Most organizations enter the business world with that fire in their belly to do everything on their own.
These are some common thoughts,
We are entirely capable; hence we will directly participate in all the aspects of the business!
Oh, we do not need a project manager, we can take care of that!
Deploying certain programs is not a problem, we can totally tackle this!
Well, it looks ambitious, however, like all the coins there is a flip side to this too!
Imagine, you own a restaurant! Now if we go with the ‘we will do it all’ philosophy; you will be the finance guy, the waiter, the cook, the cleaner, and also a manager.
Does this situation look ideal? If you ask us, it screams chaos and looks nothing less than a disaster.
Research done by the US bank says the reasons why most businesses fail overwhelmingly are,
- 70% of the businesses fail to recognize their shortcomings and hesitate to approach the ones who can help
- 82% of the organizations fail due to poor cash flow management
- 78% of the businesses fail as they do not have a well-developed business plan
- 73% fail for being overly optimistic about sales
But as luck would have it, we have an ensured solution to all the problems!
And here is the hard data that solidifies our claim.
- 45% of the firms hire remote teams for IT functions as they save a lot of money
- 46% say that IT offshoring or having offshore development services has helped them to access skillsets that are not available in-house
- 78% of the businesses feel positive and confident about their offshoring partners
- More than 1/3 of the businesses hire offshore teams for their business process
Now, let's see in detail how offshoring is a smart choice for businesses
Benefits Of Offshoring For All Business
1. Time to focus on priorityHiring offshore developers for your IT needs helps you to shift your focus on the main business and takes care of the minor activities. This gives you scope to act upon your business plan and work on revenue-generating streams.
2. Reduced RisksThe business world is a volatile place. No two days are similar as the market situations, financial conditions, technology, and government regulations change very often. No business can keep up with all these things. However, companies offering offshore development services have the expertise to deal with such risks.
3. Reach new overseas market
Hiring an offshore development team or remote team in a different country gives you an opportunity to work closely with international labor and explore new markets.
The offshore development team has a better understanding of their markets, regional trends, and business risks that you might have no idea of. This inevitably gives you an edge over your competitors.
Software development can burn a hole in the pockets of any business. As it needs resources and IT infrastructure in abundance. Hiring offshore developers is the most efficient yet simple solution to this problem. Hiring a remote team for IT needs can save cost and secure 80% success for your IT business.
Often, businesses don’t have the essential resources. Such as a dedicated software development department, resources for every job, and advanced infrastructure. However, this gap is bridged by the organizations that offer remote teams and you don’t even have to pay the hefty price.
Read more on 5 Cs of Offshore Success
5. Significant increase in efficiency
When you work in-house, there are two things that you need to take care of,
a) Your core-business
b) Your software development process
It can be reliable and efficient to some extent but it comes with the price of your peace.
On the flip side when you go with offshore development services for your IT needs you will rest assured knowing you have a dedicated team that will offer a top-quality solution that too in the shortest of the time.
Another perk of hiring a remote team for your IT needs is; you are consistently updated with detailed reporting and evaluation. This ensures the product is turning out to be just as you wish, you can make the changes if required, and you will not be charged a dime for that.
Software development is a concept that has a fluctuation intensity. And it can be more in businesses.
And the downside of this is, an in-house team expects job security where they are paid irrespective of the workload.
This need of 'paying no matter what' to the resources eliminates when you offshore. You can scale up and scale down the resources via staff augmentation.
7. Tax-related advantages
It is a lesser-known fact that offshoring to the countries like India can reduce taxes. Many countries that specialize in offshoring offer relatively less taxes than the countries in Europe, the USA, etc.
businesses can use this money to generate newer business streams.
8. Time effective
For a long time, the in-house team was considered as most efficient as they were available quickly and worked closely. But is also the costliest option for the firms.
Since we now have a lot of options to connect with a remote team via texts, calls, and video meetings, remote-team has become a better option.
Choosing offshore development services for your IT needs will allow you to get experienced and skilled developers who will be productive from day one. No additional hoops to jump through, no hidden cost, no false claims. So, you save time and also effort.
- Long-term commitment
With the help of the IT offshore development team, you can solve the most complex problem with the highest efficiency. They ensure to offer a point of contact that is round the clock available to offer you support and maintenance. This ensures there are no delays, no complications, and no miscommunications.
10. Keeps future-ready
The technology market is constantly evolving. You will always be surrounded by new concepts, new trends, that you are not aware of and equipped with. Right now, it is all about, digital transformation, Power BI, DevOps, IoT, etc. With such a volatile market, you need to have an expert to cope with and exceed. And that experts can be your offshoring partner.
Note: You can find top companies that offer great digital transformation services.
Businesses have started to comprehend the benefits of hiring a remote team across the globe. It offers a treasure trove of advantages to businesses of all domains.
Yet, one needs to be cautious while choosing a partner to fulfill your IT needs. Always be clear about the model, type of work that needs to be offshored, project score, etc. This will help make well-informed decisions and receive a highly satisfactory outcome.
You can find one great option in Clarions vEmployee model.
We have given you the best reasons to opt for an offshore development team for your IT needs, so what are you waiting for?