In this fast-paced digital world, the concept of software development has drastically changed as numerous global players are competing hard to develop the best possible software for their businesses. Offshore software development companies are preferred by organizations in developed countries mainly because of factors like expenditure, time and quality. Businesses looking for offshore companies should note that India has the world's largest technical talent pool. 50% of all 500 Fortune companies outsource their software development to India. IT tasks can be easily outsourced to reputed offshore companies rather than getting them done in-house.
The never-ending demand for website and app development by individuals and organizations around the world make offshore software development a feasible option. When you decide to outsource software development work, you can get things done at very cheap rates. For instance, an offshore software development company in India would charge just 20% - 30% of the price that a native software company in the US would charge. And despite this difference in price, there is no difference in quality and work also gets done fast. Thanks to the presence of a large pool of experienced professionals, India’s $150 billion outsourcing industry still continues to thrive.
Software Development in India Vs. Other Nations
India is a highly sought-after choice for overseas businesses as it provides high quality work at lower cost. 85% of all offshore software development work is done in India.
There are many benefits of offshore software development services, and they are discussed below:
1) Technology & Expertise
Outsourcing IT related tasks is very much in trend as there are scores of companies dealing in offshore software development. As a client, you have many options to choose from and you can expect the best output if you outsource software development tasks to vendors or companies that specializes in this particular field. You can also expect timely delivery of meticulously engineered applications when you decide to offshore software development projects.
2) Cost Cutting & Savings
We all know that budget plays in important role in all types of businesses. This applies to offshore software development too. As an entrepreneur you would definitely like to keep cost or investment low and revenue high. Investing in offshore software development will help you save a lot of money and time. Remember that recruiting a native software developer in-house would cost you much more than hiring as many as 7 offshore software developers. Since the talent pool, as mentioned above, is large, there is fierce competition for jobs and projects, which is not only driving the costs down, but also ensuring only the very best of talent is working on these projects. This is a win-win situation for you and, as clients have often remarked, the quality they get in a place like India is actually better than what they get whilst hiring locally.
3) Time Savings
Thanks to offshore software development services, today, businesses don’t have to spend time in recruiting and training the newly hired full-time staff for every technical task. Companies can use the saved time for core activities and business enhancements.
4) Quick Output
With the availability of skilled labor in countries like India, a global client can get the offshore software development work completed much faster than the competitors. The outsourced project can be handled by various developers in different time zones, which means that someone or other is working on the project during all the 24 hours of a day. This also implies that there would be minimum hassles and deadlines would be met with ease.
5) Innovative Ideas
Only skilled professionals are employed in offshore software development projects, so a client can expect a lot of innovative ideas and solutions from them. These offshore professionals would be technically sound and they would have a better approach while working on an outsourced project. Through offshore software development services you can get the best and certified talents and in a reasonable investment.
6) Post Delivery Support
Clients can avail extended support for 6 to 12 months from offshore software development firms after project completion. During this period bug fixing and software maintenance can be done to enhance efficiency of the software developed.
7) Streamlined Processes
Almost every offshore software development company followswell-defined processes to maintain quality in services. Focused strategies help in the smooth functioning of the processes that are streamlined to meet the client’s needs.
8) Secondary Business Tasks Can Also Be Prioritized
As an entrepreneur you will be involved in numerous business tasks. Once you outsource your software development project, you will have some time to devote to your secondary businesses. When you just have to overview the outsourced project, your burden and work-related stress would decrease to a great extent.
Apart from the benefits discussed above, there are many other factors that make offshore software development a fantastic strategy for businesses across the globe. According to a survey by Dice, companies in US and Europe probably have outsourced almost 750 thousand jobs in 2016. In 2018 and in the next couple of years, many US companies will try to outsource their software development projects to “nearshore” countries of Latin America; however, matching the amount and quality of work done in India won’t be an easy task for them.