The exclusive interview with Rushikesh Padh – Founder & CEO, Techno Impact “Top App Firms”.
In this exclusive interview, he shared his insights on outsourcing and several more things. Let’s check his success story and thoughts.
1. What are the different types of outsourcing?
Techno Impact pty ltd has 4 types of IT outsourcing models:
Time and material model
Dedicated development teams or resources
Offshore development centre
2. Why do you think companies outsource, what benefits does outsourcing provide them?
Saying that each of this IT outsourcing models variation has its own pros and cons would a whopping cliche. In general, software development outsourcing models are not the packages of the same service. You can get some perks by paying extra but still get the same base offering.
3. What would you say are the top risks of outsourcing?
Many companies fear that over time they would get so reliant on the outsourcing service provider that it would be almost impossible to switch to another vendor.
Sign an agreement that secures your ownership over your codebase and data.
Research how easy it is to find mobile app developers that use similar technologies. Calculate the cost of switching to another provider.
Insist on documenting the development process.
4. What challenges do companies face when outsourcing their call centre functions and how should they minimize risk to their core business?
Call centres have garnered a bad reputation as being particularly demanding when it comes to employee health concerns. Outsource2india has garnered a name for itself by providing value-added call centre services to global clients for over. To minimize the risk factor easy access to a talented resource pool, ease of setting up operations in tier 2 cities, cheaper services, greater sustainability, a better business environment, and many more.
5. What are the top 3 questions a company should ask a potential outsourcer?
Our team of software development and business experts will guide you on your way from the concept to the product ready for the market.
– You contact us, We follow up with you to explore your needs and give you the solution.
– Existed visualizes your ideas and requirements.
– We precisely collect your requirements to execute a business analysis and create a project mock-up.
– At the project planning stage, the System Requirements Specification Document is created
It is a must in time and material contracts. This is the document where all the specification and functionality is carefully described, as well as the cost, development timeline, each milestone, and its deliverables.
6. What industry sector outsources the most?
Nowadays, competition amongst businesses is tough and every business owner wants to get more growth by spending less amount. Many industries are getting benefits by outsourcing their business or the part of the business to get more progress with a minimum amount. Their businesses are handled by BPO partners.
The following are the most popular industries in my knowledge that commonly outsource their work.
Finance and Accounting BPO
Asset Management BPO
Digital Marketing BPO
Healthcare● Call Center Outsourcing
Human Resourcing (HR)
7. What are the top 5 reasons organizations outsource?
Lower costs (due to economies of scale or lower labour rates)
Increased focus on strategy/core competencies
Access to skills or resources
Increased flexibility to meet changing business and commercial conditions
8. What effects do legislation (e.g. DMA/FTC etc) have on the outsourcing industry and what are your views on this?
Service Level Agreements (SLAs) are agreements between customers (business process owners) and service providers (IT) which assure customers of the quality of a service
9. What challenges do offshore outsourcers face that domestic ones do not?
Access to innovation, intellectual property, and thought leadership
Language and cultural barriers
Time zone differences
10. What are the key drivers for companies to outsource offshore?
On-demand premium talent combined with managed leadership. These leaders have track records, provide quality results and act quickly. They are experienced Project Managers, CTOs, Architects, and expert Growth Hackers. These experienced leaders speak your language and are based out of the US or Australia. Having leaders helps keep your project transparent, on-time, and delivers high-quality results. This managed leadership lowers risk and guarantees success.
11. How have the campaigns and projects companies outsource changed over the last 5 years?
The tech talent shortage is the major long-lasting trend that has been fueling the IT outsourcing sector for the last decade. And the value of the IT outsourcing market is expected to grow by about 5% each year in the years 2020–2024, according to the Global Industry Analytics report. The statistics only confirm that the technical transformation efforts of online businesses will be aimed at making online shopping more convenient.
12. Do you feel that a client of an outsourcer should have unrestricted access to agents/reps working on their behalf and why do you believe this?
Choosing to outsource an area of your business means you’re hiring a third party to handle it on your behalf. First, you need to figure out the objective and the benefits of outsourcing your customer support. Among other things, providing good customer service is the hallmark of a good company.
13. What industry sectors tend to outsource more than others (e.g. financial services, utilities etc)
Technology stocks may be at or approaching valuation highs and greater regulation of the sector is likely The five most bullish industries planning significant increases with outsourcing Entertainment, media and publishing Software and Hi-Tech Energy & Chemicals Banks Insurance
14. What management and motivation challenges do outsourcing companies face with their staff
Cybersecurity, competition and order fulfilment are the top three challenges facing e-commerce businesses On your part, you must define your project scope:
Define the vision, scope, and expected outcomes for your software with Geoffrey Moore’s Elevator Test.
Identify the software features and functionalities based on your customers’ real-life problem and their burning need to get it solved.
Decide your budget, either budget depends on your scope and time or scope and time depend on your budget.
15. How can outsourcers and clients ensure a fair partnership agreement?
The parties can form a binding agreement by putting the relevant business terms on a piece of paper and signing it. However, that probably will be a pretty poor contract – many business terms, and almost all legal terms will be missing. If there ever is a dispute, the missing terms will result in significant uncertainty and any resulting litigation will be significantly more expensive.
16. What are the main advantages of using brokers when considering outsourcing some, or all, of your contact centre functions?
17. What would you say are the top 5 questions a company should ask a prospective outsourcer?
1)ARE YOUR CUSTOMERS SATISFIED?
2)COULD YOU SHOW ME SAMPLES OF PREVIOUS WORK, ESPECIALLY ONES
THAT ARE RELATED TO MY COMPANY?
3)HOW WILL YOU MANAGE THE PROJECT?
4)WHAT ARE THE CONTRACT DETAILS?
5)WHAT ARE YOUR SECURITY MEASURES?
18. What is the role of service standards when outsourcing?
The CTO is responsible for determining how technology can be used to implement the business strategy. This is the ‘technology visionary aspect of the role. But then subsequently, the CTO is responsible for actually integrating and running the technology,
19. What role do associations play in helping companies select and use outsourcing services?
As the name suggests, the clients pay the provider based on the time and material used to complete the work. Historically, this approach has been used in long-term application development and maintenance contracts.
20. Have you seen any trends in your area on the type of outsourcing companies that have established themselves in your area and what would you attribute this to?
Technology Outsourcing Trends We Should Expect in 2021. EMERGING OUTSOURCING TRENDS AI, IoT, and Robotic Process Automation-While there has been a constant growth in this sector, there have also been several new trends, which have emerged and stayed for the betterment of outsourcing. Also, 5G Network Will Cause Mass Disruption in 2021. Information technologies, telecom, and manufacturing are the top three digitized industries by the speed of 5G adoption.