Maximizing ROI: How to get the Most out of Your Software Development Partnership
Technology plays a crucial role in helping companies of all sizes achieve their goals and drive growth, especially in today’s fast-paced business landscape. As businesses endeavor to establish a strong online presence, expand their reach, and optimize their performance, partnering with the right software development company has become essential.
Before explaining the benefits of a software development partnership and what you should expect from it, it’s important to precisely define what a software development partner is.
What is a software development partner?
A software development partner is a collaborative professional or organization that supports a company with specific business objectives through outsourced IT services. These partners can offer assistance in various projects, such as developing an application or launching a new software product.
By contracting a software development partner, your company can delegate the technology aspect of your business to an experienced third party that is expected to deliver precise results.
IT outsourcing services in general are also getting more and more popular, in the background of the continuous acceleration of technological and digital advancements. Companies need to be relevant and keep up with this acceleration, hence they create a demand for IT outsourcing, including software development.
For example, in Deloitte’s Global Outsourcing Survey for 2019-2023, respondents were asked “How does your organization perceive the benefits of outsourcing?”. Their overall perception on outsourcing was positive, as 65% said outsourcing helps them focus on core functions, while 63% mentioned cost-cutting as a key benefit (see figure below).
Why is a software development partner a good choice for your business?
Whether your company requires digital transformation or you simply have an upcoming software project and you want to ensure its success, it is ideal to make sure you have a team of professionals with experience and expertise.
You will need to choose between creating an in-house software development team or finding a specialized software development company that deals strictly with this, such as LiftUp.
You could ask yourself at this point:
- Wouldn’t it be better to create a software development team in-house, rather than contracting a third party?
- Why should I spend time looking for a partner when I can solve this in-house?
- How can I be sure that the company in question would do its job properly?
- How can I be sure the contracted partner understands my company’s needs and objectives?
- Which option is more cost-effective?
Here are some reasons why partnering with a software development company might benefit your business:
1. You will gain access to the best professionals, IT tools, and resources
Achieving this by yourself might imply a serious time, financial, and HR investment. Rather than committing to all that effort, you could work with a software development partner accomplishing everything you set out to do, but in a cost-effective manner.
2. Gain a valuable, transparent, and objective perspective
One of the most valuable benefits of teaming up with a software development partner is their ability to provide a fresh, unbiased perspective on your project and ensure it is on the right track. They can objectively review and assess your plans, identifying potential risks that you may have overlooked.
3. Increased Return on Investment (ROI)
As you hand over the software development area to professionals specialized in the field, your financial and time costs will be lower, as well as the overall effort invested in this. You will no longer have to spend time establishing an in-house team, recruiting potential employees, or assigning them an induction period, and you will also cut salary, licensing, and implementation expenses.
Instead, you will simply hire a professional entity with people already experienced in the field, who are ready to help you and customize their services according to your requirements. In the longer term, these factors increase your ROI.
4. Save time & achieve fast results
The software development partner has the necessary skills and parts of the software development process already tried and tested, so you won’t spend any time on the basics. Meanwhile, your company can focus on its core operations while the partner handles your software needs. Building a good process takes a lot of trial and error which many companies cannot afford when working on a new product under a clear deadline.
There is also the experience aspect: a specialized partner has faced many challenges to which they already have a solution, while an internal team might waste a lot of time struggling with challenges they haven’t faced before.
You will also notice that it makes more sense to have a contractor, as doing it in-house takes much more time and needs too many resources to turn your vision into reality and implicitly launch the product fast. An experienced software development partner has a lot of tech knowledge and sharp skills which help him to design and develop good, reliable technology products.
5. Save money
Working with a partner also allows cost savings, as the expenses associated with the hiring process, induction and training, and ongoing payments or support are quite high.
An external contractor already has a team of experts put in place, so partnering with them can be much more cost-effective because it allows you to gain access to specialized expertise from the moment you agree to work together, while also reducing operational and labor expenses.
6. Enhanced service quality and precision & tailored support
Partnering with software development experts such as LiftUp means having access to trusted advisors with the necessary skills and experience to identify your business needs and offer you the best solutions.
They will also:
- use their abundant resources to ensure ongoing support to your company;
- make sure that the user experience is constantly improved;
- Make sure the processes run smoothly.
What to expect from a Software Development Partnership
1. Be ready to set, express and explain your needs & objectives
To better understand your needs and objectives, the software development partner will need to gather useful details from you, such as:
- A clear definition of your project: your needs, objectives, and expectations (what you want to achieve)
- Your target audience/ platforms etc.;
- Your available resources related to the project;
- Your business’ strengths and weaknesses, which might be important for the project.
Make sure you are ready to communicate this to the partner in a precise, organized manner. You should also verify if you have the right tools and procedures to support this smooth communication during the software development process.
2. Be prepared for close collaboration and frequent communication
Effective teamwork facilitates the course and development of the project. A good software development partner will frequently communicate with you, ask a lot of general and specific questions, and provide you with things like project phases and timelines, reports, or product tests.
3. Be ready to adapt throughout the process, make bold, unexpected decisions when it’s needed, and prepare for potential changes
While many projects go as planned, in some cases, particularly when working on innovative products or aiming for a unique approach, unforeseen needs, and challenges might arise along the way. Great software development partners will always be open about this and so should you. Be open to having honest talks and potential tweaks to the original plan.
By providing access to the best professionals, IT tools, and resources, your software development partner will help you gain a valuable, transparent, and objective perspective. They will help you increase ROI, save time, and optimize budgets.
Ultimately, partnering with a software development company can help your business stay relevant and achieve its objectives in today’s rapidly evolving business landscape where time is of the essence.
Focus on other important aspects of your business, and leave the technology aspect in the good hands of an experienced and trustworthy partner like us.