It may seem counterintuitive, but even technology companies themselves can benefit from outsourcing their software needs to a third-party vendor.
Companies around the world are looking for ways to streamline their operations, cut costs and improve their entire endeavors. This is always a desire of organizations, but with the COVID-19 pandemic it has become even more important.
Software – especially when it is outsourced – is an important part of achieving these goals. It can provide new ways to solve problems, create products, and achieve goals.
Almost every industry can somehow benefit from outsourcing software development. Which industries will reap the greatest rewards from such an agreement? Let's take a look.
#1 Software Outsourcing for the Healthcare Industry
There's no doubt: healthcare is one of — if not the — most important industries in the world. It's literally the business of keeping people alive and well. And given that it must always be at the forefront of innovation, as medicine becomes more complex, it goes hand in hand with software outsourcing.
Technology is constantly changing. Right now, for example, we are witnessing a high-stakes race to develop an effective vaccine to prevent and combat COVID-19 – while frontline healthcare workers employ a wide range of technologies to maintain health. keep themselves and their patients safe. Examples include artificial intelligence (AI) to detect febrile temperatures in patients, digital platforms to conduct telehealth care, the introduction of large-scale telemedicine, and more.
As funding and resources decline – while the need for services increases – healthcare facilities and professionals need reliable, efficient and cost-effective technology providers to quickly build the tools they need without sacrificing quality. Healthcare outsourcing development partners can meet these growing demands by employing fast and reliable solutions.
#2: Software Outsourcing for Finance
When finance and technology combined forces, the result was fintech. Fintech has massively improved the delivery of modern digital financial services through apps, chatbots and other electronic solutions. It has also made banking more accessible to many people around the world who do not have access to traditional banks or even bank accounts. It allowed these individuals to transfer money and secure loans more easily.
Financial institutions have already had great success in outsourcing projects to software development companies, especially those that provide Fintech development services, to create tools that make their customers' lives easier. And as this cross-section of two fields expands and improves further, the future holds much promise for even more impactful innovations.
#3: Software Outsourcing for the Retail Industry
The software has hugely empowered and boosted the retail industry. This is especially obvious during the pandemic, not only in terms of the fact that shoppers are increasingly turning to online solutions rather than physical stores, but also because it makes contactless ordering and payments much more viable. Some ways software has transformed the industry are:
- Augmented reality (AR) to allow customers to virtually try on clothes, check out what furniture would look like in their home, and assist with purchasing other items.
- Contactless payment apps and digital wallets like Apple Pay.
- AI-powered suggestions based on customer purchasing habits and trends.
- Voice shopping with assistants like Siri and Alexa.
Ultimately, retail experiences are increasingly personalized and influenced by emerging retail technology trends. And while many retail giants employ full-time software developers, small businesses can benefit greatly from outsourcing projects to improve the customer experience. Even larger companies may require outsourced assistance when introducing special products and innovations.
#4 Media and Entertainment Software Outsourcing
Almost every major newspaper and magazine – as well as many smaller ones – has an app. But the implications of software in the world of media go far beyond these simple applications that allow you to read the news in a digestible format. Streaming services like Netflix, for example, use machine learning to predict which shows users might like based on an algorithm.
The field is ripe for software outsourcing in television and film, print and digital journalism, publishing, recording and more.
#5: Software Outsourcing for Government and Public Sector
Local, state, and federal governments require comprehensive cybersecurity measures to protect sensitive data. They also seek to innovate and improve their jurisdictions, whether by making their areas “smart” through the Internet of Things (IoT) or spreading awareness through apps.
Technology drives the growth and development of communities. Because of this, governments around the world often turn to software development partners to help them improve the areas they lead and share their messages digitally.
#6 Transportation Software Outsourcing
Autonomous cars. Traffic management to improve road safety. Autopilots on aircraft. Improved navigation across the board. Reduced collisions.
These are just some of the ways software has improved the transportation industry. These innovations are completely transforming the way we move from one place to another. And outsourcing is playing an important role in this dramatic shift. Whether an industry player is looking to launch a new initiative or looking for an experienced authority to drive their transformation, a software development company can offer the outside perspective they need.
#7: Software Outsourcing for the Technology Industry
It may seem counterintuitive, but even technology companies themselves can benefit from outsourcing their software needs to an external vendor. Startups like Slack, GitHub, WhatsApp, Skype, and Alibaba are just a few of the many examples of companies that were built on outsourced development. Today, even tech giants like Google, Amazon, and Facebook continue to outsource software development for certain projects.
There may be a project that needs certain specialized skill sets, or perhaps the team is looking for an extra pair of hands to complete everything at hand. Whatever the circumstance, they will almost certainly be able to benefit from an outsourcing arrangement.
These aren't the only industries that are strong competitors to software outsourcing or IT staffing services – real estate, education, insurance and many other niches also frequently turn to third-party technology providers for innovative solutions. But the possibilities are endless for areas such as healthcare, government, finance and even technology itself – and could very possibly usher them into a new era and take them to a new level.
If you liked this article, be sure to check out some more articles about outsourcing.
- Why outsourcing is perfect for periods of economic uncertainty
- Software Outsourcing Models Demystified: Complete Guide
- Software and cloud services outsourcing: growing demands for scalable business solutions
- Successful Software Delivery: 5 Best Practices for Outsourcing Your Project
