Ukraine is well known for its excellence in IT outsourcing. The large number of talented and certified IT graduates has caused the industry to increase substantially over the last few years. Ukraine’s dynamic IT outsourcing sector could more than double in the next decade, according to Stanislav Sheliakin, a senior consultant at PricewaterhouseCoopers. Here are 3 great reasons why Ukraine is the best choice for IT nearshoring right now.
#1 New It Government Initiatives
The last few years have seen the Ukrainian IT industry grow at an astounding 27% a year! But the government is keen to spur further growth with several major initiatives. One initiative is the “Brain Basket Foundation”. This project was launched in April 2014 by the government in partnership with the largest IT companies in the Ukraine. The grand mission is to make IT services the largest export by 2024 with a target revenue of $20 billion. The action plan involves fund raising and additional resources to create and train more than 200,000 IT specialists by 2020. The foundation is not only supported by Ukraine’s IT industry but backed by global players like Cisco, Microsoft and Richard Branson’s Virgin Group.
#2 Ukraine: Europe’s Silicon Valley
Another initiative – SupportUkraine.us was launched in Washington, D. C. on April 29. The project is a partnership with TransparentBusiness.com. The project aims to encourage major American and European companies to outsource their IT operations and development to the Ukraine. With the slogan that companies can improve their profits and support democracy by nearshoring to Ukraine the initiative hopes to bring Ukraine closer to other countries. Despite the massive growth in the IT outsourcing sector over the last few years, Ukraine still has less than 1% of the world’s Information Technology market. The project advocates believe that the Ukraine has the necessary technical, educational and tax advantages to increase IT outsourcing market share to 10-15% of the global IT services economy.
Ukraine offers advantages in cultural and geographical proximity. Compared to other important IT outsourcing hubs like India and China the Ukraine’s cultural proximity to America and Europe offers great benefits in smoother co-operation and better communication. With English widely spoken there are no language barriers to overcome. Along with high technical skills the ability to communicate clearly and effectively leads to successful outsourcing solutions. With Ukraine only a 2-3 hour flight away from major Western European countries it’s easier to meet with developers and designers than companies in India or China. Geographical proximity also allows developers to work in similar time zones. It’s much easier to contact the nearshoring company in real-time on the phone, by video conferencing or instant messenger if necessary.
Despite news events in Eastern Ukraine, major global IT companies are already working in partnership with the government and Ukrainian IT outsourcing companies. The future of nearshoring to Ukraine is set to get bigger.
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