Offshore development company
Many companies look up to Offshore development companies as there is real buzz about it these days, with big companies reporting increase in productivity in a lesser time by leveraging on talents miles away. This article will throw light on how to reach the potential Offshore vendor by analysing the process step by step.
What is an offshore development company?
It is a third-party company from a different country which is hired/empanelled by a client company to perform the technical work on behalf of them. These might include anything from simple coding to custom developments, web designing & development, mobile application development, software development and maintenance, testing services and so on.
Having understood the answer for “What is an offshore software development company?”, the next step is internal analysis to proceed further in the process.
Why to hire an Offshore software developer?
There are 10 key questions that are to be answered by the businesses in order to justify the choice to go in for offshoring their technological jobs:
- What are the strategic goals of the company? Which option, either in-house team or offshoring team helps achieve their mission and vision?
- What is the size and nature of the business? What kind of clients does the business cater to?
- Will hiring an in-house technical team solve the purpose? By what extent can the fixed expenses can go due to the hiring or empowering the in-house team? Are they scalable?
- Does the company possess the core competency to indigenously develop their technology products?
- What is the state of talent market in the country? How is the demand-supply trend? What is the pay scale of the tech pool?
- Does the company have budgets to hire and develop a team?
- Does the Goodwill of the company have the capacity to attract talents within?
- Does the business have time to make their technology products?
- Does the business have the infrastructure to build it?
- What phase of the business cycle are they in whether start up, expansion, peak or contraction?
Answering these questions will give businesses clarity on whether to go in for offshoring or not. Having answered the questions like -What is an offshore development company? Why to hire an Offshore Software Development company? Here is how to hire an Offshore Software Development Company.
Choose the Offshoring Country
It is important to choose the country first. Various metrics will have to be factored while choosing the country. They include cost of labour, availability of tech talent pool, Tax benefits offered by the country, infrastructure facility, English skills etc. Countries like India, Ukraine, Czech Republic, Russia, China, Indonesia, Philippines are an alluring destination for offshoring software development.
References and Testimonials
The management can spend their valuable time on strategic planning and implementation to achieve the desired business outcomes, while the offshore software development company can handle all their technology-related projects. They provide the benefit of time to the company.
Social Media sites
A lot of companies can be found on social media sites like Twitter, LinkedIn, Facebook. Searching for an offshore vendor partner is very easy since the company pages can be accessed and contacted in the social media sites. It takes us through the company profile, their projects, blogs, testimonials which can be used as assessing factors to pick the right vendor.
Web search- Business listings
A lot of business requirements can be found in the business listing pages that appear as a result of a web search. In that way it is easy to find an offshore company. For ex: A lot of B2B and B2C companies in India have done their business listing on local web directories like Quora, Sulekha.com, Just Dial, Yellow pages etc and global web directories like Google, Bing, Super Pages and so on.
The search results also display Business Ads that are relevant. Companies
promote their professional services on online advertising platforms like Google Ads, LinkedIn
Ads, Facebook Ads etc which helps the potential client find the right offshoring company.
Having shortlisted the Offshore Companies in a country, here are some tips for selecting the right vendor partner from the shortlisted companies. Check for minute details that reflect the performance, work culture, Human capital management of the company, it helps mitigate the risk of selecting a wrong partner.
- Key indicators like Market share and market ranking
- Licenses, Registrations and Permits
- Goodwill of the company
- Mission and vision statements, Quality policy
- Customer reviews
- Details on stability of the company during economic difficulty and market upheaval
- Relative strength in the Industry
- Management of the Company
- Employee feedback on the company on public forums and discussion threads
- If it’s a listed company, what is their stock market performance?
- Accolades and awards
- Project track records
- List of clients
- Media posts, appearances
- Relationship with Government Agencies
- Relationship with other stakeholders like suppliers, unions, shareholders etc
- Competitor Analysis
- Social Media Pages of the company
Get in touch with KMTEQ to start with your Offshore software development project today.