Top Industries That Benefit from Software Outsourcing

It may sound counterintuitive, but even tech companies themselves can benefit from outsourcing their software needs to a third-party provider.
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Software Outsourcing Industry

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Businesses around the world are looking at ways to streamline their operations, cut costs, and improve their entire enterprises. This is always a desire for organizations, but in the wake of the COVID-19 pandemic, it has become even more paramount. 

Software —particularly when it is outsourced to a third party — is an important part of achieving these objectives. It can provide new ways to solve problems, create products, and achieve goals.

Nearly every sector can somehow benefit from outsourcing software development. Which industries will reap the greatest rewards from such an arrangement? Let’s take a look. 

 

Healthcare

No question about it: healthcare is one of the — if not the — most pivotal industries in the world. It’s the literal business of keeping people alive and well. And given how it must always be at the cutting-edge of innovation, as medicine becomes more complex, it goes hand-in-hand with software outsourcing.

The technology is ever-changing. Right now, for example, we’re witnessing a high-stakes race to develop an effective vaccine to prevent and combat COVID-19 — all while healthcare workers on the frontlines are employing a wide array of technologies to keep themselves and their patients safe. Examples include artificial intelligence (AI) to detect feverish temperatures in patients, digital platforms to conduct telehealthcare, and much more. 

With declining funds and resources — all while the need for services grows — healthcare facilities and professionals need reliable, efficient, and cost-effective technology providers to build the tools they need quickly without sacrificing quality. Outsourcing partners can meet these demands by employing fast, dependable solutions.

 

Finance

When finance and tech combined forces, the result was fintech. Fintech has vastly improved the delivery of modern, digital financial services through apps, chatbots, and other e-solutions. It has also made banking more accessible to the many people around the world who don’t have access to brick-and-mortar banks or even to banking accounts. It has allowed these individuals to more easily transfer money and secure loans.

Financial institutions have already had great success outsourcing projects to software development companies to create tools that make their clients’ lives easier. And as this cross-section of two fields expands and improves even more, the future holds a lot of promise for even more impactful innovations.

 

Retail

Software has greatly 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 as opposed to physical storefronts but also because it makes contactless ordering and payment that much more feasible. Some ways software has transformed the industry are:

  • Augmented reality (AR) to allow customers to virtually try on clothes, check how furniture would look like in their homes, and aid when shopping for other items. 
  • Contactless payment apps and digital wallets like Apple Pay. 
  • AI-powered suggestions based on a customer’s buying habits and trends.
  • Voice shopping with assistants like Siri and Alexa.

Ultimately, retail experiences are increasingly customized and customizable. And while many retail giants employ full-time software developments, smaller businesses can greatly benefit from outsourcing projects to improve their consumers’ experiences. Even larger companies may find themselves in need of outsourcing assistance when introducing special products and innovations.

 

Media

Nearly every major newspaper and magazine — as well as many smaller ones — has an app. But the implications of software in the media world extend far beyond these simple applications that allow you to read the news in a digestible format. Streaming services like Netflix, for example, uses machine learning to predict what shows users might like based on an algorithm.

The field is ripe for software outsourcing across television and film, print and digital journalism, publishing, recording, and much more. 

 

Government

Local, state, and federal governments all require extensive cybersecurity measures to protect sensitive data. They’re also looking to innovate and improve their jurisdictions, whether by making their areas “smart”  through the Internet of Things (IoT) or spreading awareness through apps.

Technology boosts the growth and development of communities. Because of this, governments around the world frequently turn to software development partners to help them improve the areas they lead and share their messages digitally.

 

Transportation

Self-driving cars. Traffic management to improve road safety. Auto-pilots in aircraft. Improved navigation across the board. Reduced collisions.

These are just a few of the ways software has improved the transportation industry. These innovations are entirely transforming the way we get from place to place. And outsourcing is playing a huge role in this dramatic overhaul. Whether a player in the industry is looking to kick off a new initiative or looking for an authority with the expertise to fuel their transformation, a software development company can offer that outside perspective they need.

 

Tech

It may sound counterintuitive, but even tech companies themselves can benefit from outsourcing their software needs to an outside provider. Once-startups like Slack, GitHub, WhatsApp, Skype, and Alibaba are just some of the many examples of companies that were built based on outsourced development. Today, even tech giants like Google, Amazon, and Facebook continue to outsource software development for certain projects.

There could be a project that needs certain specialized skill sets, or perhaps the team is looking for an extra set of hands to complete everything they have on their plate. Whatever the circumstance, they can almost certainly benefit from an outsourcing arrangement.

These aren’t the only industries that are strong contenders for software outsourcing — real estate, education, insurance, and many other niches often turn to third-party technology providers for innovative solutions, too. But the possibilities are endless for areas like healthcare, government, finance, and even tech itself — and they can quite possibly usher them into a new era and take them to a new level.

 

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