White Paper: FinanceTech Plays Key Role in Advancing Mexico’s IT Ecosystem

In a newly published White Paper, Nearshore Americas illustrates how Mexico’s young technology workforce is growing from strength to strength, and how local BPO firms, such as Financetech,  are …

In a newly published White Paper, Nearshore Americas illustrates how Mexico’s young technology workforce is growing from strength to strength, and how local BPO firms, such as Financetech,  are working towards reinforcing Mexico as a global hub for enterprise IT and software services.

The paper highlights Mexico’s Young Entrepreneurs Model designed to encourage entrepreneurship among the country’s youth. According to the World Bank, Mexican government is increasingly using this model and has already provided training to 82,600 young entrepreneurs.

Mexican government’s effort to advance regulatory reform is bearing fruit and a new breed of enterprises are taking birth every day. Mexico City’s online service, Tuempresa, is processing about 100 new business registrations a month.

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According to the White Paper, reforms are in place in 186 municipalities across 30 states, with new initiatives and procedures coming on line monthly. The Paper goes on saying that much of the resulting transformation in business processes is being assisted by companies like Financetech.

Financetech, the White Paper says, can deliver an effective information management system for about half the price of a traditional software project. Local governments, often faced by cumbersome reporting processes, are increasingly taking advantage of Financetech’s technology solutions to streamline their financial reporting system.

“Previously it might have taken five to six weeks to prepare a report to determine available financial resources. We’ve reduced that to a few minutes,” says Ricardo Parés Arce, Financetech’s sales VP.

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Financetech, according to the paper, has also launched a training program (La Cátedra) aiming to develop the social and technology skills of students seeking a career in IT. The idea is to get young people prepared to handle themselves in a global environment, where specific methodologies are required for demanding projects.

La Cátedra Financetech also includes key management methodologies for Global Project Management and instruction on selected topics such as Smart Sourcing and Nearshore services.

The skill trainings, according to the Paper, are transforming the Mexican labor market. Given a study from the International Labor Organization (ILO), Mexican labor market is on a sound footing, with a narrowing of the participation gap between men and women.

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