Category: Technology Insights & News

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Top 10 Software Development Companies in Vietnam

Vietnam’s Information and Communications Technology (ICT) sector has an average yearly growth of 9.8% for the last five years with annual revenue of $110 billion in 2019, a 14% contribution to the country’s GDP. Thanks to its growing IT infrastructure, improving logistics and regulatory environment, and business-friendly economic reforms – it is now emerging as an outsourcing destination in the Asia-Pacific region. Therefore, outsourcing to Vietnam has become a strategic option for businesses wanting to cut cost on fixed headcount. 

In this article, we are going to audit the state of outsourcing in Vietnam, as well as publishing a list of 10 best software development companies in Vietnam so that you have a full view of why and how you can hire software development services in this competitive market.

1. Why Outsource To Software Development Companies?

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During this pandemic, businesses across the world are cutting down on local staff. Some are deferring their planned IT projects until a more stable time, and some are canceling projects indefinitely. The savior for all such companies is IT outsourcing.

Outsourcing is a business practice in which certain company functions are assigned to outside service providers rather than performed in house. In other words, a company seeks external help or support to perform some of its business activities so it can stay focused on core business goals while saving time and money. In today’s tough scenario, businesses can survive through software outsourcing services – and some businesses might even be able to come out of this pandemic doing well.

The outsourcing industry has been an integral partner in companies’ crisis responses across sectors. Offshore software development to another country such as Vietnam is a smart decision that companies should consider to maximize their productivity in a cost-effective manner. This proven approach has led to many successful projects, as it allows a business to focus on its core competencies. It should be used as a strategy that can really boost a business.

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2. Vietnam – Ideal Destination For Offshoring

1. Pandemic Stabilization

Recognizing that its medical system would soon become overwhelmed by even mild spread of the virus, Vietnam chose prevention early and on a massive scale. The country reported one of the least cases in Southeast Asia with minimal deaths. We are also featured in various reputable newspapers for our relentless efforts and successful pandemic countermeasures. This has given businesses based in Vietnam a head start over global competitors at this time.

Update 16/5/2022:

  • Over 80% of Vietnam’s population has been fully vaccinated.
  • Vietnam has dropped the Covid-19 test requirement for foreign arrivals from May 15
  • The recovery rate is 87.5%, while the Fatality rate is only 0.4%

2. Cost-Effectiveness

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According to Innotech, outsourcing software development in Vietnam costs 50% less than the rivals from India and China. Anderson Vietnam also estimates that outsourcing per person in Vietnam is only $20,000 per person a year compared to $40,000 per person in India. These figures are convincing enough to place Vietnam as the top future contender for offshore development projects. 

As Indian companies enter the maturing cycle, the cost differential between India and Vietnam will increase even further. The outsourcing costs in India are most likely to increase in the coming years.

3. Potential Workforce

Human capital in Vietnam is witnessing positive trends. Some of the most notable highlights in Vietnam IT workforce in recent years are:

  • Top 7 countries in Asia with the highest EF EPI Average.
  • Top 5 countries in Asia with the fastest improvement in English skills.
  • Top 10 countries in the world with the most engineering graduates.
  • Top 10 countries of origin of international students in key study-abroad markets.
  • Top 10 countries in Asia Pacific with the highest Human Capital Index.
  • Top 10 in regional groups in global attraction and global knowledge skills.
  • Top 30 countries in the world and top 2 in SEA countries for basic academic skills.

Moreover, Vietnam has a population of over 90 million people and over 60% of the population is under 30 years of age. With that being one of the countries with a young population, the Vietnamese – or Vietnamese workforce specifically – are perceived to be fast learners, dynamic, innovative, tech-savvy and flexible to changes. 

4. Knowledge & Skills

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As the surge of technology is making a significant impact on every generation, more and more STEM majors, schools and academies are opened to encourage the young to invest their talents in technology and relevant sectors and hone their skills. The rapid development in both quantity and quality of IT education in Vietnam provides an extensive supply of software developers for Vietnam outsourcing companies in the years to come. 

On the other hand, Vietnam students are often appraised for their fast absorption of knowledge, most of them have good to excellent academic background as certified by standardized exams, endorsements from global recruiters, honours and awards. 

5. Vietnam’s Developers Ranking

Skillvalue 29th

worldwide in developer skills charts of skillvalue’s report 2018

Topcoder Top 6

worldwide in developer skills charts of topcoder report 2016

Hackerrank 23rd

worldwide in developer skills charts of hackerrank’s report 2016

AI Development

The first two scientific researches at neurips – top 1 conference in the world about artificial intelligence in canada from artificial intelligence research lab vinai research

Workers in Vietnam have extensive English language training. Because the majority of the software engineers you’ll be hiring are college graduates, they’ll have attended English classes throughout the years and will most likely be fluent in English already.

With that said, it is considerably easier to outsource to other countries when you have solid English communication abilities. If you want to work in software engineering or business process outsourcing, you should have excellent communication skills.

Learn More On: Why Vietnam a Top IT Outsourcing Destination!!

3. Top 10 Software Development Companies In Vietnam

A glance back at 2021 from Savvycom Team

Many organizations would be unable to increase their efficiency and achieve the desired level of satisfaction without software development companies’ assistance and technological expertise. With the ever-increasing technical demands, it’s critical to choose the right company to guide you through the process and help you find the best solutions. Here are some of the top software development companies in Vietnam in 2021 that will find the most cost-effective ways to achieve their objectives:

1. Savvycom

Savvycom is one of the leading Information Technology companies in Vietnam, specializing in providing digital transformation consulting services and software solutions in finance, healthcare, and retail for domestic and international businesses. Headquartered in Hanoi and with three representative offices located in Ho Chi Minh City, USA, and Australia, the company’s mission is to leverage engineering resources in Vietnam and empower businesses worldwide by utilizing the power of technology, becoming a leading IT company in the ASEAN region and beyond.

The company’s successes are reflected in its 100+ endorsements from clients, including Fortune 500 companies, in its receipt of more than 20 international honors and awards, and in its strategic partnerships with technology brands such as Apple, AWS, and Microsoft.

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2. KMS Technology

KMS Technology is a U.S.-based engineering and services firm with development centers in Vietnam, founded in 2009. International clients rely on KMS Technology because of the high quality of its products and the expertise of its Vietnamese engineers.

KMS is dedicated to making a long-term social impact by partnering with non-profit organizations that provide fair and better employment opportunities for disadvantaged students. In Vietnam, the company collaborates with universities regularly, participates in IT training activities and specialized events, and sponsors scholarship programs.

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3. Rikkeisoft

Rikkeisoft provides software services and solutions for clients worldwide, ranging from Web/Cloud Systems, Mobile Applications, Games, and Blockchain to AI, IoT, Business Processing, and Embedded Systems. Eight years after being founded in 2012, they have successfully established three branches around Vietnam and three affiliated companies. They take pride in our mission of building better lives through advanced technology for people. Their vision is to have 10,000 employees by 2025 and become one of the top Vietnamese software development companies in Southeast Asia.

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4. Positive Thinking Vietnam

Positive Thinking Company is a global independent tech consultancy group with a team of more than 3,500 talented tech specialists on the ground in over 35 cities across Europe, the USA, Asia, Australia, and Africa, they serve clients of all sizes. They believe collaboration betters our world. Their unique open ecosystem model allows us to deliver end-to-end tech solutions. Their services draw on a wide array of expertise, including apps & platforms, security, cloud, data & analytics, hyper-automation, and digital workplace.

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5. CMC Global

CMC Global is a subsidiary of CMC Corporation with the goal of bringing Vietnamese ICT products, solutions, and services to the international market. We are proud to be the leading company in Vietnam in providing a wide variety of comprehensive IT Solutions & Services, ranging from traditional services to Digital Transformation, as well as Consultancy, to organizations worldwide, having been established in March 2017 as a strategic move by the Corporation to enter the global stage.

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6. Tpp Technology

In Viet Nam, TP&P is one of the leading, highly diversified, and pioneering IT service providers and investment management firms. TP&P applies its extensive experience and specialized knowledge to various technology startup investment and service provision strategies, including software development, development and cloud management, and business consulting.

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7. Smart OSC

SmartOSC is a full-service e-commerce agency that was founded in 2006. Lotte, Courts, PayPal, Boozt, SpaceX, Smartbox, eWAY, Priceline Pharmacy, Club 21, Delta Apparel are among the company’s more than 500 global clients. SmartOSC has a global presence with 500+ employees and offices in Vietnam, Australia, Singapore, the United States, and the United Kingdom as of January 2017.

SmartOSC provides consulting, UI/UX design, development, and managed services, among other things. The technical and business expertise of the company is based on a few platforms: Magento, Sitecore, Adobe, Hybris, and Kentico.

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8. NashTech Vietnam

NashTech strives to create a nurturing environment that facilitates the growth of our employees, professionally and personally. They put effort, determination and ambition into creating a second home for their employees, where everyone is encouraged to be their most authentic self.

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9. Orient Software

Orient Software began operations in 2005. Orient is currently one of the leading software development companies in Vietnam. Orient’s strong team of 315 skilled and experienced IT experts collaborate to provide software development solutions to clients with small to corporate-sized businesses worldwide after more than 15 years of providing professional IT solutions.

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10. Saigon Technology

Saigon Technology Solutions is Vietnam software development outsourcing company focused on delivering cost-effective solutions to its clients. Its customers are located in the US, the UK, Australia, Germany, and the Netherlands. Their services include custom application development, web application development, and mobile application development. It is listed among the top software development companies around the world. Additionally, Saigon Technology Team also provides .NET Core, Java, PHP, ReactJS, Angular, Azure, AWS, microservices, and machine learning. Some of its impressive clientele include Kaercher, Abbott, Panasonic, Topicus, and DMI Inc.

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From Tech Consulting, End-to-End Product Development to IT Outsourcing Services! Since 2009, Savvycom has been harnessing the power of Digital Technologies that support business’ growth across the variety of industries. We can help you to build high-quality software solutions and products as well as deliver a wide range of related professional services.

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Step-by-Step On Legacy System Modernization

Here at Savvycom, we notice there are numerous disadvantages to legacy systems. They are challenging to support, upgrade, or integrate with new systems. If we’re talking about making and mataining large-scale app, their maintenance costs can run into millions of dollars annually. However, replacing an old system is complex, particularly regarding critical business processes within an organization. Legacy system modernization addresses this issue by providing several options that will not disrupt your internal operations.

Before delving deeper, consider when you might require legacy software modernization:

  • Your current systems do not accept and process data from internal software and partner systems in various formats.
  • To connect to new applications, you must customize integrations.
  • Your software cannot handle increased data volumes from new applications promptly.
  • Your current IT systems are incapable of detecting and correcting data processing errors.
  • The cost of maintaining legacy IT infrastructure exceeds the cost of modernizing it.

This guide examines six common legacy system modernization strategies and outlines the steps to take before beginning the modernization.

1. What Is Legacy System Modernization?

When we think of legacy systems, we usually think of corporate IT apps from the 1990s or early 2000s. Most likely written in COBOL or Fortran, with an out-of-date user interface. However, neither age nor programming language determines whether a system is outdated. The term ‘legacy’ refers to any software, technology, or system that slows or blocks organizational processes, making it more challenging to adapt to changing market dynamics.

According to this definition, legacy system modernization entails partially or completely updating and replacing an outdated or inefficient system, processes, and applications.

For example:

  • Assume you work for an insurance company and are running an old ASP.NET application. 
  • The app’s purpose is to manage car insurance claims. 
  • Adjusters must take pictures with their digital cameras and load them onto their PCs from SD cards. The images should then be manually uploaded to the site.

The term “legacy system modernization” refers to the process by which an organization’s aging systems are brought up to date and optimized to improve operational efficiencies, address technological limitations, provide a better user experience, and allow for the adoption and integration of other systems built on more recent platforms.

It works if you only have a few cases per day. What if there are hundreds of them? You could start by providing employees with a mobile app, so they don’t have to lug their laptops around. They begin taking photographs, which the system automatically uploads to Google Photos or the cloud. You can also use web app development services to get a flexible, scalable, and mobile-friendly solution.

Learn More On: Top 10 Reasons Why You Should Update Your Website Now

2. Why Do You Need System Modernization?

Every organization will undoubtedly require software modernization at some point. It does not mean that you must modernize the entire system, but you will almost certainly need some update to remain efficient, respond to market changes, and increase ROI. Let us now look at the reasons for considering legacy software modernization.

2.1. Maintenance and Support

In most cases, the costs of maintaining aging infrastructure outweigh modernization costs. The following are the costs of legacy system maintenance operations:

a/ Updates and changes

A large codebase typically supports legacy systems with numerous intricate functionalities. Because they are monolithic, changing or updating one system module is impossible without affecting other app components. As a result, any required modifications take a significant amount of time and effort, and none of them are inexpensive.

b/ Infrastructure

In comparison to software modernization, legacy system infrastructure maintenance costs remain high. Old data is related to another significant infrastructure issue. It isn’t easy to restructure for increased storage space optimization because it is dispersed across several databases and storage resources. Collecting and organizing historical data to migrate to a new database is time-consuming and resource-intensive.

c/ Staff training

Legacy system maintenance necessitates specific knowledge and expertise due to obsolete technology. While the programmers who created the application may switch to other technologies, finding the required expertise is becoming increasingly difficult. As a result, you should consider employee training, which may require a small portion of your budget.

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2.2. Security

Legacy systems are vulnerable to cyber attacks, malware, and harmful programs. If you’d relied on a software solution for years, hackers would have had plenty of time to learn your code and identify flaws. According to a study, 60% of small businesses fail within six months due to cyberattacks. The average cost of a cyber attack on a small business is $25,612, including monetary loss and brand reputation.

Even if your solution is custom-made and you have the resources to support it, adding new fixes necessitates additional security funding. While IT security will always be a concern, many vulnerabilities can be addressed by upgrading outdated software and enterprise security protocols.

2.3. Integration and Compliance

Third-party APIs are used by modern enterprise software to add business value. Third-party services (and their APIs) can be used to track transactions, plan routes, share data, confirm users, and so on. Legacy systems, unlike modern software solutions, lack integration capabilities and necessitate a significant amount of customization and coding time to connect to third-party software.

Compliance is another reason to consider legacy software modernization, which is especially important in heavily regulated industries like healthcare, politics, and finance. For example, the General Data Protection Regulation (GDPR) has been in effect for several years, but many businesses still struggle to comply with it.

2.4. Lost Business Opportunities

Scaling or improving your IT infrastructure will always incur costs whether you invest in a new cloud-based solution to drive business growth or in the upkeep of your current legacy system to keep it running. On the other hand, investing in obsolete technologies leaves less room for innovation. You cling to outdated software, ignoring new opportunities in favor of capitalizing on new technologies and business models.

This places you in the background, giving your competitors more opportunities to outwit you. Investing in software modernization will enable you to move forward with novel digital products designed for improved client experience, improved backend maintenance, and shorter deployment times.

Learn More On: Native Vs Cross-Platform Development: Which one is better?

2.5. Organizational Agility and Efficiency

Most businesses that rely on legacy systems lack the organizational agility to meet market demands. Meanwhile, agility is at the heart of software modernization. Agile methodologies, such as Scrum, Kanban, and Lean Development, accelerate IT service delivery due to their iterative nature and lack of paperwork and control. Even though legacy system modernization is a complex process, aligning with modern IT demands is critical. Furthermore, outdated software is inefficient, resulting in lower employee productivity.

3. So, When Will You Need Legacy System Modernization?

When is it appropriate to modernize legacy systems? Unfortunately, there is no standard answer because it depends on various factors. First, you must gain a complete and fundamental understanding of your current systems, assess your business performance, and determine whether your existing technologies are sufficient to address your long-term goals.

To help you, we’ve compiled a list of five questions to ask before modernizing legacy systems:

  • Can your existing systems accept and process data from internal software and partner systems in various formats?
  • Do you need to modify integrations to connect to new applications?
  • Are you able to deal with increased data volumes from new applications quickly?
  • Can your current IT systems detect and correct data processing errors?
  • Is it more expensive to maintain outdated infrastructure than to modernize it?

If none of the answers above satisfy you, it’s time to consider legacy software modernization.

Learn More On: Top 10 Software Development Companies in Vietnam

4. Modernization of Legacy Systems: Step-by-Step

Modernization does not always necessitate a comprehensive overhaul of your IT infrastructure. However, it does necessitate an honest evaluation of where digital change is required.

Before we get into legacy software modernization options, let’s examine what research and preparation you’ll need to conduct to prepare.

4.1. Establish Your Software Modernization Objectives

Simply switching your COBOL/CICS environment to Java will not solve all of your problems. It is preferable to link modernization initiatives to your business and technology goals, such as scalability, additional features, and faster time-to-market.

Modernizing billing software and connecting it with a new e-commerce system, for example, could increase customer happiness while decreasing service costs. This is because fewer customers need to contact the company regarding billing issues.

Depending on your business, market, and goals, you can determine how legacy system modernization could affect revenue, market share, customer experience, and other factors.

4.2. Recognize the System’s Current State

The next step is to assess how well your present system is doing. This will assist you in developing an initial roadmap for modernization and prioritizing the apps that need to be updated.

Begin by inquiring about the infrastructure of your system:

  • How are resources allocated?
  • What are the chronic resource issues?

Performance:

  • How is the software now functioning?
  • How does it usually perform?
  • Is the system generating any errors?
  • Which ones are they?
  • What is the end-user experience like?

And how it will affect your business:

  • What effect does the system’s performance have on your revenue?
  • How much time do employees spend using the app?
  • What effect does the app have on conversion rates or order value?
  • Do errors or downtime affect customer service costs?

You and your team can decide on a system modernization approach once you have a complete picture of your system’s performance, UI, infrastructure issues, and codebase.

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4.3. Decide on a Modernization Strategy

It’s time to put all of your data to use and decide on a modernization strategy. Of course, if you’re working with a software development firm, they’ll evaluate your system and recommend the optimal strategy. Still, it’s a good idea to familiarize yourself with all your possibilities. These are six methods for modernizing outdated systems. However, only three rehosting, re-platforming, and refactoring involve modernization.

5. Software Modernization Strategies

Although rewriting or replacing may be the first thoughts that come to mind, legacy software modernization should be done on a case-by-case basis. As a result, when planning modernization, it is critical to examine all system nuances upfront.

The analysis must include:

  • Existing IT architecture
  • Technology
  • Functionality
  • Risks
  • Complexity
  • Cost

The final strategy for software modernization will be determined by the challenges you wish to address and business/performance objectives.

5.1. Encapsulating

Encapsulating software entails using and growing application features by enclosing their data and functions and making them available as a service through an API and encapsulating a system with third-party APIs limits system access to match the data and workflow of current systems engaging with it. You could, for example, integrate the system via an API into a general UX platform so that its information is shown in a format that consumers can easily interpret to deliver optimal UX.

Encapsulation can alleviate the short-term pain of bad UX and make a legacy system behave like a new one. The issue is that it does not solve the major problem with a legacy system: maintenance overhead.

Learn More On: The Essential Guide To Software Development Services

5.2. Rehosting

Replacing entails switching to another package solution that meets your company’s needs. It is sometimes more advantageous to switch to a different system than to upgrade the current one. You cannot utilize the present business logic when replacing, but some level of re-engineering, customization, and rewriting business logic may be required.

Still, modifying a product can be tricky and dangerous. It, like rewriting, should be considered only when sustaining an existing legacy system becomes problematic owing to staff or hardware constraints.

5.3. Replacing

This abbreviation means migrating the system to a new physical, virtual, or cloud infrastructure with no changes to the code, features, or functions. It may make sense, for example, to migrate an outdated system to a cloud or SQL-based environment.

Moving to the cloud makes the system more adaptable than on-premise hardware and increases data security, reliability, and continual updates. Moving to SQL-based x86 architecture systems results in cheaper purchase costs and less stringent cooling and space requirements.

The rehosting technique is less expensive and risky than re-engineering (which might take years to complete). However, the business logic is preserved; thus the system continues to function as before.

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5.4. Replatforming

Developers leave the software virtually unchanged, retaining functionality while adapting to a new platform. The purpose here is not to rewrite apps; we have the rebuilding technique. Instead, systems are modified so that they may run in target contexts such as cloud-based ones.

Developers convert an existing system component to a managed service (such as a database service) with no changes to the business logic. It could, for example, mean a shift away from commercial databases and toward horizontally scaled open-source data repositories and services.

5.5. Refactoring

Optimize existing backend code without affecting front-end behavior or functionality. Refactoring is used to solve technical issues and improve the features and structure of a component. Companies can maximize cloud cost efficiency by re-coding specific sections of their current system to use cloud-native features fully.

5.6. Re-Architecting

Re-architecting means completely rewriting the app’s code to migrate it to a different architecture. You can completely use the new and improved features of the existing platform by modifying the code. For example, you can transition from old monolithic architecture to new microservices architecture.

This could be a decent idea, given IDC IT predicts that by 2022, 90% of all new apps would use microservices designs. Microservices, they argue, will improve the capacity to develop, debug, update, and leverage third-party code.

Learn More On: 10 Best Mobile App Development Companies In Vietnam

5.7. Rewriting (Rebuilding, Redesign)

Rewriting entails creating a new system from scratch that performs similar duties. It could be an excellent alternative if your clients require more than what your present system can give. When the expenses of maintaining an old system exceed the price of rebuilding it, this system modernization option makes the most sense.

For example, your team may recreate the functionality of a monolithic app as a cloud-native microservice operating in a cloud-native environment. While these methodologies differ, they all have one thing in common: they all necessitate a detailed examination of your interconnected components, systems, and applications. This is because you cannot update one legacy system component while disregarding the others.

6. The Challenges Of Legacy System Modernization

Modernizing legacy systems is a complicated process in which new complexity emerges regularly. As a result, when you decide to upgrade your software, you should consider these factors.

  • Risk Management: Before modernizing your old system, assessing all financial, security, and operational concerns is critical. However, in other circumstances, defining the criteria for making choices and reaching an agreement among stakeholders may be difficult.
  • Restrictions on Data Management: Access to existing data is essential for successful legacy system transformation. To avoid inefficient and worthless information entering a modernized system, you must clean up the data and enhance the administration rules.
  • Resistance to Business Transformation: Modernization of legacy software extends beyond IT, improving business processes and efficiency. However, if the organization rejects the changes, rebuilding operations, and retraining staff may impact overall productivity and team morale.

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How to Optimize Your Business Instagram Account Without Using Expensive Software

If you’ve not got an Instagram business account, then it’s sad to say, you’re behind with the times! There are plenty of organizations out there that now have social media feeds in order to stay current with the times and connect with their audience over the internet.

Having an Instagram account isn’t enough though, as it takes a lot of work and effort in order to get followers and build up an engaged platform. Optimizing your account is a good way of getting it noticed but how do you do it without having to spend a lot of money on expensive software?

This guide will walk through the steps that are needed to optimize your Instagram business account and why this practice is important for your business. Hopefully, by the end of this article, you’ll have all the tools and knowledge you’ll need to make use of this popular social media platform for your business in 2022.

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1. The importance of optimizing your business Instagram

To put Instagram into perspective when it comes to other social media platforms, Instagram currently has around 200 million monthly active users. Facebook only has around 43 million per month in comparison.

Tiktok and Twitter are still two of the biggest ones for drawing in millions more active users but with 57% of Instagram users accessing the platform every day, it’s important to pay attention to its importance of it for your business.

1.1. Delivers more reach and engagement

When optimizing your account, you enable more users to see your content and to engage with it. Reach and engagement are two major influences on the success of your platform and it’s something that needs focusing solely when it comes to building your platform. 

By using the right methods to get your Instagram business account noticed, you could end up helping deliver more reach and engagement to your profile. That can hopefully convert to new followers and ultimately, conversions!

1.2. Instagram is one of the biggest platforms in social media

There are around 1 billion active users on Instagram currently, which is a lot of potential leads to take advantage of. Since its creation, there have been multiple platforms created off the back of the success it’s had, Tiktok being its main competition.

On average, people spend around 53 minutes per day on Instagram. That’s a significant amount of the person’s day and could be a great opportunity to utilize as a business.

1.3. Improves sales potential

Improving sales is one of the main reasons to optimize your social media platforms, including Instagram. With two-thirds of the total Instagram user base being 34 years or younger, it’s essential that you’re utilizing the potential buying power within this age category.

Millennials and Gen-Z generations are more likely to purchase online because they’re very much used to shopping online nowadays. Shopping on Instagram or buying products through brands they’ve seen on the platform, is something many will feel comfortable doing.

2. Five ways to optimize your business without expensive software

Now that you know the importance of optimizing your social media accounts for business, how do you go about it? Not every business has the marketing investment to spend money on expensive software. With that being said, there are lots of ways to optimize your profile without having to spend much at all.

Below, you’ll find five ways to optimize your business on Instagram without having to spend too much money on achieving the end results you’re after.

2.1. Interact with similar accounts and regram with UNUM where applicable.

When it comes to social media platforms, it’s easy to focus on your own account when a lot of reach and engagement relies on being sociable with other profiles too. As a business, it can benefit your account greatly by interacting with similar account types to your business and with those who would be most interested in your products or services.

A lot of business accounts nowadays are doing something called ‘regram’ which has been adapted to other platforms like Tiktok, which now has its own feature called ‘repost’. It’s essentially taking the post from one account and reposting it on your own. 

Many accounts have used viral news posts to piggyback off the engagement that it’s received through the original outlets. It’s something that you don’t want to do too often but it can certainly help with boosting your engagement and reach every so often.

To regram on Instagram, there’s a popular tool called UNUM that many use for this feature. They have a helpful guide on how to regram on Instagram if it’s a feature that you’ve not tried before and have very little idea of how to use.

When looking for the right profiles to interact with, use Instagram’s recommendations on the discovery page. This is a collection of profiles and content that Instagram feels you’re most likely to connect with. You can also look at accounts that use the same keywords that you’ve been using via the search bar.

2.2. Analyze any new content you create and make notes for improvement.

Part and parcel of creating content online are taking a closer look at how it performs once it’s been published. When it comes to the digital market, the trends are constantly changing and what was a popular form of posting on social media two years ago is likely to have changed greatly over the two years since. 

With that being said, every time you do post, it’s worthwhile analyzing that content to see how well it performed. Thankfully, most social media platforms, including Instagram, has its own analytical dashboard that you can use to assess each post.

This free feature means you don’t need to spend more money unless you’re looking for software and tools that have more detailed insights. With Instagram’s analytics dashboard, you get essential information like the reach the post achieved and where the audience you’ve reached is located.

For suggestions on analytics for deeper insights into your social media platforms, a good one is Sprout Social. Not only does this provide detailed analytics but it also acts as a content scheduler, making it easier and more efficient to post content daily.

2.3. Utilize your bio with the right keywords and hashtags.

Your bio is one of the first things that people see when coming onto your profile. That means you want to make everything in that top fold of the page, the most engaging and eye-catching content possible. From your picture to the information within the bio of the profile, it’s all important to make use of in order to keep the user on the page.

Take a look at your picture and if it’s enticing enough for your page and more importantly, is relevant to your business. Be sure to take a closer look at the keywords you could be using in your bio and find keywords that are more relevant to your business branding.

Make use of any links you can add to this section too, as well as any hashtags that you might deem relatable to your brand. It all helps in getting your profile noticed and for it to show up on your algorithm more so. 

2.4. Post consistently and know the right times to post during the day.

When it comes to posting the content, a lot of it can depend on when you post. Thankfully, we have a lot of automation at our fingertips, meaning you can post content without having to be at your desk to press publish.

Platforms like Later are a great tool to use when you need to pre-schedule content ahead of time. To know about the best time to post, it’s important to spend some time monitoring and tracking your own content via Instagram analytics.

While there are generic times when you should post online, these timings aren’t really specific to your audience’s geographic locations and general viewing habits when it comes to going on the platform. So an article might suggest the most popular times to post are at 4 pm on a Monday afternoon but your audience might not even be on the platform at that point.

It’s worth analyzing your previous posts and when you posted them to calculate the best time from the top 5 posts within the last week or month.

2.5. Engage with your comments and follow back where you can.

Comments that you receive on your posts should be engaged with as quickly as possible. As a business, you want to interact with your customers because it helps to build a relationship between you and that individual. If you’re not responding back, then the user is less likely to return to your profile to interact.

To engage further, it’s good to follow back accounts where you can. Don’t get caught up in needing to show you have fewer people than you follow versus the number of people who follow you. If they’re an account that’s engaged with your profile and does so on a regular occasion, follow them back!

Utilize Instagram for your business in 2022

If you’ve not already got an Instagram business account, then now is better late than never to start one. Look at how you can take your current business account and elevate it to new heights with the right strategy and tips.

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Top 10 Reasons Why You Should Update Your Website Now

Simply having a Website is not enough! It needs to look good and present information in a clear, accessible way. More importantly, your website needs to be able to create a solid first impression and make your users feel like they’ve found “The right place to be.” Otherwise, you’re competing for the same audience’s attention alongside another few hundred businesses. And we all know clearly that it’s an exhausting game of cat and mouse.

In this article, we go over all the reasons why you should update your website on a regular basis. At first glance, it might not seem like a big issue: For example, your website was built around 2015 to 2016. And you’re constantly updating your product listings; isn’t that enough for the time being?

Well, the short answer would be “No.” Not in today’s highly competitive online market where everything goes the digital route. Whether you have a big corporate website or a blog for your personal brand, to stay competitive, your site needs to keep up with the latest trends in terms of both looks and functionality.

In short, the importance of keeping a website up to date is this: With the majority of people spending more and more time online, regular well-executed updates can help your business grow and lift it to the top; a lack of updates, consequently, can bring you down.

1. Outdated Theme and Technologies

Nowadays, technology is a rapidly developing and constantly changing field. Web standards shift yearly, dictating new tools and technologies for building a good website. What was trendy yesterday may not be next week.

The goal of any new tech stack for building a website is to make websites better, faster, simpler, lighter, and more secure. And suppose you upgrade your website to adopt these new technologies. In that case, you’ll be sure to provide your users with the best possible service and user experience that result in a good reputation and profits.

The bottom line here if it’s been a while since you’ve built your site, it might be the time to start looking for a new website design and a more modern template that is accompanied with the latest technologies.

Learn More On: Dedicated Development Team 2022 – The Ultimate Guide

2. It Doesn’t Reflect Your Brand

Why Update Website 4

This one might seem obvious, but after many years of working with multiple clients, we still feel compelled to point this out. If you make only minimal changes to your brand, you will either need to update your website or add a new section to reflect them. This will help you, among other things, to attract your visitors’ attention to these changes no matter big or small.

The dial is turned to eleven when you’re introducing major changes to your business strategy. Your website is ultimately the face of your brand and the first thing potential customers will notice about you and your business. So, it’s vital for this face to always be in sync with your business and send out a stunning first impression to all users.

Have a Project Idea in Mind?

Get in touch with Savvycom’s experts for a free consultation. We’ll help you decide on next steps, explain how the development process is organized, and provide you with a free project estimate.

3. You’re Not Attracting The Right Clients

Design trends change a lot more than you can imagine, and while there’s a certain “Je ne sais quoi” to appear old-school in some niches, being old and outdated isn’t the same as being old-school or going retro. If you don’t keep your eye on your design, you’ll start losing customers and stop attracting new ones as time progresses.

On the other hand, if you redesign a website for your business from time to time, especially when the current trends are relevant to your business, let’s just say your are giving your website a new decoration every christmas, halloween, etc. You are sure to pull in new customers even those who were “just passing by.”

With that said, perfect design aren’t only about color themes and shapes. Although global preferences change in these directions as well, website design is about so much more. For example, in recent years, the designers at Savvycom have been heading towards the uncluttering route, reflected in our own website designs for the clients:

  • Cleaner and more straightforward websites that work seamlessly between all devices and screens are all the rage right now.
  • Motion UI is also gaining more and more traction.
  • Ensure all your content is consistent, including colors, fonts, and icons.
Learn More On: Website Vs. Web Application: Which One Is Better?

4. Improve Loading Speed

“Time is of the essence.” I guess by now, everyone understands what that means. No one will stay or have enough patience to remain on a website that takes ages to lead. In fact, slow loading speed is the number one contributing factor that would result in a high bounce rate.

Many things affect page loading speed. One of them is, of course, the way the page is coded, to be more specific: heavy, unoptimized images, underpowered hosting, and even an old, poorly performing theme. Other causes include cluttered UIs, and an overabundance of unnecessary or unoptimized links can also be a nuisance if left unchecked. If you check out the latest trends in web development technology, you’ll see that a great deal of them are aimed at making pages load faster. Website updates that employ new technologies can lower your website’s bounce rate and improve your SEO ranking.

Aim for a loading time under 4 seconds. If you’re unsure how quickly your site loads, use tools like Pingdom or GTmetrix, or the more popular Page Speed Insight to check how long it takes for your site to load and which files or elements on the site are the troublemakers. Poor testing results mean you will have some work to do in order to improve performance.

5. Security

It’s all about data safety nowadays. Users’ personal and financial information is often digitalized and stored on website servers. For example, your medical history is likely stored on the servers of your healthcare provider. Outdated security measures will more than often be under threat by hackers. That’s why Blockchain Technology is all the rage these day, since your information is yours and yours alone.

Moreover, all the user data contained in it will be compromised. They can even be stolen if you don’t keep up with the newest means of data protection. Regularly updating your website and content management system (CMS) is necessary. If your website uses custom-built security, see that it’s compliant with the latest standards on the market.

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6. Flexibility & Mobile Responsive

Why Update Website 1

If your website doesn’t have a mobile version or isn’t mobile responsive, you can just throw it right away and start making a new one. According to Statista, in 2021, Mobile accounts for approximately half of web traffic worldwide. In the second quarter of 2022, mobile devices (excluding tablets) generated 58.99 percent of global website traffic, consistently hovering around the 50 percent mark since the beginning of 2017 before permanently surpassing it in 2020.

Granted, in some countries, this number will be lower. But it will be much higher in others, for example, developed countries. This trend has led to what we now call mobile-first website development. As the name suggests, it’s when websites are created for Mobile initially and with the User Experience optimized for Mobile Users and are later adopted to desktop browsers.

Even if you have a separate mobile app, your website needs to adapt to mobile screens; otherwise, you face the fact of losing potential customers. If your business has been around for some time and your website is several years old, be expect to optimize it for Mobile ASAP. Since old technology didn’t allow for mobile optimization, old sites may be displayed incorrectly on mobile devices with a variety of screen sizes and resolutions.

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7. Improve Your Search Engine Rankings (SEO)

Let’s start with the basics. Do you have a blog? Well, you should, as it’s a powerful marketing tool for SEO to drive more traffic and users to your website through keywords, internal links, and backlinks.

Google’s search engines or any other search engines love good, updated content. Every time you make an update to your site, Google and other search engines crawl and index your pages. Thus your site ranking gets recalculated. If you keep your content updated and of good quality that is made for SEO purposes, you increase your chances of getting noticed on Search Result pages. Pair that with a charming, good-looking website, and you’re guaranteed more attention.

But then again, when should you update your websites for SEO? Well, major changes to Google’s search engine algorithms happen approximately every half a year, so you can start with tracking those. But smaller changes to Google’s algorithms can happen at any time. Sometimes, we see iterations every couple of weeks; other times, there are several months of calmness before the storm.

Changes in search algorithms can affect your website’s ranking in search results, so it’s important to refresh your website regularly if you want to rank higher than your competitors. And it’s challenging to comply with all the new demands by search engines if you’re using older technologies.

Why Update Website 2

So, what about the actual content? How often should you update content on your website? Well, depending on your business type, the answer will be slightly different. However, most search engines rank frequently updated sites higher than those that only produce 1 or 2 articles per month.

At the same time, when you think about the importance of updating website content, it’s essential to consider the quality of content and your SEO strategy. Regularly updated but poor content will result in the fastest downfall, both with the visitors and with search engines – for example, Google’s Panda algorithm can lower the rankings of websites in search results for keyword stuffing (overloading text with keywords that lack proper context) and for low-quality or repeated content. There is no saying that you won’t be penalized for using tricks which are often called “Black hat” in SEO.

Google’s algorithms have been particularly demanding about the quality of content. Enough so that the company has created principles for websites to comply with if they want to keep high rankings in search results:

  • Beneficial purpose – Websites should be created with users’ interests in mind.
  • E-A-T (Expertise, Authoritativeness, Trustworthiness) – Websites should be trustworthy, the content and site itself should present relevant expertise. If there’s anything that seems too sketchy or potentially harmful, Google will lower the site’s ranking.
  • YMYL (Your Money or Your Life) – Content that touches upon information which can impact big decisions among readers (news, medical and financial advice, legal advice, etc.) must be written by professionals within the given field.

8. Incorporate Cool Apps & Integrations

There is an abundance of plugins and third-party web apps that can be integrated into a website today to enhance its performance or to better engage with the users. For example, it is always beneficial to add more pop up and call-to-action at the right time and the right place that would increase your chance of a successful conversion. And one of the major reasons to redesign your website is to add such plugins. We have listed a few examples of possible integrations for your outdated or future modern website:

  • Social media
  • Google Analytics
  • Banners
  • Payment gateways
  • Reservation/booking systems
  • Ecommerce plugins
  • Content management systems
  • Photo Editing App

Adding plugins also sometimes means updating your code, design, and technologies to make the website work seamlessly. It does sound like a lot of work, right? But a necessary step if you wish to stay ahead of your competitors (or at the very least not lag behind anyone).

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9. Maintain a Favorable Bounce Rate

This is extremely important. Just imagine! You’ve been pouring your heart and time into creating meaningful content for SEO and marketing that brings a lot of traffic to your website. Yet the second they access your homepage (or any other page), they bounce right off of it – then you have a major problem of losing leads and potential clients.

A high bounce rate indicates that you’re doing something wrong, either with content, the navigation of your website which is also the tenth reason on our list, or overall look and feel on your site. On average, a bounce rate between 40 – 70% is considered OK (keep in mind that this varies depending on your industry).

10. Website Ease of Use

Why Update Website 3

Usability, or User Experience, is the art of making your website simple, user-friendly, and above all, easy to use. Understanding your customer’s online behavior gives you insight into what works and doesn’t.

No one would want to spend time on a website that takes ages to learn how to use. Make it simple and effortless for your users so they will stay; make it difficult, and they will leave at first sight of something hard. Some of the most basic and proven usability tips include proper use of taglines, intuitive navigation, and concise content, and strategic use of visuals.

  • Avoid confusing features or functionality.
  • Do links and buttons appear clickable, as they should?
  • Does the website flow logically?
  • Is it abundantly clear where important information can be found? If not, your website has not been designed for usability.

Never Miss a Deadline with Savvycom

Get in touch with Savvycom for a free consultation. We’ll help you decide on next steps, explain how the development process is organized, and provide you with a free project estimate.

Major Signs That You Need To Update Website Now

With all of that said and done, how do you really know that it’s time to update your site? It’s not like every website owner, including yourself, is well-versed in design trends and understands in-depth user flow and behavior; most are already busy leading a business and don’t have time or sufficient knowledge to follow the technology curve.

Luckily, there are a few small indicators to evaluate a site’s performance. Here’s a list of parameters that might show you it’s time to find a trusted Web Development Company to update your website. You can check these parameters using Google Analytics, Page Speed Insights, or any 3rd party services. Keep in mind that you need to check them regularly to keep your website alive and kicking.

Measurable Signs

  1. Bounce rate – The bounce rate is the percentage of people who see a single page of your website and then close the tab. Too high a bounce rate means your UI/UX and content are going to need a makeover as soon as possible.
  2. Page loading speed – If the pages on your website take too long to load, users will go look for what they need elsewhere. People often have neither the time nor the patience to wait around when there are a plethora of choices out there. However, there are different ways to measure loading speed and many services that can improve that.
  3. Time On-Site – The amount of time users spend on your site indicates the quality of your UX design and content. The optimal on-site time depends on the particulars of your website. Considering time on-site as complementary to the bounce rate is generally recommended.
  4. Leads and conversions – Well, if you are running a business already, then these terms shouldn’t sound strange to you anymore. Leads are your potential customers, and conversions are the numbers that represent the leads that have completed the desired action (e.g., submit their email through a contact form). If you’ve seen a severe drop in either leads or conversions, it’s a sign that people aren’t finding what they’re looking for on your website or simply are lost on the website. This can be due to old content or your site being difficult to navigate. Either way, it’s time you freshened it up.

Unmeasurable Signs

Moving on to a list of unmeasurable things that indicate you should update your website according to our expert’s advice at Savvycom:

  • Your website is simply too old – You should update your website every few years. For example, 05 years seems to be the ideal choice for most businesses. UI/UX, technology, and content are also on the list of things you need to keep fresh, even if you don’t have many competitors.
  • Having no mobile version and/or your website isn’t responsive.
  • Your website still uses HTTP – All reputable websites have already moved to HTTPS, the secure version of the standard HTTP protocol. It’s essential to use HTTPS if your website deals with any kind of sensitive data.
  • Making changes is challenging – These days, websites are built to make updating content more effortless than before; modern platforms are built to be flexible using the simple drag and drop method. So that people with little to no coding knowledge can create the perfect website for their businesses. If making even the slightest update takes time and effort or even requires contacting a third-party vendor, it’s a clear sign you need to reconsider things.

From Tech Consulting, End-to-End Product Development to IT Outsourcing Services! Since 2009, Savvycom has been harnessing the power of Digital Technologies that support business’ growth across the variety of industries. We can help you to build high-quality software solutions and products as well as deliver a wide range of related professional services.

Savvycom is right where you need. Contact us now for further consultation:

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Experts say that 2 to 3 years is the maximum lifetime for a website in terms of design. It will face the danger of falling into oblivion if you stop updating completely. Using new technologies can also bring many benefits to your website regarding features, speed and security, help you attract new customers, and eventually increase your profits.

The answer to this question depends on what type of content your website is currently providing. If we’re talking about blog-like businesses, we recommend updating web content at least once or twice every few days. You will also need to keep track of outdated content and either remove or update & upgrade it so that it can stay relevant.

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Savvycom and Insider to Unlock the Full Story of APAC Enterprises’ Customer Data

SVC Insider Signing Ceremony 2

HANOI, Vietnam, Aug. 2, 2022 Savvycom, Vietnam’s leading digital transformation and software development company, and Insider, a Unicorn Martech platform for individualized customer experiences, inked a strategic partnership combining Savvycom’s in-depth technological knowledge in fintech, healthcare, and e-commerce with Insider’s world-class customer analytics solutions to accelerate APAC enterprises’ top-line growth. 

This strategic partnership between two tech-driven organizations is expected to open up opportunities for integration across platforms, not only to enable business growth through understanding customer data but also to increase operating margin and create agility and adaptability, particularly for the APAC region in various digital-pioneer industries such as fintech, healthcare and e-commerce. 

With more than 70% of customer interactions digitalized, APAC organizations are under increased pressure to transform rapidly. The Thailand Digital Transformation Survey Report 2022 pointed out that successful companies will avoid returning to normalcy by permanently shifting their mindset and ways of working.  

Insider and its comprehensive platform plays a vital role in managing data and optimizing user experiences with updated technologies, such as real-time 1:1 personalization with users, automated AI/ML technology to help understand, 360-degree user profile data, forecast and build omni-channel customer journey. These innovations assist businesses in conversion rates optimization and engagement for sustainable growth. 

Meanwhile, Savvycom’s deep expertise in technology consulting and implementation, acquired through an extensive range of service delivery for large regional enterprises including SCG (Thailand), CLP (Singapore), CPR Vision (Hongkong), and VinGroup (Vietnam), is taking advantage of its digital core strengths.  The company focuses on digitizing processes and supporting cloud-based infrastructure transitions to match business needs and attributes to improve business operations through efficient and accurate decision-making. 

SVC Insider Signing Ceremony 1

Van Dang, CEO of Savvycom said, “Digital technologies and a data-centric mindset have unlocked significant opportunities for healthcare and financial services to drive new operating models centered on engaging experiences. As global and local enterprises seek to transform their businesses digitally, we bring them optimal and scalable solutions with our expertise and profound understanding of data from the unicorn start-up Insider.” 

“The technological unity between Insider and Savvycom provides a wide 360-degree view of users and personalized user experiences across multiple platforms,” added Insider’s SEA Regional Director, Jack Nguyen. “This partnership will help Insider go above and beyond its standard capability, building on an already impressive résumé of over 100 leading enterprises in Vietnam and over 800 around the globe, while assisting enterprises in capturing the latest and greatest trends in tech, getting one step closer to sustainable growth.” 

As a showcase of commitment, Savvycom and Insider will be hosting a series of seminars and workshops to enhance digital work in five areas, including ecosystem, organization, team, leaders, and individuals. The cooperation represents a significant step forward, empowering both companies to better resolve the market’s needs.

You are more than welcome to contact our Partnership Manager for a free consultation.

About Savvycom 

Savvycom is one of Vietnam’s leading digital technology companies, providing digital transformation consulting services and software solutions in finance, healthcare, and retail for domestic and international businesses. Headquartered in Hanoi with three representative offices in Ho Chi Minh City, California, and Sydney, the company’s mission is to bring innovative technology into life by leveraging the engineering workforce. 

About Insider 

Insider is a Customer Data & Experience Platform (CDxP) leveraging on its predictive proficiency in segmenting customers using AI Technology. Marketers could quickly gain access to and make use of the CDxP to process and transfer customized eser experiences across multiple channels.

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Savvycom To Welcome Onboard New Managing Director

Alex Lang August SVC 1

Today, we are pleased to welcome aboard Mr. Lăng Vĩnh Tường (Alex) as our new Managing Director – effective from August 1st, 2022.

Graduated initially from the Posts and Telecommunications Institute of Technology with a bachelor’s degree in Software Engineering, Alex has been active in the tech industry for more than 14 years, working his way in various positions from an ordinary employee to a respected leader in Vietnam’s Leading Information Technology Companies. It is without a doubt, Alex will bring a wealth of practical knowledge to this vital role proven by his exceptional track record of growing businesses and delivering strategic transformation. 

As Managing Director, Alex will be our representative in providing customers with Digital Transformation Consulting Services and state-of-the-art Software Solutions. We strongly believe his presence in our senior leadership team will propel Savvycom to our strategic goals towards 2030 of being among the top 10 leading Digital Technology companies in ASEAN while delivering world-class digital transformation solutions made by Savvycom. 

“When the opportunity came to pass, I was immediately intrigued by the growth opportunities and the sustainable values Savvycom brings to the customers, staff, and society. I am also impressed with the vision and leadership of Ms. Van Dang – CEO & Founder of Savvycom, and look forward to working with the team and every brilliant mind behind the Savvy-Codes.” – said Mr. Alex Lang on his decision to join Savvycom.

Please join us to welcome Alex as we look forward to exploring countless possibilities together soon!

From Tech Consulting, End-to-End Product Development to IT Outsourcing Services! Since 2009, Savvycom has been harnessing the power of Digital Technologies that support business’ growth across the variety of industries. We can help you to build high-quality software solutions and products as well as deliver a wide range of related professional services.

Savvycom is right where you need. Contact us now for further consultation:

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DeFi Lending Platform Development Guide: Essentials, Building Process, and More

The interest in Blockchain is growing among experts of different business domains, especially Fintech ones. Such an interest results in more innovative software solutions appearing on the market. Moreover, prominent lending models like peer-to-peer (P2P) payments are enriched with new features.

We’ll talk more about P2P payments and DeFi systems as a way to transfer them. Furthermore, you will find out the advantages of DeFi lending and borrowing platform development, the creation stages you should pass through, and many other essentials.

Working Model of DeFi Lending

The lending process has been existing since the birth of money relationships. From those times, two traditional types of loans, such as collective and investment property one, turned into a peer-to-peer (P2P) lending model.

One of the P2P distinctive features is that it allows borrowers and lenders to collaborate through an online P2P platform instead of applying to banking establishments as traditional mediators in such relationships. As a result, both parties receive their benefits. Borrowers can quickly access the required funds without banking bureaucracy and investors have simple access to direct funding with better terms and a higher interest rate.

The Internet has significantly changed the scope and possibilities of P2P lending relationships: lending companies have got an opportunity to create online marketplaces that can serve as mediators during borrowers’ and lenders’ collaboration. The transaction is based on the borrowers’ credit histories as well as the underlying assets (if any) that support the loan.

Blockchain technology has put significant adjustments into the fintech sphere. Thus, the developers can use Blockchain to solve the problems concerning the existing banking systems, and DeFi lending platform development is one of the efficient solutions of such type.

The DeFi lending and borrowing platform development means creating a system equipped with a set of financial tools helpful for users to access funds without the necessity to collaborate with banks, exchanges, or brokerages. All the activities, such as lending/borrowing, cryptocurrency trading, interests earned in saving-like accounts, etc., will be performed with the help of the Blockchain-based smart contracts. One of the most distinctive features of DeFi is that it’s free from centralized management, which typically controls transactions made.

These systems function as follows:

  • Launching the process, the borrower puts up the crypto assets as a security.
  • The platform offers loans based on automated smart contracts use.
  • The borrowers have a distinct interest rate to pay, and the lenders receive that interest.

Working on the basis of the DeFi lending protocols, such platforms simplify the P2P cooperation between their users. Moreover, the DeFi platform benefits borrowers and lenders: the first ones can get a loan as usual, and lenders can earn money by giving crypto asset loans in collateral. DeFi also offers high interest rates for long-term investors.

Furthermore, the Decentralized Finance platforms are easy to use: everybody can become a borrower, having signed up and linked their digital wallets to start using a platform. That’s why its popularity grows, as well as its market, which reached $159.24 million, according to TheNewsCrypto. So, the DeFi lending/borrowing platform development is in demand now, and we’ll find out why.

Who Can Benefit From DeFi Lending and Borrowing Platform Development

DeFi borrowing platform development is a powerful tool to change the future of the fintech industry. The financial services are rendered in digital form — more secure, entirely open, transparent and accessible. Decentralized finance lending enables borrowers to obtain assets without the use of mediators. A lender can use a decentralized platform to stake their coins, and a borrower can take out a loan directly.

Let’s talk more about the most common benefits from DeFi use.

Cost-effective operations worldwide. Due to the absence of intermediaries, DeFi offers to users minimal or no operational costs for the services rendered, as well as the beneficial currency exchange. Such an advantage can be widespread around the world since the DeFi protocols and platforms are dispersed among the worldwide available blockchains.

Easiness of a service rendering. Blockchain allows every user to securely operate funds without a third-party institutions’ assistance. It is available thanks to the decentralization principle, which gives a simplified access to financial services for everybody, democratizing the fintech industry.

Network data transparency. The DeFi system data is opened for public monitoring; so, the information about the Blockchain network activity is accessible for everybody. DeFi solutions also use cryptographic algorithms to authenticate the validity of data before it is recorded. Such transparency can demonstrate that a company operates honestly, attracting additional investors.

Improved market efficiency. Operating with DeFi crypto assets makes lending and borrowing automatic. It can cut costs, speed up financial flows and increase the option number.

Complete funds control. Users have ultimate control over their earnings and how it is used. For instance, DEXs and DeFi trading platforms allow you to trade whenever you want and choose your own partners for trading. Centralized platforms, on the other hand, require you to deposit your assets before trading and trust the exchange to keep them safe.

DeFi system composability. The DeFi apps and protocols can exchange data without a signup required. Due to that, the DeFi solutions can be assembled like LEGO details. That’s why they are sometimes called Money LEGO.

Decentralized financial platforms help users gain total control over their funds and transparently manage them without any effort. Let’s find out what features such a useful system needs, and how to create one in a DeFi lending/borrowing platform development company.

Features That DeFi Platform Should Support

Planning the decentralized finance platform development, one of the first things you should do is to create a feature list for an upcoming platform. We’ll talk more about the basic features you should include to your perfect DeFi solution with the help of DeFi lending/borrowing platform development services.

Borrowing and lending are necessary to compensate for the collateral ratio, cryptocurrency assets as well as demand and supply ratio. Keep in mind that lending and borrowing operations are the very things customers would join your platform, so you have to duly care about their proper functioning.

Flash loans let customers pay back loans, take it out with no collateral to manage smart contract-automated transactions or execute arbitrage transactions.

Crypto wallets should be provided for proper depositing of customers’ assets. You need to have several ones or a branded crypto wallet possessing additional value for DeFi system users. Moreover, it should support a variety of tokens and stable coins.

Fiat on-ramp feature enables users to exchange fiat money for traditional crypto (usually called fiat currencies, while others are called non-fiat ones). Moreover it gives an opportunity for newbies to start their activity on platform regardless even with no cryptocurrency assets.

Governance should be provided to users for getting rights to vote on future system’s upgrades.

Customer dashboard should be reinforced with self-explanatory and seamless controls for convenient user administration.

You can also care about liquidity pools implementation and security features realization and ask a DeFi lending/borrowing platform development company to include them in the solution’s functionality. Advanced features that can be provided may include yield swaps, credit delegation, staking and so on.

How to Build a DeFi Lending Platform

Regarding the increase of the DeFi lending platforms’ popularity among the fintech institutions, there are a lot of entrepreneurs that want to develop such a platform for their business. We’ll tell you about the typical DeFi crypto lending platform development. The typical Cleveroad software creation lifecycle is given as an example for more clear understanding of the subject.

After a first contact, brief aim discussion and protecting your app idea by Non-Disclosure Agreement (NDA) signing, it’s a high time to pass through pre-sale activities.

Discovery Phase

The purpose of our discovery phase is to gather your requirements, like DeFi protocols and functionality to include, third-party services to integrate, and platforms to use — web preferred. You should also think about rates and fees for the future platform and what Blockchain to choose. If you doubt, the experts can consult you due to these questions and help you choose the required technology frameworks or prioritize functionality as to ROI expectations.

Moreover, our professionals research project requirements, complete required paperwork, mitigate any hazards, and arrange meetings to address business goals and user/tech requirements. They also review the list and advise which features to remove or keep to launch faster — but the final decision is yours.

At this stage, our team also prepares a rough estimation, the team composition for the project, and writes a specification. Our designers create visual concepts and design the main page (if it’s a web product) in different styles, colors, and wireframes. You revise them and pick the most appropriate version.

Design and Development

UI/UX designers work on a prototype before coders go to work. It’s built on the wireframes that were developed during the discovery phase of DeFi lending platform development services. The team starts with only a design concept and then builds the UI for a product screen by screen in different variations. We also generate a style guide with all of the information that designers and developers could want, such as colors, gradients, and font.

This is one little tip to consider: the future DeFi platform should be flexible enough to host more features that would be added later. Then, the UI/UX designers check the results of their work with dapp developers to ensure that everything prepared is technically ok.

After you’ve approved our work, the UI/UX designers hand over the project to the developers. They work, according to Scrum methodology as a part of the Agile development model, in sprints — 2-week intervals for completing an intended part of project work. Each of the sprints starts with planning a work scope and ends with a discussed project part delivery.

The developers should also care about DeFi protocols implementation predefined earlier on the discovery stage. It can be the following ones:

  • Aave is a well-known open-source lending protocol that has switched from the DeFi P2P lending concept. Customers can borrow money without a collateral lock for a limited period, alter rates, and take advantage of a variety of other benefits.
  • Dharma is a DeFi lending protocol enabling users to perform borrowing or lending DAI or USDC at different interest rates.
  • Compound is an open source DeFi protocol allowing users to earn interest and borrow assets against collateral on the Ethereum network. You don’t need to verify your identity using Compound; moreover, you can give or borrow money without a restriction.

Testing Phase

QA engineers examine the functionality generated during each sprint and work on a project until it is released. They test both the backend and the frontend and then provide reports for software engineers to use in bug fixing. After the completion of the sprints, they also conduct regression and stress testing to understand how the system would perform under high stress.

Release

The team is ready to deploy the product after regression testing and resolving all QA concerns. Developers must create hotfixes if serious issues are discovered.

On the day of the release, we move the web project to the live server or, if it is an app, we assist with its publishing on marketplaces. When you’re satisfied, the team gives you the project materials, such as:

  • Project requirements (the document link)
  • Design (Invision/Zeplin link)
  • Change request/project plan/risk register (link to the doc)
  • Source code, etc.

Support and Maintenance Phase

Our collaboration does not end after your DeFi platform is released. We may keep working on it to make numerous modifications based on user input and maintain your solution with new features and upgrades. It is gained with the help of error correction, code optimization, and other operations.

We described a typical DeFi project workflow; however, you should understand that you need to find a competent software development provider to make a DeFi platform development seamless and obtain a profitable end product.

Choosing a Vendor For DeFi Lending/Borrowing Platform Development Services

Collaboration with a skilled software development vendor knowing all the ins and outs of the Blockchain technology implementation into your software will be beneficial for your project development. Keep in mind that finding a partner for productive DeFi lending and borrowing development services will be easier if you stick to the points described below.

Select A Proper Cooperation Model

Looking for a software provider, the client should understand how to build the future relationships with the tech partner. IT cooperation models are the very things to establish communication between client and vendor.

We explain the most common cooperation models typically offered by Cleveroad.

Time & Material

The IT professionals can estimate the scope of a project and start working without being acquainted with the precise workloads. The project workflow as to Time & Material contract is the following:

  • The demo is prepared, tested and sent to customers along with checklists, sprint reports and other documents.
  • Customers look through the documents and give feedback.
  • The specialists analyze the obtained feedback and discuss it while planning the next sprint. Moreover, they prepare a list of changes needed by clients, document them and make time estimations each modification would take.

Change requests sent during the current sprint are addressed to the next one. A work bill is submitted only for the DeFi borrowing platform development we’ve completed.

The distinctive features of Time and Material cooperation model:

  • It’s especially cost-efficient for large projects with changing needs.
  • Each sprint is planned transparently, being discussed with the client in detail.
  • The T&M workload is flexible: you can easily manage the work scope of your team.

Fixed Price

A fixed-price contract means a one-time payment for well-defined scope of work and deadlines, along with comprehensive estimates and project requirements. However, to ensure suitable end outcomes, clients may communicate their clear vision of the product with developers.

What is beneficial in a Fixed Price Model?

  • Specific criteria and deadlines; workload is planned and calculated ahead of time.
  • Customers with restricted budgets, MVPs for startups, and small projects with limited scope will highly appreciate this model.

Dedicated Team

A dedicated team approach is a good option for complex and large projects. You may simply scale up your internal departments with more employees, or put up an agile team for a new project or software update. The vendor company in turn, will provide you with a substantial technical competence, a large pool of skilled personnel, and a non-disclosure agreement (NDA) signing per your request.

However, keep in mind that the provider assists only in organizational issues; and you have to control the DeFi borrowing platform development process and its administration.

Why pick a Dedicated Team Collaboration:

  • Get total control over dedicated team developers, workflows, and well-established communication protocols with complete transparency.
  • A specialized team may be scaled up and down as needed and incorporated into current development procedures.
  • It’s simple to distribute resources, and obtain essential technical competence at a low cost.

Decide What Region is the Best For Cooperation

App development cost is one of the most disturbing issues for entrepreneurs when they need software creation for their business. If the in-house team’s services are too expensive to pay for, the companies may pay attention to outsourcing cooperation. Country choice is essential to make this cooperation a long-term one.

Below we’ll list the main criteria you should consider selecting an outsourcing region.

Differences in culture and language with your future partner will be a serious obstacle if you won’t do serious homework. First off, especially considering offshore outsourcing, you need to make sure whether the personnel properly speaks English, writes, and understands it.

Moreover, the cultural issue should also be precisely investigated. The customs and traditions of each region are unique, so you should deeply research the habits and lifestyle to avoid any unpleasantries. Bear in mind that you should also care about understanding each other on a business level.

Hour zones should be highly appreciated while selecting an offshore destination. If your hour zone differs from your partner’s one for a few hours, it typically won’t be a problem. However, such a difference would be a problem if it isn’t overlapped: for instance, if you are from Estonia, and plan to work with a tech partner in China, the time difference is 6 hours. It means they end their working day while you’re just starting it.

A pool of tech talents is a significant benefit outsourcing gives to clients. Such benefit becomes available as some countries graduate top-quality IT specialists with perfect hard skills due to the exceptional education. However, you should remember that the perfect specialists you should look for must have a combination of hard and soft skills (e.g., flexibility).

Low pricing may draw your attention to certain geographic places, but this should not be the deciding element in your selection. Instead, consider service quality to be the most critical component in any outsourcing success formula, and make no concessions on it. Make sure you choose a nation that is recognized for its high quality standards and reputation for producing diligent specialists.

Finding a proper outsourcing destination while looking for a DeFi lending/borrowing platform development company is a question of a successful and productive cooperation that will fulfill your business needs. Don’t think you’ll gain your purpose having conducted a brief online research of the outsourcing region. Apart from the above defined points, your research should contain the country’s economic situation, IT infrastructure or legislation.

Evaluate Their Expertise

If your objective is to produce a robust and durable software that achieves desired results, you realize that your IT partner’s technical competence is critical. But such a check would be difficult if you’re a non-tech person. In this case you should find a technical pro (among your colleagues, as a variant) and ask them to check the following points:

Check client reviews

Almost every IT company website offers their customers’ feedback about completed work in collaboration. You can go deeper, looking through a company’s list of customers and directly contacting them. Moreover, you can visit such reputable platforms as Clutch, or ITFirms: they frequently publish ratings of the best IT companies along with reviews from clients. This way, you’ll get a more broad picture of the vendor you want to collaborate with.

Study their website

Look beyond the client feedback on the company website. Go to the portfolio section to carefully learn about the projects they worked with, complexity of the developed software and business domains it’s related to. Furthermore, don’t hesitate to look through their corporate blog to know more about their technological base.

Pay attention to their questions

An ideal partner will be involved and even brave enough to question your judgment and ideas – all in the project’s best interests. The chosen staff must be able to see issues before they get too serious, offer helpful advice, and suggest alternate options.

Ask them in turn

You can also interrogate them in the interview to know more about their activity (especially the DeFi lending/borrowing platform development). We’ve prepared a list of the common questions that can be offered to your potential tech partner:

  • How deep is your tech experience?
  • What is the size of your team? What kind of specialists do you have onboard?
  • Are you capable of delivering a product over the whole development cycle?
  • How likely are you to advise a friend or partner about your business?
  • How does information travel throughout your company? Do you leverage mentoring?

The IT outsourcing model offers all these points to your attention. You can find a reflection of all the described criteria in it, and develop a project profitably for your business.

DeFi Borrowing and Lending Platform Development Services From the Domain Experts

Borrowing and lending DeFi platform development is quite a complex and challenging task requiring a skilled vendor’s assistance. Cleveroad is the appropriate one, and we’ll tell you why right now.

This professional software development service provider, headquartered in Estonia, offers IT products for online payments simplification, financial analytics collection, as well as secure banking solutions and legal compliance. Being for 10+ years on the market, we have been providing our clients with mobile solutions for established businesses, and turnkey digital products.

Working with us, you will get:

  • DeFi lending and borrowing platform development services to create a top-class Fintech product perfectly fitting your business and meeting your company requirements and needs
  • Fast project development flow with no bureaucracy
  • Initial estimations for the project from our Sales Managers
  • In-depth consultations with our Business Analysts, Project Managers or other required professionals
  • A team of agile-oriented and certified specialists that will completely meet your project requirements and easily integrate into the current workflows
  • Accurate input requirements collection to correctly identify a workload from early stages
  • Qualitative support, maintenance and ads services after release for our customers, etc.

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Top 07 Mobile Banking Trends To Take Your App To The Next Level

Mobile banking is undoubtedly one of the most fast-growing industries on the market, where new trends appear every year aiming to simplify the process of sending and receiving payments. And with the heavy influences of the COVID-19 pandemic, mobile banking has received more attention than ever.

Every year, building a competitive mobile banking app is more challenging than before. In 2020, 1.9 billion individuals actively used online banking services, which is expected to grow to 2.5 billion by 2024. The number of users is rising, and the audience’s needs are becoming more and more demanding. 

In this situation, you are left with an unavoidable choice which is to follow the mobile banking trends. And in this article, Savvycom will show you the top 07 mobile banking trends shaping the industry and which you can use to perfectly match users’ needs.

What is A Mobile Banking App?

mobile banking trends 2

Before discussing the top 07 mobile banking trends, it is reasonable to clarify one crucial thing – what exactly is a mobile banking app? In my experience, many people have difficulty finding the differences between mobile banking and fintech apps since this difference is not apparent. So allow us to point out a few types of apps covered by the mobile banking category: 

  • Payment systems that help to carry out transactions online (for example, Paypal). 
  • Autonomous mobile banking apps help manage personal accounts, transactions, bill payments, etc. 
  • Analytical financial apps also provide personal financial analytics, category management of expenses, etc. 
  • Crypto or Stocks Investing apps (for example, Coinbase, Binance, Robinhood). 
Learn More On: Mobile Banking Application Development: Features & Cost

07 Top Trends Of Online Banking 2022

Now that the basics have been cleared out let’s look at the trends of mobile banking as they are now. 

1. User-Centric Experience 

mobile banking trends 7

 

It is no secret that during the last 15 years or so, all user-targeted services have undergone a revolution. The leading role in such services has shifted to users rather than the quality of service itself.

You do not have to build a super tech-savvy and complicated service to become a user’s favorite. Succesful Businesses nowadays gravitate towards a mobile banking app with convenient, including services that will allow users to complete their banking purposes efficiently, fast, and even have fun from time to time.

And in order to achieve this simplicity and smoothness, you need to follow the user-centered or user-centric approach. This is especially important when your target audience is Generation Z and Millenials, whose data is often more valuable than gold. 

2. Open Banking API

mobile banking trends 1

Another trend disrupting the industry for the last few years is open banking. This unique technology allows a bank to share its banking information via APIs (Application Programming Interface) to third parties (startups), who can use them to develop new fintech products, like financial analytics apps. 

Open banking API is currently on a break as many countries, like EU countries, India or US, are introducing open API regulations to streamline this process. Yet, many countries are only on the way to introducing open banking into their legislation. Anyway, this mobile banking trend is expected to shape the industry for years ahead.

Learn More On: Why Do Companies Outsource Software Development?

3. AI And Machine Learning

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There can never be an article about trends without AI and Machine Learning. The thing is that both these technologies are popular among all tech industries, and online banking is no exception. 

Both machine learning and AI allow developers to bring more customization to mobile banking and help to provide a better customer experience, which is the most important thing, as we mentioned earlier. For example, you could use AI on the front-end technologies to mimic live employees via chatbots, voice assistants, or personal recommendations.

4. Big Data

Big Data is a technology that allows the collecting and processing of large amounts of personal user information. Similar to AI and ML, this is widely used for marketing, sales, or enhancing user experience. 

While a mobile banking app tracks users’ activities in an app, by utilizing Big Data, the system may easily spot if something unusual happens. For example, if a significant amount of money has been cashed or deposited – or any other unusual behavior for a particular user. 

Learn More On: 10 Best Mobile App Development Companies In Vietnam

5. No Code/Low Code Development

This one is probably a gold mine for early-seed fintech startups. Especially, when you have limited time and budget for development, the best thing to do is build the simplest version of the product. In other words, a minimum viable product. No code/low code programs help you make a product’s MVP quickly and cost-efficiently and push the product to the market as soon as possible.

Looking For a Trusted Tech Partner?

We’ll help you decide on next steps, explain how the development process is organized, and provide you with a free project estimate.

6. Personalization

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Personalization is a less apparent mobile banking trend but no less critical. Today it is not enough to build a mobile banking app that functions well. Making an app specifically for a particular group of people is also essential. For example, a particular group that uses your app can be gamers, athletes, or animal lovers. Giving them something as simple as a corresponding wallpaper could be a smart way to increase users’ loyalty.

7. Gamification

User experience is the key to loyalty. Properly designed and deployed gamification elements make the user experience more exciting and smoother. Gamification makes banking an enjoyable experience of plays, wins, and rewards for, let’s say, taking a loan or making a deposit. You can start your gamification integrations by introducing achievement badges and reawards.

Have a Project Idea in Mind?

Get in touch with Savvycom’s experts for a free consultation. We’ll help you decide on next steps, explain how the development process is organized, and provide you with a free project estimate.

Fun facts: The History Of Online Banking

Here is a brief history of the most breakthrough developments in online banking. 

1983 

The first form of online banking appeared in 1983 when the Bank of Scotland allowed customers to connect to television via telephones and pay bills. Back then, the only functionality available to users was for them to access their profiles and review their private accounts.

1996 

This was when banking made a big step forward. The first actual internet bank appeared at this time – Atlanta Internet Bank. The bank paid higher than average interest rates for not having physical bank branches. 

2007 

This year became the distinguishing moment for online banking, as it signified a new stage in the history of communication. Apple launched its legendary iPhone, which influenced a lot of industries. Notably, it heralded the shift from internet banking to mobile online banking. Quick payments and instant access to accounts gained much traction among users. Since then, the online banking industry and mobile users are increasing yearly. 

Learn More On: Essential Guide To Software Development Services

Online Banking Now 

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After that, online banking went through colossal development. In 2010 it reached its peak when online banking officially grew faster than the internet itself! It was already evident that the industry needed more tech solutions to keep up with user requests. 

And this is how we came to be with mobile banking today – a fast-paced industry that integrates almost all the high-end technologies. As a result, today, it takes more than just an excellent product to make users like your product. It is less about the product itself but more about the user experience.

From Tech Consulting, End-to-End Product Development to IT Outsourcing Services! Since 2009, Savvycom has been harnessing the power of Digital Technologies that support business’ growth across the variety of industries. We can help you to build high-quality software solutions and products as well as deliver a wide range of related professional services.

Savvycom is right where you need. Contact us now for further consultation:

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The Full Guide on Application Development Outsourcing in 2022

According to statistics, there will be 7.10 Billion mobile devices users in 2021, which is 89.90% of the entire population. And the higher the number of mobile users, the more businesses start app development.

The price for the from-scratch business app is quite high. Especially if it is aimed at both platforms — iOS and Android. So many startups consider “should I outsource my app development?” whereas many of them have already applied to this option. Outsourcing cost is lower, yet, the quality remains perfect. Still, choosing outsource app developers is a pretty complicated process.

This guide will explain how to outsource an app in 2021, considering all the peculiarities, challenges, and tips.

Mobile App Development Outsourcing Options

Let’s begin with figuring out what mobile app development outsourcing stands for. Basically, it means delegating the creation of cross-platform apps for smartphones and tablets to another country.

For iPhone app development outsourcing, the two main programming languages are used to build an iOS solution: Swift or Objective-C. As for Android, it’s Java or Kotlin. In fact, the aim is to outsource mobile development to programmers who have experience with these languages and a portfolio to prove it.

Besides, cross-platform app building provides a variety of solutions for product development. Primary technologies for such apps are CSS, HTML5, and JavaScript. The most convenient and efficient framework to develop software for the two platforms simultaneously is Flutter.

Now, an in-house team that works from your office is the primary (but not the only) option. It provides easy team management since all the employees are gathered in one space. What’s more, it is suitable for widescale product development with further maintenance and support since developers are acquainted with the app from a seamy side.

Nevertheless, this variant’s price is the highest, comprising a wide range of extra expenditures, and requires lots of your responsibilities to control the team efficiently. In case you have a limited budget, but still want to create a qualitative product, outsourcing is here for you to offer a more cost-effective option. Besides, you may adapt existing templates to your solution.

Let’s observe more beneficial product creating options, such as mobile application development outsourcing and adjusting existing software:

  • Going off with an off-the-shelf software solution
  • Hiring freelancers
  • Applying to offshore software development companies

Main peculiarities of the product creating options:

Off-the-shelf software

This option implies using readymade software aimed at a mass audience comprising multiple solutions to users’ requirements. It should be integrated with your objectives.

Pros:

  • The cheapest solution
  • The fastest time-to-market, since it’s a ready-to-use solution
  • A broad spectrum of features from the start as it is aimed at an extensive target audience

Cons:

  • Requires a tech-savvy specialist who will wrap the software up
  • May appear to be inflexible and inadaptive to particular business purposes and targets
  • Complicated to adjust it to another platform if you decide to change it
  • May comprise unnecessary additional features
  • Lack of customized UI/UX design, which can be too ordinary
  • Inability to make updates depending on the market analysis

Freelancers

You may apply to freelancers who will create an application for you using resources like UpWork, Freelancer.com, Guru, and Toptal.

Pros:

  • The services of these specialists have quite a low cost
  • Efficient solution for simple one-time tasks
  • Freelancing websites are full of talented and executive specialists who will eagerly solve your tasks

Cons:

  • Narrow specialization of freelancers (cross-platform app development requires hiring at least two of them)
  • No quality assurance testing; as a result, no guarantee in app performance
  • No guarantee of receiving any product at all as well
  • The time difference may bring certain inconveniences
  • Difficulties in hiring since you have to be competent enough to select an expert

Offshore company

One more method to create a mobile solution is to outsource development (as a rule, with help of offshore companies).

Pros:

  • The mobile app outsourcing company has a complete team that incorporates all the essential experts ready for fruitful cooperation, so there’s no point in conducting interviews
  • You may receive help with any task from development from scratch to support of the existing product
  • Every credible application development outsourcing company shares estimates, specifications, Sprint reports and asks to sign a contract with each client
  • The whole workflow management is taken over by the Project Manager, so there’s no need to bother about operating and guiding the team
  • You’ll work with tech experts with a variety of skills and technologies required for a successful application outsourcing — iOS, Android, Flutter

Cons:

  • Higher costs compared to freelance developers
  • Due to the region of application development outsourcing company there may appear cultural gaps (like in India or Asia)
  • Slightly sower communication in comparison with the in-house team
  • The possible time differences may appear due to the company’s location

The final choice of how to outsource app development depends on the type of app you’re developing, its complexity, and your budget. But if your goal is delivering complex, large-scale projects like educational or social app development, applying to mobile outsourcing and having a full team is better than a bunch of freelancers.

Management is also a huge advantage in application development outsource. A complete team and a Project Manager who monitors their progress and reports directly to you. Whereas the PM manages the specialists, you can concentrate on your business, for example, training in-house employees, attracting investors, or preparing a pitch presentation.

Advantages of Application Development Outsourcing Companies

Let’s consider outsourcing custom mobile app development in detail, particularly offshore development because it is profitable, efficient, and convenient.

1. Hire fast, start fast

You have an opportunity to speed up the time-to-market by choosing to outsource app building. That’s because all the necessary specialists are already hired, and their skills are checked accurately. Every needed app developer is gathered: mobile and back-end experts, QA, DevOps, and UI designers, which offer excellent app design outsourcing. You cooperate with a complete team with experience in similar projects; participants know each other, and follow the same company culture. Thus, you are free of conducting numerous interviews in search of the best of the best. You simply need to form the necessary requirements.

2. Responsible partner

Outsourcing software development companies take over all the responsibilities and challenges of management and the entire workflow. So you won’t deal with guiding the workflow, leave it for the Project Manager, who is a professional in such questions. The primary thing is to prepare maximum details of the product requirements.

People in business commonly believe that the higher are expenditures for the mobile app development services, the higher their quality. Besides, the workflow involves a diversity of essential specialists, the number of which is not small and can impact the cost.

3. Cost-effectiveness

Outsourcing companies kill two birds with one stone: they offer cost-effective excellent software engineering services which will be provided by high-class experts. So, the product and performance quality remains brilliant at a lower price.

Needless to say, that outsource application development offers lower costs in comparison with in-house. Yet, the final price is indicated by the country and hourly rates of your outsourcing application development company is located in.

To illustrate, when applying to mobile development outsourcing from the USA to Canada or Australia, it won’t make much cost difference. IT companies with headquarters in the USA charge $100-$199/hr, and in Canada, they charge $100-$149/hr, according to Clutch.

However, hiring a tech vendor from Belarus, Russia, or Ukraine, will drastically change the situation. Instead of paying a $106,232/yr salary to your Swift developer from the US, you pay $26,400/yr to a middle-level Swift developer from Ukraine.

Outsource app development cost is decreased, but we can observe the success of created solutions on the following examples: Grammarly, Depositphotos, Terrasoft are high-quality outsourced application development projects which are in use around the world.

4. No hidden payments

Outsourcing app companies require payments only for completing the task with no equipment, and office rent. Moreover, there’s no need to pay for sick-a-pays or leave days. You are aware of the set and heretofore negotiated cost covering the purpose of each contributed cent.

5. Extra services for startups

The cost of outsourcing mobile app development extra services is much lower in Europe or Asia than in the US or Canada. Outsource mobile app development companies often provide extra services—make business analyses, prepare specifications, wireframes, and clickable prototypes. Investors will be more engaged in your project if it has something more than a pitch presentation to send them. This is helpful if you would like to impress the investors but can’t afford MVP.

Now, if you do have money for MVP, it’s often faster and cheaper to apply to offshore mobile app development. Show the MVP to your investors, get funding, and hire an in-house team if that is what you need.

6. Further product maintenance

Another essential post-released service is app maintenance and support. Outsourcing companies have flexible cooperation models, one of which is building a long-term partnership. Specialists are acquainted with your application from the inside, so they will easily cope with such an easy task as product support. Its price varies approximately from 15% to 20% of the whole app creation cost. App maintenance incorporates the following services:

  • Bug fixing
  • Code optimization
  • Newest OS support
  • New features implementation
  • Last third-party integrations last versions support

How to Outsource Mobile App Development Without Risks

Offshoring application development has certain peculiarities, which you should also consider when choosing this option. This part discusses the challenges of offshore mobile app development and what you and your outsourcing partner can do about the latter. There are some common efficient solutions, so let’s see how to outsource mobile app development and overcome all the arising challenges.

1. Slower communication

If the time between you and your application development outsourcing company differs for more than ~10 hours, communication may slow down a bit. In fact, such time gaps may freeze the outsourcing development if the vendor has some questions that need your approval.

We faced the same issue while working on the RetailOps project. Our customers live in the USA, and we had to deal with a 10-hour time zone gap. But this drawback of mobile application outsourcing isn’t hard to overcome — we solved it by making an individual schedule of meetings to keep in touch with product owners.

Solution: Whether you outsource iPhone app development or Android, you should apply services to keep up with the team. To coordinate the meetings and checkpoints with the Project Manager; use messaging apps like Slack or video calls like Skype for instant communication.

2. Cultural gaps and misunderstandings

Where to outsource app development is an integral question predetermining the quality of the final product, price, communication, and many other aspects. Another issue that may prevent productive cooperation is cultural gaps and incomprehension. You may face it by choosing to outsource mobile application development to Asia or India. Employers of these countries sometimes don’t ask for any clarification and say ‘yes’ to each request only to please you. Which slows down and disrupts the entire app development outsourcing process.

That doesn’t mean devs from Asia or India are not hard-working or make bad products. That means you need to put extra effort to develop relationships.

Solution: If you can’t cope with differences, outsource to regions like Western or Eastern Europe. Their cultural realities are alike in the US and Canada, and the teammates speak English fluently.

3. Unreliable tech vendors

When you outsource mobile development to a company located 5,687 miles away, you can’t rush to their office and get an idea of how they work. Some outsource app building companies may require too much money; some—demonstrate fake portfolios and customer reviews.

Solution: It’s not hard to cope with the risks of app development outsource by reviewing vendors’ websites and discussing with their managers. That’ll show you an overall idea of their communication and if they’re eager to become partners with you.

At Savvycom, we offer three main types of contracts — Time and Material, Fixed Price, and Dedicated Team. And always sign NDA if our clients request it.

App development outsourcing risks are not hard to cope with—just agree on tools you’re going to use and the region where your development team lives. Plus, spend enough time checking the information on outsourcing the company’s website.

How to Choose a Credible Software Vendor

Here are the initial steps to find a credible partner among the ocean of mobile app development outsourcing companies:

  • Checking rates and reviews. Start searching for the best partner using services like Clutch or GoodFirms. These sources provide you with verified rates and reviews for each mobile app outsourcing company.
  • Domain expertise defining. Try to find outsource mobile app development companies which have a wide experience in developing products for your niche. Thus, the team will already know how to cope with certain challenges and peculiarities of a solution for a specific field.
  • Reviewing a portfolio. Another helpful tip is checking vendor’s portfolio — not only look through their website but download their apps and see how and what projects they have already worked on.
  • Signing a contract. Always sign a contract before the development starts — if you want to avoid sharing the details with third parties, there’s an opportunity to sign an NDA (non-disclosure agreement).

In-house vs. Outsource App Development: Comparing the Costs

Communication matters, but sometimes it’s the cost that decides. You can see calculations defining that outsource web app development is more cost-effective than hiring an in-house team below.

Let’s use fitness app development as an example. Our product will include two apps—one for Android and another for iOS devices. Plus, custom UI design and the back-end part.

An outsourcing fitness app development company will only give you a rough estimate of your workout app development cost based on their previous experience with similar projects at first. After you’ve gone through the concept validation and UX strategy stages of development, they’ll be able to give you an accurate estimation. Regardless, here at Savvycom we’ll talk about the price.
Your minimum app development team for a fitness app should include:

  • QA engineer
  • Project manager
  • UI/UX designer
  • iOS developer
  • Android developer
  • Backend developer

So, how much does it cost to make a fitness app? Fitness App Development cost on average is $63,770, based on a $35 hourly rate and 1822 hours of work. But that is just for MVP (Minium-viable-product), contact us to get your free consultation now!

Why Outsource to Savvycom

Savvycom is an outsourcing company that provides software development services for 10+ years. We build mobile and web apps, provide UI design and QA testing services to clients all over the world. By outsourcing development of your app to our company you will receive the following advantages:

  • Savvycom is competent in a wide range of fields, like healthcare, e-commerce, travel, etc.
  • We deliver excellent software engineering services to every customer by implementing all the required features and ideas
  • Our company offers full-cycle development and assured product quality
  • The team consists of top-notch specialists with a creative and problem-solving approach

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A Complete Guide to Nearshore Software Development

It’s official: in-house teams are becoming less vital for businesses. Modern companies are open to hiring outsourced development teams. In fact, they often delegate some projects to freelancers, not only other companies. Outsourcing helps them save costs, time, and stay productive.

On the other hand, outsourcing may bring some troubles — language barrier, timezone issues, and poor management. In this post, you’ll learn the pros and cons of nearshore software development and ways to deal with possible issues.

What Is Nearshore Software Development?

Nearshore outsourcing means that you delegate software development or certain tasks to companies located in geographical proximity to your country. When you hire a nearshore company, the difference between you and the contractor should be from 1 to 3 hours. This way, you have minimal time difference and no communication barriers with a contractor.

Besides, personal visits are no longer an issue. For example, a flight from Berlin to Tallinn takes two hours. So, if you’re hiring a team from Central Europe it’ll take you a day or two to take a plane to Estonia, discuss a project with the development team, and return back home.

Why Consider Nearshore Software Services

Despite obvious advantages, nearshore outsourcing may not suit every company. Underneath, I’ve spelled out the indicators telling that your company should consider nearshore outsourcing.

Budget Limitations

If you’re on a budget, nearshore software outsourcing is a great option for cutting some expenses as there may be no affordable providers in your region.

On the contrary, if you’re not limited in budget for hiring software engineers, you may want to consider expanding an in-house team with more talents. In any other case, nearshore software development companies will be the right choice.

Plans for the Future

Sometimes it’s better to have your own team of developers. If you’re planning to build several applications, teamwork gained during the first project can play a vital role throughout the development process. However, a single project doesn’t require you to keep a full team under the roof of your office. A nearshore development team can build an application and maintain it as long as you need. So, there’s no need to spend costs on office rent and salaries.

Location

Among all of the outsourcing approaches, nearshore development depends on your position the most. While choosing an outsourcing company, you should take into account the number of qualified specialists in the country.

For example, if you’re an entrepreneur from Norway and looking into outsourcing, you’d be better off hiring an Estonian nearshore team rather than some Indian or Philippine offshore company. The reason is that Estonia is only an hour ahead of Norway, while India is 5 hours, and the Philippines 7 hours.

Lack of Developers

When working on a huge and fast growing project, chances are you’ll need more developers. Nearshore outsourcing is a good option in this case. You can delegate a part of the project to an outsource company for taking the load off your main team. Outsourcing was key to the success of some well-known companies. I’ll cover some examples later on.

Advantages of Nearshore Software Outsourcing

As you can see, nearshore software outsourcing has great potential and can be a way out for a number of companies. So it’s high time to outline the advantages of nearshore software outsourcing.

Cost-Effectiveness

That’s not a secret that businesses apply outsourcing methods to cut expenses. What’s more you don’t have to hire developers, pay wages, rent an office, and provide employees with hardware and software. Due to the fact that common outsourcing countries are developing ones, the pricing can be significantly lower than in developed countries.

Closer Collaboration

Another advantage of cooperation with a nearshore software company is a short distance between both of you. With the development of technologies, the world’s becoming smaller and you can solve most of the problems via phone. But sometimes your physical presence may be required, so there’s no other choice but to book a flight to your partner. However, Western European entrepreneurs can take a flight to Central European associates in 2-3 hours.

In addition, nearshore companies are a great option for those who want to hold meetings or arrange online conferences often.

Similar Regulations

While building an application, you will face some regulations you have to comply with. For example, if you are focused on the European market, you’ll have to follow the GDPR (General Data Protection Regulation). There’s another set of rules for residents of California called CCPA (California Consumer Privacy Act). Remember: make inquiries if the company knows how to comply with the required policies!

Before drawing up a contract you have to make sure that company knows how to follow the rules defined by your region. Violating CCPA and GPR can lead to heavy fines, so take this point very seriously.

Minor Timezone Difference

Alongside geographical location comes a difference in the timezone. If you ever heard about offshore development, then you should know that the time gap may become a problem. Clients from the USA often can’t get in touch with Project Managers from India or the Philippines.

When the clock shows 9:00 AM for the US citizens, Indians are already leaving their working places because it’s 6:30 PM for them. Thus, communication issues may happen.

Things are completely different with nearshore software development services. Washington, DC, is only two hours ahead of Mexico city. Difference is even less for Сentral and Western European countries with the difference in time with Kyiv of only one hour. Thus, you can hold online conferences in a suitable time for both sides, and you won’t experience jet lag after long flights.

Experienced Talents in No Time

Actually, this advantage can be applied to any outsourcing type, but still. The point is you don’t have to spend weeks looking for qualified talents among all of CVs. These actions require you to have an HR department.

The nearshore software development means that the provider already has a team of nearshore software developers who have worked on multiple projects together. It kills two birds with one stone: communication between team members and working experience.

If you need more programmers for development of additional features, nearshore software companies will allocate more talents as you scale.

Disadvantages of Nearshore Software Services

Despite all the positive sides of nearshore software development, there are some drawbacks as well. But, nothing can be flawless, right?

Offshore Outsourcing Is Cheaper Than Nearshore

Leaving all the negative points of offshore aside, it still provides the lowest rates. Depending on your location, you can still find affordable options that can match the price of an average, but this will rather be an exception than a rule. So, if there are no cheap providers in your region, you should think about hiring an software development company.

Lack of Companies

If nearby countries aren’t IT-oriented, you’ll be able to hire an experienced offshore software development company.

Sure, any country has its software development companies, but the quality that no-name companies deliver will be quite different from well-known outsourcing destinations like Estonia or India. That’s why it’s better to choose an offshore company with a number of reviews than a questionable nearshore provider.

Periodic Monitoring

That’s a common flaw for outsourcing. Since you’ve hired a remote group of developers, you have to get in touch with a contractor from time to time. Luckily, it’s relatively easy to hold meetings with nearby countries. At Savvycom, we always arrange our conferences on the time appropriate for our customers. However, if some issues require your physical presence, flights can still be exhausting and time-consuming.

Top Favorite Examples of Outsourced Software

Outsourcing is a universal practice. Even the world-leading companies hire outsourcing companies to save funds and properly distribute the load on in-house developers.

Skype

Back in the days when Skype was taking its shape, founders used a nearshore software development model for backend and website. Features we love the most, like video conferences, message, and file transferring were actually developed by the Estonian group of developers. This approach made Skype the primary tool for business and personal conferences over the world.

Slack

Another outstanding example of nearshore outsourcing is Slack. This software simplified corporate messaging for a number of companies, but it lacked an attractive design. So, it was decided to hire a Canadian design company for creating a logo, web, and mobile app design. Now Slack is considered to be the app that feels, looks, and sounds different. The combination of delightful design and useful features resulted in a global revenue of $401 million.

Opera

Opera originated as an internal project of the Norwegian telecommunication company — Telenor. Soon after the release in 1994, it became a standalone project with its own company and rights. The most interesting thing is that Telenor didn’t focus the efforts of the main office on this project. Opera was written in C++ by developers from 24 different locations all over the world. Telenor used outsourcing to cut the losses in case of failure. But it turned out quite the opposite, Opera became one of the top-rated web browsers in the world.

It’s clear that nearshore software services reached far into the IT industry. The advantages of nearshore development are too significant to ignore. The only thing you have to do is to find a reliable provider that’ll fulfill your expectations.

Savvycom Expertise

Savvycom is an experienced software development company with headquarters in Central Europe, Estonia. Our competence comprises delivering top-quality software solutions to startups and all-scale businesses using cutting-edge technologies for 10+ years.

We provide IT-related services and digital products creation from scratch. They help our clients optimize workflow productiveness, overcome companies’ internal challenges, and obtain competitive benefits. By choosing us, our partners are ensured with a row of benefits:

  • Free initial project estimation with no hidden payments or additional fees from our Sales Managers
  • Three flexible cooperation models suitable for every case: dedicated team, fixed price, time & materials
  • Rapid software architecture process’s elaboration
  • Product quality assurance and control at every creation phase

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