What is outsourcing ?

The internet changed completely the way we work and communicate. Do you want a software program ? No need to build your own software development firm, you can outsource the work!

What is outsourcing ? Outsourcing is a business practice in which services or job functions are farmed out to a third party. In information technology, an outsourcing initiative with a technology provider can involve a range of operations, from the entirety of the IT function to discrete, easily defined components, such as disaster recovery, network services, software development or QA testing. Companies may choose to outsource IT services onshore (within their own country), nearshore (to a neighboring country or one in the same time zone), or offshore (to a more distant country). Nearshore and offshore outsourcing have traditionally been pursued to save costs.

Outsourcing allows operations that have seasonal or cyclical demands to bring in additional resources when they’re necessary. The outsourcing company can then be released when things slow down again. Example: You might have an accounting department that is shorthanded during tax season and auditing periods. Outsourcing these functions can provide the additional resources you need for a fixed period of time at a consistent cost.

One of the primary reasons why a business may want to outsource a task is when it requires skilled expertise. To allow you to focus on your core mission in providing a high quality product and service to your customer offshoring the task to people who can perform it better makes sense. Workload increases with additional non-core functions and the quality of your core activities suffers as your business grows. Outsourcing in such scenario to a third party plays an important role by allowing your key resources to focus on primary business tasks.

Apart from the cost advantage, the other much touted benefit has to do with the time zone differential between your country and the location you are outsourcing to. Get your job done while you are closed for the day and wake up to your service being delivered the next morning. This unique advantage gives you the benefit of round-the-clock business operations. Make your service offerings better with high quality deliverables and decrease the lead time it takes for your product to reach the marketplace. Thus you would be faster in getting your ideas converted into products and better at delivering the value-added proposition.

Our specialists can support your AI engine with Supervised, Unsupervised and Reinforcement Learning models. We plan, build and deploy working Machine Learning packages which will meet your business needs. We build the world’s most exciting blockchain and cryptocurrency projects by implementing the mechanisms necessary to either run your own blockchain or build your business logic on top of smart-contracts, pre or post ICO. See extra info on Outsourcing Services.

CodeCoda is an innovative global IT and BPO services, solutions and Advanced Software Development provider, in one of the fastest growing industries worldwide. We were founded by IT Veterans to provide a stable way of working for themselves and being true to their understanding about true customer dedication and technical excellence. Headquartered in Dublin, Ireland and with a production facility in Plovdiv, Bulgaria, CodeCoda provides reliable IT Outsourcing services in a variety of high-tech technologies, ranging from AI to Custom Web Development. We operate on a global scale, and work with Small and Medium size companies up to Fortune 500 enterprises, ranging over a variety of industries, normally on contracts that last longer than a year.

With Fintech it’s all about developing innovative and prototype solutions like wallets, crypto applications or applications that allow customers to undertake financial transactions. With Fintech, we know, you sometimes have the ideas and the knowledge, but not necessarily the skills and resources to build the applications you envision to serve your specific market segment. It makes perfect sense to outsource the development of those solutions to a team of experts in the field, and in parallel safe money and time. Our digital experts can analyse and build your custom solution, while at the same time making sure your business stays at the latest stage of technological advancements. Need to apply AI to cover risk? Need BigData Data Warehousing solutions to cover millions of customers? We have a solution for your problem at hand. All conveniently in-house!

Source: https://codecoda.com/en