Q2 | Opening an office in Mexico under the Build-Operate-Transfer (BOT) model

Q2 is a Texas-based financial firm that offers digital banking services and integration to help financial institutions transform their businesses, aiming to create a secure, less-cluttered, and extensible back office.

The Issue

As the company grew, so was the need to hire high-level tech professionals to fill several different positions in the company. Opening up an office in Monterrey, Mexico, was a logical next step for them— given the country’s proximity and well-established talent market.

Q2 Today

To this day, Q2 and CodersLink continue their partnership as they transition to the Mexican office, redefining the capacity and role as the company’s needs demand.

Problem

Hiring tech talent in Austin, Texas was very competitive, and the company struggled to fill positions. As the company decided to expand its operations, they looked into filling those gaps with remote talent.

Thanks to its proximity and some familiarity with the country, Q2 looked to Mexico. They ventured to open up an office in Monterrey, but they had several questions and concerns about the process, transition, and logistics involved in hiring Mexican talent.

Their ultimate goal was to open up their own entity in Mexico. Of course, this would require a considerable time commitment upfront, and they wanted to start building momentum on a solid foundation. So, they opted for a tech solutions partner to expedite the process without sacrificing candidate quality.

Opening up a satellite office is a big undertaking with logistical and legal ramifications and considerations. Untangling all of this while trying to hire a new team and ensure quality candidates was a monumental endeavor. So, they looked for support with the CodersLink Build-Operate-Transfer (BOT) model.

Q2’s initial concerns were:

• Location. The company wondered whether Monterrey was the appropriate destination for their office and whether it would suit their operations well.
• The market. Operating in a new market comes with a lot of unknowns. The company was concerned about how to begin the legal process of hiring remote developers and transitioning into an independent entity in a new market.
• Average salaries. One concern revolved around salaries: uncertainty about average salaries, what they could offer to get the best talent, and whether they could budget it with the many positions they had to fill.
• Available Talent. Another concern was finding qualified candidates for the various positions and profiles they had to fill. Some positions were more specialized than others and required more careful vetting and matching to ensure quality.

CodersLink engaged with Q2 to understand their market needs and potential challenges and offered the Build-Operate-Transfer (BOT) service, which involved recruiting, managing payroll, and creating a transition plan for Q2’s future expansion to Mexico. CodersLink assigned three account executives to handle hiring needs.

The partnership was close, involving discussions about compliance and legal requirements, as well as assistance with payment term options, recruiting, and vetting. CodersLink’s customizable services provided flexible options to better suit Q2’s needs throughout the process. The partnership aimed to provide a solid foundation for Q2’s transition to their independent entity in Mexico.

Results

Office equipment and welcome kits logistics 

• CodersLink assisted and supported Q2 with the logistics of purchasing and delivering computers and office equipment, as well as personalized welcome kits from the company.

50 positions filled (and counting).

• Some of the roles included: Application Support Specialists, Business Analysts, Financial Analysts, Implementation Engineer, Project Managers, QAs, Software Developers, UX Designers and Solutions Architects.

Smooth transition to establishing its legal entity in Mexico 

• The company started its easy transition of creating its legal entity in Mexico with an integrated staff of tech specialists working right away, thanks to CodersLink’s support and advice.