Working with people is one of the most challenging elements of any project. Agreeing, discussing a solution, and organising the implementation is a laborious process,which is why so many businesses apply to outsourcing companies for help. Today, outsourcing product development is widespread. As a rule an enterprise opts for outsourced product development for any or all of these reasons;
- To acquire expertise that isn’t currently available. Outsourcing provides you with a team of experienced professionals with the proper knowledge to develop a product to your exact specifications. Building an internal development team would require full-time focus from management, leaving little time left over to concentrate on core activities.
- To manage costs. Outsourcing helps minimize the costs involved in product development, including employee costs like salary, taxes, benefits, overhead expenditure on office space, desks, computers, training, software and hardware tools, supporting costs for information systems, management, human resources payroll and more.
- To manage risk. You face lower levels of financial and operational risk simply because your investment in infrastructure is less. You avoid risk costs such as downsizing, severance pay, legal support, and more.
- To be in control. You have full access to the process monitoring tools and can check what’s happening at any time. And you have the final say in all the project’s key points.
- To save time. You have more time at your disposal to focus on other core activities like marketing and sales.
- To enjoy flexibility. Since you don’t own the engineering team, you can quickly downsize or close the project anytime.