December 2019 was when the world realized that it was infected with COVID-19. The pandemic outbreak put humanity to a standstill and the whole world had to deal with a massive life-or-death crisis. This new virus spread like wildfire and caused devastation to 312 countries and territories around the world.
According to the statics around 7 million people were infected all around the world. As the world stood still and watched this destruction, it was also noticed that there was a significant shift in the current state of the global economy, politics, culture, healthcare system and educational system around the world. The IT industry was not an exception. The pandemic triggered a shock wave that increased the global demand for IT products and services, as the pandemic forced us into social distancing. Software Development Outsourcing In a report by Global Managed Services Report 2020, in which 1250 executives across 29 countries participated, which stated that 45% of companies will search for help externally over the next 18 months. Alarmingly, only 12% of the organizations said that they were highly prepared for the impact of the pandemic. This meant that the thought leaders, CEO, CTO and other senior executives must be ready to face an uncertain future. They had to be prepared to establish a resilient culture, create a broad ecosystem established on social collaboration, building a collaborative workforce of human and machine, adopting the new global norms and adopting a disrupted global service model. Risk Management Since the pandemic forced us into social distancing so businesses had to move their workforce and the command centres on a virtual platform so that leaders can monitor the operations from anywhere. So we resorted to work-from-home. So outsource software development became the new black and hiring offshore teams cocooned the on-going work from the lethal impact of the pandemic. Businesses were struggling to protect their employees, stabilizing their financial position while maintaining their quality of work and managing risk. Around 57% of the participants agreed that managing a house IT team is a key challenge. Geographic dispersion has proven to be the most effective risk management strategy business can adopt. Below mentioned are the benefits of outsourcing to other geographical locations have during the pandemic.
Cost The economic downfall during the COVID-19 era has compelled businesses to cut down their budget and reduce discretionary spending. Do you know the average cost of hiring a senior developer in the U.S.? If you don’t it is around 60 UDS. You can hire a person of similar technical expertise for 40 USD in China, and sometimes lower if you approach countries like India, Vietnam and the Philippines. Enterprise with low budgets and who want to maintain their quality of work should go for outsourcing software development at the moment. Not only it is lighter on your pockets but helps businesses to focus on their business processes and activities. This reduces the pressures on the in-house teams as they don’t have to spend time on maintenance and support of the product or the service. The remote teams which you have outsourced provide such services based on your needs like, updates, bug fixes, which leads to the reduction in downtime as well as prevent the revenue loss. Today, outsourcing is no longer considered someone who you just hire but is considered your strategic partner or IT partner. They tend to improve your experience as a business partner as well as improving cybersecurity. Nowadays, SMEs and start-ups can leverage the benefits without worrying about the relocation cost. Outsourcing is just not limited to large companies. It makes perfect sense for Start-Ups and SMEs to invest in outsourcing to maintain a steady cash flow both long-term and the short term runs. Current scenario and beyond IT vendors now have new possibilities to experiment with new concepts, ideas in developing software solutions due to the high demand in big data, cybersecurity, AI, and collaborative applications. Cloud Computing According to a report it is expected that the cloud market, globally will grow to 25 billion by 2021, at a CAGR of 12.5%. Cloud computing is now in demand than before as it will support the remort workflow. It will increase more even as e-commerce, digital payment and OTT media services are at an all-time high since the pandemic hit us. Cybersecurity As more and more people are resorting to working remotely coupled with online payments and other online services at an all-time high, cybersecurity risks are also increasing. It vendors are on a never-ending pursuit to come up with the latest cybersecurity solutions. Telemedicine The cloud-based telemedicine software is a protective shield against the coronavirus since telemedicine can be used in many different services like consultation, medication management, management of chronic health condition, follow up visits which can be achieved by secure audio and video connection over a mobile or a computer. The global telemedicine market is worth over 34 billion USD. The outsourced software development industry seems to be certain due to the disruption caused by the prevailing pandemic which triggered the slowdown in recruitment, the lack of talent gap, ensure projects’ quality, employees health and operating in tight budgets. This is why outsourced software development is the best software development service in 2020. We are a software product development company that builds solutions that help companies increase their sales potential and continue their functionality even in these uncertain times.
7 Comments
Charli
8/1/2022 06:02:25 pm
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