2024 has been a mixed bag for tech companies. While some things are looking up — like startup valuations and steady economic growth — there’s still a lot of belt-tightening going on. Whether it’s small startups or big players like Apple, Cisco, or Dell, companies are focused on cutting costs and being more efficient.

The reality is, though, that a lot of tech projects are still running into serious roadblocks. In fact, a recent survey from Boston Consulting Group (BCG) found that almost half of all IT initiatives miss their deadlines or go over budget. If you’re a tech leader, you’re likely feeling the pressure to find solutions for these challenges.

One proven approach? Dedicated teams. This remote development model is helping companies close gaps in resources, speed up their projects, and stay within budget. Let’s take a closer look at how these teams can help solve some of the biggest issues tech projects face today.

Closing the Resource Gap with Dedicated Teams

One of the biggest reasons tech projects fall behind or get too expensive is a lack of resources — whether it’s money, talent, or both. In the BCG survey, 36% of executives said that not having enough people or funds was a key issue. And with companies tightening their belts, this is likely to be a problem for a while.

Here’s where dedicated teams come into play. By working with skilled remote teams, companies can get more expertise for the same budget. For example, hiring a senior data scientist in Florida might cost between $120,000 and $202,000 a year. In comparison, hiring someone with the same experience in São Paulo, Brazil, would cost between $36,000 and $67,200, according to Levels.fyi.

These kinds of savings add up fast. Remote development teams often deliver 2-3 times more value compared to hiring in-house, especially when you’re working with a reliable vendor who can handle talent sourcing, coordination, and retention for you.

Case Study: Scaling Faster with Nearshore Teams

Gorkem Sevinc, a tech leader in digital health, teamed up with Technology Rivers for several projects, including his work at eMocha Health and Milemarker. With big goals and tight deadlines, he needed a team that could help his in-house developers move faster while making sure everything stayed HIPAA-compliant.

Gorkem talked about how we became an extension of his team, helping them keep up with demand and hit their deadlines. What stood out to him was how we were always available, working whenever needed to keep things on track. Thanks to our support, his team was able to speed up their product launches while staying secure and compliant.

Keeping Everyone Aligned to Stay on Track

Another reason tech projects miss deadlines and go over budget is misalignment between teams and goals. According to the BCG survey, 43% of executives said that not being on the same page about what the project was trying to achieve caused delays. And another 45% said that unrealistic timelines were a major issue.

Dedicated teams help solve both of these problems. At Technology Rivers, we kick off every project with a deep dive into the scope, timeline, and expected results. Our senior experts — who have over a decade of experience in project management, engineering, and delivery — lead these sessions to make sure everyone’s clear on what needs to happen.

But we don’t stop there. Throughout the project, we stay in close contact with our clients, making sure we’re all still on the same page. Our clients can connect with tech leads and delivery managers to make adjustments as things evolve, which is critical in the fast-moving world of agile development. And for more complex projects, we bring in our architecture and technology experts to help guide the process.

Services That Help Keep Projects on Track

To keep projects aligned and on schedule, we offer:

• Regular check-ins with tech leads to make sure everything’s moving forward
• Part-time project management support from experienced delivery managers
• Detailed progress reports on both the timeline and the budget
• Strategic planning sessions and project discovery meetings
• On-demand support from our teams of design, AI, and data experts

Speeding Up Timelines Without Cutting Corners

We all know that delivering a project on time is great, but not if it means sacrificing quality. Dedicated teams are designed to help companies hit their deadlines without taking shortcuts. According to BCG, having experienced managers with broad skill sets increases the chance of a project’s success by 30%. And if you bring in specialists like engineers who know large-scale systems or machine learning, that success rate goes up another 14%.

At Technology Rivers, we take a holistic approach. Our dedicated teams offer full support, covering everything from software development and design to project management and technical consulting. This all-around approach helps us not only meet deadlines but also deliver strong business results.

Client Success Story: Quick Project Turnaround and Better Results

Beverly Klau, founder and CEO of Verbina, came to Technology Rivers after another firm left her app full of bugs and basically unusable. Verbina is a social app for building real connections in communities, and Beverly — who has a background in education — wanted it to reflect the kind of meaningful work she’s passionate about. But the first version wasn’t cutting it.

That’s when we stepped in to help. We completely fixed the app, making it smooth and reliable, and even suggested some improvements that would make it better for users. Beverly loved how fast we turned things around and how closely we worked with her to understand what the app needed. She also appreciated how easy it was to stay in touch with us through Slack and regular meetings.

Thanks to our team, Verbina is now up and running the way Beverly imagined. On top of that, she also got helpful business advice and connections to potential investors and partners, which made the whole experience even more valuable.

The Bottom Line: A Solution That Works

Even though the tech industry is pushing for more efficiency, many companies still struggle with project delays and going over budget. Whether it’s a lack of resources, unrealistic timelines, or misalignment between teams, there are a lot of factors that can derail a project. But dedicated teams offer a flexible, scalable solution to tackle these problems.

By closing resource gaps, keeping everyone aligned, and speeding up project timelines, dedicated teams can help companies get more done, faster, and for less money. At Technology Rivers, we’ve been helping businesses large and small do exactly that for nearly a decade.

If you’re ready to explore how dedicated teams can boost your project’s speed and ROI, we’d love to chat. Reach out to our experts at Technology Rivers today to find out how we can help you deliver high-quality software solutions — on time and on budget.