Running a product company is not an easy task these days, as the market competition for almost any niche is harder than ever before. Such fierce competition makes it difficult to run and make a good profit out of ISVs as most ISVs struggle with reduced pricing due to the competition. Even though SaaS model helps Product companies to reach out to SMEs with affordable pricing, it adds more complexity to product and adds complexity to implementation & product maintenance.
Such market pressure makes ISVs outsource their product development as well as maintenance to developing nations such as India. Outsourcing essentially removes the gap between different sizes of businesses as it evens cost, time and skilled resources across the board at highly affordable pricing. Let’s discuss how choosing an Outsourced Product Development partner in India can help your business achieve a greater ROI out of Your ISVs.
Top 10 Benefits of outsourcing your software product development to India:
- Lower Pricing
- Professional Touch
- Get a Managed Team
- Time is Money
- Save On Infrastructure Cost
- Avoid Spending on Support Services
- Get an international Team
- Easy Access to Specialty Resources
- Ease of Communication
- Focus On Your Core Business
#1. Lower Pricing:
Outsourcing can help you cut on the cost of recruiting & maintaining a software development team. By Outsourcing your entire product development requirement, you can essentially cut your initial investment and monthly recurring cost by more than 50%. Such savings can be directly invested in marketing your product or remove the requirement of additional funding/loan, either way giving you an ample advantage in the long run.
#2. Professional Touch:
By outsourcing the development part instead of hiring developers by yourself, you are essentially giving your product in the hands of experts. After-all software product development is the cup of tea for your offshore partner anyways. Using such a professionally experienced team to handle your software development will ensure an error-free world-class product. By launching a world-class product into the market you gain an almost instant advantage over your competitors.
#3. Get a Managed Team:
Apart from getting experienced professionals at affordable pricing, you also do not have to worry about micromanaging your team as that part falls on your outsourced product development partner’s shoulders. In other words, you hire experienced software engineers at half the price (compared to the cost in the US) + get someone to manage the work for free. This is certainly a win-win scenario for any product development company to think about.
#4. Time is Money:
As you are freed from managing a team of developers and support professionals you can focus your entire time on acquiring funds or on Marketing your product. Lack of time to handle multiple tasks at the same time is the biggest issue among most start-up product companies. By effectively outsourcing your software development process, you gain more time and remember, “Time is Money”.
#5. Save On Infrastructure:
Software Development Outsourcing not only reduces the cost of developers but also removes the unwanted expenses involving internal developers. One of the major reasons Startups in western economics struggle is due to the constant requirement for upgrading office infrastructure. Outsourcing is considered a boom for small and medium businesses as it enables them to compete with tech giants.
#6. Avoid Spending on Support Services:
Customer support and tech support are other non-core business activities that companies try to outsource to an offshore software development company in India. It enables US companies to focus on their core business activities and marketing while avoiding the stress of support and tech activities, which also costs considerably when setup in the US.
#7. Get an international Team:
When it comes to Offshore outsourcing one of the greatest advantages is multiple teams working from 2-3 different locations or time zone. The huge benefit from different time zone (especially considering the rough 11-12-hour long difference between Indian and US) is you can explain the development project during your day, and due to the time zone difference, it will be done during your night so that you can review it the next day. This time zone strategy can be used to effectively develop a strong application with step by step approach with relatively less time at a highly cheaper price.
#8. Easy Access to Specialty Resources:
Finding highly specialized IT resources is both harder and expensive, however, developing nations like India has a large pool of talented resources on AI or data science at relatively cheap pricing. Effectively enabling startups and Mid-sized companies in the US to gain easy access to these resources due to the relatively cheap labor cost in India.
#9. Ease of Communication:
With around 125 million English speakers (which is barely 10% of Indian Population) India is the second-largest (second only to the US) English speaking country in the world. This is also one of the major reasons why India remains the 1st choice for offshore software development.
#10. Focus on Your Core Business:
By choosing an outsourced product development partner in India, you can focus on your core business activities such as marketing, finding investors or branding your business. By outsourcing the product development process you also get ample time to focus on your competitors and other core business to ensure reduce your product to market time and achieve better ROI.