IT Project Outsourcing: Product Development Approach

A nearshore IT project team working on a project

Outsourcing product development creates a win-win situation for the employer and the third party. It can also help all the stakeholders thrive due to high value and result-driven performance. Outsourcing has been a part of the IT industry for quite some time now and continues to grow rapidly.

According to the reports, the IT outsourcing industry stood at $246 billion in 2021 and is expected to touch $261 billion by the end of 2022. Outsourcing the team for your next product development project can be one of the most amazing decisions you ever make.

Outsourcing an IT team not only equips you with a more tech-savvy skill-set but also takes business managers’ minds off additional worries. The outsourced, remote team takes care of the entire project without making it a hassle for the business. They prefer managing administrative, financial, design, development, and testing phases. This way, their clients have more hold over their internal functions instead of crunching numbers for the new project.

If you’re looking for an adept IT development team, talk to Vates now. Learn more about our nearshore software services and Atlassian business development offerings. Our top-of-the-line IT consultancy and strategic planning team can curate an attainable and pragmatic tech project timeline for your business. With our carefully created custom software development team, we aim to offer you the best quality services in the region.

A man deciding the layout for a new application

When to Outsource an IT Team for New Product Development

Generating ideas, developing new products, and trying new technologies have become daily life challenges for new business owners. The increasing competition has left everyone worrying about gaining the perfect competitive advantage. While it’s no doubt that a cutting-edge offering can combat the aforementioned challenge, businesses need to be very careful about them.

When designing a new product or testing a new software idea, it’s imperative that you have access to professional assistance. Without the pros, businesses are unable to gauge the entire potential and possible pitfalls. Ultimately, they bear huge costs and lots of wasted billable hours.

Vates steps in as one of the most credible big data and custom software development firms. We offer a wide range of business technology solutions under one roof. Read what our experts say about the right time to outsource a nearshore IT project management team:

Lack of Skills and Resources

Firms, especially new to medium-sized businesses often don’t have an in-house IT or project management team. Meaning that they lack the necessary resources and skills to perform various project management activities. This is where an outsourced IT team comes into play.

A woman holding a touch tablet and pen

Not only it offers technical expertise like scanning, prototyping, product designing, QA and QC, and documenting but it also helps in safe data migration and code compliance. Hire Vates to take one step further toward the data-driven and digitalized business landscape. Our IT consulting, big data analytics, and IoT/IoB services will surely help your business flourish and expand its customer base.

Launching a Unique Product or Service

Note that not every kind of product is market-ready. Barriers to entry, economic conditions, and user acceptance are some key factors that play a pivotal role in new product development. An IT project management team can help you make your new product/service ready for an easy, smooth, and profitable market launch.

You must rely on professional software developers, IT consultants, strategic advisors, and big data experts when developing a product with market barriers. The most common hurdles firms face when rolling out new products include financial constraints, heavy regulations, and customer preference changes.

Having a hard time finding a professional software developer for your business? Vates has got you covered. Our team of software developers, application testing pros, and nearshore developers are ready to serve you with the best.

Vates has a strong, unparalleled, and highly qualified team with software developers, big data analytics, IoT, and IT services professionals. All of our team members are data lovers and enjoy working with it to ensure maximum service quality.

A software developer assessing the codes

What Kind of IT Services You Should Outsource for New Product Development Projects

Now that you know about the right time to outsource an IT project management team, let’s talk about what to outsource. According to 57% of the businesses in the US and Canada, outsourcing an IT service helps them invest more time in core business functions. You can, of course, choose a holistic, all-encompassing IT service suite for product development. But there’s also another option.

For example, at Vates, you can mix and match our various, high-end IT support tools and services such as Atlassian services, agile software development, software scaling, application testing, and more.

With our professional and proficient team of Information Technology, Artificial intelligence, Big Data, and software development experts, you can stay assured that your business will be in good hands. Check out our blog section to explore more interesting topics and business planning advice backed with technology and futuristic business tools.

Here are some more IT services that you can outsource to take your product development project to the next level:

  • MVP strategy-making
  • MVP development
  • MVP testing
  • MVP to EVP development
  • EVP quality assurance
  • Market launch planning
  • Product engineering
  • Scaling IT product architecture
  • Agile strategy making and consultation
  • Building web applications and custom software tools
  • Testing and improving existing applications and software systems

Traits to Look for in Your Nearshore IT Services Provider

Global IT spending is projected to double by the end of 2022. And outsourcing IT services is contributing a major chunk of revenue to the above figure. Outsourcing IT services delegates more complex, intricate tasks to professional teams who are better are managing industry-specific activities.

IT employees busy working in their office

However, the modern-day market’s cut-throat competition has led to easy market entry. More third-party IT services providers continue to pave their way into the industry. It not only makes existing firms feel challenged but also complicates the selection process for businesses.

According to our professional, nearshore IT consulting, support, and maintenance team at Vates, here are the top qualities you must look for in a service provider:

  • Cruise through their online presence. Look for referrals and reviews. Don’t just pay attention to positive reviews; take a closer look at what clients don’t like about them. Check whether or not they’re part of popular and credible directories such as the Clutch.

Fun Fact About Vates: Clutch UK has recognized our nearshore IT services company as the best B2B company in the region!

  • Next, ensure that your desired IT services provider possesses adequate technical competency. You don’t want to hand over your project to unqualified newbies. Check their website for more details or ask them about the tech stack they use. Don’t forget to learn about the technologies they’re familiar with.
  • A good, credible IT services provider not only mentions available services on their website. They increase client value by highlighting success stories, client testimonials, technologies used, and team intros. Explore our website to find all of this information under one roof! You can also head to our ExO Launchpad-related websiteto learn how we’re helping startups transform into industry-leading firms!
  • Ensure that your outsourcing company’s time zone, work model, and communication strategy align with yours. Vatesstrongly recommends firms hire nearshore IT companies to cut costs, eliminate cultural and time zone hurdles, increase collaboration, and limit language barriers.
  • Pricing is another important factor that should be a part of your decision-making process. A new product development project is expensive itself. So you don’t want to risk your bankroll by hiring a super expensive or non-flexible payment service.

Vates has a nearshore development team ready to tackle all sorts of complex to simple software design and development projects. Our IT consultants, project advisors, and software experts can test your business’s IT structure and suggest services for performance maximization. You can also talk to us about our cutting-edge agile software development services.

Vates—Your Ultimate Nearshore Development Services Provider in Chile, Atlanta, and Argentina!

As a leading big data consulting firm, Vates is here to help SMEs leap into the world of technology. Vates is focused on offering the most reliable and industry-leading custom software development, software testing, support and maintenance, and more.

Our team is well-versed and well-equipped in all kinds of software development techniques. We can offer you a custom-curated blend of IT, big data, IoT, IoB, and software integration services to maximize your firm’s reliance on technology.

We have an agile, competent, and highly expert software development and system integration team that can transform your startup into an ExO.

Explore our website today or contact us for more details.



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