software outsourcing companiesin India to reap the economic and competitive benefits? Beware, your wrong decision can put your organization in trouble. Quantification of process to choose software outsourcing company can help you choose the best organization that fits the best to your requirements. A set of questions follow to help you in this process.
Table of Content
- 1. How is your financial health?
- 2. How is your physical health?
- 3. What is your relevant experience to my domain?
- 4. Do you have any quality assurance certifications?
- 5. How would you protect our confidential information?
- 6. What is your project management methodology?
- 7. How would you fit to my requirements?
- 8. How is your business model and contracts structured?
- 9. What is your SWOT analysis?
- 10. What is your force majeure?
How is your financial health?
Financial stability is vital before outsourcing your projects to software outsourcing companies. Financial stability would induce stability and timely delivery of your projects. It would also ensure that it can cope up with economic fluctuations in the market. Financial health should be given very high importance while quantifying candidate qualification. Organization can use financial rations like Debt-to-Equity Ratio, Current Ratio, Quick Ratio, Return on Equity (ROE) and Net Profit Margin. This is indicative list and not an exhaustive one. There are many other financial parameters that one should consider to determine the financial health of a software outsourcing company.
How is your physical health?
Company profile with sound physical statistics like employee count, office locations, running project counts, successful projects executed, year of experience etc. helps you to decide company capabilities and competencies.
What is your relevant experience to my domain?
Proven track record of service commitment and delivery is very vital but Industry knowledge is even more important. A company can be sound technically but if it fails to understand business requirements, it lays the foundation of unsuccessful product or project. User acceptance heavily depends on this factor. Even if a project is technically good, it may fail if user acceptance is not given due consideration. Industry and subject knowledge play crucial role for successful project.
Do you have any quality assurance certifications?
Certification alone cannot help to judge a company in terms of quality and timely delivery. However this provides an organization additional surety that the company follows specific processes that leads to quality and timely service delivery to customers. This also reflects company’s commitment and dedication to service quality.
How would you protect our confidential information?
Concepts, ideas and trade secrets are king in business. It floats the organization and misuse of this has ability to sink the organization as well. IP protection and confidential information are the key factors that were hindering revolution in software outsourcing for ages. However software outsourcing companies in India have started respecting the importance of Intellectual property ownership and confidential information. Companies have taken required actions to ensure that IP remains with outsourcing company and confidential information are protected.
What is your project management methodology?
AGILE Project managementmethodologies like SCRUM for better and effective project managmenet. Right project management methodologies provide sustainable benefits at tactical, operation and strategic level.
How would you fit to my requirements?
Every organization has different business needs. It is important to ensure that the company that you choose is flexible and scalable enough to meet your needs and service offerings. It should be flexible and ready to go beyond a service call to ensure that your business runs smoothly.
How is your business model and contracts structured?
Conflicts are unavoidable and can emerge any time during or after the service delivery. It can be due to any reason foreseen or unforeseen. Contracts and agreements are vital to mitigate legal and contractual risks. It is important that contracts and agreements are structured considering all software outsourcing risks, business needs and geopolitical boundaries and protects the organization from legal issues and conflicts.
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What is your SWOT analysis?
SWOT analysis would help an organization to understand strengths, weaknesses, opportunities and threats of the software outsourcing company in question. A closer frequency match of SWOT analysis, ensures better sync of organizations in terms of company culture, values and work ethics. SWOT analysis also provides other meaningful information about how company is structured and where it is heading. This can help you in company analysis in better way.
What is your force majeure?
Natural calamity or any unforeseen event or circumstances can put your business on hold. It is very important to know how company manages and reacts to force majeure like earthquake or any other natural calamity to ensure business continuity. These terms can help to know how soon your business can be expected to resume during force majeure.
A wrong decision of choosing software outsourcing company in India can outweigh the benefits of outsourcing in terms of money, time and skills and right choice can boost your business to next level. Though this list is not exhaustive but indicative to help you choose right software outsourcing partner to reap the competitive and economic benefits of software outsourcing