NearShore Technology Chairman Rory Brown Weighs in on Mexico IT Verticals Working for US-Based Companies
Nearshoring in Mexico offers competitive advantages within specific industries. U.S.-based customers are finding value among technology providers active in highly regulated verticals such as finance, healthcare, and high technology. These verticals often require “high-touch” engagements in which consulting professionals can act in partnership with CIOs, IT managers, and directors.
Another major advantage is that most regulatory processes are aligned between the United States and Mexico. Many are interchangeably accepted between the two countries (i.e., ISO 13485 for medical device manufacturers). This is not true of India, China, or Eastern Europe. Clients in the United States working in regulated environments “own” the work-product of their supply chain in the eyes of U.S. regulators, which means that Mexico can be a lower-risk supplier for IT services. Software, in particular, is identified as one of the highest-risk components of medical devices by the U.S. FDA and is therefore highly scrutinized.
Cultural alignment and the ability to work within compatible time zones are critical to success in highly regulated verticals. Individual nearshore providers can also distinguish themselves by drawing on specific vertical market experience. This, in turn, can result in distinct methodologies that separate their value proposition from high-volume, commodity-driven, offshore providers. Ideally, expertise in these markets should not be an “add-on,” or only project-specific, but should function as a core line of business. This requires an understanding of how teams work, the specifics of project development, and the requirements of ongoing managed services.
Given the requirements of these verticals, a nearshore provider should be well versed in regulatory compliance and how legacy systems can integrate to support secure mobile applications and software-as-a-service. Within finance, for example, a nearshore provider would ideally have expertise in asset management, deposits, lending, loan servicing, loss mitigation, portfolio management, regulatory compliance, and trading platforms. And in healthcare, specific examples might be barcode solutions, cardiology and laboratory systems, clinical decision support, and other systems that are specific to healthcare providers, including content management and hospital automation.
NearShore Technology Chairman Rory Brown agrees that in these verticals, business continuity and disaster recovery are key, as is an ability to leverage reporting solutions to deliver business analytics via self-service portals.
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