In the late 90’s the concept of offshore development seemed almost absurd. Businessmen questioned the ethics of offshoring and did not clearly see the opportunities. Today, there has been a radical shift in the perception, and offshoring is seen as an opportunity with lower operational costs, and significant help in management, scalability, and in turn increased revenues. The market size for offshore teams continues to grow exponentially.
The outsourcing landscape:
Location for outsourcing
India enjoys the number one position in the world of outsourcing. Marketing studies show that roughly 80% of the world’s 500 largest companies outsource some of their operations to India. As the demand keeps growing, more and more companies are moving their offshore locations to Latin America and Asia too.
Data security
A lot of organizations see outsourcing as opening themselves up to the risk of data compromise. But, in recent times this isn’t a hindrance anymore. As Data Security Policies and Procedures get placed, the trust factor is developed and companies do not think twice before they outsource nowadays.
Cloud Computing Technology
The Cloud offers flexible facilities and cloud-based applications can be launched anywhere and at any time. Businesses that invest in cloud technology enjoy 53% more revenue as compared to those who don’t. With outsourcing and the use of the right technology, businesses find value in the investment.
Collaborative tools
With outsourcing, there has been an increase in the use of collaborative tools. These tools enable businesses to communicate better, share information, and transfer files securely. Offshore teams no longer need to worry about miscommunication and time management costs.
Demand for cutting edge skills
The insurgence of new technologies is overwhelming. AI, AR, VR, Blockchain – creates a need for businesses to hire developers and technology experts from various skill sets and levels. With offshoring, businesses can leave the expertise to the outsourcing company while they focus on their core business.
Offshoring is not only viewed as the execution of a part of the business process anymore. The BIG picture says otherwise. Offshoring is now seen as a sound investment for the business and leads to diverse teams working towards the success of the company.
