We’re all participants as well as observers of the COVID-19 pandemic that is currently hitting the world. In such times of uncertainty, businesses are trying to cope with the newly composed scenario, the best they can.
All the efforts companies make are following the recommendations by the World Health Organization (WHO). WHO indicates the importance of social distancing to minimize the number of deaths due to the coronavirus outbreak. However, the reality is that up until 6th May, there are 1,286, 294 cases of coronavirus and the numbers are growing further. And we’re all hoping for the best outcome.
Businesses are being affected in one way or another, since staying home is one of the precautions to slow the spread of the coronavirus pandemic. Therefore, their internal teams are encouraged to go remote, and distance working is slowly becoming the new trend. While the strict measures will reduce any flu pandemics to the minimum, the global economy is threatened by a collapse.
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So, if you’re running a business that is being affected by the latest pandemic, we must say welcome to the club! Don’t be disappointed, since for every problem there is a solution. Or at least, there has to be, with the immense technological advance that we’ve reached lately. Nowadays, the answer to many business issues lies in AI and robotics enabled by software development teams.
The Importance of Utilizing the Power of Technology
In an economic crisis such as the one created by the coronavirus, businesses can profit and benefit. It all depends on how wise they use their resources. Currently, there are so many intelligent individuals, tech-savvies and software engineers that have lost their jobs. It usually happens to employees of small companies, startups as well as in countries that have undeveloped strategic or economic plans to cope with the market crash. Therefore businesses can grasp the newly established opportunities that arise.
Now, the lack of software developers seems not to be so dramatic, since so many tech employees have lost their jobs. Overall, research predicts that within the United States, 37 million jobs will face a lay off at a specified period. It enables companies to reach global talent and reap the benefits of hiring an outsourced team.
Nevertheless, there is an implication that leads to the formation of the following question: How can businesses get to all those talented tech individuals out there? Well, the answer is quite simple - By collaborating with an outsourcing partner.
3 Reasons Why You Should Consider Software Development Outsourcing
Taking advantage of outsourced development teams has been a useful measure that successful companies incorporate to their business strategy. Just by leaning onto outsourcing companies, businesses are regaining the competitive advantage that is supposed to keep them on top of the game. Since there are a variety of benefits of hiring dedicated teams, we will elaborate on the top 3 perks that every software development company would get.
#1. Increase the cost savings and reinvest them into another section of your business
Hiring an in-house IT team is a costly alternative since developers’ rates will increase with their experience. And we’re all aware that for specific projects, you’ll need a senior tech team. So, you should have in mind that a junior developer in the US will cost you more than a senior developer in the Philippines. The case is pretty much the same when it comes to hiring developers from other non-developed countries as well.
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What is more, investing in an in-house team of developers requires additional expenses, such as onboarding, insurance, development tools, team building events, employee retention strategy, bonuses, etc. On the other hand, outsourcing projects will cost you 70% less compared to hiring an in-house development team. It’s why some of the most successful companies have taken into consideration outsourcing to destinations such as Eastern Europe, Latin America, or South Asia. Choosing a destination is usually according to the time zone match.
#2. Get access to a wide range of skill sets
Quality over quantity is what every tech director-general wants. However, sometimes the access to tech talents can be exclusive to software development companies.
Nowadays, if you’re willing to hire outsourced development teams, you’ll more likely get to the quality you are seeking in collaboration with a software development company. Achieving digital transformation is possible when you partner up with an outsourcing software development company.
Going global has never been easier! With the help of the right partner, you’ll get access to the necessary skill sets.
#3. Focus on your core business more
If software development isn’t your core competence, then handing it over to specialized professionals is the wisest option. Software development takes time and resources when done in-house, and that’s why you should consider outsourcing it. An outsourcing software development partner can be regarded as a branch within your organization, once you choose the right IT partner.
Within the whole process, as a client, you’ll be in charge and set the ground rules of functioning. In the end, the IT company will be there to make things easier for you, while you can focus on the growth of your core speciality.
Don’t you think it’s high time you used the opportunities that outsourcing companies serve right in front of you?