This week we’ve been taking a renewed look at the idea of nearshoring. Now it’s time to analyze the decision making process of CTOs and other senior executives – starting from the “why” a company decides to look for a partner. Then, moving on to the “where”, we will explore why Latin America has become the favorite place for companies to find a partner to help them grow their development capabilities.
The first step in every business executives decision-making process is to determine why they want to work with a service provider. What are the benefits and what are they trying to achieve? Typically at this stage, the executives do not yet have a clear decision about whether to choose an offshore, nearshore, or onshore partner – simply that they have some business need from an external partner. These needs can be distilled down into three main categories:
- Obtain in-demand skills
- Lower costs
- Business flexibility
In addition to these core reasons, we’re also seeing executives looking for help in navigating the ever increasing and complex technology and business environment. It’s becoming increasingly hard to have all the skills organizations need in-house, and thus it makes sense to work with partners who have this expertise. As organizations look to undergo a digital transformation, there is significant value in working with a partner who has experience with such transformation.
In the next step, executives typically analyse the diverse range of outsourcing options available to them. In addition to these key needs, there are also other factors that executives take into consideration. Especially with Agile development processes, it is important to consider the cultural fit of the partner to your organization, in order to create smooth connections and promote teamwork.
Why Latin America has become the most popular nearshore destination
Nearshoring has quickly become one of the most popular choices for executives, especially when you look at the added benefits of working with Latin America. With Latin American countries at less than a third of the distance of most Asian countries and without the jetlag that comes with traveling to Asia, it’s no surprise that traveling to Latin America is popular with executives.
In addition, Agile development and nearshore have become increasingly relevant and important for organizations during this time of digital disruption and transformation, especially because they, along with ideation and user experience activities require significant collaboration and communication between end-users, business-line executives, product designers and engineers – all of which are facilitated by the time overlap, but more importantly a culture where people would rather be very active and involved stakeholders in developing the product, where they know it’s OK and actually expected that they will contribute and even when needed be empowered and able to speak up and even push back when needed.
The final step: Choosing Belatrix
The final step in this process is choosing the right partner to help you meet your objectives. During this time of unparalleled change in the technology industry, executives want to work with providers that have a proven track record of delivering world class software development services and understand the enormous change that digital technologies represent – and very simply, that is what Belatrix provides. Check out the graphic below of some of the key reasons our clients say they choose to work with us. If you’d like to hear more about them and our software development capabilities, please do not hesitate to contact us.