Chilean human resources software provider PayRoll has invested more than US$3mn in acquiring 50% of Argentine IT company In Motion Factory, located in Córdoba city, to develop its own software, company CEO Héctor Gómez told BNamericas.
Software development is currently one of the main requirements for PayRoll to be able to supply from Argentina to other countries in the region where the company operates.
"At the moment, we're in the process of obtaining the highest level of CMMI certification," said Gómez, adding that more than 30 engineers are working at the software factory, located in a tech hub together with other enterprises such as HP and Oracle.
According to Gómez, at the software factory "we use, re-use and store all the information, because we have people from Argentina sending their requirements, as well as from Peru and Chile."
Another incentive for setting up a software factory in Córdoba, Gómez said, has to do with the lower salaries for high-quality professionals, as well as the tax benefits that the Argentine government offers.
The executive highlighted Argentina's software law, which allows companies to reduce taxes when investing in software development, as well as incentives in terms of infrastructure. "You can create and acquire spaces like this in a tech hub with really convenient prices per square meter, which is very interesting."
The company's strategy is to consolidate existing business in Peru, identify further acquisition opportunities in Argentina and open new offices in Colombia and Panama.
PayRoll operates in Chile, Argentina and Peru and has presence in Uruguay, Paraguay, Bolivia and Ecuador.