Key Benefits of Outsourcing your Software Development

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Key Benefits of Outsourcing your Software Development

Software Development Outsourcing

More and more businesses are looking at ways to exploit technology to transform their business and become more competitive, but few have the skills and resources in-house to achieve this by themselves. The natural solution is to hire new talent to facilitate this transformation, but there is a better solution: outsourcing to a skilled and experienced partner.

4 Key benefits of outsourcing your software development are:

  1. Access to the best skills

According to Statista the U.S. had just 568,000 STEM graduates in 2016 so it’s no wonder companies are struggling to find developers with the right technology skills and experience. And even if you’ve managed to employ some tech gurus on your team, you may not have enough to successfully complete your project, or maybe you need to adopt a new technology stack that no one in the team is familiar with. The good news is that there are many countries producing high numbers of STEM graduates - for example India, which had 2.6 million STEM graduates in 2016 – so whether you need 8 or 800 software developers, outsourcing gives you access to a wider talent pool which will allow you to plug your skills gap or build your product using the best technical resources at the right time.

  1. Quicker time to market

It’s widely accepted that innovating quickly or being the first to market gives businesses a competitive advantage but any delay in the development of your product or application will erode that advantage and cost you money. Very often the key ingredient used to measure the success of a software development project is the time it takes to get the product to market or for the project to go live. But it’s not just the additional development costs incurred if a project overruns, if you lose your competitive advantage you’re losing out on new revenue. Outsourcing your development to the right partner ensures your project is achieved on-time and on-budget – after all, in the time it takes to hire a developer in-house, your outsourced team can already have built a minimum viable product!

  1. Cost savings

One of the most popular reasons for U.S. companies to outsource is to save money. It’s well know that offshore development is considerably cheaper than using in-house resources, after all, the shortage of technology skills in the U.S. isn’t just making it harder to find a software developer with the right skills, it’s also driving up the cost to employ good developers.  But it’s not just the savings to be made on salaries, outsourcing also means no more overheads like covering vacations, or providing desk space and equipment. In addition, outsourcing gives you the flexibility to add, remove, or swap developers in your external team based on the skills you need at any given time.

  1. Focus on core business activities

Many organizations struggle to keep abreast of technological change and find that focusing their developers on new products or applications reduces the focus on core projects and competencies. Outsourcing new product and application development means your development team’s priorities aren’t compromised and there’s no adverse impact on your core business.

Conclusion

Whether you’re looking to maximize profit, drive growth, or gain competitive advantage, careful planning and selection of the right software outsourcing partner will bring huge rewards.

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