Australia’s ‘MyBudget’ to set up a technology innovation centre in Sri Lanka this year
It is indeed an era where the husband and wife in a family knows little about the monthly earnings of each other, the expenses each of them make and their savings by the end of the month. Often this triggers conflicts.
Tammy Barton
However in Sri Lanka, there is an option to use where a company manages an individual’s finances by getting his or her monthly salary into account that could solve issues that trigger within a family because of money. The largest personal budgeting company in Australia ‘MyBudget’ manages the finances of individuals by getting their monthly salaries.
MyBudget Founder and Director, Tammy Barton during a visit to Sri Lanka last week in an interview with the Business Times explained how her company has solved many family problems in the past 19 years since its inception in 1999. Ms. Barton was recently recognised as the South Australian Business Woman of the Year in 2017.
She said, “We help individuals keep track of their finances and put together a money plan to achieve their financial goals. Their salaries are proportionated into rent, mortgage, insurance, school fees and so on and we pay all bills on behalf of them. We give our clients the structure they need to make the right decisions in achieving their financial goals, but live the life they want without having to worry about money.”
This is not only for the businesspersons in Australia but also targeting the common man, she added.
“I make a really big difference in people’s lives,” she emphasised while elaborating that it might seem like managing someone’s money is mundane and worrying but it helps people achieve their financial goals and reduces the stress in people’s lives. Conflicts between husband and wife have reduced a lot in Australia, she noted.
Going back to the beginning of the company, Ms. Barton stated that ‘MyBudget’ started from nothing on a kitchen table to a company that employs over 250 employees today. “We manage over one billion Australian dollars on behalf of our clients. Our intention is to take the business globally, not just in Australia. We are headquartered in Adelaide with 15 offices in Australia.”
Ms. Barton noted that the company will make a significant investment on a software development innovation centre in Sri Lanka in November this year.
Around 100 software development engineers will be working on the technology aspect of ‘MyBudget’ from Sri Lanka alongside the team in Australia. “We also have our contractors working on the technology for MyBudget in the US and we have some people working in the UK. We will open an office in the UK next year,” she added.
Ms. Barton has been an advisory board member of Bank South Australia since 2012 and a board member of Project Gen Z since February 2017. She regularly contributes as a speaker at events and conferences, including the Committee for Economic Development Australia’s Leadership Series, the Entrepreneur’s Un-convention, the Secrets to Success Convention, Run the World Female Entrepreneur Conference, KPMG’s International Women’s Day event, the Uni South Australia Great Debate and the Australian Institute of Business Brokers National Conference.