From time immemorial, Outsourcing has proved to be a successful way for many global tech giants. 10 to 15 years ago, IT outsourcing was one of the best ways to churn out extra costs savings for a company. This could be achieved by contracting jobs & software projects to low income countries and is still followed, although nowadays for different reasons. Back than the competition was also less, and companies enjoyed the freedom to hire employees from offshore countries for getting their job done at a low cost.
Today, software has become an integral part of every organization and each company wants to leverage benefits from it to stay competitive globally. We have always seen that technology evolves continuously - sometimes with major leaps forward - and so does businesses. In other words, technology is the cause which leads to disruptions in mainstream business. In 21st century corporates have certainly put efforts to bring change in their business and introduce digitalization in it.
Reasons why Software Development will be at peak in 2019 and continue to rise
Tech Investments for supporting Innovation
Tech investments are growing rapidly in every business, main reason being innovation. Today businesses are looking for solutions that can help in overcoming barriers in business expansion. Technology can be a fit answer to the above, in nearly all cases involving software. Whenever the traditional method becomes obsolete and outdated to support complex business functions there arises a need to bring a new solution. This continuous cycle leads to disruptions. A disruption which is fruitful for business.
Cloud Computing is the Future
There is nothing to worry about the word Digital Disruption because it happens all the time. It is an inevitable cycle just like nature, and it is happening faster than yesterday. In an article How important is Cloud Computing in Digital Transformation we have already discussed about the critical points on why cloud computing is important for businesses in today’s world. Everyone is running after Digital Transformation and embracing it would require adoption to cloud computing.
Booming Tech Startup Environment
Top Global Startup ecosystem have witnessed a tremendous growth in recent years in US, Europe and South Asian countries. Though we are used to thinking about the US predominantly the Silicon Valley, Seattle and New York. Tech Startups have now gone global. Though US leads in successful Tech Startups the Startup ecosystem of Europe particularly London, India (Bangalore) look very dynamic and poised for future growth. According to Nasscom China and India rank 2nd and 3rd largest Startup by unicorns.
Pic: NASSCOM’s report on India’s Rank in Global Tech Startup ecosystem
Tech Solutions improve Customer Service
Chatbots have revolutionized the customer service industry. Probably all tech company have introduced chatbots to a certain extent for managing customer communication. Customer service is seen as a value-added service by clients and chatbots are an integral part of it. Though it affected many employees but eventually created many new skilled jobs. Businesses that did not pay any attention to internet and explore the benefits of it had to face hard time competing present market leaders in today’s economy.
The best example here is Amazon, the world’s largest store which owns their success through their online shopping platform, Uber – world’s largest cab service giant does not own a single car. Isn’t that amazing? These companies take immense care for the customer service vertical because they are ruling the market majorly due to this reason.
Globalization
Yes of-course, a company cannot even think going global if they do not take leverage from technology. Software has the potential to improve business drastically. To take your business to next level, you need to work on your IT team. Sitting at New York one cannot just think of expanding their market to Asian countries if they do not look to tech solutions, software development or application development. Traditional marketing will become a thing of the past some day and online channels, B2C and B2B marketplaces are here to stay.
In our core business, global application development (offshore, Nearshore Software teams): One can find a high quality and fitting software service provider with a few clicks on our pliXos B2B Marketplace.
Sources:
- Forbes
- Global Sourcing Blog
Additional Read: Digitization & online B2B Channels
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