Outsourcing your software and IT in Vietnam as a Canadian business

Feeling overwhelmed when it comes to your software and IT operations? These days, it’s a growing trend for Canadian businesses to outsource their IT operations and Vietnam is a top choice.¹ Pair outsourcing with the ease and convenience of paying your contractors with a Wise business account and you can focus on getting more revenue in your business.

Why Canadian Businesses Outsource to Vietnam

While there are a few other popular countries Canadian businesses frequently outsource to, why is Vietnam favoured for outsourcing software and IT responsibilities?

Vietnam has a large pool of skilled IT talent, with a growing market that consistently rakes in tons of revenue every year. With the annual growth rate of 11.51%, there’s no question that global businesses see Vietnam as a valuable resource.²

The country is also known to have much lower labour costs than Canada, with a gross monthly salary range of 3.6 million VND to 16.5 million VND the equivalent of 198 CAD to 905 CAD.³ This cost-effectiveness is a huge asset for businesses who are looking for high-quality work for a fraction of the expense.

With a diligent workforce as well, Canadian businesses won’t have to worry about work ethic when outsourcing to Vietnam. Vietnamese workers are also quite receptive to the ways of Western work culture, which makes collaboration seamless. The Government of Vietnam approved the National Digital Transformation Program to support the growth of the IT market for product imports and for a variety of industries to adopt advanced IT solutions.⁴

Benefits for Canadian Businesses

Software outsourcing companies in Vietnam are full of perks for Canadian businesses.

• Big cost savings: There’s the inherent benefit of cost savings, where funds can then be allocated to other potentially more pressing aspects of the business.
• Access to a wide range of software development skills: Outsourcingopens doors to a new pool of dynamic talent, allowing you to escape the constrained labour market in Canada
• Faster time-to-market and scalability: Built to scale depending on your company’s needs, which means they can help speed up your time-to-market.
• Allows focusing on core competencies: Delegating your software and IT away means your team can focus on what they’re experts at.

Software Outsourcing Companies in Vietnam to Consider

Not sure where to start? Here are some reputable software outsourcing companies in Vietnam to kick off your search.

Saigon Technology

Saigon Technology is a modern software outsourcing company with over 10 years of experience in working with both local and international clients. They were awarded a Certification of Excellent as one of the top 15 best software outsourcing companies in the country and rank among the 50 leading software companies in Vietnam. Saigon Tech is also certified with an ISO/IEC 27001 and ISO 9001.⁵

Expertise:

• AI development services
• Offshore software development
• DevOps services
• Software QA testing
• Cloud migration services
• PoC development services
• Software maintenance and support, and more.

You can reach Saigon Technology by phone, email, or through their contact form¹⁰.

Rikkeisoft

Rikkeisoft has been around since 2012 and has become a reliable partner of 500+ companies around the world. They’re one of the top three tech companies in Vietnam, and they have a presence in 10 cities.⁶ Their services include IT services and digital solutions for clients of all sizes in a variety of industries, including finance, retail, healthcare, transportation, media, logistics, and more.

Expertise:

• System migration
• Managed services
• Quality assurance
• Software development
• Salesforce
• AI
• Blockchain
• Cloud, and more.

Although Rikkeisoft doesn’t have a Canadian office, you can contact them through their website contact form¹¹.

FPT Software

FPT Software was established in 1999 and now has a strong global presence in 30 countries and territories and 82 offices as of March 2024. They manage over 1000 clients, with 91 of those being Fortune Global 500 companies.⁷ They’ve won countless awards, including triple wins at Vietnam’s Biggest ICT Award Program and double wins at the IT World Awards.

Expertise:

• Strategic consultancy
• IoT
• AI
• Blockchain
• Digital commerce
• Product engineering
• Managed services
• Experience design, and more.

You can contact FPT by phone or through their contact form¹².

Savvycom

Savvycom stands out as the only member of the Apple Consultants Network in Vietnam and also ranks among the country’s top 10 software development and IT outsourcing companies.⁸ Their local IT professionals have 15 years of experience dealing with startups, SMEs, and enterprises in banking, healthcare, retail, finance, education, and nail salons.

Expertise:

• UI/UX design
• E-wallet
• Digital transformation
• Cybersecurity
• Blockchain
• Mobile app development
• Cloud & DevOps
• Web app development, and more.

Think Savvycom is the right fit? Contact them by email, phone, or through their contact form¹³.

CMC Global

CMC Global has over 30 years of experience, more than 300 global clients, and has operated in more than 30 countries. They are experts in working with international enterprises, although they also handle startups and SMEs.⁹ They rank among the top 10 IT service companies in the region, delivering world-class service with vast service offerings for logistics, fintech, healthcare, automotive, media, and manufacturing.

Expertise:

• Legacy migration
• Software maintenance
• Custom software development
• Data analytics
• AI
• Cloud professional services
• IoT
• Service working models, and more.

CMC Global has three offices in Vietnam, and you can either give them a call, chat with a sales rep on LinkedIn, or fill out their contact form¹⁴.

Challenges and Considerations When Outsourcing from Canada to Vietnam

The differences in the legal landscape, compliance requirements, and other nuances in working culture can present a couple of initial challenges if you haven’t outsourced to Vietnam before.

• Reputable outsourcing companies often come prepared to deal with any taxation issues or legal requirements, with systems in place ready to handle those matters. They’ll typically be able to outline any necessary withholding taxes or any relevant outsourcing laws in Vietnam or Canada that you should be aware of. This is much different from hiring an independent contractor and having the onus be on your own company.

• With companies in Vietnam also operating in an entirely different time zone, you’ll also have to manage any live meetings or communication effectively. Are there certain deliverables that need to be given on time? You won’t want to have the company close down for the day and be left in the dark.

• The last and potentially most stressful part of international outsourcing is payment. Making any cross-currency transaction usually comes with the burden of inflated exchange rates and hidden costs, as well as lengthy transfer times – whether you’re using online money transfer platforms or traditional banks. Luckily, Wise can simplify the process and keep those costs low, with the availabiity of the mid-market exchange rate for all account users.

What is the mid-market exchange rate? Also known as the interbank exchange rate, the mid-market exchange rate is used by banks and financial institutions to trade currencies. This also happens to be the exchange rate you often see on Google.

Simplify your international payments with Wise

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in over 40 currencies such as Canadian dollars, Vietnamese dong, Indian rupees and more. You can get major currency account details for a one-off fee to receive overseas payments like a local. You can also send your money to over 160 countries at the mid-market exchange rate.

Open a Wise Business account online

Conclusion

Vietnam has proven itself to be an exciting prospect for Canadian businesses looking to outsource their IT and software operations. With their skilled workforce and many esteemed outsourcing companies, this flourishing tech hub is well-equipped to handle your IT processes. To complement your international expansion, Wise can reliably handle your international business payments.

If you’re ready to tap into Vietnam’s tech workforce, start the journey by opening your very own Wise business account today.