There was a time when people used to run away from the concept of outsourcing product development. Fortunately, after the COVID massive hit, there has been a significant change found across the globe. Companies irrespective of the sizes and business verticals are found trending towards this time-tested approach by hiring reliable custom software development companies without any complaints. Also, businesses and enterprises are now able to focus more on their core competencies instead of worrying about these technical issues.
What is Outsourced Product Development?
Now outsourced product development is basically a seamless procedure where you need to seek assistance from third-party service providers or a reliable software development company to take care of all your software development-related tasks, i.e. from development to testing to deployment and support and maintenance. By conducting a successful outsourcing product development project, all the non-technical vendors do get a fair chance to launch their software products without getting into the nitty-gritty of the technicalities. As mentioned earlier, outsourcing, or the concept of hiring an offshore software development company has been pretty much on the rise after the Global Pandemic hit. It may quite interest you to know that even global brands such as Google, Microsoft, and Whatsapp tend to outsource their projects after a point of growth. So why can’t you?
How can Outsourcing Product Development be Beneficial?
#1 Cost-effective
One of the obvious benefits of considering outsourcing is that it turns out to be cost-effective in comparison to hiring in-house experts. You see, one of the biggest challenges for any and every industry is the budget. However, outsourcing turns out to be of great help in that matter. It may interest you that more than 80% of US companies outsource product development to save money and time. In addition to that, when you outsource development projects, you are bound to have access to seamless global talent and that too at a pretty low price. For example, you can hire a backend developer at 98000 USD/year in-house whereas by outsourcing, you can hire a developer at 22000 USD/year.
#2 Quick Procedures
The next advantage gained by outsourcing a custom software development company is that all your procedures can be conducted quickly. You see here you may find a huge time zone difference. So even when you are sleeping your development project is ongoing. As a result, you will be able to deliver the product in the nick of time or maybe way before. So another benefit gained from outsourcing product development is lesser turnaround time and faster time to market.
#3 Lesser Risks
In today’s fast-paced world, nobody has time to take risks because one wrong move can lead to great losses in regard to branding, reputation, and overall image. Here when you outsource experts to do the job what happens is they work on your project from start to finish dedicatedly and even consider innovating when in need. In addition, outsourcing models are pretty flexible and ensure the overall risk is lower too.
How to Effectively Outsource Product Development?
#1 Picking the Right Vendor
The first and foremost thing to do to conduct any successful outsourcing product development is to choose the right vendor. Once you do that half the battle is won! You see you may find plenty of software developers or dedicated teams of developers around but this certainly doesn’t mean you can pick any. Not making the right choice could do more harm as a whole. So choose your outsourcing partner who is highly knowledgeable as well as carries an immense amount of experience in offering such services across the globe. In addition, don’t forget to look around for vendors that offer you flexible hiring options.
#2 Check out for Reviews and References
The next thing to consider when choosing an outsourcing software development partner is to look around for valuable reviews and references. You see going through reviews and references offered by previous clients can be of huge assistance here. Moreover, you get to know a lot about the company and its working culture. Do go through different reviews, feedback, testimonials, and view ratings on different platforms of the same company.
Also, consider referrals from trusted people and check out websites such as Clutch, LinkedIn, CIO Review, Ambition Box, Glassdoor, Google Review, and Quora.
#3 Interview Them
The next interesting and important step to take into account is understanding the overall workflow or process of the chosen offshore development company. You see, outsourced product development companies should limit themselves to great designing and development approaches but also follow or stick to the latest strategies and approaches to enhance all stages of the software development lifecycle.
Also, you can take details of third-party vendors regarding agile processes, sprint durations, and ceremonies. You are about to receive a better idea regarding workflows and timelines.
In a nutshell
So yes, this is all about outsourcing product development. With time passing by, the concept is supposed to be having a rosy future, no two ways about it! So better delve into it and I assure you by choosing the right outsourcing development partner, you will definitely swim through successfully.
