Tag: software development outsourcing
“Freelancer Reliance Rises in US, With 20% of Work Done by Them” – Bloomberg article based on a survey conducted by Harvard Business Review Analytic Services.
In the ever-evolving landscape of business efficiency, traditional staffing models are taking a backseat. Companies are shifting gears, embracing a panoramic perspective on talent that goes beyond the confines of full-time staff. The key to staying competitive? Embracing the freelance workforce. Join us as we unveil why hiring freelancers has become the cornerstone of staying ahead in the dynamic business arena.
Why the Freelancer Surge?
Imagine a workforce that ebbs and flows like a river, adapting to the contours of projects, surging with creativity, and saving on costs like a well-calibrated machine. This is not a utopian vision but a tangible reality, as revealed by a recent survey conducted by Harvard Business Review Analytic Services.
The survey provides valuable insights into the current state of freelancer reliance among US companies. According to the survey, a significant number of respondents expressed anticipation for an uptick in their reliance on freelancers. It reveals that on average, 20% of organizations’ work is currently executed by freelancers.
Perhaps the most telling aspect of the survey is the forward-looking perspective. Over half of the respondents foresee their organizations employing even more freelance workers in the future. This points towards a sustained and growing reliance on freelancers as an integral part of the workforce.
From startups to Fortune 100s, companies are hiring freelancers to fill skill gaps created by their own lean team strategies. The demand for specialized skills is soaring, driven by digitization, evolving customer needs, and the integration of generative AI.
A Report by Upwork reveals that 60% of companies plan to hire more freelancers in the next six months. This shift isn’t just about cutting costs; it’s about gaining quick access to critical skills when needed. Join us as we explore why freelancers are becoming the linchpin of business success and how this strategic shift is reshaping the modern workforce landscape.
Let’s dive into the freelance phenomenon and uncover the reasons behind its meteoric rise, all while understanding why businesses must pay heed to this transformative trend.
Tech-Powered Work Revolution: Freelancer Integration
Technology stands as the silent orchestrator, shaping the way we work and connect. As we delve into the profound changes brought about by the digital era, a significant narrative unfolds — the intersection of technology, remote work, and the burgeoning reliance on freelancers.
1. The Technological Catalyst: Making Remote Work the New Norm
From robust communication tools to cloud-based collaboration platforms, technology has dismantled geographical barriers, making it not just feasible but preferable for teams to work from anywhere. Technology plays a pivotal role in offering solutions that allow businesses to seamlessly integrate remote and in-office work. Tasks that were once exclusively handled in-house are now being strategically assigned to freelancers, leveraging their specialized skills and providing companies with a cost-effective, on-demand workforce.
2. Tasks Redefined in the Era of Remote Work
Rather than viewing freelancers as auxiliary players, businesses are recognizing them as integral contributors to the overall success of projects. Whether it’s project-based assignments, niche skill requirements, or the need for swift adaptations to market demands, freelancers have become key players in maintaining agility and competitiveness.
3. Wisdom in Embracing the Technological and Remote Work Revolution
As we navigate this new era, businesses must recognize the symbiotic relationship between technology, remote work, and freelancer engagement. The key to success lies in leveraging technology to create a seamless work environment that accommodates both in-house and remote team members. Remember, embracing the freelancer surge is not just a consequence of remote work; it’s a strategic move toward a future where adaptability and efficiency reign supreme.
Having considered how technology is shaping an era of freelancers, companies may find it beneficial to outsource their software development. So, let’s take a look at the benefits of software outsourcing.
The Freelancer Advantage in Smart Software Outsourcing
In the dynamic realm of software development, where every line of code is a step toward progress, a revolutionary shift is taking place. Picture this: a workforce not confined by office walls but a global pool of freelancers, each a maestro in their own right. As the freelancer surge reshapes the way we work, as noted above, US businesses are finding that outsourcing software development projects is not just a wise decision but a strategic leap into a future defined by innovation and efficiency.
Here’s why the business world is embracing freelancers with open arms:
- Flexibility: Freelancers are the virtuosos of adaptability. Businesses revel in the freedom to scale their workforce based on project needs. Imagine having a versatile team that seamlessly switches between tackling tasks swiftly or taking a more methodical approach, depending on the business’s evolving needs.
- Cost–Effectiveness: Freelancers offer a cost-effective solution, allowing companies to access top-notch talent without breaking the bank. It’s a win-win situation – you get the skills you need, and it saves you money.
- Access to a Global Talent Pool: Geographical constraints have become a thing of the past with freelancers. They bring a passport to a global talent extravaganza, enabling companies to cherry-pick specialists from around the world. The result? A diverse and skill-rich dream team.
- On-Demand Expertise: Not every task requires a full-time employee. Freelancers provide on-demand expertise, whether it’s crafting compelling content, coding in obscure languages, or designing eye-catching visuals. It’s akin to having a superhero roster at your beck and call.
- Project-Based Agility: Traditional employment can feel like a slow waltz. Freelancers, on the other hand, are the jitterbugs of project-based work. They seamlessly fit into the rhythm of short-term tasks, offering companies the agility to switch partners as projects evolve.
- Innovation and Fresh Perspectives: Freelancers bring a breath of fresh air to the corporate landscape, injecting new energy and perspectives into the traditional setting. Their diverse experiences and varied backgrounds infuse innovation and new perspectives into projects, preventing the dreaded stagnation that can haunt in-house teams.
- Risk Mitigation: Uncertainties are part of business, and freelancers provide a safety net. Without the long-term commitment of traditional employees, businesses can navigate economic fluctuations and market changes more gracefully.
- Digital Collaboration: Freelancers effortlessly join virtual teams, ensuring that work doesn’t miss a beat, regardless of team members’ locations.
- Efficiency and Timeliness: Need something done yesterday? Freelancers understand the language of urgency. Their ability to deliver high-quality work promptly is music to the ears of companies with tight deadlines.
Read more: All You Need To Know When Outsourcing Software Development!
Essential Tips for Hiring Freelancers in Software Development Projects
Whether you’re a startup aiming for rapid progress or an established company seeking specialized skills, navigating the freelancer terrain requires strategic insights. Here are some indispensable tips to ensure a successful collaboration when hiring freelancers for your software development projects.
Tip 1. Clearly Define Your Project Goals: Before diving into the hiring process, take the time to articulate your project’s goals, objectives, and scope. A clear understanding of what you want to achieve will not only guide your freelancer search but also set the foundation for effective communication and collaboration.
Tip 2. Identify Specific Skill Sets: Freelancers often bring a diverse range of skills to the table. Clearly identify the specific skill sets required for your project.
Tip 3. Thoroughly Vet Freelancer Portfolios: Reviewing past work is crucial in evaluating a freelancer’s competence. Request and carefully examine their portfolio, looking for projects similar to yours. This not only showcases their skills but also provides insight into their style, creativity, and ability to meet project objectives.
Tip 4. Check References and Reviews: Don’t hesitate to ask freelancers for references or check their online reviews. Feedback from previous clients can provide valuable insights into their work ethic, communication skills, and overall professionalism.
Tip 5. Set Clear Communication Channels: Clearly define how you will communicate, the tools you’ll use, and the frequency of updates. This ensures that everyone is on the same page.
Tip 6. Create a Detailed Project Agreement: Clarity in expectations helps prevent disputes and ensures a smooth workflow. Hence, formalize the arrangement with a comprehensive project agreement. Outline project milestones, deadlines, payment terms, and any other relevant details.
Tip 7. Foster a Collaborative Environment: Encourage an open and collaborative environment. Actively involve freelancers in discussions, seek their input, and provide constructive feedback. Fostering a sense of teamwork contributes to a more cohesive and productive working relationship.
Tip 8. Ensure Data Security: When dealing with software development projects, data security is paramount. Clearly communicate your expectations regarding data protection, confidentiality, and any legal considerations. This safeguards your project and builds trust with the freelancers.
How Does Fingent Fit the Bill?
Fingent is a top-tier software development company that seamlessly fits the bill for businesses seeking excellence in their software projects. Here’s how Fingent stands out:
- Comprehensive Expertise: At Fingent, our team brings diverse technological proficiency, covering web and mobile development, along with cutting-edge domains like AI and IoT.
- Proven Success and Client Focus: With a track record of global success, we are committed to understanding your unique needs and ensuring tailored solutions aligned with project goals.
- Efficient Collaboration and Innovation: At Fingent, we emphasize transparent communication, timely deliveries, and a proactive approach to innovation, ensuring you benefit from the latest industry trends.
- Quality Assurance and Future-Readiness: Fingent’s rigorous testing processes and future-oriented solutions guarantee the delivery of secure, high-performance products designed for scalability and adaptability.
So, Fingent is a software development powerhouse that not only fits the bill but raises the bar for businesses seeking a strategic and innovative partner for their software projects. Connect with Fingent and transform your vision into reality. Give us a call.
It is getting more competitive than ever before for businesses today! Every company wants to lead in the market as quickly as possible. How can you get there first?
Software development can be your answer. But can outsourcing software development make a difference?
Outsourcing has been one of the most talked-about digital transformation strategies, especially if you want to launch your products quickly into the market. Outsourcing software development nurtures your business goals by saving time and cost. You ensure effective and innovative product delivery when you allow top professionals to work on your project. The benefits are not just limited to that.
This blog will explain the pros and cons of outsourcing software development and how you can select the right company so that you are well prepared the next time you plan to outsource your software development!
Why Outsource Software Development?
Organizations outsource software development to save costs and resources, nourish business growth, remain competitive in their sector, and more. By outsourcing, businesses enable their in-house team to focus on their expertise rather than be jack-of-all-trades. This kind of freedom allows your team to improve their performance in their field instead of doing routine tasks that consume precious time. Here are some more benefits:
1. Control business expenditure
The biggest driver of outsourcing software development is cost reduction. This frees up more funds to channel into other crucial business areas.
The question is, how does it reduce cost?
When you outsource software development, you are only paying for their services. You save common expenses associated with in-house staff like hardware and software, rent, training, etc. Besides, it is much easier and cheaper to outsource as you can find software development teams within a few clicks.
2. Gain access to the world’s best outsourcing specialists
Outsourcing software development goes beyond physical boundaries, empowering you to connect with the world’s best talent. The best part is that this collaboration could be for all projects or just a one-off project with no further obligation.
3. Saves time on onboarding specialized talent
Looking for a software developer with a diverse skill set is a complicated and time-consuming process. Plus, training a developer incurs more delays and costs. Conversely, outsourcing software development is far simpler while saving time, effort, and money.
4. Flexibility and speed
Outsourcing software development gives you the simplicity of scaling your project. An outsourcing company allows you to choose the right cooperation model that matches your business needs. This allows you to respond to changes as they occur and take action to address them with a quick turnaround.
5. Forge ahead with the latest technology
A good software outsourcing company uses the latest languages and development tools to build effective and innovative products at minimum cost. You can benefit from this and trust that the best tools will be used for your requirements.
6. Get exceptional support
Since the outsourcing firm may already have experts with immense knowledge in their field, they become your business partners. If you face any crisis, you can count on them to solve your problem as soon as possible.
Now that you understand why you should outsource software development let us clarify the difference between offshore and nearshore outsourcing.
Read more: Why Software Development Outsourcing Is A Smart Move Now?
Offshore Vs Nearshore Outsourcing
Offshore outsourcing is sourcing company operations outside your country in a different time zone. Nearshore outsourcing is sourcing company operations within your country.
Benefits of offshore outsourcing include cost savings, access to specialized expertise, and 24/7 support. Benefits of nearshore outsourcing include shared time zones, similarities in cultural background, better control, and better security.
Software development doesn’t need an in-house team, so you can choose either near or far outsourcing companies to build your ideal dedicated team.
Pros And Cons of Outsourcing
As for any solution, there are always pros and cons. Let us look at both, so you can make an informed decision for your business.
Pros of Outsourcing
1. Timing: While every business needs to go through a procurement phase, that time will be much reduced if you don’t have to spend onboarding the right talent. Besides, if your idea is still in the formative stage, you will not be able to attract the right talent. This makes outsourcing the best option.
2. Business goal: If validating your idea is your primary business goal, the earlier you begin to do this, the better. Outsourcing frees you to concentrate on business goals and build the foundation of your business viability.
3. Access to proven workflows: Because the outsourcing firm likely worked with many organizations similar to your business, you can be confident that it will implement proven workflows and processes.
4. Speed to market: Speed to market increases as the outsourcing firm can manage and optimize workflows.
5. Access to a larger talent pool: Outsourcing companies can access industry experts who can be reached whenever you need to consult them for a solution.
Cons Of Outsourcing
1. Risk of failure: Business failure is risky if you cannot manage your outsourcing company effectively.
2. Communication challenges: Some offshore firms with different cultures may pose communication challenges.
3. Lack of motivation: An outsourcing firm may not share your motivation to see a project through to successful completion.
4. Limited control: If the outsourcing firm uses freelancers, the hiring company may have only limited control over the actual work.
Digital transformation is an investment that has to be made to stay relevant. However, whether to hire in-house or outsource will ultimately make the business more successful and profitable.
Read more: A Detailed Software Development Outsourcing Guide For CEOs!
How To Select the Right Outsourcing Company?
Once you have decided to outsource your software development, evaluating and selecting the right vendor to complete the work that meets the best standards is crucial.
Here are some tips that can help you find the right outsourcing company:
- Research and list all potential partners who can provide the required services. Also, find out from others to see if they have any recommendations.
- Good communication is of utmost importance. Request a meeting to help you understand their communication style.
- Ask for references, read their case studies, and do your research to determine whether they have the needed experience and expertise to see your project through.
- Be cautious about any outsourcing company that offers cheap rates. Instead, enquire about their success in the past.
- Verify a vendor’s security policies, certifications, and accreditation.
- Ensure the vendor has professional liability insurance.
- Find out if the vendor can support all of the programming languages you need for your software development projects.
We at Fingent would love for you to come and test us out. Meanwhile, here is a look at what our clients have to say, some of our case studies, and a look at what we excel in!
Are You Ready to Outsource Your Software Development?
The choice is entirely yours. Make sure you consider all the pros and cons and make an informed decision. First, look at your business needs. Then, find out if the vendor is compatible culturally and financially. This will ensure a higher probability of success. We would be happy to discuss your needs and help you decide. Please feel free to reach out to our experts.
A Complete Guide to Understanding Offshore Software Development
- What is offshore development?
- What is the difference between onshore, nearshore, and offshore?
- What makes offshoring software development so popular?
- How does offshore development work?
- What are the advantages of offshoring software development?
- What are the disadvantages of offshoring software development
- What are the latest trends in offshore software development?
- How to choose the right offshore software company?
- Best practices to follow while offshoring software development
- Final thoughts
What is offshore development?
Offshore development simply is synonymous with outsourcing. It means you’re sending your software development to be done remotely by people who are located in different geography. Though ‘offshoring’ is perceived as risky in ROI, many software companies are considering offshoring software development as it can actually help a lot. Often, the main reason for outsourcing is the lack of human resources required for software development or lack of needed qualification level.
From simple coding to custom development, mobile application development, software support and maintenance, and website design and development, you can outsource tasks to a third-party offshore software development company.
Offshoring development will spare you from the challenge of hiring and training new staff and at the same time ensure you get the best quality software delivered to you in a short time. Offshore application development is used by many of the world’s largest and most famous corporations, so there is no question about its effectiveness.
Read more: Why Software Development Outsourcing is a Smart Move Now
In 2019, the global IT outsourcing market was valued at USD 333.7 bn which is only expected to grow further in the coming years. The inevitability of digital transformation is motivating organizations worldwide to offshore their software development needs. Offshore development companies thus become an extremely important part of the global economy.
What is the difference between onshore, nearshore, and offshore?
Onshore: Onshore outsourcing is when you decide to hire software developers within your country. Most companies find this option convenient and approachable.
Nearshore: Nearshore outsourcing is when you decide to outsource to developers from countries with a similar time zone. Typically, customers count on geographic proximity and cultural similarities.
Offshore: Here, the company of the service provider is located in a different country from yours. It can even be in a different continent with a notable time zone difference.
What makes offshoring software development so popular?
The main reason for its popularity is financial profitability. With offshoring, it is possible to minimize staff expenses within the customer’s organization as well as cut expenses such as rent of premises, equipment, social security, and deployment of development. In many of the developed countries, hiring and paying skilled in-house developers have a significant impact on the budget.
Some of the popular offshore countries in the world include India, China, Russia, Ukraine, Poland, Taiwan, Vietnam, S.Korea, etc.
On average, you can expect your offshore software development vendor to approximately charge the following rates per person per hour of work;
- Asia and Africa: $18-$40
- Eastern Europe: $25-$50
- Central America and South America: $30-$50
- North America: $95-$170
Depending on the requirements, engagement, and pricing models, the above charges may vary. To find out the actual outsourcing rates, you need to directly communicate with the vendor.
Read more: Selecting the Right Engagement Model for Business Software Development
How does offshore development work?
When you consider teaming up with a software development company located in a different country, you can:
- Delegate the project to an individual developer or an offshore development company
- Delegate only certain parts of the software or the whole project to the remote team
- Hire a dedicated offshore development team
If you hire a dedicated team or an individual, you will have complete control and ownership over the development progress which ensures that your remote workers are in touch with one another. This may not be a great idea unless you are a product management enthusiast.
If you turn to the services of a development agency, you won’t have to worry about finding the right resource to manage the working processes. Most of the issues such as what if a team member falls sick or quits will be taken care of by the company instead.
What are the advantages of offshoring software development?
1. Shared responsibilities and competent skills
Offshore development companies are more likely to share and manage the risks during projects, as they depend on the end-result as well. Also, deadlines facilitate a faster process.
2. No training or administration needed
Outsourcing companies need to stay competitive, hence they will have the requisite expertise. So, you need not worry about training the resources. Additionally, operational and administration costs will be negligible as you will not have to take care of office space, equipment, recruiting, etc. All these will be handled by the offshore software development company.
3. Faster time-to-market
Offshoring development ensures that your product reaches the market faster and on time. When qualified people work round the clock to develop your product, you can rest assured that you’ll be getting quality software at the end. Additionally, an external person or team can help improve your business processes and let you leverage creativity and innovation at each stage of the software cycle.
4. Lower cost
There’s no denying that maintaining an in-house IT team having expertise in the latest technologies is both challenging as well as expensive. By outsourcing your software development, you do not have to invest in IT infrastructure or worry about recruiting and training employees.
What are the disadvantages of offshoring software development?
1. Differences in language and culture
Differences in language and work ethics, cultural issues, what’s offensive and what’s not, etc., could lead to unpleasant situations if not known beforehand. For instance, working hard could mean something different in Spain and the UK. So, you will need to be thorough about the culture of that particular country before offshoring.
2. Core communication issues
Different time zones, working hours, bandwidth, etc may slow down communication. This could even hinder monitoring and resolving everything timely. A clear interpretation of roles and mechanisms, strong leadership, and an active management of culture by adapting to either the customer’s or the vendor’s corporate culture is an effective way to manage cultural differences.
3. Security
Data security is one of the biggest challenges faced by enterprises today. When offshoring your data, it’s important to validate the vendor’s trustworthiness and respectability w.r.t. ensuring data security. As a best practice, it’s recommended to sign a Non-Disclosure Agreement (NDA) or the confidentiality agreement between both parties (customer and offshore partner) which strengthens the confidentiality of data and relationship terms.
4. Quality of work
While offshoring may be cheaper, it does not assure the accurate skills or commitment to do the job. There’s always a chance of hiring a team with no proper skills. It’s important to conduct the vendor’s background check before outsourcing your requirements.
What are the latest trends in offshore software development?
Software development involves complex processes and is never an easy task. Developers and agencies have to embrace new technologies and trends to stay relevant and competitive.
Here are some of the latest trends in offshore software development:
1. Automation
Automation plays an important role in reducing human dependency, risks associated with manual labor, and costs. Apart from innovation and faster responses to changing business environments, technologies such as RPA contribute heavily to reducing administrative overheads.
Read more: How to accelerate your business growth with Robotic Process Automation
2. Cloud computing
Cloud computing offers scalability and flexibility and plays a vital role in offshore software development. More and more companies are realizing the benefits and possibilities of cloud computing and leveraging it. Soon, cloud-based applications and cloud infrastructure will be the way of life in offshore software development enabling companies to address the growing needs of businesses across the globe.
3. Artificial Intelligence(AI)
AI is taking the world by storm and software development is no exception. AI is specifically used to improve the quality of code and testing as well. Developers can combine AI technologies such as natural language processing, machine learning and business rules to build better software in a short span of time.
Read more: 6 Ways Artificial Intelligence Is Driving Decision Making
How to choose the right offshore software company?
There are plenty of offshore software companies across the world and finding the right one can be a daunting task. While word-of-mouth is still one of the best ways to ask for a reference and talk about the offshore team and ask important questions, there are still many other things to consider.
Firstly, groundwork is important. Finding the right offshore development company needs evaluation and time. One important tip is to contact several agencies and compare what they have to offer.
Along with checking the portfolios of software outsourcing companies, take your time to go through their social media handles, blogs, resources, endorsements, and codes if possible. You can even consider making a test run of a potential partner company related to technical requirements as it will help you make an informed decision.
Here are a few tips to choose the ideal offshore custom software development company:
- Visit the websites of several offshore development companies
- Check their portfolio and analyze their past and ongoing projects
- Understand the experience the company has in the industry you are interested in
- Learn the company rating on websites such as Goodfirms or Clutch
- Read reviews and testimonials from clients
- Learn about the professionalism of the programmers
- Learn how the company can support the applications if you develop any issues with the development
- Find out if the project development is iterative/ agile (that is, doing the work parallelly with continuous analysis of the results and adjustments in previous stages of work) or not
Read more: Points to Consider Before Choosing the Best Software Development Company
Best practices to follow while offshoring software development
- Get introduced to all the developers who are supposed to work on your project
- Make sure to have a full-time on-shore as well as an offshore team leads as they can establish necessary coding standards, help solve technical issues, and mentor the offshore team
- Use videoconferencing to arrange regular meetings to handle any issues and resolve the same in a timely and efficient manner
- Use appropriate tracking tools (project management tools) to plan tasks efficiently and prioritize work accordingly
Final thoughts
The demand for offshoring software development keeps surging as organizations want to optimize their business processes and align their strategic planning with their operational strategies. Outsourcing your IT necessities can be a boon in times of financial and natural adversities because offshore development companies like Fingent implement business continuity planning and disaster recovery plans to fulfill obligations and deliver services without interruption.
Our specialists and developers have several years of experience to complete complex tasks. We have expertise in offshore application development, cloud application development, system integration, and more. Hire our services and discover the benefits of partnering with us! Talk to our expert to learn more.
Top 5 benefits of outsourcing software development services
Software development outsourcing is empowering companies worldwide, including the most successful ones across their journeys. Leading players like Google, WhatsApp, Slack, and Microsoft have ample stories to share on their victorious feats with outsourcing development.
A study by Technavio reveals that the global IT outsourcing market will flourish at a CAGR of 5% during the period 2020-2024. The demand for outsourcing software development services keeps surging as organizations want to optimize their business processes and align their strategic planning with their operational strategies.
Outsourcing your IT necessities can be a boon in times of financial and natural adversities because outsourcing companies like Fingent implement business continuity planning and disaster recovery plans to fulfill obligations and deliver services without interruption.
If your company’s growth is dependent on software, and if you cannot afford your in-house IT team to divert from their core operations, it’s high time to outsource your software development needs.
Why software outsourcing is good for your business?
Facts and testimonies speak the truth!
More and more businesses today are relying on software outsourcing companies to develop their projects. Working with an outsourcing company will help you mitigate the risks of running a project internally. Outsourcing can compensate for a lack of in-house skills and ensures that your product is delivered on time.
At Fingent, we specialize as an offshore software development company. Many of our customers have shared their outsourcing success stories with us. A .NET based SaaS platform developed by Fingent has played a great role in the growth of the property management undertaking – SimpleRent. Here’s what SimpleRent’s founder told us.
PwC, one of our prominent customers, reports an 80% increase in productivity and a 67% faster ticket resolution rate after Fingent helped them implement a smart ticketing system. Thanks to outsourcing!
As an outsourcing development company, here are a few reasons why we think outsourcing makes your business more efficient and smarter.
Related Reading: Points to Consider Before Choosing the Best Software Development Company
1. Access to the finest talent and latest technology
Software development outsourcing helps in finding the right talents and minimizing your human-resource problems. If your country has a limited talent pool, outsourcing gives you access to a wider talent pool available anywhere on the globe.
Technology keeps evolving every day and your business needs to take advantage of its benefits. With outsourcing, you will gain access to new and innovative perspectives and an opportunity to utilize strong and diverse technology expertise.
2. Outsourcing cuts down your costs
The biggest benefit of offshore software development undoubtedly is the cost savings. Outsourcing software development companies do not necessarily demand you to make any upfront investments. By contracting work to other companies, you can cut down 70-90% of your labor costs, all while paying your outsourced workforce at competent rates. The cost advantages make your development project more attractive and reduce your overall workload.
Adopting a cost-effective engagement model is crucial to the success of outsourcing. We help you choose the right engagement model essential for the creation of your state-of-the-art product.
3. Improved flexibility and time management
When you outsource your work, you don’t have to spend time hiring and training resources. At Fingent, we take care of all the change requirements even when the project sizes vary or resource-related demands scale up.
Outsourcing software development services accelerate your time-to-market. With people working around the clock, your competitiveness improves greatly and gives you an edge over your competitors.
4. Take your business to the next level with a focused strategy
To win the technological race, you need to have a focused strategy. Every business needs to align its operational strategy with the changing people, process, and technology. When your software is developed by an outsourcing company, your business processes will be highly streamlined and optimized, allowing you to focus on the core activities that will take your business to the next level.
5. Managing risks and compliance
Partnering with a software outsourcing company like Fingent enables you to mitigate the risks associated with handling your project. We follow a high-quality project management system that has been tried, tested and proven across our past as well as ongoing projects.
While outsourcing your software development needs, you are setting out to work with a global talent pool. We take care of all the legal compliance-related matters that have to be fulfilled while onboarding offshore resources as well as forging contracts with our clients. This lets you focus on other things that matter.
Related Reading: The Pros and Cons of Outsourcing Mobile App Development
Ready to outsource your software development needs?
From resource hiring and onboarding to management training and payroll software, several functions can be outsourced by a company. In the age of globalization and technological competition, software development outsourcing is the key to your success. Share your queries and concerns about outsourcing with us. Our consultants can walk you through the best and most affordable solution that works for you.
Re-Engineer your Business Processes with Superior Solutions Now!
Most businesses in today’s digital age understand the importance of having in place well-oiled software to smoothen their business process, optimize workflows, respond to situations as it emerges, close deals quickly, and offer impeccable service to their customers. The software is the lifeblood of most enterprises, and in fact, many enterprises based their business models on software.
However, several businesses also underestimate the effort and scope required to roll out custom software that really works. Many of them make the mistake of entrusting the development task to an already overworked and overburdened internal IT team, who have their hands full with the day to day workings of the enterprise. Also, the IT team is unlikely to have the requisite development skills, which is markedly different from operational and maintenance skills. A highly competitive business environment raises pressure on every dollar spend, necessitating lean and agile development approaches.
Businesses looking to roll out high quality and robust custom software would do well to rope in a third-party strategic partner for the development process. However, not all software development firms are equal. Blindly entrusting such a critical investment to the first off the block is a sure recipe for disaster.
As the adage goes “If you don’t know what you are looking for, you are unlikely to get it.” The basic requirement before going in search of a development partner is having a clear-cut idea on the requirements, in terms of what exactly the software is supposed to do, and the target users. Clarity on these fronts makes it possible to search for partners who are familiar or have experience in the line of requirements and get accurate proposals. After having clarity on the requirements, keep these considerations in mind when choosing a custom software development firm.
Make the Experience-Talent Trade-Off
As a general rule, the best developers are those who have good experience under their belt, having rolled out similar projects. Any development process is invariably a learning process and involves some amount of trial and error. Experienced developers on board mean the company gaining from the learning the developer did elsewhere.
However, talent is hard to come by, and in any case experienced developers may cost more. Moreover, the world of computing is fast changing, with newer technologies pushing older ones to obsolescence. It may make sense to hire upstarts fresh with the latest cutting edge knowledge, and no baggage of the past to be moored to legacy technology. Moreover, such upstarts or startups, eager to make their presence felt, may also offer competitive rates.
There is no golden rule when making a trade-off between experience and upstarts. The enterprise needs to make a call depending on what exactly they are trying to achieve with the software. Would the requirement need someone with experience, or would a fresh, new technology be better? The budget on hand can also be an important factor in swinging the deal.
Either way, make sure the selected development firm has a team of committed and dedicated professionals, sound in the technologies which are to be implemented. Experience can be either an added plus or an essential requirement, depending on the project.
Evaluate Competencies and Opt for a Learning Organization
Regardless of whether the development firm is a start-up or has been in business for long, consider their investment in the latest tools of the trade. Evaluate whether they are constant in the adaptation of new development processes, and more importantly, whether the team is interested in learning new skills and technologies as it emerges.
Evaluate previous projects undertaken by the development firm, with regards to the technologies used, the intuitiveness of the user experience, and the overall soundness of the software. For start-ups, consider the track record of the key personnel driving the development process, and evaluate the extent to which they seem capable of translating their claims into action.
A tie up with a forward-looking learning organization is important even when the development firm may have demonstrated requisite skills required for the project. Software projects are rarely one-off endeavors. If nothing else, the firm would have to continue the relationship for support and upgrades, where knowledge of the latest technology becomes crucial.
Place Value on Collaboration
The spread of technology makes the world an interconnected marketplace, meaning it may no longer be necessary to hire a developer whose office is a few blocks away. In fact, outsourcing the development work to popular offshoring destinations is a great way to cut costs without compromising quality. However, while collaborative tools exist, stakeholders or team members still need to connect.
The very raison d’etre of custom software is to customize the software for one’s requirement, and success depends on close collaboration between the different stakeholders, from product managers to field executives, from customer facing end users to top management, from development teams to coordinators, and others. Seamless and real time collaboration is essential for requirements gathering, to understand the requirements, keep to the timelines, and there is no gap between expectation and execution.
The right custom software development company offer proven team collaboration and PM tools, to make the development process seamless. They would also deliver their critical inputs and suggestions to make the software better, and reach a consensus on the scope and methods, including the development methodologies, the extent of testing, and other crucial considerations.
The technology is only a facilitator. Opt for a development firm with a culture of collaboration, transparency, and openness, which makes all the difference.
Do Not Overlook the Legalities
In the midst of technical and strategic vetting, do not overlook the legal implications. The development firm would inevitably be gaining access to trade secrets, intellectual property, and the business strategy of the firm. As such, make sure to undertake extensive background checks, to be assured of the integrity and reliability of the partner. Here, developments firms who have already been in the business for some time have an obvious advantage, of having proved their credibility through the test of time. Make sure to clarify ownership of the software. Many businesses overlook the obvious and pay the price down the line.
When outsourcing to another country, make sure to evaluate all the legal implications of both the host country and the country where the data will reside.
Selecting a development firm is akin to selecting a strategic partner, and as such due diligence is essential. Apart from evaluating the firm on a purely technical and legal perspective, make sure to look for as “fit,” which would deliver synergy.