Potential for entrepreneurs in Sri Lanka:

Technology boosts knowledge economy

Ramani Kangaraarachchi

Madura Gamanayake

Today is a knowledge economy era. Advanced technology is vital in a knowledge economy. It could earn millions of rupees in foreign exchange. Sri Lanka is fortunate to have some experts in this field who can contribute immensely to the country’s economy.

Managing Director, Perfect Business Solution Services (Pvt) Ltd Madura Gamanayake who counts over 15 years in the trade has a wealth of experience.

He has done over 250 accounting software system implementations and project management for Sri Lanka and overseas companies.

Senior trainer

The company is hundred percent local and earns about Rs.5 million monthly. It has a 20 percent market share locally and employs 30 consultants.

Gamanayake was a visiting lecturer at the Institute of Bankers of Sri Lanka and for CIMA on Financial subjects and is a senior trainer in Computerized Accounting Systems in Sri Lanka.

He was interviewed by Daily News Business.

His vision is to be the foremost IT solutions provider with accurate and timely solutions in a dynamic and technological environment.

An old boy of Nalanda College, Gamanayake, studied Bio Science to be a doctor. However, he was short of four marks to enter the medical college.

Then he shifted to the field of Accountancy and qualified in CIMA, Marketing and IT.

Experience

He obtained his B.Sc with a specialization in Finance and obtained an MBA degree too. He worked for several multinational companies while doing higher studies and gained experience for several years locally and overseas.

“I was undecided, whether to migrate to Australia or to set up a business here in my country.

However, I felt that I can do a better service to the country by starting a business here,” he said.

“Then I set up Perfect Business Solution Services (Pvt) Ltd as a limited liability private company in January 2003 as an advanced information technology solutions provider specially for accounting affairs for Sri Lanka’s small business and large enterprises.

It currently offers almost all the IT products and services to Sri Lankan and overseas companies.

PBSS is the authorized distributor and certified consultants for Sage Accpac ERP accounting software, the sole authorized distributor and certified consultants for Peachtree by Sage, and the sole authorized distributors and certified consultants for AccuPOS Retail Point of Sale systems and authorized business partners for Sage UBS for Sri Lanka.

Enterprises

“Then I set up another company called Perfect business solution International (Pvt) Ltd in 2005 as an advanced information technology solutions provider especially for accounting and IT affairs for small business and large enterprises abroad.

The company commenced its commercial operations in November 2005 in Saudi Arabia fulfilling international customer requirements, he said. In 2007, PBSI started USA operations by opening its USA office in Maryland (MD).

Employees of the Research and Development department at work. Pix by Sumanachandra Ariyawansa

The company started Maldivian operations in the last quarter of year 2007 with the objective of servicing the hospitality and related business sectors. Within a short period PBSI Maldives became the leading Business Software Solution Provider in the country by providing ERP solutions to the country’s top company ADK Group.

Challenges

Asked about the challenges, Gamanayake said it was very difficult to get into the foreign market because they had to build customer confidence. Also it was huge responsibility as the company gave all their confidential data to us to do the solution and we have to maintain it. His future plan is to venture into the international market in Africa. At present he has companies in the Maldives, US and the Middle East.

Locally he plans to go to rural cities and introduce simple packages. According to market research he found that fifty percent of people in rural areas are willing to accept software systems.

Asked about the secret behind his success, he said, “I believe in myself and improve the quality of the services and never mislead my customers,” he said.