BOT is the next big thing in offshoring
Companies looking to get involved in the international markets are embracing the build-operate-transfer (BOT), model. The BOT model is a form of an integrated partnership combining the design and construction responsibilities of design-build acquisitions with operations and maintenance. It lets you build an offshore team in the ‘build’ phase and put them for a preliminary test during the ‘operate’ phase. Once the team has adjusted to your company’s processes, tools, and methodologies, you can take the full control of the team in the ‘transfer’ phase. BOT model gives you the leverage of trying before buying. That means you don’t need to invest much in your offshore unit until you are sure of its worth.
Let’s understand all the three stages of the BOT model in detail:
- Build: It is the initial phase, including activities like defining the qualification requirements to the workforce. It includes everything ranging from distributing personnel recruitment procedure, approval of the reporting process, creation of infrastructure, and core team. This is also the phase where trust rapport between customer and contractor is formed, and the project is started.
- Operate: This phase is where project management happens. It includes expanding the team as per the customers’ requirements while developing products or projects. Additionally, there is the implementation of processes to reach an ideal level of business maturity and technical abilities of the team. Also, the ‘operate’ phase encompasses the allocation of lead programmers and team leaders in the unit plus applicable costs are changed on an annual basis.
- Transfer: it is the final phase where outsourcing partner transfers project ownership to the client. Although it’s only possible when your client is ready to take control of the project or the contract has ended. This phase includes a transfer of assets and some handover process.
How RemotePanda helps you with build-operate-transfer software outsourcing?
We help you build a team of the top talent in India – right from sourcing candidates to interviews to due diligence & hiring. We then put those employees in an office of your choosing & manage their day to day operations. Later, once you feel the team is ready & at par with your sops, we transfer the control over to you. You now have access to global talent, an office in a different part of the world, easy access to a booming economy and most of all, you will have your employees
The BOT model enables you to set up an offshore team in the ‘build’ phase and then take them for a trial run during the ‘operate’ phase. Once you see that the team has well adapted to your company’s processes, methodologies, and tools, you can decide to take full control of the team in the ‘transfer’ phase. This model gives you the choice of trying before buying, meaning you don’t need to make any long term investment in your offshore unit until you are sure of its value.
How the BOT model at RemotePanda works?
The build-operate-transfer model at RemotePanda follows a set of procedures.
- Initially, we will connect with you through a phone call and understand your requirements and pain points. Once the prerequisites are precise, we’ll start building a team for you.
- It includes the screening the candidates with due-diligence, interviewing them, and hiring the best-fit.
- In this step, we will be responsible for the agile project management of the team. Besides, we will provide them the technical and business coaching along with taking care of the daily operations.
- Finally, you can transfer the candidates on your payroll. We will manage all the legalities and continue providing you the necessary support.
In short, RemotePanda will set up a dedicated team for your project as per the number of resources required. The resources will be provided with the infrastructure, which includes physical space, machines, high-speed internet, Amazon cloud workspace, secure access, and training. Also, a virtual CTO can be accessed on an hourly to fulltime basis.
If requested, RemotePanda will continue to assist with administrative management, accounting, recruitment, or any other services related to your offshore team even after the transfer of ownership.
Reasons to choose the BOT model
- Cost efficiency
Running a business is all about saving money, spending it, and gaining profits. That’s why the BOT model often helps in cutting costs in the best way possible. Since the project team is owned, managed, and operated by an offshore group, it saves as much as 60% of the standard cost. The funds saved can be used to help enrich and develop the company’s employees and recruiting more skillful resources.
- No risk in building a team
There are risks associated with every business since every country faces issues at some point or another. So the BOT model helps in reducing the risks of being in a different country by diversifying investment for the investors. Since the outsourcing partners are already aware of the conditions of the country it’s operating on, they are prepared for possible problems that could arise during the team set up.
- Ability to scale rapidly
Using the build-operate-transfer model, organizations can scale their operations quickly through a wide array of services, which in turn completes the business model.
- Faster time to market
Having diverse resources in different locations or time zones help reducing time to market since the process cycle is almost 24/7. Since the development is uninterrupted, it doesn’t waste much time in a day.
- Access to booming technologies
Having an experienced team allows companies to introduce the latest technologies. And having access to these technologies can be an added advantage that often engages and retains members in the organization.
A BOT model helps companies create the full value of their outsourcing partners. Simultaneously, the proper plan keeps business operations and knowledge in-house as if it’s the part of the same company.
Similarly, RemotePanda assists you in such a way that you can focus on developing and enhancing your core business. We will supervise the offshore operations and development, and get things done before the transfer of ownership.