Software testing simply does not mean looking out for errors, that is called debugging. Testing includes ensuring that the product works as expected. The reports of the testing would not only only look for errors but also how to rectify them. If software debugs, but does not know how to deal with the errors. it is of no use. Software testing operations include processes such as test maintenance, test automation and defect management. The first priority is to look for errors, the second to prepare a report with detailed analysis of the errors present and its whereabouts so that you do not waste time locating them because usually programs are lengthy enough to drain you out. The third part would be to get rid of the errors. A lot of money annually gets wasted because of the bugs affecting the software products without proper testing applications.
With constraints on budget,most software companies tend to overlook the testing operations. The money saved is spent on innovative mechanisms. But, it affects in the long run because developing a software product without testing services is like working hard on a project and not having a backup of that file saved.
The alternative option is to reduce the cost and outsource testing services to other nations where setting up an office will get the work done at relatively cheaper cost. Asian nations particularly India is known worldwide for the offshore services it provides. Educated labour force ready to work at relatively cheaper pay as compared to their foreign counterparts adds to the advantage the foreign companies looks for while cost cutting. Software testing is the most important part after developing any software product. Any product without effective testing services is bound to get affected in the long term.