Unlocking Cost Savings With Remote Developers: How It Transformed SuperFi’s Budget

Mukesh Ram

Summary

Employing remote developers presents substantial financial advantages for businesses. This approach significantly reduces overhead costs associated with traditional in-house teams, including office space, utilities, and equipment expenses.

Remote work allows access to a global talent pool, enabling the recruitment of skilled professionals from regions with lower living costs, thereby reducing salary demands. Moreover, the scalability of remote teams facilitates flexible staffing solutions, enabling companies to adjust resources based on project requirements without the constraints of physical office limitations.

By embracing remote developers, businesses capitalize on cost savings, increased productivity, and access to specialized skills, fostering an efficient and financially sustainable work environment.

Introduction

Hiring remote developers offers a range of benefits beyond cost savings. Most businesses have their main choices when it comes to developing their software solution. These are in-house development, outsourcing, or freelancing. If you are concerned about the cost of producing the software solution, then the in-house option is most certainly not for you.

On the other hand, if you are looking for reliable developers and high-quality work, it is best to hire a remote team from a professional software development agency.

As a business, you have the option for either IT staff augmentation or project outsourcing. These are similar models, and both involve hiring remote developers, but there is a subtle difference. This article explains more about the benefits to hire remote developer and how it will help you save more.

What is a Remote Developer?

When you hire remote developer it typically means having a dedicated professional to work on your project; one who is an employee of a software development firm. They will ideally have access to extensive resources and a large pool of skilled professionals.

It gives your business access to global talent, experts in the field, and a highly resourceful team. This is one of the best options when it comes to cost-saving and scalability. This way, you eliminate the additional overheads of developing top-notch software. It is also easier to scale and maintain.

Here are statistics and facts pertaining to remote development:

  • IT outsourcing will rise to approximately $395 Billion in 2022 (Statista)
  • The global outsourcing market in 2019 was worth $92.5 Billion. (Statista)
  • Global outsourcing is expected to reach $971.2 Billion by the end of 2023.
  • The outsourcing ROI is greater than that with in-house development

Benefits To Hire Remote Developer

Remote development is the future of software development. Businesses have been taking advantage of offshore software development agencies for high-quality and low-cost solutions for a very long time. With the exponential rise in the use of computers and mobile devices, this is on the rise.

There are many advantages of outsourcing your software development requirements:

  • Access to Global Talent: Allows one to tap into a global talent pool and access specialized expertise that might not be available locally. This way, you can overcome location constraints to hire the best talent regardless of geographical boundaries. This is ideal for highly complex and large projects.
  • Cost Savings: There are no overheads of having to invest in the infrastructure, equipment, or software license. Instead of paying a steady salary to the expert team of developers they hire they are simply paying for the project they hire the remote to develop. By choosing to hire remote developers from India, you can save more on your software development costs.
  • Increased Productivity: Developers working in different time zones can ensure around-the-clock productivity and faster turnaround times. The company can focus on its core business matters and leave the software development to experts. With all the necessary resources and a highly talented pool of professionals, the productivity tends to be high.
  • Scalability and Flexibility: Scale the development team up or down as per project needs is as simple as increasing or decreasing the number of remote developers you hire. This also means you will have a team that can quickly adapt to the changing project requirements or market demands. With the ability to dynamically shape the organization, a business can save to a great extent.
  • Quality of Work: Remote teams bring diverse perspectives, leading to innovative solutions and improved problem-solving. Remote developers often focus more on output and deliverables, enhancing productivity. With access to a large pool of talented professionals and resources, you are assured of high-quality software solutions. Remote developers usually do not face issues such that they lack skill or resources to complete a task.
  • Reduced Overhead and Administrative Tasks: Fewer administrative tasks associated with managing an in-house team allow more focus on core business tasks. Remote work often involves streamlined processes, leading to increased efficiency in workflows.
  • Time-saving: When you hire specialists with ample resources and talent, the development time is significantly reduced. At the same time, the in-house team takes additional time to set up and it is harder to manage a large project.
  • Security: If you hire developer it ****means trusting them with sensitive data. However, with a legal agreement in place, like an NDA, you can be sure that your data is secure.
  • Team augmentation: For a business with an existing team, this is a good way to augment their team with experts who have special skills or provide additional resources for the projects at hand.

How SuperFi Saved By Outsourcing?

As per several surveys online, credit card debt is a common issue. The average credit card debt per household in the UK is over 2000 pounds. This was the basis for SuperFi Finance’s project, which was to solve the common problem of credit card debt.

SuperFi Finance’s idea was to help such users manage their debt better. They chose to outsource the software development to Acquaint Softtech as they had already done in the past.

Acquaint Softtech was involved with this project from the very beginning. We developed the business plan, designed the KPI, and also the project roadmap. Our approach was to create an MVP first to get their solution to the market fast. We are currently working on a full-fledged software solution as well.

Like every other business, SuperFi had several options to develop their project. However, they opted against doing it in-house and hiring a freelancer. Instead, they chose to outsource it to a software development firm (Acquaint Softtech) to gain access to a top-notch team of experts and, at the same time, benefit from lower development time, low cost, higher flexibility, and the ability to scale without any issue.

SuperFi Finance hired a team of pre-vetted remote developers from Acquaint Softtech, and we did not disappoint them. We provided them with a cutting-edge software solution, which was well accepted as well. Thus, outsourcing worked out to be a very good choice for SuperFi; they saved over $60k by eliminating the overhead cost of setting up an in-house team. Besides this they have a reliable and highly skilled team on their side in the form of expert developers at Acquaint Softtech.

Hire a Remote Developer To Unlock The Saving

Businesses face several challenges while attempting to develop competitive software. Some of the common issues include the problem of finding the right talent, lack of availability, and high cost. The secret to low-cost and high-quality software solutions is to hire a remote developer.

There are many reasons it results in cost savings. It eliminates the need to invest in additional office space, equipment, software licenses, and more. Additionally, it also means you do not need to spend on health insurance and a periodic salary.

Transform Your Budget With Acquaint Softtech

Make the right decision to fulfill your software development requirements. Acquaint Softtech is a well-established software development firm with a pool of talented professionals and all the necessary resources to help transform your ideas into real-world solutions and that too at an affordable rate.

By capitalizing on these advantages, businesses can optimize operations, access specialized skills, and focus on strategic growth, ultimately contributing to their success in a competitive landscape.

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