Why is foreign necessarily considered to be superior?

November 5, 2009 at 7:07 am 7 comments

JS Global Online
Whereas I am a strong proponent of businesses purchasing whatever they consider best for their needs, it confuses me when local financial institutions purchase software that is much more expensive simply because it has the “foreign” tag – especially when several local tried-and-tested solutions are available.

This website of JS Global irritates the hell out of me and, as a blogger, I don’t have to wait for a mainstream newspaper or television station to pick up this story and talk about it. JS Global proudly advertise:

JS adAren’t they aware that in this city, on Tariq Road in Karachi, there is a company with 100 bright talented individuals who have written every line of code for a FIX engine, FIX platform, Order Routing and Management System, etc.

And are they not aware that this solution is running not only on the floor of the New York Stock Exchange, the Philadelphia and Chicago Stock Exchanges and many other stock exchanges in the US, but also in 200 brokerage houses in the US of A.

If this locally made solution is good enough for the big boys in the US, why do businesses in Pakistan have to bother to look outside to purchase software that is not only more expensive but would require support from a distance should a problem arise?

Sure, it is their prerogative to buy what they choose to but I really fail to understand the logic behind these kind of business decisions, and I had to vent to get it out of my system.

Entry filed under: Posts.

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7 Comments Add your own

  • 1. ali hamamd  |  November 5, 2009 at 1:24 pm

    Oh comeon .. Foreign developed.. Give me a break ..

    I think the content writing thing must also be handed over to the dev. teams as the Marketing/Sales ppl thinks that this fancy “Foreign” word can attract lots of customers

  • 2. Farzal  |  November 5, 2009 at 1:43 pm

    its that easy to irritate you hunh 🙂

  • 3. Jehan  |  November 5, 2009 at 1:46 pm

    @Ali man you are a cynic? Why would you suspect them of lying?

    @Farzal yeah it does irritate me that we undervalue and underestimate the best of class that exists in Pakistan. It is not fair!

  • 4. ali hamamd  |  November 5, 2009 at 1:51 pm

    um not suspecting them of lying, I was a lill frustrated to see that line “first foreign dev” , well we in our company have developed extremely sophisticated banking solution and Foreign banks are using em ..

    btw I hate JS Bank never tried JS investments 😛

  • 5. Haris  |  November 5, 2009 at 2:45 pm

    how about Telenor and I guess MCB as well buying from Fundamo?

  • 6. X---  |  November 5, 2009 at 3:16 pm

    Thats JS for you, but i wouldnt expect them to write “pakistan’s first foreign developed software”…it just doenst make any sense!

    @Haris: Telenor and MCB buying from Fundamo is different, because:
    a) a local company is selling the solution and post sales service;
    b) Because Fundamo provides a proprietary platform that many companies use the world over.

    In this case, FIX is a messaging protocol only. The company that Jehan Ara is referring to, also worked to make the KSE Fix compliant. So in effect, any company can develop the software, as long as it is FIX compliant, and then these can connect.

    The point here is that when a company is already writing fix compliant code right here in Karachi, in addition to providing the same platform and service to over 150 trading entities in the US and other parts of the world, it kind of doesnt make sense for a Pakistani entity to go out and dish out tons of foreign exchange when a local company is serving the US and exporting its services.

    I hope im making sense here.

  • 7. Asim  |  November 12, 2009 at 2:33 pm

    hmm ….well… its weird that they are using a foreign developed product, in the presence of a 100 sized company at Tariq Road who is serving 100 brokers in the US And a 20 developer compnay in Gulshan who are serving a dozen of broker dealers inclucing usa/europe.
    but I do know that JS has been working hard to find a local group for their product…dont know what happened with that…..


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