Development outsourcing is a key strategy for Venture Captial (VC) firms to reduce cost and accelerate software development. In light of the recent events in the banking sector as well as continual rise in the interest rate, it has become increasingly difficult for these firms as well as their portfolio companies to get access to necessary funding to stimulate & accelerate growth. As such, VC firms are now starting to leverage low code outsourcing services to ensure that their portfolio companies can remain competitive all while staying within budget and drive bottom line profits. In this blog post, we’ll explore how VC firms can drive growth for their portfolio companies through low-code development outsourcing services.
Focusing On Core Value Generation
Outsourcing allows the venture portfolio companies to free up resources enabling them to focus exclusively on core value generating activities like product/service innovation, marketing, promotions, outreach efforts, etc. This leads them being able to concentrate entirely on activities related essential growth objectives, increasing chances of success in the long run. By targeting their deployed resources towards core value generating tasks only, it can allow portfolio companies to achieve success and boost long term viability.
Faster Time-to-Market
Speed is of the essence when it comes to software development. Low-code platforms eliminate the need for extensive manual coding and thus reduce development cycles, allowing for more iteration, prototype testing and shorter time-to-market. By outsourcing software development to low-code professionals, VC firms can help their portfolio companies launch new applications and services quickly – giving them an edge in a highly competitive market. Automation further increases speed reducing tedious processes while still ensuring quality standards are met .
Cost Savings
Investing in software development can be costly; however, outsourcing software development to low-code teams can reduce costs significantly while still providing high quality results. This amount of cost savings allows venture capital funded businesses to scale more efficiently while still working from tight budgets. Since outsourced teams would handle all technical aspects, operational expenses would be drastically reduced as there wouldn’t be any need training or additional maintenance costs associated with any internal staff hired specifically for this purpose.
Access To Specialized Expertise
Development outsourcing software development offers portfolio companies access to specialized expertise often not available in house. Low-code teams have expert developers knowledgeable with best practices as well as modern technologies – allowing portfolio companies to create tailored applications that meet emerging customer needs while still adhering to industry standards ensuring success and profitability over time. As a great example, when engaged with Lonocode, you are getting access to both over 90+ years of development expertise as well as C-level management experience as an advisor partner along the way.
Increased Agility
Low code development is a revolutionary way for companies to keep up with the rapidly changing technological landscape. The low-code approach helps companies stay agile in their tech adoption and ensures that they can incorporate the latest and greatest in technology innovations (such as this hype we are seeing with chatGPT). By taking advantage of low-code solutions, organizations can alway remain competitive and create robust internal solutions without having to expend significant resources on coding and other complex development tasks.
In conclusion, venture capital firms can leverage low-code development outsourcing as a means of driving growth and remaining competitive within their respective industries during tumultuous times like these today. By making use of low code platforms and outsourcing software developments tasks, VC firms are able help their portfolio companies streamline operations while ensuring high quality software delivery processes. This ultimately supports a sustainable profitable business in long run.
If you have additional questions or would like to learn more about how low code development outsourcing can drive growth for your VC firm’s portfolio companies, don’t hesitate to reach out to us for a free 1 hour consultation!
