Outsourcing software development to Vietnam is becoming an increasingly popular choice for businesses looking to benefit from low-cost and high-quality services. This article presents an overview of Vietnam’s Software development industry and explores the top 5 benefits of outsourcing software development to Vietnam, including access to a large pool of talented professionals and cost savings.
Overview
Overview of Vietnam’s Software Development Industry
As the software industry in Vietnam gains momentum, increasingly more businesses are choosing to outsource their software development projects to the country. With an exceptionally talented workforce, access to cutting-edge technologies, and a business-friendly environment, Vietnam has become a reliable option for tech companies looking for efficient and cost-effective development solutions.
High-quality talent pool
Vietnam offers a high-quality and talented pool of software engineers, thanks to the substantial investments made in IT education in recent years. The professional talent and skill level of software developers in Vietnam is easily comparable to those found in major IT hubs around the world, such as the US, UK or Japan. This makes it easier for businesses to find the right people for their projects without having to break their budget.
- The number of software development companies in Vietnam has grown rapidly in recent years, with over 4,500 companies operating in the country as of 2019, which makes Vietnam the second-largest exporter of IT services in Southeast Asia, after India.
- According to the VietnamNet Media, Vietnam’s IT industry is expected to create around 1.5 million jobs by 2025.
- As of 2020, the number of IT professionals in Vietnam is about 1.2 million, and it is expected to increase by 15% annually.
Affordable Labor
One of the main reasons to outsource software development to Vietnam is because of the lower labor cost. With an advanced educational system and high-quality IT professionals, companies can leverage Vietnam’s highly trained, skilled workforce while still saving money compared to other countries. Additionally, businesses can benefit from significantly lower staffing costs and employee benefits.
Vietnam has a high percentage of young professionals, over 80% of the IT professionals are under 35 years old.
- According to the study by Savvycom, the average hourly rate of Vietnamese software developers is around 20-30% lower than that of Indian or Chinese developers.
- The cost of outsourcing software development in Vietnam is also generally lower than in Western countries. For example, the average hourly rate for software developers in the United States is around $100 to $150, while in Vietnam it ranges from $15 to $35.
Greater flexibility in hiring procedures
Vietnam offers a high-quality and talented pool of software engineers, thanks to the substantial investments made in IT education in recent years. The professional talent and skill level of software developers in Vietnam is easily comparable to those found in major IT hubs around the world, such as the US, UK or Japan. This makes it easier for businesses to find the right people for their projects without having to break their budget.
- The number of software development companies in Vietnam has grown rapidly in recent years, with over 4,500 companies operating in the country as of 2019, which makes Vietnam the second-largest exporter of IT services in Southeast Asia, after India.
- According to the VietnamNet Media, Vietnam’s IT industry is expected to create around 1.5 million jobs by 2025.
- As of 2020, the number of IT professionals in Vietnam is about 1.2 million, and it is expected to increase by 15% annually.
Experienced in Agile Team Management
This understanding equips developers with the knowledge to set up product roadmaps, create actionable tasks, develop sprints and manage the entire software development process accurately. Agile methodology allows teams to move faster in their project by prioritizing work better, responding more quickly to change in customer requirements, and delivering high-quality products with shorter timeframes. Furthermore, teams that follow this approach can prioritize tasks better as they take account of changing business objectives. This reduces the risk of project failure due to unforeseen issues or lack of proper planning.
- A study by the Standish Group found that Agile development methodologies had a success rate of over 80%, compared to a success rate of just 29% for traditional Waterfall methodologies. (Source: “The CHAOS Manifesto” by the Standish Group)
- According to a study by the Project Management Institute, Agile project management methodologies can increase project success rates by up to 28%. (Source: “Agile Practices for Waterfall Environments” by the Project Management Institute)
Proven Track Record of Performance
Vietnam is renowned for its software development talent and abilities with a proven track record of performance. This makes it a highly sought after location for outsourcing software development, as businesses can be rest assured, from prior engagements and experiences that the developer can deliver high-quality output within set timelines and budgets. Furthermore, many top developers are code wizards with a sharp eye for detail and have an ability to think out of the box to solve complex challenges under tight deadlines.
Conclusion
Vietnam’s software developers are known for their strong work ethic and quality work. They are also relatively low labor costs compared to other countries, which makes it an attractive option for companies looking to outsource software development. The Vietnamese government has made a concerted effort to promote the development of the country’s IT industry, and has implemented a number of policies to support the growth of the sector.
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