IT has extended its roots from the tech industries to every other industry. To reach all its target market, every business relies on IT in one way or another and different mannerisms such as by using websites, mobile apps, etc.. With developments in IT rapidly taking over most activities worldwide, computer technology is becoming a crucial part of the economy.
Outsourcing involves contracting a business process or a portion of work to another party. Sometimes, it entails the transfer of employees and assets from one firm or company to another. Outsourcing can be done by companies which lack a complete set of specialists in creating a piece of technology, have its core expertise in something other than tech, amongst other reasons.
Money and outsourcing
To solely reduce costs incurred in energy, taxes, government regulations, and production. The companies, therefore, saved the money that they would have otherwise used to rent office space and pay a large management team. Outsourcing from other countries such as India and China also proved to be less expensive.
However, outsourcing is no longer a money-saving tool alone; it is the best way to bring in more skilled people who possess a level of expertise that many companies are seeking.
The risk associated with this is that companies are entrusting software development projects to entities in another side of the world; people they do not know. No matter the brilliance of these entities, it is a risky move.
Eastern Europe on a spotlight
Eastern European countries, with Ukraine topping the list, are becoming more popular as a software outsourcing destination. China and India are also among the primary destination. Over the past five years, Ukraine has offered many advantages hence standing out as an outsourcing destination. Ukraine has more than a thousand IT outsourcing vendors who offer many types of software services. Some of the services they offer include software development, testing, mobile design, among others.
In 2016, a research done by PwC in collaboration with European Business Association showed that human capital in the Ukrainian IT industry has doubled in size and increased by approximately 20%. Moe than 90,000 technology specialists are now in the game, 13 software developers either have R&D offices in Ukraine or are purely IT firms and Ukraine ranks 24th in the global outsourcing ranking.
A talented pool in a conducive environment
Bloomberg found that Ukraine is one of the 50 most innovative economies worldwide. It has research exceeding 100 and development centers for global tech giants such as Ericsson, Siemens, Oracle, and Ubisoft.
Ukraine is similar to the western countries in work ethics, a kindred spirit, openness to challenges and readiness to overcome obstacles. In addition, the English levels of most Ukrainian tech workers are more than 80%.
Both physical and legal safety is a matterof concern which influences the decision to outsource to Ukraine. In spite ofthe news about the crisis in Ukraine, the nation is both safe and stable andthe law there ensures the protection of intellectual property.
All things considered, outsourcing to Ukraine is smart and the IT industry there has a great deal to offer.