Although the IT industry is skyrocketing, finding serious tech experts has never been more difficult, especially if the search is limited to a certain geographical area. A PwC report claims that 39% of CEOs describe attracting digital talents as “somewhat difficult“.
A question arises—should you build an in-house team or hire a remote tech partner? If you decide to build your own team for your Fintech platform, for example, you’ll need a lot of people from different backgrounds. Frontend, backend, project management, testing, DevOps, and UX/UI are only some of the profiles you’ll have to include in your development team.
Now, it’s time to hire. To interview. And, to train your new employees. Can you imagine how long is this all going to last?
On the other hand, if you decide to hire a remote tech partner, you’ll have an established and experienced team working on your project. They will give you the exact estimation of the time and resources needed for your project, taking care of everything related to software development.
Having a tech partner releases you from the obligation to look for local people to fill in the open IT positions in your company. This way, your talent pool suddenly increases, giving you the chance to get real experts to work on your tech product. After all, tech products don’t depend on the location, they depend on quality and innovation.
This trend has been very popular with businesses all over the world. In fact, 78% feel positive about their distributed partners.
Here’s why you should consider getting a remote tech partner for your app:
The IT force is the most expensive one and cutting costs is significant for all companies. Especially for startups, where every coin is important.
The first cost you reduce is the one for renting an office space. This can be a huge deal for companies with offices in big cities where renting office space is quite expensive. According to CBRE, Hong Kong, New York, Los Angeles, and London are among the top 10 cities with the most expensive real estate. Moreover, the same cities are also among the most expensive cities in the world.
On average, businesses save around $11,000 per person per year by making them remote workers. The US is the most expensive country to hire someone. Only hiring a full-time employee can cost a company around $3,500 in turnover costs. According to Joe Hadzima, a columnist for the Boston Business Journal and lecturer at MIT’s Sloan School of Management, “the salary plus benefits package for a $50,000/year employee could equal $62,500 to $70,000,” with all the perks like a gym membership, life insurance, dental plan, and tuition reimbursement included. These costs could be seriously reduced when hiring an employee from countries with lower costs and taxes.
Not every skill and technology can be in-house. With a remote tech partner, companies get access to a skilled team, going way beyond their own technical capabilities. They basically add a large skill set into their possibilities, without going through the efforts of actually acquiring it.
The tech know-how and the previous experience with similar projects like yours of your tech partner is a significant benefit. You’ll need project management with proven success in implementing the agile methodology, QA, frontend, backend, mobile app developers, etc. Instead of going through the long and exhausting hiring and training process, you have a team of experts who start working on your product right away.
Moreover, you don’t have to worry about HR management or administrative paperwork. You get a fully functional dedicated team with experience, ready to fulfil your requirements. In this safer journey, they’ll help and support you all the way.
Building an in-house tech team is a very long and complicated process. It can take months, even years. Finding the right people to hire is very difficult, and you certainly won’t identify them immediately. Moreover, you’ll also have to work on achieving a team atmosphere and solving interpersonal conflicts.
A remote tech partner has already completed this. They don’t require any additional guidance or training. They take care of the entire process, from development to deployment, and don’t need additional guidance.
Having a remote tech team means not having to spend time on resources and project management. As your tech partner is focused only on development, they provide you with a faster time-to-market, resulting in a competitive advantage for your app. You won’t depend on your own limited resources anymore. Instead, you’re the one setting the deadline that fits your schedule, with an experienced dev team dedicated to achieving your goals.
In a world full of harsh competition, you should always be focused on innovation and growth. However, you won’t be able to do this if you have to spend a lot of time-solving technical issues and coping with the development team.
Putting all these pain points into the hands of experienced experts will give you the time necessary to focus on your business. As you won’t have to deal with software development, you’ll be able to dedicate to strengthening your core business processes.
Furthermore, your in-house staff won’t have to complete tasks that are out of their skillset. They’ll be able to spend more time achieving strategic goals that are crucial to the success of your business.
This way, you’ll be able to streamline your business processes and get a product crafted according to their long-term strategy.
Developing a complex IT application takes a lot of time and effort. Not everyone can have an experienced in-house tech team that can respond to all their needs. This is when a remote tech partner can be crucial to success.
A remote tech team provides you with great flexibility. You’ll be able to take advantage of economies of scale, where you’ll reduce costs by increasing production.