How did Nearshore start?
Since 2005, offshoring has been in steady decline for a number of reasons. Increased costs, management problems, lag times, political instability overseas, less reliable civil infrastructure, exchange rate volatility, undeveloped legal and regulatory systems and a lack of quality control have all contributed to offshoring's retreat. Instead of cost reductions and operating efficiency, offshoring IT services to faraway lands has translated into headaches and problems for business managers and their customers. Even a cursory comparison between nearshoring and offshoring is proving to be no contest between the two competing forms of outsourcing.
What is Nearshore?
The value added through Nearshoring such as cost deduction, flexibility, knowledge support and extra expertise is allowing companies to scale quickly and dominate in their industry by using flexible solutions with the help of expert's advice on different levels.
There's never been a better time to start. The performance of Nearshoring teams is higher than It’s been before. To adapt the real advantage for your business it’s extremely beneficial to nearshore your digital needs with a partner who has an unique personal and local relevance approach.
Nearshoring is the solution for staying on par with your company’s needs without the uncertainty to either retain or release employees. Furthermore, it allows you to scale up or down the remote team with senior, medior, junior, architect or other skilled members when the scope of the projects asks for it, not when your team is ready for it. No long-term payroll obligations, but long-term relationships. That is cost control while growing your business.
Knowledge sharing is fundamental for a team’s collective knowledge, intelligence and abilities. Fundamentally to increase innovation and knowledge, team members need each other. Having a nearshore team attached already increases knowledge, but keep in mind that a nearshore company can even bring more knowledge. Nearshore companies can share experience not only on a technical level, but also on best practices.
It is very important that people find ways to efficiently share knowledge with their teammates, so their collective intelligence can increase, and the distributed team can grow stronger. Seeking, filtering and sharing new information is core to developing collective intelligence and smart teams. Remote companies know how to share knowledge and make teams smarter and more efficient.
Why should you go with Nearshore?
Making that strategic choice should not only be for cost-effectiveness and no big-time differences but should also be based on having the same political situation with laws and a quite similar working culture.
Having all this in mind, having a Mexican remote team connected with a similar culture to yours can give a nice positive twist in your company.
Benefits of Nearshore
➤ Cost savings
➤ Similar time zones
➤ Cultural affinity
Cost reduction, cultural affinity, talent, geographic proximity and time zone are all the great advantages of nearshoring and which allow leading U.S. companies to realize productivity improvements, better morale and a stronger return on investment.
As technology continues to change and develop, it will remain a major cost center for all companies. Therefore, nearshoring will continue to be an effective solution, especially as the talent pool in Latin America continues to grow in both size and skills.
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