As one of the top offshore software development companies in Sri Lanka, EFutures, thanks to its established position in the space, has also obtained a front-row seat of trends as they ebb and flow, through the years.
The startups of yesteryear were comparatively simpler; begin with minimal investments from your garage, and focus on quality every step of the way. Breaking even had no timelines, let alone achieving full ROI. As founders multi-tasked and aimed to deliver the best in performance in what could be considered a makeshift R&D environment, more freedom existed to ideate, execute and deliver.
Now, times have changed. Startups are now participants in a competitive race, whether they’d prefer it or not. In other words, the pressure to meet investor expectations is high – provided substantial funds have been secured in the first place. The rapid proliferation of AI further catalyses the need for growth. All of this combined demands today’s startup founder to deliver more – and fast.
So how can startups today meet investor and employee demands, while delivering optimal performance through the products and services they offer? Partnering with a software offshoring company that is reliable as it is experienced can help you stay in lockstep with ever-growing demands, while also rolling with the punches during low moments.
The best software companies in Sri Lanka already know this. Which is why in this article, we highlight the top reasons why today’s startups need high-quality software outsourcing services to succeed. Additionally, we list how you can partner with software development companies in Sri Lanka to meet your startup business needs – no matter how niche or granular.
Looking for software, AI and data engineering services in Sri Lanka? As a premier software outsourcing company, we are committed to meeting our clients’ requirements through comprehensive assessments and security-first development cycles, all delivered by a highly experienced 100-member team. Contact us today to get started!
The mainstream access and usage of AI has been a prime catalyst for investors to expect growth rates that aren’t just higher, but also faster in terms of turnaround times. AI startups especially are now more attractive prospects for investors, considering the potential involved in intelligently automating numerous tasks, building predictive analytics models and customising LLMs for the purpose of agentic AI.
The best AI development companies in Sri Lanka now function less as suppliers and more as strategic partners, to empower their clientele with solutions that always apply the latest technologies to their use cases. Custom AI model development is the most common service offered, but this comes appended with infrastructure management and DevOps, to ensure all AI-powered solutions function as expected.
If AI is trending today, another technological advancement may trend tomorrow. Considering the increase in speed that startups are expected to embrace for growth, being partnered with a software outsourcing company that meets relevant business needs can make all the difference for a startup.
Partnerships with the best software companies in Sri Lanka, additionally, can help startups ensure:
As a startup founder, you may have numerous other areas that demand your attention, especially from a product standpoint. In terms of tech and AI, your software development partner can take care of the rest, thereby helping you focus your attention on decisions that require your strategic and analytical insight instead – which also increases your rate of productivity.
It’s the age of GDPR – and regulations aren’t bound to get any easier. This is especially true for regulations now being built around data and security. While AI has opened up numerous opportunities to transform the way we live, study and work, it has also opened up just as many loopholes for scammers and hackers to abuse.
As a result, government agencies and industry-specific federations alike are now rolling out stricter regulations for companies to adhere to, in order to safeguard confidential user data. While industries such as financial services and healthcare are often placed under stricter scrutiny for compliance, all industries are now just as liable for maintaining tight compliance, as applicable.
Many leading AI development companies in Sri Lanka will tailor AI-powered solutions with security and compliance in mind, from the very beginning itself. With many companies unable to operate without meeting regulatory standards, this is an absolute must for startups today – something that you need to also make sure your AI development partner can accommodate and if not, consult an external compliance expert to obtain advice from.
As individuals now depend on digital or paperless systems for study, work and financial purposes, scammers are now increasingly on the prowl for gaining unauthorised access. Enterprise systems pose a bigger risk, as trade secrets and confidential data could lead to network breaches either through hacking or social engineering. Cyber espionage is also a matter of concern, which has now led rise to the need for stricter cyber security.
Many top software offshoring companies in Sri Lanka are also partnered with leading cyber security companies or have their own in-house security operations centres in order to deliver the very same to their clientele. In addition to DevOps, these companies go a step further to deliver DevSecOps, which builds every component with a security-first approach, while also infusing security as early as possible in the software development lifecycle.
Being a hub for all types of technology outsourcing, Sri Lanka is now a top choice for companies looking to outsource software and mobile application development, including AI development. Startups are no exception, and the cost savings offered by IT outsourcing companies in Sri Lanka can prove to be favourable towards tighter budgets too.
Here, we list what you can do before, during and after partnering with a software and AI development company in Sri Lanka, so you know what to expect at every step in the process.
While a business assessment is imperative for startups looking to partner with a software outsourcing company for the first time, it is also a good rule of thumb to conduct regular assessments for ongoing projects. This way, any changes to customer expectations, bottlenecks and technological constraints can be identified for prompt resolution, by the software development team.
So, gather relevant team members to spark discussions around:
If your product’s concept is brand new, it is worthwhile to spend extra time experimenting with a beta version instead. Allow users to try your product, conduct surveys to gather feedback, and even speak to them in person for encouraging greater engagement.
As your product improves with customer-centric recommendations, progressing towards an MVP, followed by a fully-fledged product release can give your product growth that truly sustains, as you’ve already built a base of prospects during the beta and growth stages.
You need not be partnered with the best IT company in Sri Lanka to be guided in the process of determining the KPIs that identify growth trends across your startup. Likewise, your software development/AI development partner also needs to establish reporting systems to monitor said KPIs, so you always have a pulse on how your startup is doing, and what can be done to fix any issues.
For building high-performance software or mobile applications, startups need to understand that simply teaming up with the best offshore software company in Sri Lanka won’t suffice. Before partnering with a software/AI development agency, startups need to be cognisant of why it is important to engage with a partner that is truly reliable. Reasons include (but aren’t limited to):
By understanding why startups benefit from partnering with a software outsourcing or AI development company, they can then pave the way towards selecting the right partner through comprehensive business assessments, beta testing, and KPI monitoring.
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