In today’s digital age, software development is required by virtually every type of business. But hiring permanent employees to take care of functions like programming and new product development may not be the best solution when you consider the costs and training time involved. This is where software development outsourcing comes in. Working with a partner will not only allow you to save time but also lower costs significantly. Outsourcing can help you maximize efficiency and minimize costs, giving you a competitive advantage. The global outsourcing market amounted to 92.5 billion U.S. dollars in 2019. The most commonly outsourced jobs are technical ones like IT services and accounting.
Outsourcing software development refers to hiring a third-party programmer or company to perform software-related business functions. Even the most complex tasks can be managed effectively through the process of outsourcing. There’s a common misconception that outsourcing is only for large multi-million-dollar businesses. However, according to recent findings, over 37% of small companies outsource a business process, and this number is only likely to go up.