Do you want to leverage technical outsourcing models for short-term technical projects or to address talent shortages in your team? For iGaming and PayTech companies, technical outsourcing can be a game-changer, helping them drive innovation and growth with strategic support. Read on to find out how to get the most value out of this approach.
This article is an extract taken from our whitepaper Outsourcing As A Tech Development Strategy in the iGaming and PayTech Industry. To download a copy please click here.
With many years of experience delivering technical outsourcing services to businesses in iGaming and PayTech, we have drawn on the experience and expertise of our consultants, technical delivery teams and clients, to help you avoid the pitfalls and successfully leverage outsourcing as a tech development strategy.
Your Roadmap to Successful Technical Outsourcing
Step 1: Define Clear Objectives and Expectations
Begin with a well-defined scope, objectives, and expectations for your outsourcing project. Ensure that both your company and the outsourcing partner have a mutual understanding of the project’s goals, deliverables and timelines. Clarity from the outset sets the stage for a successful collaboration.
Step 2: Effective Project Management and Communication
Establish robust project management practices that facilitate efficient collaboration. Regular communication is essential to keep all stakeholders informed and aligned. Utilise project management tools and methodologies to track progress, address issues promptly, and maintain transparency.
Step 3: Continuous Monitoring and Quality Control
Implement mechanisms for ongoing monitoring and quality assurance. Define key performance indicators (KPIs) and regularly assess the performance of the outsourcing partner. Conduct periodic reviews to ensure that the project is meeting the defined standards and objectives.
Step 4: Adapt to Changing Needs and Technologies
The tech landscape is dynamic, and your outsourcing strategy should be agile enough to adapt to evolving requirements and emerging technologies. Ensure that your outsourcing partner can flexibly adjust to changing project dynamics and can stay ahead of industry trends.
Step 5: Blend External and Internal Resources
Consider blending external resources with your internal teams on the same project. This hybrid approach can facilitate knowledge transfer, enhance collaboration, and provide an opportunity for internal staff to learn from external experts.
Step 6: Document and IP Management
Implement robust document and IP management practices to protect your company’s intellectual property. Clearly define ownership and transfer of knowledge and assets when the outsourcing engagement concludes.
Step 7: Cultural Sensitivity and Time Zone Management
Acknowledge and respect cultural differences within your outsourced team. Promote a collaborative environment that values diversity. When working across different time zones, establish suitable meeting times and communication protocols to ensure effective collaboration.
Step 8: Relationship Management
Maintain open lines of communication, provide constructive feedback, and address issues promptly. Strong relationships often lead to enduring partnerships and superior project outcomes.
Best-in-class outsourcing providers are well-versed in implementing these best practices. They not only have the expertise but also employ tools and methodologies to effectively manage the outsourcing relationship. By doing so, they ensure their clients capture all the benefits of the outsourcing model while mitigating potential challenges, ultimately contributing to the success and growth of organisations in the iGaming and PayTech industry.
For guidance on the different outsourcing approaches and where best to use them, download our whitepaper Outsourcing As A Tech Development Strategy in the iGaming and PayTech Industry here.