Software development is one of the world’s fastest-growing industries, and Australia is at the forefront of this field. By hiring a software development company, you can increase productivity while saving on costs. The total value of the Australian software development companies was around $13 billion in 2020, and it has grown by 11.4% in the last 5-years. This growth is expected to continue with over a thousand technology providers in the market.
There is no room for error in the accelerating digital economy, where the learning curve to avoid getting the development wrong is short, and competitors are vying for customers. As a result, outsourcing the expertise, skills, and experience needed to run your software development project and achieve the digital transformation and growth you desire makes sense for a variety of reasons.
According to Cameron Woodford, CEO and Founder of Appello Software, the development of software outsourcing has become the new norm. “The business world is maintaining its vitality in order to generate more technological innovations at a breakneck pace.”
Software spending will continue to grow despite the uncertainty, with growth expected to increase to 11% in 2022, according to Forrester’s US Tech Market Outlook 2021.
“Most businesses recognize that software is a key instrument required to navigate market challenges and pivot quickly and are more likely to trust end-to-end software development partners in order to shape the future and accelerate innovation,” says Woodford. “A significant reduction in operational costs is another important reason to invest in a software partner.”
Setting up an in-house department can be costly, and it may even be inefficient for you due to high overhead rates that will only rise as an employee’s experience and expertise grow. Aside from that, there is a slew of additional costs associated with upgrading development tools, obtaining licenses, hiring specialists, etc.
Top 5 benefits of a software partner
Software development outsourcing has become a key competitive edge for organizations. According to the Mordor Intelligence forecasting, the global IT outsourcing market was worth USD 318.5 billion in 2020 and it is projected to reach USD 425.19 billion by 2026.
Outsourcing software development has become a key competitive advantage for businesses. The global IT outsourcing market was worth USD 318.5 billion in 2020, according to Mordor Intelligence forecasting, and it is expected to reach USD 425.19 billion by 2026.
With digital transformation happening across every industry sphere, from healthcare, finance, and education, companies are counting on the right technology to power their customer experience through creative custom web, mobile, and software applications that IT outsourcing can provide. Let’s look at the top reasons why outsourcing is a better option than in-house development.
Remote product development accelerated in 2021 due to one major factor: cost savings. Of course, the pandemic had a wide range of effects on businesses, but it hit them particularly hard financially. As a result, companies have turned to outsource software development to save money on hiring, onboarding, retention programs, and expanding their product development infrastructure.
In fact, according to the Deloitte 2020 survey, 70 percent of companies prioritize cost reduction when looking to partner with the right software development firm.
As a result, cost reduction is no longer a side effect of goals like gaining a competitive advantage, launching products faster, increasing agility, or improving user experience. Outsourcing has become one of the most important advantages for companies looking to develop software.
Diverse Expertise and Skills
One of the main reasons to hire a software development company for your project is to gain access to global talent. A large pool of resources, including designers, developers, project managers, QA experts, and others, with expertise in a wide range of skills and technologies that cannot be found on-premises altogether. These developers have experience working on multiple projects in a variety of industries, so they are well-equipped to navigate any size or type of project.
Most outsourcing software development companies now work with innovative technologies such as Artificial Intelligence (A)I, Machine Learning (ML), Internet of Things (IoT), cloud, blockchain, etc. As a result, they understand your business use case and match technology to your needs to drive innovation and positive outcomes.
Agility, Efficiency, and Quality
The agile development methodology goes a long way toward ensuring high-quality products. Software development companies operate in an agile software environment that encourages collaboration among businesses and cross-functional teams, resulting in increased efficiency and productivity in the delivery of high-quality results. There is consistent follow-up bug fixing and improvement for each production with continuous iteration.
As a result, the final product meets the client’s business requirements. Software development companies can assist in the establishment of a fail-safe process by using agile methodologies to ensure that terms and conditions in service level agreements (SLAs) are met while delivering the final product.
Competent Project Management
A custom software development company not only creates application code for your project but also collaborates with cross-functional teams and efficiently manages tasks within them. Business analysts gather client project requirements, study them thoroughly, make recommendations, and then create a technical document that defines the scope of work. The software development company holds project meetings with all team members to keep everyone informed about the project’s progress at each stage of development. Clients are also invited to meetings by project managers to discuss project progress and how they plan to meet deadlines.
You don’t need to hire a CTO or a specialized project manager to manage the development lifecycle if you work with a software development company like Appello. A dedicated project manager will be assigned to your project by the company, who will function as a liaison between the client and the development team.
A software development company provides all the IT support and maintenance services you require, allowing you to focus on your core competencies. Patches, upgrades, and modifications to the software are frequently required to scale it further and balance the load. Businesses sometimes run on complex legacy old architecture that required an upgrade to meet new demands. Choosing a software development company can assist your company in providing real-time system support and maintenance, as well as timely upgrades and migration activities. All these support procedures are conducted while ensuring that the best compliance management and cybersecurity measures are in place.
In today’s business environment, it is imperative to embrace digital at all costs to succeed. But what if the cost can be significantly reduced while still achieving incremental value in terms of competitive advantage, scalability, and a positive user experience? You can achieve all these advantages and more with software outsourcing, allowing you to accelerate innovation while focusing on your most important business objectives.
All you need is an Australian software development company if you want to grow your business and stay ahead of the competition. It allows you to cut costs while increasing productivity. Aside from that, you’ll have peace of mind and be able to focus on other important business tasks.
Choosing an outsourcing partner for your software needs is a smart way to get high-quality products at a lower cost and in less time. Contact Appello to get your software development done.