All major European, American, and international banks now have software development operations – whether this is in India, Poland, Belarus, or Russia. The backlog of software projects is continually increasing, and development companies require more and more resources. Despite the fact that many of these countries have historically been good outsourcing destinations, you should do extensive research prior to committing to any one development company.
This is because the world is in a state of change and development, with various threats and opportunities affecting nearly every industry, and which may come to have an impact on your choice of software development partner.
Russia is currently a thriving environment for software development, and it is filled with development companies embracing new ideas through supreme technology and innovation. Here are nine reasons why you should look to Russia for your next software development project:
1. COVID changes the game
Although in the past you might choose a software company in India because of the low prices you might find there, India has unfortunately experienced a dramatic growth of COVID cases and deaths. This means lockdowns, developers taking time off work, and an overall poor performance for your project. And sadly, there doesn’t seem to be an end in sight for the pandemic in India. On top of this, there are natural disasters in Indian that often add fuel to the fire, meaning that it will be a few years before India and its economy will be able to recover.
2. The New international landscape
If you have heard that there is a great software development scene in Belarus, then you should be very careful. This is because there is a very volatile political situation in Belarus at this time. As a result of this, a lot of high level developers have decided to immigrate to Lithuania. The shortage of quality personnel has become even stronger in recent times.
3. Vaccination goes too slow
As everybody knows all too well, there is currently a COVID vaccine crisis across Europe, and this brings with it lots of risks. From a software development perspective, your project may suffer a large number of setbacks and delays as a result of local lockdowns and developers taking time off work.
4. A lot of vaccines is a strong advantage
On the other hand, Russia has 3 different COVID vaccines that are in use at this current time and the country is way ahead of the curve in terms of vaccinating its population. This means more developers at work who are healthy and ready to get stuck into developing a highly successful product for your company.
5. High quality of High School education
It is a well known fact that Russia has a high level of competency throughout its working population when it comes to technical skills. This is because of the impressive attainment levels of technical science education in High School. Russia also offers a lot of free courses of software development for any levels of developers (analytics, architectures, BigData, ML, CDTO and other different roles). In fact, many CTO/CIO’s in EU banks have Russian roots and have benefited from the successful Russian education system.
6. High speed of digital transformation in fintech
The Central Bank of Russia is the main driver of digitalization in the country. But this is not true only for the finance sector. The Russian government has set up a global program of digital transformation in all industries until 2030, helping to boost Russia’s digital output and putting it at the forefront of the global drive towards a more digital future. Traditional services that previously had not been digital are now undergoing a transition to more efficient, effective and digitally focused techniques. For example, you can fix the time slot for the Sputnik-V vaccination shot in just a few clicks at the nearest hospital, without any queries, and receive the jab in merely 30 minutes.
7. Big Russian banks in mortal combat
The second power in the thriving Russian fintech market after CBR is its top 10 banks: Sber, VTB, Gazprombank, RSHB and private banks like Tinkoff and AlfaBank. These banks are all in fierce competition to snatch a segment of the lucrative digital banking market, and of course, they each have access to large teams of developers to help them achieve this. For example, during 2020 VTB (the second largest bank in RU) onboarded more than 1200 teams of developers. If we count only Russian tenders during Q1 in 2021, there is a need for 2000+ developers. In a few more months, Russia will surely become the best fintech benchmark for all companies around the world. Just think about that.
8. Nothing political, only profitable business
How much does all of this innovation cost? Of course, the salaries of Russian developers are more expensive than if you were to choose a development team in India. However, they are dramatically cheaper than in many EU countries, even including Poland. An important point to note is that sanctions, and political, anti-Russian paranoia decrease the strength of the Russian rouble, which only results in making software development in Russia even more profitable for you. In fact, you won’t be having a lot of political or economical risks, because it is just business when dealing with a Russian software development company.
9. We are ready to help you make it fast and professionally
When you choose an outsource development team in Russia, they are ready to go, unlike those in many other countries. This means that you just need a few weeks to build a start team and then grow your new product. Language, time and cultural barriers are simply obstacles that can easily be overcome and solved together with your new development team.
If the expertise, work ethic and ability to get you off the ground quickly are what you’re looking for, a software development team in Russia may just be the right fit for your project. Talk to an expert team now and you won’t be disappointed with the incredible quality of work that an outsource development team in Russia can offer you.
Find out more about OmegaLab here.