Competing in a digital world: Outsourcing in Vietnam
To stay competitive in today’s marketplace, companies of all sizes are investing in custom software solutions to increase efficiency and productivity, launch new business units, and increase innovation.
Whether you are a small business owner or heading multiple businesses, there would always be a number of activities going on every time. It could be a challenge to handle too many things at once and not let work become chaotic.
This is why it makes sense for businesses to use a custom software solution to get things done, predict risks, and improve overall efficiency.
But how much does it cost to develop a custom software solution?
Should you hire a freelancer or a local small software consultancy?
Or maybe you should take the “safe” route and hire one of the giants in software development industries like Microsoft, Oracle, or IBM. But can your business afford their sky-high hourly rates?
These are the most popular questions that every business struggle in finding a solution for their needs, which is why we created the following guide to help you understand why outsourcing or offshoring in Vietnam is your right choice.
The Three Different Competitive Edge Of Outsourcing in Vietnam
Unlike most other countries, according to South China Morning Post, Vietnam is considered to be the Southeast Asia’s Silicon Valley.
Due to the booming start-up culture, international investments, and a young, educated workforce drive a growing economy and IT innovation in Vietnam, there’s a wide variety of professional custom software development companies growing, and a lot of variability in pricing for the business’s needs.
According to PCMAG, in 2015, there are at least 14,000 IT businesses spanning hardware, software, and digital content in Vietnam.
Along with Vietnam’s exponential growth in the technology industry, companies in Vietnam that specialize in provide outsourcing software development for foreign regions such as America, Europe, Asia, etc. can deliver outstanding results as well as cost-efficient for your investment.
As stated by VNIT Alliance, comparing to other regions such as America, Europe, etc., it is estimated that companies can save up to 80% in cost savings from outsourcing software solution in Vietnam due to the typical partner rates for outsourcing in Vietnam is between $26 – $37 per hour.
By freeing up financial resources from outsourcing in Vietnam, it can be a lifesaver to boost your company to be more productive.
Direct savings are made by the cost difference in salaries, benefits, and operational expenses in most Western countries and offshore destinations like India and the Philippines.
Efficient quality and process
Due to the education system in Vietnam is excellent, with a focus on study in mathematics and technologies that support the IT industry and many Vietnamese ex-pats previously worked as programmers and engineers in western countries, outsourcing in Vietnam can produce high-quality as well as a practical solution for your needs.
Plus, from years of experience in outsourcing, Vietnam outsourcing companies are efficient in setting up large-scale production systems that conform to standard rules and procedures.
In short, we are accustomed to doing tasks that require thorough accuracy and precision.
Time zone coverage
Due to the workforce that willing to work outside of regular office hours, and indifferent shifts, outsourcing companies in Vietnam can cover time zones and offering 24/7 operations.
For business process outsourcing, your local team can turn-over unfinished tasks to the outsourcing team in Vietnam, so there is continuous workflow until the project is done.
Outsourcing your business operations in Vietnam
Based on a report by VNITO, the Vietnamese’s IT service workforce has grown exponentially from 104,000 workers in 2009 to 184,959 workers in 2015. Plus, according to a report by Statista, the global market for outsourced services has grown steadily and strongly from $45.6 billion USD in 2000 to $85.6 billion in 2018.
These figures indicate that software outsourcing in Vietnam continue to be a trend in the next coming years.
Additionally, foreign companies are more likely to hire third-party outsource service providers in Vietnam rather than establish their own wholly-owned affiliates or subsidiaries for their outsource operations.
An example of this is our company – Techvify – the Top-Tier Software Outsourcing Provider based in Hanoi, Vietnam.
Who are we?
Established in May 2018 to provide professional consulting and IT services to clients with the highly talented, international standard experienced engineers group in software development.
Techvify Vietnam contains a rare mix of domain, technology & project management experts, those experienced many years in Major Software Corporations in Japan, Singapore, and Vietnam, we bring the most complete team to bear on every project we take on.
Our strong sales & marketing presence across the globe gives us the ability to strengthen existing relationships, build new ones & enter new markets. For each and every market, we all have dedicated departments to serve our client’s project internationally.
Our mission is to deliver the best and most cost-effective software development offshoring, top-tier value innovated outsourcing solutions, and also punctuality to our customers by bridging the gap between business and technology. Contact us to learn more about how we can help your business to grow and expand.