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Why are companies moving towards outsourcing product development?

Software Product Companies of late have been discovering the huge advantages of outsourced product development (OPD). Until recently, software product development was considered one of the core competencies of a software product company. Why, then, has the trend changed toward outsourcing?

Let’s look at some of the reasons: § For already established software product firms, the challenge is to keep up with the market and the competition. Time-to-market is the key to success since any product has a limited time window to capitalize on the market and make profits. This is even more pronounced with the move towards a global economy and competition from vendors across the world. Software product companies are beginning to realize that their core focus should be on identifying market opportunities, innovation, aligning the vision of the company with the market requirements, refining the roadmap, and most important of all, marketing.

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