Smart Tips to Outsource Product Development in 2021?

Congratulations! So you’ve finally landed a great project, an initiative that will help you multiply your revenue in the upcoming fiscal quarter!

The good news: The opportunity is great! Your organization has unlocked a pool of opportunities!

The bad news: You have no idea on how to take over such a huge task with limited pool of talents on your team.

What is we tell you there’s a solution? Outsourcing!

Outsourcing? Is it even a thing?

The year is 2021 and let’s just accept it; outsourcing projects is a thing now!

Over the last few years, outsourcing projects in the software development industry has experienced major scalability.

Software development has been an integral aspect of numerous businesses. Given the current working conditions over the cloud, running the business over online platforms via websites, web apps or a business portal.

Hence, with over 64% of businesses now outsourcing their entire development process, outsourcing product development is the next big thing.

Why Outsource Product Development?

If there’s one thing you can access via outsourcing, it’s expertise!

When you run an organization, you understand that it’s impossible to hire the top talents around all the different aspects of software development. Further, it’s not every day that your business receives the projects that need your entire workforce.

On the other hand, when you Outsource Product Development, you have access to top talents from around the globe that bring years of experience to the table. They build your company the best possible software without much intervention in the process.

If you are a small company, it becomes difficult to develop such expertise in-house. Plus, the costs of running operations with such a team can be an expensive affair. Therefore, to sustain such a serious uphill struggle, outsourcing is your answer.

Outsourcing development projects allows your organization to:

Enhance Product Quality
Save Time, Effort, and Expenses.
Streamlined Business Operations.
Access to Top Talents across the Globe.

How do I Outsource Product Development?

Well, there’s no real template to follow when you decide to outsource your product for development. However, there are a few steps which we think you should be aware of!

Step 1 — State your project requirements and aim

The first step to outsource is to mention your requirements clearly. First, it gives your development partner clarity of the final product that you want to develop. Second, it gives your development team a pathway to begin the development process.

Step 2 — Research and Reach for the best countries to outsource

You can either opt for a software development outsourcing partner inside the national boundaries ot reach for one in a neighbouring country or offshore. However, selecting the best option is not easy. To help you with the same, we’ve listed a few steps to follow in the following part.

Step 3 — Select the best outsourcing companies in your selected country

You can take help from tools like GoodFirms, Clutch, and Upwork to find credible outsourcing companies in a given region or country. Such tools provide you with information like:

Level of expertise
Reviews from reliable clients
Rates
Previous projects
Ratings and awards

Step 4 — List out your options and select the best one!

Based on ratings and reviews on Upwork, Clutch, and GoodFirms, it’s time to select one of the best options from the list.

Step 5 — Sign a contract

Once you’ve found the ideal partner, it’s time to discuss the type of outsourcing model and put it on a paper agreement. Here are some documents used in creating a contract:

SLA (service level agreement)
SOW (statement of work)
NDA (non-disclosure agreement)
SRS (software requirements specification)

Congratulations! Once you’ve signed the contract, it’s time to begin the development process.

It’s only after you’ve found a trustworthy development pattern, you can engage with the marketing of a fully-fledged mobile app or marketable website within your budget. Remember, choosing the right development partner solves half your problems, even before initiating the product development!

Takeaway tips: