Johannesburg-based software development house Barone, Budge & Dominick (BBD) has beaten what it describes as 'fierce international competition` to win a R5 million contract to design and implement a treasury management system for Mexican financial services group MultiValores.
We are particularly pleased with winning this contract as it is the third time we have come up against Indian competitors.
Oliver Bischoff, shareholder, BBD
BBD, which has won several other foreign contracts in the US, Canada and Europe in recent years, will take around five months to complete the first phase of the project worth around R5 million. Payment, settlement and investment management applications are included in the overall treasury management solution being provided. All of the design work on the project will be done in Johannesburg with only the implementation phase being carried out in Mexico.
"We are particularly pleased with winning this contract as it is the third time we have come up against Indian competitors and been awarded the work," said BBD shareholder Oliver Bischoff. Other companies tendering for the project came from Mexico and the U.S.
Bishcoff said BBD won the contract due to its competitive pricing and its experience in developing treasury management systems. BBD has developed treasury related systems for clients such as Nedcor, Old Mutual and First National. He feels South African companies are becoming increasingly popular as outsourcing partners for global companies, and reports especially strong interest from the UK.
MultiValores, which is listed on the Mexican Stock Exchange, has around $US1.6 billion under management and is involved in various financial services.
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