Tag: nearshore

Diabates awareness month

ITJ celebrates Diabetes Awareness Month

Posted on | by TeresaPenafiel | 1 Comment on ITJ celebrates Diabetes Awareness Month

Did you know that 1 out of 10 people around the world is living with Diabetes? According to the IDF Diabetes Atlas, diabetes prevalence continues to rise around the globe, reaffirming Diabetes as a significant worldwide threat to people’s health and well-being. It is for this reason that November is designated as Diabetes Awareness Month.

Diabetes puts people at risk for cardiovascular damage, limb and foot injuries, vision issues, and nerve damage from uncontrolled blood sugar. Adults with Diabetes make up more than four out of five (81%) of the world’s population, and Diabetes is responsible for 6.7 million deaths in 2021 – 1 every 5 seconds. 

ITJ joins Diabetes Awareness Month by celebrating the recent opening of a new Center of Excellence in Tijuana focused on developing a revolutionary medical device that aims to improve diabetes patients’ lives.   

It is essential to recognize the innovative projects happening on the other side of the border with the help of the nearshore digital talent. Especially in the healthcare and life sciences, U.S. companies can lean on a neighbor’s shoulder and grow their teams to meet their objectives.

Because of its rapid expansion, reduced cost of living, and closeness to San Diego, the South California software development industry has considered Tijuana a potential housing option. The latest World Bank Annual Ratings in the Ease of Doing Business shows that Mexico is the best ranked among Latin America and Caribbean nations. Cali Baja region remains a natural choice for many U.S. companies due to its proximity and market maturity. 

Nearshore services are a game-changer for organizations since they can expand their team, gain scalability, and stay competitive. The history of the medical device industry in the Cali Baja region is characterized by sustained growth and increased learning, rising as one of the most important technology hubs in Mexico and Latin America. 

About ITJ

ITJ is a trusted partner in building the finest software engineering teams in the Americas. For more information, visit www.itj.com.

Top 3 industry sectors with the highest revenues during COVID-19

Posted on | by Paula Diaz | 1 Comment on Top 3 industry sectors with the highest revenues during COVID-19

Not all industries experienced a decline during the pandemic. Why? Consumer habits changed during 2020. The lifestyle suffered a compelling shift that affected each sector differently. The monetary global GDP loss in the best covid-19 scenario was USD 76.69 billion, and the forecasted GDP loss in the U.S. was -2.4%. 

In 2021, vertical markets carried the lead with insurance, real estate, hospitals, heavy manufacturing, retail, and transportation organizations. According to the Global 2021 Forecast by Fortune 500, GDP growth was expected to accelerate up to 5.6% only this year. Despite the setbacks, the heft of the Global 500 remains formidable: The combined sales of the top 10 companies with the highest revenues in 2021 are equal to more than one-third of the global GDP of the same year.

But, what were the top 3 sectors with thriving revenues in 2021?

According to the Quarterly Services Survey (QSS) by the U.S. Census Bureau, these are the following industries with the highest reported revenues:

1. Software System, IT Services, Application  The software industry has the highest revenue during 2021. The gross profit for the application software industry stands strong at USD 244.29 billion. This industry will continue to dominate with a net income of USD 81.3 billion and capital returns of 32.07%. 

Software (Entertainment)

There is a subcategory in the software sector: The entertainment software industry primarily encompasses video-game companies, which we all know to be profitable. The entertainment software industry has a net income of USD 83.5 billion and an 18.32% return on capital investment, making it relevant to our revenue scale.

2. Computer services 

The computer service sector is growing at exponential rates. With the increase in demand for computer services, tech companies are bound to generate large profits, contributing to a net income of USD 12.22 billion and a return of 21.92% on capital. It is anticipated that the industry will grow up to USD 20.05 billion in revenue for 2028.

Computer Peripherals 

Working from home has become a common practice for everyone; computers and their accessories have become more of a necessity than a luxury. As a result, the computer peripherals industry grows, accumulating more and more profits as time passes. 

3. Healthcare & Life Sciences

The life sciences sector has played a pivotal role amid the COVID-19 pandemic. To cope with the global crisis, traditional competitors partnered to accelerate research. In addition, governments, health systems, payers, retail pharmacies, and nonprofits are now working collaboratively with the sector to provide widespread distribution and administration.

Global life science analytics was valued at USD 7.7 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 7.8% from 2021 to 2028. Increasing penetration of analytics in the life science industry using reporting and descriptive analysis to build databases and predictive and prescriptive analysis to estimate future trends and outcomes are expected to drive the growth.

As essential and fundamental as it is, the healthcare support and services industry does not come as a surprise to see it make it to our list of the three most profitable industries in the world in 2021.

At ITJ, we know the industry’s rapid growth, and we are committed to pushing it even further through nearshoring. You can find more information about the nearshoring processes and the establishment of centers of excellence in 5 Reasons to Nearshore with ITJ.

Drugs and Pharmaceuticals 

The drug industry is notorious for high-priced products as people realize their current needs plus a robust preventive line of biopharmaceutical medications. Currently, these companies employ approximately 5.5 million experts on the matter; as innovation in therapies reaches more countries, there are significant gains in mean life expectancy and quality of life.

About ITJ

ITJ is a trusted partner in building the finest software engineering teams in the Americas. For more information, visit www.itj.com.

BOT Model: How Global Companies Are Expanding in this Pandemic Times

Posted on | by Paula Diaz | 2 Comments on BOT Model: How Global Companies Are Expanding in this Pandemic Times

The covid-19 pandemic of 2020 has had an indirect positive effect on the adaptability of major companies. According to a recent study by McKinsey, companies have accelerated the digitization of their internal operations by three to four years. Many have not only adopted remote operations but are also innovating in products thanks to the change–the share of digital or digitally enabled products in their portfolios has accelerated by a shocking seven years.

This fast-evolving ecosystem for growth has pushed IT companies to look for tools and tactics that maintain their competitive edge. One of the most adopted tactics to boost their growth with a minimum time span is the BOT Model. But what exactly is the BOT model and how does it work? 

Build-Operate-Transfer (BOT)?

BOT is a business model. According to Gartner Research, it’s a contractual relationship in which an organization hires a service provider to set up, optimize, and run a business (or process/service/delivery) operation with the contractually stipulated intent of transferring the operation to the organization as a captive center. 

Say you build pacemakers using IT. You’re doing pretty well but have reached your current limit in operating capacity and are looking to expand both market share and product features. Under the Build-Operate-Transfer model, you can hire a service provider to set up, optimize and run the process for you, only to transfer the operation back to you once it is set up and running efficiently.

The BOT model allows service providers to quickly set up a new center applying the internal culture and processes of its client organization. The aim is for the service center to be completely operational from its foundation. When set up in countries with a lower cost of living, it can also represent a significant reduction in operating costs. Under these circumstances, a nearness between borders can become a great advantage.

By partnering with US businesses, service providers like ITJ can help develop world-class software engineering centers of excellence that assist companies of all sizes to access purpose-built, fully managed, lower cost, and innovative software development, testing, and operational support teams only 35 minutes south from the border. These hubs integrate seamlessly with clients’ resources and align with their business strategies. 

As technology continues to push innovation forward, ITJ’s unique BOT model positions itself as a reference center for excellence working with the highest quality software engineers, data scientists, and creative designers from across Mexico and Latin America making it a game-changer for any company. 

About ITJ
ITJ is devoted to serving fast-growing and high-value market sectors, particularly the Internet of Medical Things (IoMT), working with innovative medical device companies looking to improve people’s lives. With a unique BOT (build, operate, and transfer) model that sources only the best digital talent available, ITJ enables companies in the US to create technology centers of excellence in Mexico. For more information, visit www.itj.com.