Technology Trends Making Entrepreneurs Turn to Mexico
Although the current Covid-19 situation has affected businesses in Mexico negatively, some companies have opted to still invest in more research to create software technologies to boost their competitive edge in 2022.
Spiceworks Ziff Davis anticipates that 66 percent of Mexican companies will supplement their IT budgets in 2022 to boost their competitive edge and venture into new technologies compared to 70 percent of companies in Latin America with the same idea. The organization has also gathered statistics regarding why companies in Latin America have opted to increase their IT budgets. For instance:
- Increased security concerns have made 25 percent of Mexican organizations boost their IT budgets compared to 37 percent of all companies in Latin America.
- 23 percent of the total companies surveyed in Latin America cited that currency fluctuations made them decide to increase their IT budgets as compared to 18 percent of businesses in Mexico which arrived at the same decision.
Let's discuss the software development-related ones.
AI has been one of the backbones of modern technologies. It's linked to the term "smart" while referring to gadgets such as smartphones, smart cars and smart toilets. Multiple electronic gadget manufacturing companies in Mexico are currently using AI algorithms to create advanced smart products to make them more easier-to-use. Furthermore, software development companies are adding AI to their computers to help reduce the failure rate, increase development speed, provide accurate cost and timeline estimates for the software and strategic management.
Democratization of data and technology
Multiple software development organizations have been under pressure and utilized a lot of labor expenses to hire top-notch IT programmers to code for new software. In 2022, it is estimated that IT companies in Mexico will venture into using AI and IoT infrastructure without owning copyrights to any proprietary piece of cognitive code or server. It will help reduce coding costs and speed up the software development processes. Inadequate programming knowledge or understanding of data structures won't be a barrier anymore if you implement this world-changing idea of no-code interfaces into your company.
With lockdown regulations leading to the closure of companies in Mexico, most of them are trying to develop visualized systems to allow employees to work from home. These systems will create even better flexible working hours for software developers, reducing the development timelines.
Related: What Not to Do When Outsourcing
Benefits of U.S. businesses working with nearshore software development companies
There are a lot of nearshore software development companies in Mexico that have emerged over the recent years due to the rising demand for outsourced software development services in the US. If you have a company in the US and your main company objectives are not IT-related, getting a nearshore software development organization to handle your software development will yield multiple benefits, including:
Reduced language and cultural barriers
For a successful software development process, you must consider the communication and cultural features of the company you're working with. Luckily, Mexico shares a border with the US. It implies there's been a healthy cultural interaction between the two nations over the years. English is the second spoken language in Mexico, making communication easier.
Shared time zones
As much as offshore software development companies can bring on the table in terms of software creation experience, they can't match the convenience of working with nearshore companies based on time zones. Mexico is approximately one hour ahead of the US, meaning it'll be easier for you to schedule meetings even during the day.
Many IT companies have invested in software development to help increase their competitive edge over others and match with the evolving technology in Mexico and other countries worldwide. With statistics showing more organizations are willing to allocate more budget for software development in 2022, it's ideal you pull up resources to be among the competitive IT companies. You can outsource software development solutions from Mexico if your company is based in the US and your financial analysis report shows outsourcing the services from a nearshore company will be cheaper.
Entrepreneur Editors' Picks
Formerly Enslaved Black Man Nearest Green Taught Jack Daniel Everything He Knew About Whiskey. Today, the Founder of Uncle Nearest Premium Whiskey Celebrates His Legacy.
Leadership Lessons From the Exclusive Creativity School That 'Packs 5 Years Learning Into 5 Days'
3 Expert-Backed Strategies for Staying Calm in Times of Confrontation
The CEO of Wayfair Has Helped Revolutionize Digital Shopping for 20 Years. Here's How He Handles Rocky Economic Conditions.
This Founder Went to Prison When He Was 15 Years Old. That's Where He Came Up With the Idea for a Company Now Backed By John Legend.
3 Signs You're Letting Pride Get in the Way of Being Successful
Chip and Joanna Gaines and Shonda Rhimes Found Incredible Success By Using This One Entrepreneurial Strategy. Here's How You Can Too.