Coronavirus or Covid-19 has a significant and serious effect on small and large firms in various countries and industries. This crisis has forced firms into a position where they had to act immediately or continue to be subjected to massive financial impacts.
Firms are now searching for ways to address the challenges, while being attentive to customers and their employees needs. The business impact from COVID-19 may be more substantial than its early estimates on global demand for IT products and services, including outsourced software development.
Outsourcing software development companies isn’t something new, as the most widely outsourced IT work has been software development. However, the pandemic of COVID-19 sparked the rise of the outsourcing industry of software development.
In this article, we will discuss the reasons why a business should opt for outsourcing and how it can be a winning solution even after the pandemic.
Reasons behind why outsourcing is emerging:
According to NTT’s newly published ‘2020 Global Managed Services Study,’ In the next eighteen months, about 45% of the firms will be outsourcing rather than insourcing.
Outsourcing has generally a cost-driven and value-driven vertical sector, even the post-COVID-19 environment would stay accurate and basic. Let’s look at more reasons for what make software outsourcing so in demand.
The pandemic has put a tremendous financial pressure on businesses, and has forced companies to adopt severe budget cuts that leave nearly no space for discretionary expenditures. In the most unfortunate cases, employees had to be laid off resulting in departments having to be shut down. This illustrates the need for flexible and reliable business models.
While applying outsourcing, businesses will be able to spend more on their main market operations. It is now complicated and more expensive to hire in-house. The recruitment process; not only can it have a longer timeframe, but with a new team member on board they wish for time to get familiar with your project and get productive.
Organizations that require reliable software development services didn’t bother to think twice about outsourcing them to other countries. Outsourcing offers stable resources by hiring remote developers as it’s relatively simple.
Sufficient time to take important measures:
In recent times, product quality has overridden cost-cutting as the primary motivating factor for the businesses engaged in making outsourcing decisions. Customers have strong aspirations of businesses, implying that businesses tend to spend less money on sales and upkeep more money on creativity, problem-solving, and customer relationships.
Yet again, outsourcing is beneficial because managers would set their schedules by forwarding maintenance and assistance to remote software developers.
Outsourcing teams can efficiently provide support resources for apps, including bug fixes and timely upgrades while avoiding revenue loss. Thus, you can use the time left to strategize, find ways to cope with the crisis or to think about new ways to reach customers.
Quality solutions with rapid delivery:
The COVID-19 crisis compelled many business owners who would like to change their business model to facilitate product creation without spending money too fast. Outsourcing their production work (part of it) to a third-party vendor seems, not only secure and strong but also includes fast implementation. This is one of the tremendous benefits from outsourcing, as companies haven’t spent time onboarding workers and will move straight to production.
Access to flexible resources:
It is a matter of agility to ensure business continuity and avoid interruptions of business-critical activities. Flexible resources help companies succeed in these unpredictable times. Outsourcing; unlike in-house implementations, allows a change in the number of developers as requirements evolve.
Timing is important as offshore development will accelerate significantly, faster than other in house teams resulting in reducing your time to market. Thereby, even those businesses who wished to insource agreed (at least for the moment) to outsource so they could reach talent more efficiently.
Good outsourcing environment is more than just remote work:
The Offshore software development company finds the right mark between remote job benefits and a comfortable office-based environment. It’s easy to see how a good outsourcing environment can make a huge difference compared to an environment in which local employees work at home.
Combined with extensive experience, strong project management and smooth-running monitoring processes by an outsourcing company; remote working can simply be described as a benefit.
Communicating with colleagues and teammates has never been easier, with many tools on the market for task management (such as Jira), teamwork (such as Trello, Zeplin, InVision, Bit.ai) and communication (such as Slack and Skype), working with people from thousands of miles away has never been more accessible. The key is to achieve organizational goals and objectives to then implement them consistently with the assistance of a dedicated development team.
Outsourcing expected to rise more in the post-pandemic world:
Over the past few months, we’ve been seeing an impressive implementation of remote work and digital access to services in all sectors. The representatives of businesses will encounter several big obstacles during the early recovery phase of partial reopening. Enterprises need new data and new models to allow decision-making promptly.
The pandemics has driven businesses to pursue new techniques in digital creation through the implementation of large-scale computer security methods and interactive applications, artificial intelligence and Big Data. While businesses are trying to support remote workers, the pandemic has accelerated cloud usage.
The urgent need for cloud services also arises as e-commerce, OTT streaming applications, and digital payments, telemedicine apps advance during this period.
In the years to come, rapid growth in software outsourcing companies appears inevitable due to these factors:
- Disorders of central IT industries
- Recruitment drop
- Lack of technology and expertise
- Challenges to cash management
Although the exact economic implications of the COVID-19 pandemic will continue to advance in the coming months, the software outsourcing market would have strategically transformed these challenges into opportunities.
What we do?
There is no doubt that outsourcing product development would be extremely important in minimizing COVID-19’s impacts on the market. All you need is a reliable software development partner; we create unique technological solutions by remote development teams to help organisations manage the chaotic pandemic.
Our global dedicated remote app development team consisting of accredited engineers, assures you consistent threat-diversification support services. We continuously track reports from the WHO and local authorities as your credible strategic outsourcing partner, to avoid immediate threats from your business operations due to COVID-19.
Outsourcing your software development is already a secure option that will give you the competitive advantage of your cost, engineering expertise, and human resources if properly managed and with the right partner. Due to COVID-19, a significant trend has been created to outsource software development.
Several firms including first and foremost those who resisted the proposal, pointed out that outsourcing has multiple opportunities and decided that they wished to start outsourcing the post-pandemic.