How U.S. Businesses Can Benefit From Outsourcing to Greece
Businesses today continue to face many challenges. And if you’re looking for a one-word answer to those challenges, then that word is outsourcing. Since Globalization 3.0 (started around 2000 — present), outsourcing has become the go-to strategy for many companies. It helps them cut costs and reduce time-to-market in a world where technology is advancing at a remarkable speed.
By delegating mundane business tasks offshore, companies can also focus on their core competencies and reposition themselves.
Still, not all business decision-makers know how to exploit the full potential of outsourcing. Indeed, most of them don’t know the difference between cheap outsourcing and a smart one.
To outsource right, brands must understand outsourcing both as a business tool and a global strategy to help them stay relevant and competitive in the ever-growing market.
With the latest statistics indicating that the global outsourcing market is worth over $92 billion — and could grow to $98 billion by 2024 — it’s clear that businesses who don’t exploit this market are missing out big.
What is Software Outsourcing?
Software outsourcing refers to the act of contracting out or delegating software development services to a third-party. In its simplest form, software development outsourcing means that a business hires an external software development agency to carry out its programming projects or related-tasks instead of performing them in-house.
It can involve the relocation of people, assets, or business processes, which can be done either on-shore (within the country) or offshore (in a foreign country). However, for companies who want better costs but want to maintain high-quality, offshore outsourcing should be their top choice. Here are some reasons why.
But what does offshoring mean for businesses, and why is it a great addition to companies worldwide?
The Offshore Dimension: What It Means for Businesses
Many countries in developed markets have built their economies based on offshoring. As such, companies in these markets understand that to get solutions to their complex business challenges; they require the services of a highly-skilled workforce.
While they can get the required skilled labor locally, they also know that hiring in-house can sometimes be exorbitant. This is the case with most U.S. businesses. Consequently, outsourcing to other markets like Europe has become increasingly popular for companies looking for quality rather than quantity.
Sometimes, however, it’s not always about cutting costs. Finding the right people or team for your project is equally important. It allows you to explore foreign markets and meet fresh talents to do your projects.
Let’s look at some of the reasons why outsourcing in Europe can help businesses in the U.S.
Benefits of U.S. companies Outsourcing to Europe
The idea behind outsourcing is changing rapidly. Today, outsourcing is no longer just a practice of sub-contracting human resources from other countries. On the contrary, it’s becoming more and more about exploring efficient ways brands can complete critical projects and create global partnerships.
While countries such as India and the Philippines have gained traction among top outsourcing destinations worldwide, many others are emerging. They focus on providing quality-focused solutions giving global organizations numerous reasons for outsourcing. One such country is Greece.
Located in Southern Europe, Greece has become a hotbed for software development outsourcing among American and European businesses. Owing to tech-savvy demographic and cultural similarities, it has created a pool of well-developed IT industries offering quality development services that match those in first world countries. Today, most brands in the U.S. are continually looking at Greece as a potential offshore market for their projects.
Here’s a look at some of the top benefits of outsourcing to Greece:
The average salary of a software developer in the U.S. is $71,901 per year. That’s 3 to 4 times more than what an average software developer earns in Greece, which is about $18,550 a year. By sub-contracting offshore software developers, it means optimizing costs for your business without compromising on quality.
Access to highly skilled expertise
Greece boasts of abundant technical talent as the number of skilled and experienced software developers keeps on rising. This allows businesses in the U.S. to reach a technical workforce that may not be available locally.
While both Greece and the U.S. share various cultural differences, partnerships may benefit a big deal from the cultural overlap. Both are influenced by European civilizations that extend to technological advances and business approaches, making collaborations easier.
Offshore outsourcing to Greece gives companies an edge over local brands since they can run their functions round-the-clock, thanks to the time difference between your outsourcing vendor and your in-house team.
Better risk management
Outsourcing allows entrepreneurs to share risks with their outsourcing partners. Therefore, this reduces the burden of bearing business risks alone.
There are many advantages that businesses in the U.S. can gain with software outsourcing from Greece. However, seeking out an ideal outsourcing partner is crucial as it will give your company considerable benefits.
If you are looking for a reliable offshoring partner for your software development services, ncodify can help transform your business. With many years of international experience, this Greece-based consulting firm helps businesses find the right talent for their companies, define what their companies need to embrace the digital landscape, and design a realistic roadmap to achieve their business goals. What’s more, you get to enjoy high-quality software development services and at a lower price compared to most developed nations.
Feel free to get in touch and share your project queries with us.