Benefits of Outsourcing Software Development for Various Industries

Chapter247 Infotech
  • Date Published
  • Categories Blog
  • Reading Time 4-Minute Read

Almost every Sector needs IT outsourcing services, but there are 6 major industries for whom software development outsourcing has become vital.

Today, every sector and every business needs software. Outsourced software has contributed immensely in automating unproductive tasks, accelerating sales through CRM and analytics and led to business growth. While every industry needs software outsourcing, there are six industries in particular, for whom software development outsourcing has yielded phenomenal results.

#1 Retail

Amid bankruptcies in 2019 and 2020 in the retail sectors, US-based retail stores — Wayfair and Chewy —  experienced record results. Wayfair reported two consecutive quarters of profits due to a surge in its online customers. Chewy, on the other hand, posted “record” net sales while its net customer count went up to 17.8 million. This was the result of using software outsourcing for customer acquisition.

How has software development outsourcing transformed retail?

  • Contactless digital wallets/apps like Apple Pay, Google Pay etc.
  • AI-powered customer analytics
  • Voice shopping with Alexa or Siri.
  • Augmented Reality (AR software) allows customers to virtually try products online
  • Customized retail stores for engaging customers

#2 E-commerce

The e-commerce industry faces challenges such as site crashes, late deliveries or faulty discount codes. Payment checkouts are important points in the purchase journey that need to be smooth. Software outsourcing enables currency integrations, banks/credit and debit cards, payment gateway integrations and payments routed through devices and borders.

E-commerce retailers often hire a software outsourcing company for handling and managing customer support, technical support and backend support.

How has IT outsourcing transformed e-commerce?

  • Online shopping, cart management, smooth checkouts, etc.
  • CRM and sales management software
  • Delivery/need fulfillment
  • Inventory management
  • Warehousing technology implementation
  • AI-enabled analytics that helps in predicting visitor behaviour
  • Customer support
  • Facilitating payment gateways such as Stripe, Razorpay, Amazonpay, PayPal, Payza etc.
  • Augmented Reality based software so customers can try products online

Since more customers are now spending time online, this can be a great opportunity for e-commerce retailers and online marketplaces to leverage software and delight their customers.

#3 Healthcare

Pandemic-induced panic compelled the healthcare sector to re-think its modes of providing services. Though telemedicine has been around for more than a decade, offshore software outsourcing has significantly aided the healthcare sector in recent times. In the first quarter of 2020 itself, the number of telehealth visits had increased by 50% in the United States. In fact, a report states that 69% of patients using telemedicine platforms were treated at home.

How has software development outsourcing transformed healthcare?

  • Telemedicine for contactless diagnosis
  • Cloud-based Electronic Health Record (EHR) systems
  • On-premise and cloud medical solutions
  • Practice management software for physicians
  • Ambulatory software
  • AI-enabled analytics
  • Enabling Interoperability

#4 Edtech

Edtech platforms today are handling online classrooms, student subscriptions, learning tools, questions and quizzes, student-tracking systems, evaluation tools among other things. Software outsourcing further enables the Edtech industry in a variety of ways including e-learning applications.

How has software development outsourcing transformed Edtech?

  • Subscription-based E-learning platforms
  • Technical support during online classrooms
  • Cataloging of educational content and its accessibility
  • Augmented Reality tools for student engagement
  • Using Machine Learning (ML) and Artificial Intelligence (AI) for handling quizzes, assignments, projects, group evaluation, individual analysis, lab experimentation, etc.
  • Multiple subscription packages
  • Student-centered tracking system for managing classes and tests

Some famous Edtech brands that have leverage software are Coursera, Teachable, UpGrad and Udemy.

#5 Travel

Despite a gloomy year in 2020, the travel industry is back to booming. The software helps resorts, hotels, travel agencies, etc to manage travel information, itineraries and search options for their customers. Travel apps also facilitate building itineraries and booking accommodation and transport.

How has software development outsourcing transformed travel?

  • Online itinerary builders for travelers
  • Travel blogs, magazines that inform people about destinations
  • Hotel and flight booking websites, apps and functionality
  • Minimized order processing cost
  • Controlled maintenance cost
  • Augmented Reality (AR) based apps that facilitate visiting places virtually

Travel agencies can increase their sales and revenue significantly by taking the help of a software outsourcing company.

#6 Crowdfunding

Crowdfunding platforms help non-profits and startups to arrange funds for their projects. Such platforms need features of an e-commerce portal for enabling donations.

How has software development outsourcing transformed crowdfunding?

  • Domain-based crowdfunding apps and portals
  • Donation-based or equity-based crowdfunding software
  • Donor support, reports and history of donation
  • Payment gateway integrations
  • Multilayer platforms with technical support
  • Multi-currency support

A crowdfunding platform owner is able to focus on increasing reach and funds by outsourcing its software to a third party.

IT software has effectively made day-to-day sales and operations seamless. By automating mundane tasks, businesses today can focus on strategy and growth.

If you dream of a business that’s constantly growing and pivoting, As an Outsourcing Software Development company Chapter247 Infotech is the best choice to fulfil all your IT Outsourcing needs.