Top Reasons Why You Should Opt for Offshore Software Development in 2023
In this corona age, most companies face issues like the lack of resources, budgetary constraints, and meeting deadlines for projects at hand. While following the norms of social distancing and offering the remote working facility to existing employees, companies find it difficult to complete the projects on time, and as a result, they have to spend more money, time, and effort. Here, offshore development services lend a helping hand.
Offshore development is the process of developing digital solutions for parent industries to outsource some or all development-related tasks from a third-party company from a different country. The parent organizations consider contacting an offshore organization in three standard ideal conditions, first, if organizations want to reduce the expenses for software development, second, if they want to expand their global exposure, and third if local resources are not compatible with development projects of the organization.
The rising labour and manpower cost in western countries is one of the primary reasons for organizations to shift towards offshore development. In this development process, an organization offshore software development from a country where production costs are lower. The lower production cost is not the only reason for companies to shift to offshore development services. By outsourcing a wide range of software development tasks to an offshore development company, businesses can save a lot of time and money on hiring, managing, and maintaining a software development team.
As per the Statista report, the current global market size of outsourcing services is approximately 92.5 billion USD. While the revenue generated through business process outsourcing(BPO) was only 26 billion USD.
TOP FIVE REASONS COMPANIES ARE OPTING FOR OFFSHORE DEVELOPMENT SERVICES
1. Maintain Cost Efficiency:
Offshore development reduces the internal and external costs by hiring, managing, and maintaining the software team. While outsourcing the services, companies do not have to worry about Infrastructure, recruitment-related tasks, and HR teams. By using offshoring services, organizations pay only when the project assignment is under development that makes the development process smooth and cost-effective. It also helps to avoid any unforeseen costs. A reliable offshore software development company provides transparent costing for your plans according to the available budget.
2. Productivity Enhancement:
An organization with partial or few IT-based infrastructure and work processes doesn’t require many IT facilities. If an organization is not completely IT-based and only requires few development-related projects, then handling a whole team, and infrastructure would not be required neither the additional cost for its management. In such a case organization can take offshore services for complex IT services this will cut down the major costs and complications and will provide time to take care of other tasks of business.
3. Availability of Innovative and highly skilled professionals:by using offshore development services, organizations can access a wide range of expertise to gain unique solutions for their software from experienced and expert professionals. It is also an excellent way of discovering and testing available resources in the huge market area and get standards in software development. Offshore development service adds quality and value in long run.
When companies fail to meet and measure the success of new software, most organizations prefer to hire an offshore development company and leave the project management duties to their offshore partner. Organizations can get the opportunity to select developers, designers, and project managers after finalizing to work with a reliable offshore development company. The organizations can also include or remove any developer, designer, or project manager for valid reasons.
5. Risk Management:
It is one of the most beneficial factors of accessing offshore development services. Many companies do not understand the risk factors involved in software development. In offshore development, organizations and offshore development companies agree to a set of terms and conditions and also share the impact and risk management involved. Outsourcing services provide overall risk management and moderate risk management by sharing responsibility with the hiring organization.
These days, a reputed offshore development company enables your organization to leverage the benefits of emerging technologies including IoT (Internet of Things), big data, AI & ML, blockchain, and cloud computing, software developments. Solutions with advancements of these technologies can take modern enterprises to a new level in a short time. When it comes to bringing automation and implementing digital transformation in the processes, offshore development services remain useful.
Let’s understand this by taking an example of AI and ML technologies. AI-powered app solutions are highly secure and user-friendly, as they can give a personalized experience. The machine learning concept is integrated into such apps to make them ready to respond to the user’s queries or feedback. AI-powered chatbots can serve customers or app users on a 24/7 basis while offering a personalized and humanlike experience.
The BFSI and retail sectors can leverage the benefits of big data analytics and cloud computing along with blockchain technology. On one hand, blockchain technology can make online transactions more secure and speedy, and on the other hand, big data analytics can assist banks and financial organizations to simplify the online loan application process for their customers. The cloud computing concept makes apps accessible anytime and from anywhere using Internet-driven devices.
Offshore development services are designed to provide cutting-edge tools and highly skilled developers to organizations. Companies can survive and thrive in this turbulent time with the help of outsourcing while saving a lot of bucks. All they need to hire a reliable, reputed offshore development company to get rid of all the worries related to hiring employees and overheads.
Semaphore Software is an end-to-end offshore development services provider. As a renowned offshore software development company, we integrate advancements of emerging technologies into customized business apps to keep our esteemed clients a step ahead of the curve. Want to know more about our services? Just drop us a line at email@example.com, and we will assist you to make a complete roadmap for your business needs.