An article I wrote recently for The Future of Sourcing summed up the reasons why nearshoring to Puerto Rico brings the best of outsourcing to U.S. businesses – the cost benefits of offshoring and the productivity benefits of nearshoring.
And, the proof is in the adoption. U.S. companies are quickly realizing the benefits, with business process outsourcing (BPO) becoming a growth industry for the island.
The article examined the key benefits of outsourcing to Puerto Rico, such as the following:
As a U.S. territory, Puerto Rico shares the same currency, similar time zones, languages, intellectual Property (IP) protection and other U.S. regulation adherence, conveniences that would be impossible to replicate with offshore providers, but at billing rates still 30-50 percent cheaper than mainland competitors.
Closeness for collaboration.
As software development continues to become a strategic business driver, it’s important for companies to be able to easily collaborate on-site with outsourcing partners. As I said in the article, “today’s outsourced provider must be a true business partner that understands your business – not some obscure firm with generic answers.”
Puerto Rico is home to world-class universities and many of its professionals also attended leading American universities on the mainland. Their tech expertise is on par with all major U.S. cities.
Nearshoring to Puerto Rico has many advantages that are making it an attractive destination for AI and software development. As the complexity of tech grows and the need to bring advanced solutions to life quickly and efficiently, so will the market demand.
For additional nearshoring insights from Wovenware, please read: Why it Pays to Outsource Closer to Home and Nearshoring: The Fast Path and Short Cut to AI Deployment