Offshoring can be a hassle for many businesses, too. Businesses often hire employees in the destination country to oversee the process and ensure that everything is running smoothly. Reaching out to different people for a project can be difficult and costly, but it’s necessary to hire people who understand your business and the cultural aspects of the country where you wish to relocate your company.
The process of relocating your business unit to a different country where operating costs are lower is known as offshoring. It is one of the most effective ways to delegate the task to an outsourced team in a region where development is inexpensive and all of the client’s needs are met.
Over the past decade, the business has evolved tremendously, and more software, IT services, and product businesses are increasingly outsourcing projects to low-cost offshore teams. Many organizations that depend only on in-house expertise have profited from offshore their projects as a result of technical developments. Despite the fact that the method has a long history, entrepreneurs have lately realized that it is more productive and suits their budgets.
Nearly 54% of all firms now employ third-party assistance. Businesses will spend around $80 billion offshore in 2020-2021, according to ‘Statistica,’ and 78 percent of company owners have confidence in their offshoring partners. The reason for this is that you save time and money while also learning the skills you need to do the work more quickly and effectively.
What are some of the ways that outsourcing may help you save money and time?
Companies are currently outsourcing manufacturing to developing nations with skilled personnel which can offer cheaper rates for companies to make profits and at the same time exploit the workforce. In order to protect these workers, we need to provide them with better wages, improved working conditions, and an opportunity for upward mobility in the workforce by offshoring work to them. Because of their cheap product development costs, offshoring becomes much too economical in poor nations.
We cover all of your expenses.
You don’t have to pay for the infrastructure, resources, training programs, or equipment costs connected with forming a team since offshore teams operate in a foreign nation. The service provider handles everything, thereby, minimizing the total cost.
Recruitment in a short period of times
Offshore staffing firms can be costly and time-consuming. You have to invest a lot of time in interviews, screening resumes and going through piles of applications. Ever thought about outsourcing your offshore staffing needs to a professional firm? You’re in luck because we are the best offshore staffing company! We make everything easier for you. All you have to do is tell us what’s on your checklist for your dream team member — we’ll do the rest.
Most of the time, the service providers handle the recruiting of the offshore staff, which relieves you of the obligation of screening and hiring personnel. Team formation is also simpler and faster since they normally have some of their in-house experienced team members.
Professionals who have received training
Professionals in offshore models are often well-versed and may not even need the training to join. Furthermore, offshore provides access to a larger pool of talent from other countries, bringing fresh ideas and views to the table.
Tax and regulatory advantages
To entice international clients, developing nations often give tax reductions and cash incentives. It may benefit the offshore business since they will be relieved of additional tax costs that typically exceed the client’s budget.
At Prometteur Solutions, how does offshoring work?
When a client approaches us with a project, the first thing we do is schedule a series of meetings to thoroughly examine the scope of the project. After many discussions and analyses, the customer receives extensive paperwork outlining the types of needs that a team would require, such as job positions, KPIs, work hours, the number of current specialists, and so on.
Following the completion of these elements, the total cost is transparently documented and handed over to the client. You can then decide whether our model is appropriate for your company’s needs. If the client accepts the terms, the recruitment team is notified right away, and the process of forming a dedicated development team begins.
Through screening and recruitment, we form a dedicated team.
As soon as the client approves, the HR team gets to work screening in-house team members who are a perfect match for the required expertise. If a profile is lacking, the position is filled by recruiting from outside the company.
The applicant that is chosen must go through many rounds of testing so that Prometteur Solutions can confirm that the individual hired is highly competent and has domain-specific expertise. Similarly, the full team is built in two to three weeks, and individuals are taught specialised technology if the project requires it.
Finally, the complete team is onboarded, and we assist team members in obtaining the appropriate software licences and security controls throughout the process. The procedures are started when all of the hardware and software have been rechecked for effectiveness.
We start working on the product while keeping the customer informed.
The solution architect designs the product design and development begins as soon as the team has been educated in domain-specific expertise.
The customer is brought up to date on all developments and given the autonomy to direct the team to meet their needs. Furthermore, the client has complete control over the responsibilities of the members and may create or update the hierarchy as required. Interim conversations and frequent communication guarantee that the team stays on track, as well as assists customers in gauging and changing needs in the event of scope or feature changes.
This ensures that all necessary iterations are completed at the same time, rather than waiting for QA testing. We claim to offer promised items for the first time since the flaws are eradicated firsthand.
We offer full-service support and maintenance.
Our employees operate in accordance with our customers’ time zones. At Prometteur Solutions, we make sure that our clients have access to assistance 24 hours a day, seven days a week, and that once the product is online, our staff assists in maintaining it in accordance with the contract.
Aside from that, our staff does periodic inspections for new features that may be introduced to make the product more stable and seamless. As a result, our customers can count on us not just for technical assistance until the product is released, but also beyond. They take responsibility for the team and are able to look into every detail in order to acquire the greatest outcomes from our end.
Offshoring Models and how they work
Construct, operate, and transfer
Build, operate, and transfer are the three main stages of this paradigm. The ‘build’ phase includes all R&D as well as resource recruiting. The service provider handles everything from headcount planning through resource screening, recruiting, training, onboarding, and infrastructure requirements. The customer, on the other hand, has entire control over the operations. Prometteur gives you the ability to create the hierarchy as you see fit so that you may acquire the greatest product on the market.
The operation phase denotes the start of the development process, which includes coding, product upgrades and administration, as well as maintenance and support. Technical and marketing consulting, payroll administration and HR tasks are all happening at the same time.
When you are ready to start a local business, we will send you a whole staff at a set price. You keep track of your team and product knowledge at all times. We can also help you register your business, find an office, and set up procedures.
Clients with long-term projects where needs change often and the scope of work is uncertain, as well as shifting workloads of the development team, benefit from the time and material approach. This approach provides the customer complete control over the project by allowing them to amend or alter the project specs at any moment. Furthermore, when the project’s needs change, the team size and resources given to it may be quickly altered, saving both time and money.
Advantages of hourly / time and material billing
- This paradigm works well for massive, long-term projects with an unexpected final outcome.
- Clients and service providers both benefit from this low-risk paradigm.
- The budget is usually flexible, and there is minimal danger of failure.
- The client has considerable influence over the project, as well as any on-demand improvements made throughout the project.
- Project completion dates might be flexible or indeterminate.
- Because of unforeseen changes that may affect the total development cost, the estimated budget may differ from the final budget.
- The client has the power to make modifications or to oversee the whole development process.
Deadlines that are not known.
Any project feature additions might have a direct influence on the product’s time to market.
The budget is not specified.
Because of the unpredictability of the time necessary to develop and deploy features, the project price under this approach is always provisional. Product owners are often responsible for all iterations as well as the development process. The client loses both the developers and the expertise of product development.
Model with a Fixed Price
For short-term projects with specific and well-documented requirements, fixed-price outsourcing is ideal. It has a defined scope and project requirements, as well as a fixed delivery timeline and budget. The offshore firm may give a schedule and an anticipated price based on the project scope and complexity when the customer provides a time frame and a specific set of requirements for the final product that is unlikely to alter during the project.
During the conversation, development steps are defined, and the process is followed using a waterfall approach. Furthermore, although this engagement approach does not need client oversight, it does imply certain scope-related risks for both sides, since any deviations from the initial plan would result in extra costs.
- Good for small and mid-sized projects with well-defined needs and outputs from the outset.
- Prior to the commencement of the project, the cost and timeline are carefully established.
- Because the service providers manage end-to-end development and deliverables, the customer requires very minimal monitoring.
- There is little chance of losing money since the payment conditions are clearly established.
- Planning and documenting each step or necessity is a lengthy procedure.
- Focus on completing the agreed-upon scope of work, not on producing a superior result.
- There is a good chance you will have a product that does not fit the market.
- It is very difficult to make adjustments to a project once it has started, both during and after it is completed.
- In terms of handling extra features and modification requests, there is less flexibility.
- Client control is limited because the company handles the entire development process.