Bill and James are passionate coders and run a startup at the heart of Boston city.
They have a small team of three more developers, and recently their startup is in news for the success of their mobile application called ‘Fit Me’. This application recorded 50 million downloads on the app store for its overwhelming contribution towards fitness goals. It is powered by a deep learning chatbot that gives personalized advice including diet plans to the customers based on their body types, habits, and goals.
This software company started with a capital of US$ 70,318 and now a proud profit-maker of US$ 2 million. Looking at the easy and interactive user interface of Fit Me, one leading fitness app provider company reached Bill and James to make a unique application specific to the patients fighting with cancer currently in the recovery stages. Bill and James were a bit stressed as they didn’t have both bandwidth and resources to develop this custom app.
The prominent question before Bill and James was how to cater to this specific client without utilizing their in-house team or hiring new resources. To dig into their problem, lets first look at the options available before them to resolve their situation:
Hire freelancers: Hiring freelancers is an easy option. However, you can’t rely on them completely.
Outsource the entire module to an IT service company: It is a convenient option for Bill and James. But this strategy demands a big budget.
Hire a development team from an outsourcing partner: Hiring developers from an outsourcing team is always a better option. If both Bill and James go for this option, they just need to pay the hired developers hourly. At the same time, they can expect project management and quality assurance at the same cost.
This blog guides you on how to search for a dedicated outsourcing partner for your custom software development projects.
What is Outsourcing?
Outsourcing is a prominent business practice in which a company appoints a third-party service provider outside the country to reduce operational cost. It is a path-breaking way to decrease your cost to stay at the forefront in the market. It allows you to increase productivity & efficiency and boosts return on investment (ROI) as Tom Peters, an American business writer rightly said, “Do what you do best and outsource the rest”.
Are you ready for outsourcing your custom software development project?
Do ENOUGH Research
When you plan to outsource, the third-party becomes an extended part of your venture. Hence, before finalizing an outsourcing partner an in-depth market research plays a key role.
You must analyze the following things to bypass any ‘unexpected situation’:
- You should look for a company that understands the ‘Lean Approach’ e. know the art of creating more value with fewer resources.
- You must check how they develop their applications (scrum, agile, waterfall, etc.)
- Ask some of their code samples and check their complete portfolio.
- Calculate the cost of work hour and approximate time to market (TTM). TTM helps to know the duration from the product planning until the product gets ready for launch. You can get the final expenditure by adding both costs.
- Plan meetings and invite the right persons for a result-oriented discussion.
Get a COMMITTED Team
Right commitment lies when your team is ready to complete the project on time even by burning the midnight oil. If you have already got a committed team, get the following things in place:
- Create your Service Level Agreement (SLA) with meeting time, contact person, SCRUM prints, and determine the Request for Change (RFC).
- Create the Key Performance Indicator (KPI) and implement it.
- Ensure your data sharing phase with the outsourcing company as your data is precious. Protect your data.
- Set your business requirement and concentrate on the core areas.
TRUST your outsourcing firm by letting them breath
Trust your outsourcing partner. Create a Business Requirement Document (BRD) and send it to them. It will help them to understand the exact customer requirements. Post understanding the requirement, they can break the requirement down into small parts and work to meet the holistic goals of the project.
SHARE your Technology Architecture
Make sure that your outsourcing firm knows the technologies you work on. Share your existing technology architechture with them. Be smart enough to look for specific developers who can work in diverse industry verticals and businesses.
Greater transparency leads to high-quality product. Both buyers and service providers should share more to gain more. Initiate a straightforward approach and do what is ‘right’ for the customers.
Outsourcing your custom application development project is undeniably a sensitive subject; a minor deviation and the company can suffer a huge loss of time & money. At the same time, outsourcing is essential to stay ahead in the competition. So be meticulous while choosing the right outsourcing partner for your custom software development process.