Why 64% of Businesses Are Into Offshore Software Outsourcing?

Good news for organizations who wish to transfer technical risks, delegate tasks, embrace new technology, and, most importantly, grow their business via innovation! Offshore IT outsourcing is solely at your service. Even in the face of the COVID-19 pandemic, which forced companies to adapt and take more chances to survive, IT outsourcing proved to be a lifeline; but, given the growing expansion of IT services, is outsourcing software development actually the gold standard it claims to be?

Prologue

There are several things to keep in mind, ranging from developing a product from the ground to meeting deadlines, managing people, resolving technological challenges among other things.

Everything will be a lot easier if you employ offshore software development outsourcing.

When you outsource and delegate tasks to specialists, there is no need to put a lot of effort into running the project and doing other things.

According to offshore software development statistics, the worldwide IT outsourcing industry is predicted to generate $425.19 billion in revenue from 2021 to 2026. Revenue in the IT Outsourcing Segment is expected to reach US$393.90 billion in 2022, according to Statista. Bangladesh is likely to be your next software outsourcing destination since the country’s GDP is expected to reach $1.4 billion in 2021 because of cost savings, operational efficiency, and consistency in IT outsourcing services.

When to Hire Offshore Developers?

There are many situations where the need to hire offshore developers becomes the most viable option, for instance:

– Lack of In-house Tech Talent
– Need of Specialized Roles
– Handling Complex Projects/Tools
– Tight Deadlines
– Support & Consulting
– Cost-efficiency

Why Is Offshore Software Development Beneficial For Your Company?

The benefits of offshore software development go far and wide. With the right offshore software development company by your side, the possibilities are endless – You can leverage top-notch talent for your projects’ benefit through applying the best practices to increase flexibility and minimize downtime while you can focus your company, resources, your core business or boost the capabilities of your in-house talent.

Reduce risks and maximize the results of your software outsourcing project through:

Quicker Concept Implementation & Delivery
Higher Scalability
Optimized Workloads
Industry Expertise
Minimal Risks
Faster Launch Times
High-Quality Offshore Product Development

Essence of Offshore Software Development

Recently, many businesses have grown their reliance on offshore software outsourcing. The organizations that use agreements face both dangers and benefits of offshore software development, but don’t you worry this article has your back.

If you are an executive manager in a midsize to large organization, you undoubtedly have a stake in the success of the project you choose to outsource, and you made the right decision by choosing outsourcing as offshoring benefits from lower costs to involve monitoring to management to what not; the bottom line is that you can benefit by considering the approach below.

To deal with such complex and dynamic risks, businesses must go through each stage of the life-cycle, which offers challenges that must be addressed with particular tools, methodologies, and mitigation measures in order to make an informed outsourcing decision.

The stages of offshore software outsourcing life-cycle are:

#Stage 1: Strategic Assessment – Outsourcing objects may not be linked with the company’s overall business development.

#Stage 2: Business case Development – Incorrect outsourcing assumptions may result in complications with managerial competencies, cost reductions, and other concerns.

#Stage 3: Vendor Selection – Failure to identify vendor selection criteria lead to outsourcing goals and risks into account.

#Stage 4: Contracting – Service levels, incentives, security, and privacy are all covered by contract terms that can be missing or incorrect.

#Stage 5: Service Transition, Delivery & Post-transition Management – Low service levels, cost overruns, and other negative effects result in a lack of structured transition planning and processes.

How to Get a Fix on the risks at each stage of the project?

Companies frequently ignore some critical risk management considerations, such as the requirement to:

#Stage 1: Assess resources, processes, and capability shortages, as well as in execution support.

#Stage 2: When developing a business case and tracking company value, consider the cost and projected efficacy of risk reduction and continuing management.

#Stage 3: Use the vendor section procedure to proactively manage operational and compliance risk exposure.

#Stage 4: Create contracts that handle risks related to performance, compliance, and delivery.

#Stage 5: Make proper preparations for transition and change management. Maintain your vision and strive for constant progress to stay ahead in the curve of success.

Offshore Development Advantages Offered by BJIT

BJIT offers the best offshore software outsourcing services, using only the top 3% of Tech Talent. Finally, this can free up internal resources, enable you to focus on supporting your in-house team to achieve goals that will propel your company rather than worrying about extra hiring processes.

We also provide:

Solutions of Superior Quality

We can ensure delivery of high-quality custom-made software solutions to match your business’s needs thanks to our offshore development methodology and experience. This aids in the optimization of workloads, the reduction of dedicated software development time, and the improvement of offshore product development time-to-market.

Dedicated Specialized Services Teams

Delivery Teams, Staff Augmentation, and Project-Based Outsourcing complete our deployment procedure. You will be contacted right away by a team of software engineers that are trained in the technologies that best suit your needs and are eager to get started on your projects.

Overcome Obstacles

Working with the best software developers from an offshore firm enables you to get around development issues faster. Offshoring enables you to overcome obstacles by integrating talent with your in-house team or quickly finding the ideal match for difficult-to-fill or temporary roles.

Standardized Security Protocols

Cybersecurity is more critical than ever in today’s increasingly tech-driven environment. Make sure the IT business you choose has up-to-date security processes in place to protect all of your data and software.

A comprehensive list of services

What you require today may not be required tomorrow. The greatest outsourcing businesses are those that specialize in a wide variety of industries and can approach your project holistically and with a lot of expertise.

Final Thoughts

Businesses may save time, effort, and money by utilizing the offshore software outsourcing industry. If you want to save money and get a competitive advantage, contact the proper offshore IT outsourcing specialists, such as BJIT, to get high-quality products and services to help you succeed in the digital transition.