The software industry in Bangladesh is growing rapidly, yet several misconceptions continue to cloud the perception of this vibrant sector. These misunderstandings often arise from outdated ideas and a lack of information about the country’s technological capabilities. Let’s debunk some of the most common myths about software companies in Bangladesh and provide a clearer picture of this flourishing industry.
1. Software Companies in Bangladesh Are All Small-Scale
Contrary to popular belief, not all software companies in Bangladesh are small operations. While there are startups and small to medium-sized enterprises (SMEs), Bangladesh is home to many large, globally competitive software firms. Companies like Recom consulting Limited ,DataSoft, Brain Station 23, and BJIT operate on an international scale, employing hundreds of professionals and handling large-scale projects for global clients.
2. Lack of Technical Expertise Among Developers
There is a misconception that Bangladeshi software developers lack technical skills. The reality is far different. Many Bangladeshi developers are well-versed in advanced technologies, including AI, machine learning, blockchain, cloud computing, and data science. Furthermore, many professionals hold international certifications and degrees from leading global institutions, making them competitive in the global market.
3. Focus on Basic IT Services with No Innovation
It’s commonly believed that Bangladeshi software companies only focus on basic IT services without contributing to innovation. In fact, many firms in Bangladesh are at the forefront of developing innovative solutions in areas such as FinTech, healthcare technology, logistics, and e-commerce. Companies like Pathao and Shohoz have made significant strides in digital transformation through innovation in their respective sectors.
4. Bangladesh Is Merely an Outsourcing Destination
While outsourcing plays a significant role in the Bangladeshi software industry, it is not the sole focus. Many companies are creating and exporting their own software products internationally. For example, REVE Systems has developed a range of VoIP and telecom solutions that are widely used in various global markets. The industry is diversifying into both product development and outsourcing services.
5. Language Barriers Affect Communication
Some believe that language barriers hinder effective communication with Bangladeshi software firms. In reality, English is the primary language of business communication in Bangladesh, especially in the IT and software sectors. Most companies ensure that their teams are proficient in English, enabling them to work seamlessly with international clients from North America, Europe, and beyond.
6. Bangladesh Lacks Adequate Technology Infrastructure
Another misunderstanding is that Bangladesh doesn’t have the infrastructure required to support a robust software development industry. On the contrary, the government has heavily invested in IT infrastructure through projects like Bangabandhu Hi-Tech City and Jessore Software Technology Park. These tech parks offer state-of-the-art facilities, high-speed internet, and the resources necessary for software firms to compete globally.
7. Low-Cost Software Development Equals Poor Quality
The idea that the low cost of software development in Bangladesh translates to poor quality is inaccurate. Software firms in Bangladesh maintain high-quality standards and are often certified in ISO 9001 and CMMI Level 3 and 5. These certifications ensure that the software produced adheres to international standards, while the lower cost is largely due to the country’s economic environment, not a lack of quality.
8. Software Companies Don’t Invest in R&D
There’s a misconception that Bangladeshi software companies don’t focus on research and development (R&D). In reality, many firms, especially in the FinTech and healthcare sectors, are investing heavily in R&D. Companies like Grameenphone have established innovation labs to explore new technologies, while startups are focusing on disruptive innovations to gain a competitive edge in both local and global markets.
9. Limited Contribution to the Global Market
It is often thought that Bangladesh’s software industry only serves local clients. In fact, the majority of Bangladesh’s software revenue comes from export markets. Over 80% of the country’s IT service revenue is generated from exports to North America, Europe, and Asia. This demonstrates the industry’s growing role as a key player in the global technology market.
Bangladesh’s software industry is emerging as a significant force in the global IT landscape, driven by innovation, expertise, and infrastructure. Addressing these misconceptions is crucial to recognizing the true potential of software companies in Bangladesh, both locally and internationally.