An offshore software company is a business that provides software development services - a team of developers, testers, system administrators, project managers etc required to build your software (website/mobile app/platform etc.) from a location, which is far removed from your location, possibly in a different continent. There are many advantages of partnering with an offshore software company:
1. Cost savings
A considerable benefit of outsourcing software development is the potential for cost savings. The impact on a company's profit-line is substantial and cannot be ignored when a company chooses to partner with an offshore software company.
2. Reduced labour cost and time
Hiring developers with special skills can be done using other companies with access to a large pool of IT professionals. Instead of paying for the processes of recruitment, selection, training and development of employees, you can directly hire a temporary employee who has already completed these prerequisites.
3. Faster speed to market
In today’s competitive environment, companies are required to adjust tactics quickly to meet consumer demands. Hiring an offshore software company allows businesses to be more agile and bring projects faster to their customers.
4. Stay focused on your core activities
Managing a full in-house development team requires a considerable amount of time and effort. By moving work to offshore teams, you can get them to handle the day-to-day requirements, while the in-house teams focus on offering support to other departments that have a direct impact on revenue.
5. Implement New Technology
A good offshore software company can have the resources to start new projects right away. This is a particular benefit for small businesses, as they are not always able to afford hiring IT experts or develop in-house expertise to that level.
A few tips while making the decision about which offshore software company to hire:
• Review their technical expertise and experience: First, make sure the company you are hiring can really do the job. Find out what industries they have worked in, what expertise and technologies they are familiar with and what type of workload the firm or individual is accustomed to handling.
• Budget and reliability: Cost is one of the prime factors to be considered while making the selection. Check if the quoted figure fits into your budget for the project. Costs should not escalate anytime during the project’s duration, and there should be no hidden costs in the proposal.
• Client References: Choose an offshore software company that is already known for doing good work, and check their client references from the projects done earlier. Also, make sure you feel comfortable with who will be doing the work and that you can discuss your concerns and needs openly.
• Look at Samples/Trial version: Ask to see samples of work if appropriate (if you are using a graphic design firm, for example). Otherwise, you can get a trial task done in order to check the quality, timely delivery and commitment to the project.
• Location: The location of the offshore software company should be convenient, and should be easily reachable through direct flights.
Offshore software development companies will bring years of experience with them, saving you time and money. A natural and widely popular question is what countries one should look at when hiring an offshore software company. When it comes to the ranking of best destinations to outsource to, India is number one. It is a favourite of many Fortune 500 companies like Cisco and Microsoft, and is referred to as the IT capital of the world, with total IT revenue of $160 billion, and $100 billion in revenue of IT exports in 2016.