Aussie’s ‘MyBudget’ to invest AU$4 m in Sri Lanka’s software development
While Sri Lankan software engineers and software architects have advanced tremendously in the technological spectrum in foreign countries, Australian company MyBudget, an institution that manages finances of an individual online, is eyeing to invest AU$ 4 million in Sri Lanka to recruit quality software engineers. The company recently set up its Software Development Centre in Sri Lanka to commence operations.
During an interview with the Business Times, the founder and Director of MyBudget, Tammy Barton outlined the plans for MyBudget in Sri Lanka. She said, the company is making a significant investment in Sri Lanka in software development. “We are hoping to invest around AU$ 4 million in Sri Lanka this year. We are looking at quality software engineers who want to work for a company that is value centric and build a world class product not only for the people in Australia but worldwide. People around the world have financial stress and we want to free them of such stress,” she added.
The company has set up its innovation centre in Sri Lanka while employing local technical staff for their global expansion of business. Ms. Barton also stated that 80 per cent of Australia’s market for financial management is within MyBudget with over a billion dollars of portfolio managed in Australia.
She noted that in Australia it’s very difficult to find quality software engineers and software architects. The company also has a partnership in Sri Lanka with Calcey Technologies where 16 employees are working for MyBudget’s software development. In Australia the company has over 250 employees. “As the company grows we are rebooting all our technology suite. We are planning to expand the team here in Sri Lanka from the seven that we have at the Software Development Centre and the Calcey Technologies team to 20- 30 within the next six months and within a year there will be around 50 software engineers working for MyBudget in Sri Lanka. We have rapid growth on the horizon because all the way we want to transition into a technology- driven value centric company,” she stressed.
MyBudget mobile application software involves money, scheduling payments for the bills, helping people achieve their financial goals, working out people’s financial position and looking forward into the future to see where people are heading with their money. People get peace of mind through the software application. The software is a subscription model and people pay weekly to use the service. Security is the main priority of the app which is secure like the Australian banks, she noted.