Before finding out the Best Software Company in Bangladesh, you should remember there are piles of things, creating a product from scratch: deadlines, staff management, tech peculiarities of the project, etc. Everything will be a lot easier if you use offshore software development outsourcing. When you outsource a portion of your responsibilities to professionals, there’s no need to put a lot of effort into running the project and doing other things.
Offshore software development is quite popular these days. The stats prove it: the worldwide IT outsourcing market is expected to obtain $425.19 billion in revenue from 2021 to 2026. Researchers indicate that IT outsourcing services market profit will reach $413.72 billion by the 2021 year-end. According to Deloitte, the most visible and reachable benefits (due to outsourcing popularity in 2021) were cost reduction, operational effectiveness, and consistency. This is going to be even more popular in the coming days. And a lot of people are shifting towards Asian countries because of the consistency in quality with affordable prices.
Why Companies Outsource IT Services to Bangladesh?
Bangladesh has developed into a lucrative platform for attracting potential IT business possibilities. Bangladesh has many remote employees that are keen to take advantage of the global marketplace opportunity. Aside from remote workers, Bangladesh has sales and marketing expertise operating in the BPO sector, with over 16 percent of people working online. Companies that previously used to rely more on India regarding outsourcing purposes nowadays prefer to assign the responsibility to software companies in Bangladesh. Some of the renowned IT service companies in Bangladesh include Genex Infosys LTD, BJIT LTD, FIFOTech consistently delivering services to clients worldwide.
Even though the local workforce was primarily specialized in areas like marketing, customer support services, and several other back-office kinds of tasks. However, the skills and the engagement of the professionals have expanded over the years and hence increased the scope for software development outsourcing to Bangladesh. Bangladesh still has great potential and areas to make improvements in the quality of the labor force and their expertise to become a key cost-effective provider of outsourcing services in the Asian region as well as the entire world.
Benefits of Outsourcing in Bangladesh
When companies decide to outsource some of their crucial IT services or maybe an entire IT operational tasks to a company in Bangladesh, certain factors play a key role to drive them more towards making such a decision. There are numerous benefits of outsourcing to a software company in Dhaka, let’s look at those to better understand how the IT and software industry in Bangladesh has been expanding over the years.
- Availability of Expertise
Bangladesh is a populous country that consists of a huge amount of young workforce. Each year around 10000 IT students graduate from different universities. Overall, it has been estimated that Bangladesh possesses around 200,000 potential candidates ready to work for the IT sector. Moreover, the best part which has made Bangladesh a prominent country for global software outsourcing is its cheaper labor cost which is almost half of what other countries like India or the Philippines charge. The young talents and their expertise get mostly employed in cities like Dhaka and Chattogram.
- Focus on Tertiary Education
The educational infrastructure of Bangladesh has strengthened over the years. There are over 150 universities, colleges, and other educational institutions which consist of public universities, private universities, and other forms of specialized universities. Advancements in the education sector have enabled the universities to offer more specific and technical subjects in the IT or engineering field. As a result, greater emphasis has been given to the IT graduates who are ready to grab the opportunities of the ever-growing software industry in Bangladesh.
- Government Policies
The Bangladesh government has taken several useful measures to boost the growth of the ICT sector in Bangladesh. The government has granted special tax holidays to the IT outsourcing and software industry. Apart from this government has also shared plans for developing IT parks in the coming years. Once the Sheikh Hasina Software Technology Park and Bangabandhu Hi-Tech City start operating in full swing, the entire growth of the sector will be further stimulated. Some other offers which have also enhanced the progress of the IT outsourcing sector include reduction in tax up to 50% for the foreign employees, Vat exemption for renting out corporate places for software development purposes, and lifting the barriers on foreign capital ownership in Bangladesh.
The entire IT sector would have been crippled if it wasn’t for the software companies that continuously keep on providing upgraded and modern versions of software to the entire tech industry. Different kinds of software are produced based on the type of industry or work it will be used. Let’s look at 10 top global software companies which are renowned in the software making business – Microsoft, Oracle, SAP, Salesforce.com, Adobe Systems, Broadcom, HCL Enterprise, Dell Technologies, Fiserv, and Intuit.
Apart from the global marketplace, like many offshore outsourcing companies, BJIT has changed the business scenario of Bangladesh software development. BJIT is known as the best software company in Bangladesh, optimizing the abundant pool of talent to optimize the right set of expertise for the projects of global clients. Over the last 20 years, BJIT has been persistently delivering high-quality services to global companies which include Sony, Valmet OY, Panasonic, and many others.