IT outsourcing’s global market size reached $342.9 billion in 2020 and is estimated to hit $410.2 billion by 2027. Seeing the statistics, IT companies are now in a hurry to stay ahead in this cutthroat digital age.
As such, they invest a great deal of time, effort, and money to acquire powerful, innovative, and relevant software solutions. One such solution, beyond the usual scope of new tech, is the evolution and incorporation of Offshore software development.
More software businesses are now turning to offshore development to build a new website, chatbot, or any inventory management system. Offshore software development is the easiest and most readily available solution to help you shape your idea into a product & then successfully deploy it in the market.
All without considering talent profiles and hiring in your own geography.
The Global Offshore Software Development Market is booming worldwide, and ten years from now, you will see remarkable development.
In 2019, the global Offshore market size was USD 900 billion, & by the end of 2026 the numbers are expected to reach USD 1300 billion.
With this significant change in the market, all-sized businesses are constantly looking for an offshore software development company that can bring value to their business goals by providing talent, teams, and tech solutions.
This article talks about how offshoring is an excellent fit, even for an enterprise with complex legacy projects and is the future of all enterprise software solutions.
Offshore Development: The Right Fit for Future Needs
The future of offshore software development seems to be bright and reflects the prudence of enterprise tech and business heads.
With evolving technologies transforming the mobile app and web development world – enterprises are facing an increasingly substantial talent crunch. Local developers work freelance, are expensive or are just not enamored by enterprise tech.
And, to cope with this, it’s crucial to embrace offshoring services that can offer enterprises a virtual team to fulfill all your software project’s requirements.
With a futuristic vision, offshore outsourcing is the right fit because of the changing work environment, high costs, and an agile methodology. Have a look in detail:
1. Changing the Concept of Software Delivery
Change is inevitable! To survive in this fast-paced world, enterprise leaders need to consider the flexibility of technologies as well as teams. By leveraging offshore software development, you can avail certain advantages –
- Globalized Teams – Distributed Teams working on different projects or features in your project. Each team handles their own gigs or can also act as a supplement to your own team.
- Mobility – It allows you to stay connected with the team or the client and send/receive important information or data anytime, anywhere by sitting at your solace. Thus, offshore teams have the freedom around the milestones and requirements that you set.
- Employ different Demographics – Currently, the workforce comprises 50% of millennials, including the age group between 24 to 37. As such, it might be crucial for you to consider experienced developers working on legacy software models – which certainly is much easier with the accessibility provided by Offshore setups.
- Advanced Technology – Contrary to the earlier point, enterprises might want to consider modern technologies or craft a project on a modern tech stack – and would thus need a new, robust talent pool to develop their projects. Therefore, the addition and requirement of Offshore vendors, ready to provide with the requisite talent assistance.
2. Offsetting Costs
The primary reason why most businesses are opting for offshoring is the cost. The cost of developing a software product on-site is higher than doing the same thing, on the same tech stack off-site. That’s why the demand for offshore software development has soared. You can hire a reliable offshore software company that can help you build an offshore team or provide you with a dedicated IT offshore developer (a solo hire) to satisfy project prerequisites.
In addition to that, Offshore software development enables you to focus more on –
- Core business strategy – instead of worrying about managing the complex and time-consuming process of software development.
- Managing Product Quality – without worrying about the team traction, training, and learning curves.
- Building High-quality products – Task the Offshore vendor with consistent iterations and product/project rollout.
3. Follow Agile Methodology
“Being Agile” is the key to Successful Offshore Software Development.
Even for Enterprises.
The Offshore team follows an agile approach, including an iterative process with continuous feedback resulting in high-quality software.
As with flexibility in teams, Offshore introduces a defined Agile model with their teams thus improving the product, accelerating the value proposition, and evolving as per the customer feedback.
With Enterprises having complex projects, following the iterative process becomes a little cumbersome – particularly if you factor in the attrition cycle that any organization faces with in-house hires.
With Offshore teams, you can rely on their years of Agile experience and processes and bring your complex projects through a process of continuous planning and feedback.
4. Workflow Transparency
Transparency in the workflow is always a concern when your team is distributed in different places with time differences. With offshoring you can allocate the tasks to a team, set milestones, and get a better control on your project’s progress.
In addition to that, you can just peruse the details of the project after setting expectations.
Here’s how business owners can achieve transparency while implementing agile offshore development:
- With the help of tools and technologies, developers can measure their workload and work accordingly.
- Prior communication at the time of signing the contract sets the expectations and progress rate
- Backlogs and meeting records allow the business owner, manager, and team to view the project’s performance
- Regular review & feedback enhance the development process and fix issues or implement changes to avoid future risks.
5. High-Quality Services
Releasing the software product to the market on time is what every product development company craves. Companies that hurry their development process to speed up their launch time often compromise the quality of their product or create a bad customer experience. An offshore software development team creates custom enterprise software solutions and a detailed roadmap for your project.
The offshore team offers experienced IT developers to handle your project to deliver high-quality products. They focus on establishing efficient work operations, delivering on tasks, writing clean and efficient code to speed up the project delivery.
6. Flexibility & Faster Time-to-Market
One of the significant benefits of offshoring is flexibility. Hiring an offshore development team helps business owners build custom software solutions and pay for what they get developed.
The offshore team can also collaborate well with the in-house team to deliver on specific features thereby improving the project timeline. This way, there will be less room for errors with a faster time to market.
Readiness to change, consistent collaboration, continuous delivery, and an agile process – that is what every tech head can aim for when building or scaling a software project.
In that case, Offshoring, without any doubt, is flawlessly bridging barriers and offering solutions to problems that most enterprises are facing nowadays. The future of work is right now – where enterprises are creating top-tier software products while being practical about their requirements, operations, and accounts – thus factoring the very premise that an Offshore Development agency operates on (talent, delivery, and cost reduction).