Why Sri Lanka is considered as an ideal Outsourcing Destination
Outsourcing development services and business processes keep gaining continuous popularity among businesses across the globe. One of the key reasons why businesses decide to outsource is to increase profits and economic efficiencies. Moreover, outsourcing uplifts the distribution of global job opportunities from developed countries to developing countries. This eventually leads to the strengthening of international ties between countries. Among the list of most preferred outsourcing destinations in the world, Sri Lanka ranks high as a result of many reasons. As discussed in the article published in Oxford Business Group, Sri Lanka continues to thrive as an attractive outsourcing destination for IT-BPO services. So what does Sri Lanka offer as an outsourcing destination to gain continuous popularity among the world?
Sri Lankan working culture
The exquisite working culture and friendliness portraited by Sri Lankans are common features widely discussed. Sri Lankan young professionals are quite popular for their courtesy and hardworking nature. The interactive mindsets of Sri Lankan resources and the vibrant working cultures are prominent aspects that Sri Lankan outsourcing companies focus on continuously improving to increase the potential of attracting more opportunities to the island. Likewise, the learning and development programs conducted by these firms are largely oriented towards acquainting their resources with values, work ethics, and exceptional skillsets.
The higher literacy rate leads to better competencies
Sri Lanka consists of a strong education system that continuously produces young graduates from more than 17 local universities. Moreover, the fresh resource output is further amplified by foreign university-affiliated branches and vocational training centers in the country. The IT industry that generates a sufficient portion of foreign currency income to Sri Lanka is enormously leveraged by the skilled technical resources that yearly pass out from the educational institutes. These technical resources are well-groomed with sufficient industry experience to perform better in their careers. Therefore, Sri Lanka’s high literacy rate and competent resource output predominantly impact the development of the country as an outsourcing destination.
The quality of work
Better competencies, skillsets, higher work values, and ethics undoubtedly impact the higher quality of work. The working experience developed on top of the strong educational foundation are the two main elements that improve the work quality of Sri Lankan resources. Additionally, the international quality standards and best practices that outsourcing firms comply with, assure the consistency of the quality in their work. Even the small-scale software development companies in Sri Lanka have the potential to attract this diversely skilled workforce that is abundantly spread across the island since there are not much of large outsourcing firms that absorb all the quality talent in the country.
Ideal business environment
Sri Lanka is the home of more than 350 software development firms and BPO firms that provide employment for a workforce that exceeds 85,000 people. The gradually developing ecosystem of IT companies plays a major role in uplifting the economy by attracting foreign business partners and strengthing the employment opportunities for local talent. Most of the Sri Lankan tech firms are falling under small to medium scale companies. Regardless of size, these tech firms collectively contribute as an ecosystem that facilitates an ideal business environment that attracts foreign business opportunities. Likewise, the Sri Lankan government continues to provide consistent support via bodies such as SLASSCOM and Sri Lanka Export Development Board.
Best cost structures
One of the most prominent features that Sri Lankan outsourcing firms offer would be the cost-effective pricing structures based on the requirement, convenience, and capability of partnering business ventures. The competitive pricing strategies compared to nearshore outsourcing companies have been one of the major reasons why Europeans choose Sri Lankan firms as their development services outsourcing partners. Additionally, the engagement models that Sri Lankan outsourcing firms offer are capable of drastically reducing and eliminating certain HR-related costs and delays incurred in the recruitment of resources. Whenever urgent resource requirements arise, the firms are quite flexible in instantly scaling up to match resource requirements.
The tropical ambiance of the island
Adding up to all the business-oriented advantages, Sri Lanka’s mesmerizing tropical ambiance is truly a great experience one must have in life. As a result of this humongous tourist attraction, Sri Lankan tourism stands in the top few revenue generators in the country. Likewise, it is a fact that foreign clients who work with Sri Lankan outsourcing companies pay mandatory visits to Sri Lanka just to develop strong bonds with their offshore development teams and enjoy the sunny beaches.
Why Softvil Technologies
Softvil Technologies is one of the leading software development outsourcing service providers in Sri Lanka that stands out among the other tech firms in the industry. The tailor-made cost structures and the variously skilled workforce available for outsourcing services are two of the most attractive reasons why Softvil Technologies continues to be a convenient choice among other competing firms. Softvil has the advantage of handpicking Sri Lanka’s top technical talent with the company-owned recruitment services arm Exploreture. Moreover, Softvil operates in a highly flexible working environment that ensures a friendly interaction among clients and resource teams throughout the engagement.
Offshore software development outsourcing continues to be the trend among start-ups as well as scale-ups and firms that are well-established. The budget-friendly and easy-to-scaleup approaches used by Softvil work like a charm for start-ups with short-term project-based resource requirements. Likewise, this model comes in quite handy for firms that are looking towards optimizing internal development at a reduced cost.
Wrapping up
Sri Lanka continues to thrive with the popularity of being one of the most chosen outsourcing destinations in the world. Above discussed factors are a few of the most beneficial out of the list that any international company should consider Sri Lanka as their next outsourcing destination. As a leading resource outsourcing firm, we pledge our fullest commitment and allegiance to our clients to prosper with our collective efforts. Softvil Technologies warmly welcomes all who are looking forward to continue their development journey with a Sri Lankan offshore development partner.