Team extension has been popular among many Ukraine outsourcing companies for a while now. It is an innovative software development approach that allows people access to an extended team of highly-skilled developers working remotely on their projects. Team extension is often compared with outsourcing, but the two have some critical differences.
While outsourcing involves a company hiring another company to manage all responsibilities related to a project, team extension services involve cooperation with one extended team of specialists who are spread across the globe but work in cohesion as if they were part of your in-house team. There are different types of groups that you can extend based on your business needs – from dedicated teams working exclusively for your company to crowdsourcing when several experts from other companies work on specific aspects of the project.
What is Team Extension?
Team extension is a business practice that involves hiring an external company to provide services for your company. It is a cost-effective way to get the work done and can also be used to meet deadlines and get the job done quickly by experts (or at least people who know what they’re doing).
While there are many different types of team extensions, in this article, we will focus on the most common ones:
● Team extension with an external partner
● Project outsourcing
Top 5 Trends that drive the Team Extension Services in Ukraine
Here are the top five trends that drive Team Extension services in Ukraine:
● Unparalleled development skills. Ukraine has a large pool of talented engineers and developers who can help software companies expand their teams on-demand, allowing companies to save time and reduce operational costs.
● Fintech – If you’re building a financial technology product, you need to consider how much your customer base will grow over time and optimize your experience for mobile devices before anyone else does it for you! That’s why fintech is such an important industry here in Ukraine—and why we’re seeing so much growth potential there now.
● Artificial intelligence – We’ve said it before, and we’ll repeat it: this is one area where Ukraine has been ahead of its Western counterparts for quite some time now. AI isn’t just about machine learning anymore either—it’s all about big data analytics too!
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Unparalleled Development Skills
One of the most critical trends that drive team extension in Ukraine is the talent pool of developers.
Ukrainian developers have always been in high demand, but now they are even more sought-after thanks to their unparalleled development skills. It’s not just about coding anymore! Ukrainian developers can do much more than just code—they can help you with product management, design, and other areas that require technical expertise.
In addition to having excellent technical skills, Ukrainian developers are also known for their communication and teamwork abilities. They understand how important communication is during creating an MVP or prototype or product roadmap, etc., making them perfect candidates for working remotely with your team on projects where non-technical work is required from a developer’s standpoint (such as managing clients or managing internal processes).
Fintech, or financial technology, uses software to automate and streamline financial processes. It is changing how we manage money and conduct business transactions.
In Ukraine, fintech experts are in high demand and command high salaries. In fact, according to Ukraine’s Ministry of Economic Development & Trade, our country ranks third globally for its number of fintech specialists (after the US and China).
So, although there are still many problems with corruption within Ukraine’s banking system — which can make conducting business transactions difficult — there are also plenty of opportunities for entrepreneurs who want to get involved with this emerging technology area.
Artificial Intelligence or Machine Learning
Artificial intelligence (AI) has been a buzzword in the outsourcing industry. What is AI? It’s a broad term encompassing many different methodologies, including machine learning and deep learning. It’s widely used in customer service, where chatbots are programmed to answer real-time questions about products or services.
AI comes into play when you factor in automation—when you build software that can perform tasks independently without human input or interference (although humans may still be involved at different stages). This makes it possible for companies to scale up their workforce quickly with minimal investment in infrastructure or human capital needed for maintenance tasks like answering customer queries or making specific processes run smoothly; this also means an increased speed of response since no one needs to spend time interpreting instructions first before implementing them on other teams’ behalf.”
Blockchain is a technology platform for the development of decentralized applications. It is a distributed ledger that can be used to store and share data in a way that allows multiple users to access, add to, and edit it simultaneously.
Blockchain has been used in many fields such as finance, healthcare, education, etc. According to Gartner’s report on blockchain adoption trends in 2019: “Blockchain has been around since 2008, but its application across industries is still being explored.” The report also states: “The value proposition for blockchain depends on where it’s being applied — some use cases are more compelling than others.”
When you need an IT team for your project, deciding how to go about it can be challenging. Suppose you hire full-time employees from a specific region or use one of the popular software development solutions such as team extension services. In that case, knowing where your talents are coming from is essential. The trends we identified above might guide your decision-making.