Software Development Outsourcing is one of the most asked about topics that we get here at Engine Lab Software.
Businesses have product development needs that cannot be filled in-house for a variety of reasons:
1. Technical Know-how
2. Lack of funding
3. Speed to market
Software Development Outsourcing is a viable option for most businesses. It has many advantages & disadvantages which can be easily overcome. The big deciding factor is the culture & situation of the company.
Software Development Outsourcing is a good option if:
1. You want to get a product to market in order to perform customer validation – You’re not sure if your customers need your product yet and so there is no reason to hire an expensive internal team. This just gives you headaches & runway, neither of which you need at the early stages of a startup
2. You don’t have the expert knowledge in-house. It makes perfect sense to outsource your product development in this instance as hiring internal staff for specific product areas is more expensive in the long run.
3. If you already have a CTO or internal tech team, then there is little risk in outsourcing product development as the knowledge can easily be transferred in-house during the product development cycle.