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Benefits & Risks of Offshore Software Development Every CEO Should Know. Here we provide the essence of everything the CEO must know before making a decision on collaboration with offshore software development companies. Offshore development implies collaboration with a software team based overseas. It enables companies to focus on different product aspects simultaneously and improve them more effectively. It may save a lot of time, costs, and effort for the company. There is a risk of misunderstanding on the offshore development project, caused by poor communication between stakeholders.