as a long-term partner to drive innovation and foster growth in their business. However, regardless of the motivation, the ultimate goal remains consistent: to capitalize on benefits of outsourcing software development that are not easily accessible through in-house development.
Reduce the Overall Costs
Businesses often opt for software development outsourcing due to several significant reasons. One of these is the potential cost savings, which can reach up to 60% compared to traditional methods. By doing so, businesses can effectively allocate their financial resources towards other essential activities.
You must acknowledge that establishing an in-house software development team requires significant improvement. This includes internal development costs, salaries for programmers and related staff, equipment and infrastructure procurement and maintenance, human resources and project management expenses, as well as various other expenditures. These cumulative costs can create a financial strain on the business.
Meanwhile, there are a lot of benefits of outsourcing software development. Businesses can avoid the burden of fixed costs and experiences of maintaining an in-house development team. They can tap into the talents and experience of professional software development companies without having to establish or maintain a complex infrastructure.
Additionally, outsourcing software development companies come with hefty expenses and intense competition, which pose a notable challenge for startups, small businesses, and medium-sized enterprises. Nonetheless, the dynamic shifts entirely when considering the option of outsourcing software development to foreign firms. In this scenario, businesses can capitalize on the advantages of reduced labor costs. The talent acquired from various locations is often available at a lower hourly service rate.
When considering outsourcing. Vietnam is one of the best countries for offshore software development. In Vietnam, the average cost for developers ranges from $20 to $50 per hour. Opting for outsourcing software in Vietnam can result in a reduction of development costs by over 60% compared to performing the same work in the United States.
Bring in domain knowledge
Software development usually involves a team with different skills to ensure project success. However, there are instances when the experience of an in-house team may not match that of a professional software outsourcing company.
Bringing in new talent can boost innovation and enhance the project. Experienced developers from external sources offer fresh perspectives, extensive knowledge, and unique approaches to the table.
Software outsourcing companies are experienced in handling different software projects. They have acquired extensive knowledge and expertise to manage your specific business operations effectively.
This option provides many benefits of outsourcing software development. By choosing this option, you can save time and money since you won’t have to train your team on these technologies. Moreover, you will avoid the risks of mistakes and delays often associated with new team members.
Access a Vast Pool of Top-tier Talent
Software outsourcing allows businesses of all sizes to tap into a global talent pool. It goes beyond borders, enabling access to a diverse and skilled workforce with specialized knowledge across various technical domains, technologies, and capabilities.
With the assistance of software outsourcing partners, your internal development team can optimize efficiency and bolster productivity. They will benefit from a wide array of valuable resources and specialized expertise.
Helps businesses focus on core competencies
A key benefit of outsourcing software development is that it allows businesses to focus on their core competencies. By entrusting this task to professional outsourcing companies, businesses effectively allocate their valuable resources. This strategic move allows them to concentrate on activities in which they excel and generate substantial value for their customers.
Businesses can optimize their operations by choosing to outsource software development instead of heavily investing in human resources and technology for in-house development. It also allows them to allocate their resources towards developing core products or services, enhancing customer satisfaction, and expanding their market influence.
In addition, partnering with a software development company relieves the burden of managing and overseeing an in-house team. Businesses can now redirect their attention and resources towards enhancing their core capabilities without the need to worry about recruitment, training, or human resource management.
Reduce Time to Market
Establishing an in-house software development team is a time-consuming process requiring significant recruitment, training, and management effort. This can lead to delays in software development and project deployment. However, hiring a professional software outsourcing company helps avoid these challenges.
Outsourcing offers a streamlined project execution by eliminating the challenges associated with human and resource management. Established software outsourcing firms possess skilled and experienced teams capable of successfully accomplishing your project goals.
This approach not only saves valuable time and resources but also opens up the chance to boost the return on your investment from your business operations. Moreover, collaborating with developers based overseas can have its perks. The time zone difference could keep your project active round-the-clock, accelerating the project finish time and enabling you to introduce your product or service to the market faster.
Keeping pace with the latest emerging technologies
At this moment, we find ourselves immersed in an era where technology is progressing incredibly rapidly. New technologies, developmental structures, and project management tools are continually emerging. This swift advancement poses a hurdle for businesses of all sizes as they strive to comprehend and adjust to these continuous transformations.
Outsourcing software development becomes beneficial in this scenario. Companies can use their specialized skills and industry knowledge when they team up with professional software development firms. These firms make a point of keeping up with the latest technology trends, and they integrate them into their projects effortlessly.
As a result, when you outsource software development, you ensure your project is executed by harnessing the most advanced technologies and methods.
The capability to adjust resources as needed
The ability to adjust resources offers a significant advantage when collaborating with software development outsourcing companies, whether expanding or downsizing. This is the primary reason businesses choose to partner. Often, projects require a large workforce for efficient completion. However, once a project reaches its end, maintaining a fixed development team becomes unnecessary and burdensome for the organization’s resources.
Collaborating with outsourcing software development companies offers the advantage of not needing to hire full-time development resources. Instead, one can tailor a resource team that perfectly aligns with current requirements. This eliminates the headaches typically faced by Chief Technology Officers (CTOs) in managing human resources.
Offshore software development company – Nexle Corporation
Nexle Corporation, based in Vietnam, stands as a premier professional software development company. We’ve built a robust reputation over ten years, successfully providing countless clients around the globe with stellar software solutions.
Why should you choose to collaborate with us?
- Our team comprises highly skilled and professional software developers with extensive experience and industry-specific knowledge.
- Our experts are proficient in various programming languages such as C/C++, Python, Swift, Java, Kotlin, React Native, Flutter, HTML5, Qt, iOS/Android app development, and more.
- The company demonstrates a strong commitment to remain updated on cutting-edge technologies, constantly integrating them into the software development process.
- We always strive to optimize costs for our clients, ensuring maximum benefits for them.
- DevOps methodologies are integrated into our project development, accelerating the software development process.
- We strictly adhere to information security standards to safeguard our partners’ interests.
- Throughout the entire process, transparency is maintained from requirement gathering and project planning to development and deployment.
With our commitment, our projects will deliver the highest quality, cost-efficiency, and your utmost satisfaction. Contact us today to discuss your project.
