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Higher Costs Building an in-house team requires considerable investment in salaries, benefits, infrastructure, and training. In markets with high demand for skilled developers, companies may face stiff competition and higher salary expectations.
In addition, the article also presents 10 other strategies to reduce costs such as applying Agile methods, effective project planning and optimizing team structure. According to McKinsey, adopting Agile methods can reduce software development costs by 20-30% while improving time to market by 20-25%.
Outsourcing allows businesses to tap into diverse expertise and overcome local talent scarcity. Faster time to market: With dedicated teams working on your project, outsourcing can significantly accelerate development cycles. However, traditional development offers more flexibility and customization for complex projects.
Accelerated Timelines Outsourcing firms are equipped to start your project almost immediately, reducing the time it takes to bring your product to market. This is particularly valuable in fast-paced industries where being first to market can make a significant difference.
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