For decades, giant corporations have been assessing their outsourcing strategy — and beginning a countertrend of in-sourcing — in Vietnam, a critical industrial software industry with a global reputation. The addition of new in-sourcing operations does not usually indicate a decrease in outsourcing. However, as factors other than “least cost” grow more critical, organizations may use IT and social media marketing to stay up with demand, manage budgets, and enhance productivity. Once you’ve opted to outsource a team or a project, you must assess your requirements to estimate your budget. Yes, using an outsourcing company may help you save money, but like with anything worthwhile, you must put in some effort to enjoy the rewards.
We are, without a doubt, functioning in a digital age, where many businesses are forced to vary their outsourcing methods, particularly with modern technology. Vietnam has recognized the significant technological and innovation gap, and many businesses have engaged at least one IT offshore programmer to make outsourcing in Vietnam even easier. The most excellent way for businesses to thrive is to regularly shift into something completely different. Companies might obtain the possibility to develop their manufacturing method by undergoing ongoing change.
Easy and cheap
The cost of hiring an offshore software developer in Vietnam ranges from $10 to $25 per hour. In other Asian nations, such as India or China, the exact scope of labor will cost anything from $18 to $50 per hour.
The cost of hiring an offshore software engineer with four years of expertise is around US$2,000, if you can recruit the proper talent.
Furthermore, office or co-working space in Vietnam is inexpensive. These factors combine to make Vietnam one of the most fantastic IT outsourcing destinations on the planet.
Then there’s the query of how much it costs to develop an app in Vietnam. If you have an app concept, expect to spend 400 and 600 hours developing it. As a result, when it comes to IT outsourcing in Vietnam, cost is one of the most significant advantages compared to other common outsourcing destinations.
Vietnam has an increasing population structure and is now experiencing what is known as the golden population period. Vietnam’s population is roughly 28.5 years old on average. As a result, new graduates in Vietnam are in extremely high demand. “Vietnam has the top information science students I’ve ever seen,” said Neil Fraser, a software engineer at Alphabet Inc’s Google, as per Reuter. One crucial factor is that Vietnam’s skill pool is constantly expanding: The majority of today’s developers are from the Millennial age, Currently, youthful developers account for the majority of developers in Vietnam, with 53.2 percent between the ages of 20 and 29. Senior developers with more than five years of experience make up around 30% of the workforce. Many developers have only a few years of experience yet are Senior/Lead capable. They are making it among the top talented countries.
Work morale and ethics with business
Vietnam is distinct in that it has a low worker turnover rate. You have not just your family but also a large family here. The desire to stay in the nation, work locally, and provide for their family is typical of Vietnamese culture. This is a significant difference and benefit of outsourcing in the Vietnam context. Furthermore, Vietnamese have long upheld a valuable history of hard labor. Vietnamese have been connected with dedication and a lack of fear of adversity from a rural area. The country is well-known in Asia for its image of people who work hard and succeed in life.
Furthermore, Vietnamese’s solidarity and togetherness is a valuable trait; it is at the heart of the collaboration attitude required in programming. Although the phrase “business intelligence” is not new, its significance has recently risen to unthinkable heights. Some firms may have the resources to establish an in-house development team. On the other hand, other organizations must rely on outsourcing to handle their business analytics in Vietnam.
Business scope there
According to a Gartner survey, Vietnam is one of the top 30 nations for offshore software development services. Compared to our previous outsourcing destination, India, you can discover current IT capabilities in Vietnam that are on par with what India has to offer, if not better. According to KPMG, Vietnam’s yearly Gross Domestic Product (GDP) quadrupled from US$600 per person in 2005 to a favorable US$2,185 per person in 2016, a significant rise in just a decade. Regarding the political environment, Industry 4.0 has immediately gained the attention of the Vietnamese government. The authorities and government have launched a project dubbed “Vietnam Silicon Valley”, with favourable legislations put into place to facilitate the IT industry in the country. The government also provides location-based incentives, which aid disadvantaged areas depending on company investment and development levels. Furthermore, one of the important benefits of choosing an offshore software development business in Vietnam is political stability.
As you’ve seen, various factors influence choosing an offshore software business. Of course, when choosing a nation for IT outsourcing, price isn’t necessarily the most crucial factor to consider. There is no “yet another” solution. Each IT outsourcing firm provides a distinct level of service and caters to different customers. Recently, Vietnam has surpassed China as Japan’s second-largest outsourcing partner.
Aside from Japan, Vietnam has lately emerged as one of the essential outsourcing destinations for businesses in the United States. Vietnam will be a very passionate and adequate country to outsource your project. The ever-changing environment can be adapted by the expanding young population of specialists and entrepreneurs. A large pool of youthful talent promotes critical thinking through productivity improvement and working methods. Thanks to its young population of flourishing talents, the country will likely become an increasingly attractive software outsourcing location for many global enterprises.