3 Ways to Maximize the ROI of Outsourcing Software Development
Outsourcing software development can be an excellent way for your company to increase its output and offload time-consuming tasks without adding additional employees.
But to make the most of hiring a software development company to help with projects, companies need to determine why they’re looking for help in the first place. Is it to enhance a current development project or create a new one? Or perhaps your company may need short-term custom software development or long-term maintenance assistance.
If you’re considering collaborating with a nearshore software development company, here are three things you should do to maximize your return on investment.
1. Establish a clear project scope and set objectives
Erika Harrison, Director of Partner Success at Kibernum North America, said that one of the “fundamental strategies” for successful software development outsourcing is to have a clear project scope and well-defined objectives.
“This involves thorough planning and documentation of project requirements, timelines, and deliverables. The more precise your instructions are, the easier it becomes for the outsourcing partner to meet your expectations efficiently.”
That doesn’t mean you have to know everything ahead of time, but being able to communicate with your outsourcing partner precisely what you want to accomplish will help get the job done right and speed up the process.
“With access to a global talent pool and specialized expertise, outsourcing accelerates development cycles. This can lead to quicker time-to-market, allowing you to capitalize on opportunities sooner,” Harrison said.
2. Select the right outsourcing partner
Unsurprisingly, this may be one of the best ways to maximize your ROI when outsourcing software development. Hiring the right partner the first time means you’ll have the best possible outcome for your project every time.
“Look for a provider with a proven track record, relevant industry experience, and a team of skilled developers. Conduct due diligence by checking references portfolios and assessing their ability to align with your business goals,” Harrison said.
Harrison added that choosing the right outsourcing partner is “pivotal to the success of your project,” so don’t be shy about asking questions or inquiring about a potential partner’s list of clients.
“Outsourcing partners often specialize in specific technologies and industries,” Harrison said. When you find the right one, you can leverage their expertise and utilize innovative approaches you might not have access to with your internal tech team.
3. Utilize agile project management
After you’ve selected the right outsourcing partner and established clear objectives, your company should ensure the project’s management is agile and flexible to maximize your return on investment.
“Agile methodologies enable flexibility and adaptability throughout the development process, ensuring that your project stays on track, and changes can be made efficiently to meet evolving market needs,” Harrison said.
One way to do this is to find an outsourcing company offering scalability and flexibility. “Outsourcing allows companies to scale their tech operations up or down swiftly in response to market changes, ensuring agility in a rapidly evolving digital landscape,” Harrison added.
Outsource the work while maintaining control of the project
Many outsourcing companies have access to software development talent, but the best ones don’t just do the job; they work alongside your company and collaborate.
And that all begins with listening to each company’s unique needs through open and clear communication. “Establish open and transparent communication channels with your outsourcing partner,” Harrison said.
This may mean having regular meetings, viewing progress reports, and having feedback sessions to keep “everyone aligned and informed throughout the project’s lifecycle.”
With the right nearshore software development partner, you’ll ensure the work is being done while maintaining project control at every step.
Find out how Kibernum can help you with your software development needs. Our company has over 30 years of experience working on projects with the world’s largest corporations. Get in touch with us to find out how we can help you.
