Locally developed software is now replacing imported ones alongside their successful outbound activities mainly due to its world class quality and lower costs, industry insiders said.
Local information technology (IT) and software service providers said they are helping Bangladesh save over Tk 5.0 billion worth foreign currency every year.
They said most of the leading banks and insurance companies, along with exporters, particularly in readymade garments, knitwear, pharmaceuticals and leather sectors, are increasingly choosing local software and IT-enabled services making software a significant contributor to national export earnings, they added.
"Earlier there was a fear among local entrepreneurs about using local software but now-a-days they are increasingly choosing domestic solutions instead of overseas ones," G. T. Soft Director (Marketing) Imrul Kayes told the FE.
"Local IT firms are now working for many world renowned business houses. So there is no doubt about our capability?" he said.
BASIS former director TIM Nurul Kabir said, "Local programmers can develop world class software at almost one-third the cost of foreign ones along with providing better services."
"Many foreign software companies, mainly from India came to the country in the beginning of the new millennium and installed their software in many export oriented factories, most of which have now been replaced by locally developed software," he informed.
Bangladesh Association of Software and Information Services (BASIS), former president AKM Fahim Mashroor said using imported software was once a status symbol to the local entrepreneurs which now has started changing gradually.
"We had to pay a lot to bring trust on the quality of locally developed software. Now there is now no doubt about our capability," he added.
"We've a huge market in the growing local industries. The annual business, which is now around Tk 5.0 billion, has a potential to grow several fold within a couple of years," he added.
Sector insiders said if the local companies use domestically developed software then IT professionals would get jobs and thus country's position both at home and abroad would be strengthened in the years to come.
Mr Kabir said the IT sector earned over US$100 million from export of software with around 50 per cent growth in FY2012-13 and the growth is still continuing in the running FY.
Bangladesh earned US$63.83 million from the software export in the July-February period of the current financial year (FY) against $59.55 in the corresponding period according to Export Promotion Bureau (EPB) data.
The country exported software worth $100.63 million in 2012-13 financial year, up by 43.53 per cent from the previous year's $70.81 million, the data showed.
In addition, freelancers exported IT products worth around $25 million, which does not come in the government's records, he added.
Mr Kabir informed that there are more than 25,000 active freelancers who work at home and earn foreign currency.
According to different IT enabled local businessman, Bangladesh has one of the most attractive population demography in the world -- relatively high young population base as over 34 per cent are in age group of 15 to 34 years which is favourable for IT-BPO industry.
According to the sector insiders, approximately 70,000 professionals are now employed in the sector.
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