Tag: Men-in-business

The evolving business world often creates new roles and responsibilities owing to factors like technology transformation, new concepts and values, and the complexity of organizations. These changes affect every role in an organization. The role of the CFOs too has evolved significantly over the years. Initially, CFOs were primarily focused on managing a company’s financial transactions, ensuring accurate financial reporting, and maintaining compliance with regulatory standards. Their role was largely seen as that of a financial gatekeeper.

However, in recent years, the role has transformed into a more dynamic and strategic position within organizations. Modern CFOs are expected to be strategic leaders as they now play a critical role in shaping company strategy. They collaborate with other C-level executives to drive business growth, identify opportunities, and develop long-term financial plans. They are now data-driven decision-makers who leverage big data to make informed decisions owing to the advancements in technology and data analytics. They analyze financial and non-financial data to forecast trends, manage risks, and optimize business performance.

Beyond financial risk, CFOs are now responsible for identifying and managing a broader array of risks, including operational, strategic, and reputational risks. They are increasingly required to understand and implement new technologies such as AI, blockchain, and cloud computing to improve financial processes, enhance reporting accuracy, and boost overall efficiency. Modern CFOs are more actively involved in engaging with a wider range of stakeholders, including investors, regulators, and the board of directors, providing insights and transparency into the financial health and strategic direction of the company. There is a growing emphasis on environmental, social, and governance (ESG) criteria. CFOs are often tasked with integrating sustainable practices into financial planning and reporting.

In 2011, Nashat Helal experienced a pivotal career transition when he accepted the role of CFO at the age of 30. Over the past 13 years, he has evolved significantly becoming the modern-day CFO with the above qualities. He is at the forefront of business strategy and management, encompassing company valuations, mergers and acquisitions, IPOs, and debt and equity fundraising.

The Journey

Nashat embarked on his professional journey in 2002 by joining EY’s Jordan office. His tenure at EY spanned a decade, with the first two years in Amman and the remainder in Muscat, where he led diverse teams in audit, risk, and advisory services.

Nashat’s industry experience is broad, covering financial services, real estate, healthcare, contracting, maritime, hospitality, retail, automotive, management consulting, auditing, education, and trade and distribution. Additionally, his expertise includes corporate transformations, turnarounds, portfolio management, financial planning, and strategic planning.

Nashat is dedicated to continual personal and professional development. Throughout his career, he has earned certifications such as CMA, CPA, and CFA, each of which has been instrumental in advancing his career. In September 2017, he pursued further education by enrolling in the Executive MBA program at London Business School. He graduated in July 2019, emerging as a more seasoned and well-prepared professional.
Key attributes that have defined his career include determination, consistency, discipline, resourcefulness, self-acceptance, accountability, a proactive approach, a focus on progress over perfection, and an appreciation for both the journey and its milestones. These qualities
have been integral to my professional achievements.

Presently, Nashat serves as the Group CFO of Balubaid Group of Companies (BGC), a diversified holding company operating in eight sectors within Saudi Arabia. His role involves creating value across existing businesses and future investments, leading IPO and private placement initiatives, exploring innovative fundraising strategies, and aiding the board in valuing new business prospects to attract investors and establish partnerships.

The Company

Balubaid Group of Companies (BGC) is a diversified holding company operating in eight sectors in the Kingdom of Saudi Arabia. Established in 1952 starting as a spare part trading operation, the company has grown into a multi-business enterprise with interests in automotive retail, manufacturing and industrial, real estate and entertainment, financial services, trading & distribution, professional services, fitout and furnishing, and affiliated companies. BGC is a privately held, family-owned enterprise with a diverse, multinational workforce of over 1000 employees.

The unique success factors of BGC are primarily driven by its distinctive culture:
Optimal Governance Structure: They prioritize the right degree of governance with a lean and agile organizational structure that adapts to our dynamic market. There is a clear delineation of authority between executive management and the board of directors. Roles and responsibilities are well-defined, thoughtfully considered, and effectively communicated to all team members.
Transparency and Accountability: BGC fosters a culture of transparency with no hidden agendas. Clear and concise communication is key, as it sets expectations and goals from the outset. This approach promotes high levels of ownership and accountability, empowering team members to take full responsibility for their actions.

Strategic Alignment: They ensure that each team member is involved from the planning stage, understanding how their work aligns with the group’s strategic direction. This involvement helps in executing their jobs with a thorough comprehension of the broader goals.
Diverse Perspectives: BGC values a diverse team with varied backgrounds, experiences, and nationalities. This diversity brings balanced perspectives to our decision-making processes, aiding in optimizing performance in a dynamic market.
Executive Management’s Open-Door Policy: BGC management exhibits maturity and adopts an open-door policy. This approach provides team members with the confidence to perform their tasks without the fear of micromanagement or misuse of authority. It fosters a sense of ownership and aligns personal interests with the group’s objectives.

A Seasoned Leader

Nashat’s leadership style is defined by a blend of empathy, innovation, and continuous improvement.
People-Centric Leadership: Nashat is often described as a “people guy” because he genuinely cares about his team members and their well-being. Building strong, trusting relationships is at the core of his leadership philosophy. He prioritizes the development and growth of his team, ensuring they have the support and resources needed to excel in their roles. He believes that when people feel valued and their contributions are recognized, they are more motivated and engaged.
Results-driven: While Nashat emphasizes a people-centric approach, he is also firmly committed to delivering results. He sets clear expectations and ensures that the financial goals are met with precision and excellence. His leadership strikes a balance between compassion and performance, fostering an environment where the team works hard and achieves the objectives together.
Innovative Thinking: Thinking outside the box is a key component of Nashat’s work style. He encourages his team to explore creative solutions and innovative strategies to overcome challenges and improve their processes. This mindset has been instrumental in driving BCG’s financial success and keeping them ahead in an ever-evolving business landscape.
Adaptability: Adaptability is another defining trait of Nashat’s leadership. In the dynamic world of finance, being able to pivot and respond to changes swiftly is crucial. He embraces change with a positive attitude and inspires his team to do the same, ensuring that they remain resilient and agile.
Continuous Improvement: He is always on the run to improve his skills, knowledge, and personal qualities, and he instills the same ethos in his team. Professional development is a priority, and he actively seeks out opportunities for learning and growth. By fostering a culture of continuous improvement, BCG stays competitive and maintains its edge in the industry.

Uplifting the Local Community

Balubaid Group has a dedicated committee responsible for overseeing all social corporate initiatives that look to uplift the local community and support social causes. This committee actively participates in various national and international events. For instance, last year, they collaborated with an association focused on supporting diabetes patients. Additionally, they periodically work with Bupa Insurance to conduct health checks for their employees, promoting awareness and maintenance of a healthy lifestyle.

BGC also partners with governmental sectors such as the Ministry of Interior. Last year, during Police Traffic Day, they participated by offering gifts to police officers on duty as a token of appreciation for their efforts towards society.

On the educational front, representatives from BGC’s finance team led by Nashat participated in the annual forum organized by the Faculty of Economics and Administration at King Abdulaziz University. During the forum, they engaged with students, answered their questions, and provided professional advice.

“We have coordinated with the faculty to create opportunities for students through cooperative training programs at Balubaid Group and its subsidiaries. This initiative is part of our broader commitment to corporate social responsibility, aimed at equipping young graduates and empowering them,” shares Nashat.

Green Initiatives

Balubaid Group undertakes several Sustainability Initiatives including:
Riyadh Green Project: Through its manufacturing arm, Arabian Planet for Plastic (APICO), Babubaid Group is collaborating with the government on the Riyadh Green Project as part of the Vision 2030 initiative.
Carbon Emission Reduction: Balubaid’s factories are developing solutions aimed at significantly reducing carbon emissions, contributing to a cleaner environment.
Biodegradable Technology: They are continuously enhancing the technology in their plastic factory to produce more biodegradable products, ensuring they are environmentally friendly.
Digital Transformation: Across the Balubaid group of companies, they are promoting the reduction of paper usage and embracing digital solutions as part of their ongoing digital transformation journey.

Modern Challenges

Nashat shares some common challenges that he encounters as a modern CFO in today’s dynamic market conditions:
Economic Volatility: Fluctuations in the market due to geopolitical instability, trade wars, or economic crises.
Regulatory Compliance: Keeping up with the ever-changing regulations and ensuring the company remains compliant.
Technological Advancements: Rapid technological changes require continuous adaptation and investment.
Cybersecurity Threat: Increasing risk of cyber-attacks and data breaches.
Talent Management: Attracting and retaining top talent in a competitive market.
Cost Management: Balancing cost reduction with the need for growth investments.
Stakeholder Expectations: Meeting the high expectations of stakeholders for transparency and performance.

Staying Updated with the Trends

Being a strategic partner is crucial in navigating the complexities of today’s business landscape. Nashat believes that equipping oneself with the right tools and strategies to foresee the future is essential. To stay abreast of the latest developments in the industry, he tries and advises others to:
Develop robust scenario planning and financial forecasting to prepare for various economic conditions.
Use benchmarking tools to compare the company’s performance against industry standards and competitors, helping me understand where my organization stands and identify areas for improvement.
Invest in a comprehensive ERP system like Oracle to integrate various business processes, providing a unified consolidated view that supports strategic decision-making.
Invest in compliance and maintain a dedicated team to monitor regulatory changes.
Where possible, integrate emerging technologies like AI and blockchain into financial operations and invest in ongoing tech training for the finance team.
Focus on employee engagement, provide career development opportunities, and foster a strong company culture.
Use advanced data analytics to identify cost-saving opportunities without compromising on growth initiatives.
Enhance communication and reporting practices to provide clear and timely information to all stakeholders.
Implement comprehensive cybersecurity policies and regularly train staff on best practices.
Stay updated with the latest developments in finance, technology, and industry trends through continuous education, industry conferences, and professional development courses.

Preparing for the Future

With a keen eye on the future, Nashat summarizes Balubaid Group’s next big goals being:

Diversification: Over the next three years, their primary goal is to continue diversifying beyond the automotive retail industry and to unlock growth potential in their other operating sectors.
Optimized Capital Structure: They aim to establish the right capital structure for the Group to optimize future investments.
Oracle Fusion Implementation: They are committed to successfully implementing Oracle Fusion as their ERP software across the group.
IPO Plans and Private Placements: The Group aims to achieve the IPO targets for its operating companies as outlined in its 3-year roadmap.
Talent Acquisition and Retention: Their goal is to acquire and retain top talent, fostering a culture and work environment that support these objectives.

Nashat also recognizes that to achieve these goals, he and his team will have to face several challenges ahead including:
Focus on Financial Resilience:
Implement rigorous financial controls and regular audits to ensure financial stability.
Diversify revenue streams to mitigate risks associated with market fluctuations.
Embrace Digital Transformation:
Leverage advanced technologies like AI and data analytics for better financial forecasting.
Invest in ERP systems to streamline operations and enhance decision-making.
Strategic Risk Management:
Develop comprehensive risk management strategies to proactively identify and mitigate potential risks.
Establish a risk management committee in the foreseeable future to regularly review and adjust risk policies.
Cost Optimization:
Conduct regular assessments of operational costs and implement cost-saving initiatives.
Encourage a culture of cost efficiency across all departments.
Talent Development:
Invest in training and development programs to enhance the skills of the finance team.
Implement succession planning to ensure leadership continuity.
Strong Governance:
Ensure robust corporate governance practices to maintain stakeholder trust.
Foster transparency and accountability within the finance department.
Sustainability and Corporate Responsibility:
Integrate sustainability initiatives into the corporate strategy to continue addressing environmental and social challenges.
Promote ethical business practices and engage in community development projects.
Stakeholder Communication:
Maintain clear and consistent communication with shareholders, investors, and other stakeholders.
Provide regular updates on financial performance and strategic initiatives.
Agile Strategic Planning:
Adapt strategic plans in response to changing market conditions and emerging opportunities.
Conduct scenario analysis to prepare for various future scenarios.
Capital Structure Optimization:
Continuously review and optimize the capital structure to ensure the best mix of debt and equity.
Seek opportunities for strategic investments and partnerships.

“I believe as the Group CFO my number one responsibility will continue to be addressing and improving the above mentioned,” concludes Nashat.

The medical devices industry plays a pivotal role in modern healthcare, significantly impacting patient outcomes and overall health system efficiency. This industry encompasses a wide range of products, from simple bandages to complex imaging systems and life-saving implants. Medical devices are crucial for diagnosing, monitoring, and treating various health conditions, thereby improving the quality of life for millions of people worldwide.

Moreover, the industry is a major driver of innovation, with substantial investments in research and development leading to continuous advancements in medical technology. These innovations not only enhance patient care but also contribute to reducing healthcare costs by enabling early diagnosis and less invasive treatments. As the global population ages and the prevalence of chronic diseases rises, the demand for advanced medical devices is expected to grow, further underscoring the industry’s importance.

As a leading name in the industry, Kashif Ikram, Vice President, Europe, MicroPort has had an unconventional medical device career because he did not stay in one specific therapy area. He has worked with orthopedic implants and instruments, monitors that measure the amount of blood your heart is pumping, radiation therapy for cancer patients, replacement heart valves, Stents for the brain & heart, and even skin-harvesting products. This diversity of experience has often given him an edge over others when building a business strategy or go-to-market approach.

Stumbling upon His Niche

As a youngster in school, Kashif was drawn towards biology as well as design and technology. He split his time between the biology laboratory (learning about respiration) and the workshop (learning to form metal and plastic materials). Back then, he did not know how to combine his two passions. That all changed when he discovered the medical device industry via the Orthopaedic business.

“These people were talking my language, specialty plastics and alloy implants combined with human anatomy, infection control, and fluid dynamics. After a stint launching Hip and knee replacement, I surprised my colleagues by moving into the Intensive care and Anesthesiology world,” reminisces Kashif.

Here he helped introduce to the world minimally invasive monitoring of heart performance. After that, he switched again and launched a heart valve made from a metal frame and bovine tissue. Before he became too comfortable in that world he upped the challenge again, this time moving into the keyhole surgery world where he helped launch many technologies that moved surgery from open to minimally invasive procedures. From hand-held laparoscopic instruments, it was a natural progression to robotic-assisted surgery for Prostate, Kidney, Gynecological, Lung, and Abdominal cancers and even hernia repair.

“Introducing surgical robotics is very challenging, not just from a surgeon acceptance point of view but also from a regulatory, safety, and cost perspective. Microport® ®´s Medbot Toumai® is the 4th Medical Robot I have commercialized,” shares Kashif.

A Leading Medical Device Company

Since its foundation in 1998, the MicroPort® team has been driven by its mission that patients everywhere should enjoy better and longer lives. This motivates everyone in the company to push boundaries and accelerate access to life-changing medical devices and technologies for all. Every innovation the company creates, like a heart stent, surgical robot, or orthopedic implant is designed with healthcare professionals’ needs in mind and a focus on improving the patient´s healthcare outcomes.

“We are committed to mastering the details that truly make a difference in patient care worldwide and the company attracts like-minded people from all around the world.  We are proud of the fact that every 5 seconds, a patient somewhere in the world benefits from a Microport Medical product,” says Kashif.

Microport operates in multiple international markets across multiple fields, including orthopedics, cardiovascular intervention, cardiac rhythm management, electro-physiology, endovascular, and peripheral vascular intervention, among others.  Team Microport believes that it is the little details that make life special. That’s why they are relentless in perfecting every detail of their medical technologies.

The Underlying Challenges and Hidden Opportunities

Multiple challenges face the medical device industry in its relentless pursuit to finding solutions to the healthcare challenges. AI and digital are touching every aspect of our lives and healthcare is also embracing the advantages this can bring. For example, logistics and planning AI can help better schedules or timetables, drive efficiency, and remove costs. Video and voice analyzing software can write up patient notes and disseminate them to the clinicians who need to see them. AI can help clinicians see lesions and diseases not easily picked up by the human eye and AI can even read thousands of pages of clinical publications to find the right diagnosis and potential treatment.

“We are seeing a revolution today and surgical robotics is on the cutting edge of this revolution,” says Kashif.

Another serious challenge that he feels deeply about is democratizing healthcare across the world. How do we bring the best technology and optimal healthcare practice to every corner of the globe? A key measure of how developed we are as a human society is how we help the sickest. poorest and weakest in our world. He joined Microport as it is clearly a leader in bringing technology to all who may need it.

Another key challenge, shares Kashif, is how we pay for our healthcare. As new technologies are introduced, we must ensure that with increasing costs we significantly increase outcomes and efficiencies. This is known as value-based healthcare, where the monetized value is greater than the increasing cost.

Speaking about opportunities, Kashif feels that surgical robots are very under-penetrated in the market and dominated by just a few companies. There is a great opportunity to spread the technology to more hospitals and help more patients. In addition, there are more procedures where robotics can add value through automation or accuracy. And of course, AI will have a huge impact on improving patient outcomes, reducing the burden on healthcare workers making things more efficient, and reducing costs.

“Future transformation in medical care will be driven by data, information, and its processing. Surgical robotics` evolution is often benchmarked against the passenger airline industry or the self-driving car industry,” he says.

At the Forefront of Technological Advancements

As Microport celebrates its 26th anniversary this year, the team reflects on a remarkable journey marked by innovation, perseverance, and global impact. Over the past 26 years, they have continually pushed boundaries and advanced access to life-changing technologies. With a steadfast commitment to research and development, a diverse and dedicated global team, and an expanding global presence, they see a promising path forward. One that addresses the most challenging healthcare issues, while allowing them to explore ways to impact more lives every second so that patients everywhere can continue living better and longer lives.

Microport’s conglomerate of associated companies shares resources and expertise while retaining independence and agility to innovate in close partnership with healthcare professionals and medical communities. They relentlessly pursue excellence and are uncompromising where quality is concerned. In all aspects of their businesses, they are passionate in their pursuit of the highest standards and the implementation of a continuous improvement strategy.

“We demonstrate imagination and a pioneering spirit that makes Microport a leading innovator in our industry. Our insights and knowledge are quickly and efficiently applied to maximize physician and patient benefits. Take for example our stable of Medical and surgical robots, nobody has a portfolio as broad as ours working in diagnostics, General, and Orthopedic surgery,” asserts Kashif.

Focusing on Research, Development, and Innovation

Microport deeply understands that its products are directly related to patients’ lives, and even the slightest deviation could cause a significant impact. Because of this, the teams at Microport work relentlessly to master every detail of medical technologies so that patients everywhere can enjoy better and longer lives. That’s their purpose, and it’s how they remain true to their beliefs and committed to the core values they uphold. These principles are essential to the relationships they build with their partners and customers. And it’s evident in every detail of their workday.

In the medical device industry, innovation is essential, and for innovation to thrive, a leader has to develop the right culture, look at the flexibility of how and where their people work, remove barriers to efficiency embrace digitalization, and have inclusion that shows care. Volatility has increased in all markets and innovation and creativity are often the best way to ride out the waves, or even become the disruptor in one’s space. And the more volatility the quicker the leader must change.

Leaders drive this momentum, through transparency in information, a lot of communication that builds trust, and they create clear goals and aspirations. They must invest in people and keep them engaged, and challenged even. It´s important to focus their team on being solution-focused and not become entrenched in the problems.

“The secret sauce though, let’s keep this just between us, is empowerment. When you hire the right people and empower them to be creative, that is when you see the magic happen. Because people often know what needs to be done or know how to solve major challenges, they simply need to be given permission, provided with resources, and released into safe environment. It is so motivating for people when they realize, they did it themselves, it inspires confidence that drives further creativity. Happy, successful creative people are a lightning rod for others and therefore force multipliers to your business. If people have left your team and gone on to do great things, I suggest you do some self-reflection on your leadership style,” advises Kashif.

Encouraging Diversity and Inclusion

Diversity and inclusion are subjects Kashif is very passionate about and spends a lot of time reflecting on. In healthcare, it’s a must that one brings all the talent to the table and hears everyone’s thoughts and ideas. Kashif has a 4-point model: Think Inclusion, Hire Diversity, Develop Culture, and Retain Diverse Talent.

Elaborating on this model, he says, you must first think about inclusion, foster a culture, educate leaders, and remove fear from the organization. Uncover unconscious bias, become mindful. Then hire diverse talent and find ways to attract them to your organization, ensure your selection process encourages diverse candidates. Ensure recruiters send you a variety of candidates. However, when you have them on board ensure their needs are being met and their diversity celebrated. Ensure this talent is learning and developing, integrating seamlessly into your organization. Enable learning and diversity to spread through your organization. Finally, once you have high high-functioning diverse team, retain it. Track attrition and segment the data you get in employee surveys on diverse parameters. This can be very insightful and lead to breakthroughs previously not tapped.

“However,” adds Kashif, “you must set up the right metrics for your company’s inclusion drive and hold leaders accountable. At the end of the day, you cannot improve what you do not measure!”

A Message for Aspiring Entrepreneurs and Business Leaders

Kashif would like to suggest everyone to join the medical device industry. Along with his friend Silke Riemer, he has launched a Podcast called “Our MedTech Lives” available on YouTube.com. In this podcast veterans of the industry come and talk about their careers, the challenges they overcame, and the successes they fondly remember. It’s a lot of fun and very inspiring. This podcast started from work his friends and he did for St Gallen University in Switzerland introducing the Medical Device industry to their students.

“The medical device industry is highly rewarding and challenges you every day, however, think about this, no matter what job you do, logistics, accounting, R&D, or sales at the end of the day you are helping somebody’s child to be pain-free, somebody´s parent to live longer and somebody´s sibling to be cured of their cancer. What could be more motivating or rewarding than that? It’s what gets us out of bed in the morning,” concludes Kashif.

Exafluence is a leading data and analytics company that empowers organizations to stay ahead in their industries by leveraging modern digital technologies. Founded in 2015, Exafluence specializes in IoT, Big Data, Machine Learning, and Artificial Intelligence to provide actionable insights and solve complex business problems. Their flagship platform, ExfDigital, offers a low-code/no-code solution that accelerates digital transformation and data-driven decision-making. 

A Global Solution Provider

With a global presence and a team of over 200 professionals, Exafluence serves various sectors including Healthcare, Financial Services, and Consumer Products. It is a uniquely positioned platform-led solution provider employing a tremendously talented group of people. It uses open-source and cloud-native technologies to build its solutions. We have integrated AI across the life cycle of data management and analytics.

“Everything we do is driven by one thing: How do we solve real problems? How do we enable our customers to provide better data for better outcomes and how can we help them be more automated and efficient? We do this without the need to code (no code tools) and with the help of artificial intelligence,” emphasizes President & CTO, Joerg Guenther.

Exafluence’s expansive domain expertise coupled with the tech talent is what Joerg considers the secret sauce for the company’s affluent presence. Many of its associates have 20+ years of experience in delivering projects across financial services and the investment management life cycle.

The Leader’s Rise

Born and raised in Switzerland, Joerg accidentally landed in IT and in Financial Services. While he was pursuing his economics degree, he was offered a part-time job at Zuercher Kantonal Bank(ZKB) as a database developer. Having had no previous experience in IT, he negotiated a three-month period during which he could come up to speed. He was immediately hooked by the capabilities of developing software and solving real problems.

Joerg joined ZKB full-time and became a software developer and later was promoted to project manager and vice president. After 9 years with the company, he launched a startup with some of his co-workers and spent several years in IT consulting working for the big Swiss banks, the Swiss Funds Association but also Zurich Financial Services.

In 2001, Joerg moved to the US and joined KPMG Consulting as Manager of Financial Services and later Julius Baer in New York as Head of IT / CIO initially for wealth management and later on for asset management. In 2012, he joined Northern Trust in Chicago and headed up Hedge Fund Services Technology and Derivatives Technology. In 2016, he had the opportunity to relocate back to Europe (London) as Chief Technology Officer of EMEA and was also appointed Chief Information Officer for all Corporate & Institutional Services.

In 2019, Joerg switched to a similar role as global CIO Securities Services for Citigroup in London with a larger organization and a more global footprint(2’500 staff and consultants in 34 countries) . When COVID-19 hit a few months later,it made travel impossible and his integration and assimilation with the team and its culture very challenging.
“We made it work despite the lack of travel and despite the ability to meet people in person. It wouldn’t have been possible without the help of my team who supported me tremendously during that time. I never felt isolated,” he recalls.

. After a brief stint as a CTO for a German insurance service provider, he decided to pursue a very different kind of role with Exafluence starting in July this year.

In an Exciting Role

In his latest role at Exafluence, Joerg is entrusted to help grow the brand and especially expand the products and services across financial services. As he has a unique background combining 13 years of buy-side asset management experience with 11 years of service provider experience, he can add a different perspective to Exafluence’s target market.

“Solving problems for a buy-side asset manager or wealth manager is very different than solving problems for a service provider yet there are also common aspects we need to be aware of. First of all, understanding the domain and the perspective of the prospective client is of paramount importance. If I cannot put myself in the client’s shoes, I cannot solve the problem effectively and I cannot help make a difference. We do a lot of knowledge sharing and we pair young tech talent with experienced domain experts. This approach has been very rewarding for all parties involved,” explains Joerg.

This mindset is also shaping very much how he is focussing on product strategy and architecture. “Everything we do must have a purpose. Better data for better outcomes. What we build is aiming to help streamline the data lifecycle whilst providing tools that allow users to be much more efficient and automated in providing this data for their outcomes. That is really it in a nutshell,” he shares.

The People’s Leader

Joerg is a big believer in people and making people strong. So, believing in people’s abilities and delegating ownership is key to allowing staff to grow and also to stay motivated. It is the only way, he feels, to truly scale an organization but it is also extremely rewarding. He enjoys coaching and mentoring people and seeing them become stronger and more independent. Joerg tends to think about the big picture and communicate the vision and strategy so everyone can buy in but he equally enjoys getting his hands dirty and write some code

He has always been a big believer in understanding why we do things and what we solve for.  In order for a team to thrive it is critical to establish psychological safety. In other words, creating an environment where everyone has a voice and everyone can safely raise concerns and talk about mistakes without the fear of retribution.

“When we talk about D&I the I stands for inclusion and it means having a stake in the decision making and the future of the company. If these guard rails are put in place the results are absolutely amazing. I have built some relationships that have transcended a single job as connecting with people is more than just working together,” he asserts.

Allying with Technology

Technology, says Joerg, will continuously evolve, especially now that AI is growing quickly. The key is to stay hungry for change and to embrace it. “New technologies are not a threat but an opportunity. So, the willingness to learn continuously and to experiment with new things is a very important and differentiating quality,” he observes.

Exafluence encourages staff to use AI throughout their daily work and provides access to these tools. It encourages teams to learn and provide new ideas. The important thing is to apply the technology to real problems and provide real solutions. Otherwise, technology has no value.
“I have been very positively impressed by the speed at which new technologies are embraced. Our data scientists applied new LLMs within days and figured out what model configuration works best for particular use cases,” says Joerg.

AI, the Challenges and the Future

Joerg agrees that AI will have a massive impact on the industry. AI will disrupt how we work and many people will have to retrain in order to stay relevant. It will be challenging to keep up with the incredible pace of innovation. However, he is concerned about the socio-economic impact this all might have but he also sees it as a mandate to make AI accessible and available to all people.

Drawing parallel, he says, “It is a little bit like when the Internet started. For many people, it was not available. Over time we overcame that hurdle largely (There are still people that do not have access to this technology) also because smartphones became attainable. Now we face an even more differentiating innovation revolution. By using Open Source for our solutions and by providing our solutions in the Open Source space we want to allow everyone to adopt the technology. We will see how this evolves but ever the eternal optimist I am looking forward to the journey.”

Explaining the challenges, Joerg opines that successful AI needs comprehensive data models and clean and consistent data. Most companies do not have the data in the shape it needs to be. Many legacy applications and disparate data silos are preventing companies from being successful. They struggle to consolidate and integrate the data. In order to deliver a holistic comprehensive data model, domain expertise and knowledge are absolutely critical and many firms do not have enough of these skillsets. The model is needed to explain and organize the data properly. Lastly, many firms do not have the data integration and data mastering tools they need to efficiently produce the data in an automated fashion.

“If you try to run before you walk, AI will miserably fail and not produce the desired results. So, the homework has to be done and done right,” says Joerg.

This is where Exafluence comes in with its tools and solutions. It provides an investment data model that is technology-independent for clients that do not have such a model in place. It can naturally also work with existing models if they are available. Exafluence’s tools integrate and catalog the data, map the data into the target data models, and then acquire, validate, and transform the data in an automated, repeatable fashion. Without code, fully reusable.

Exafluence will deliver some disruptive solutions in the data and AI space and continue to push the envelope. The company’s cost model and how it works with its clients is changing the industry, The era of enterprise software is over. Companies want to be more flexible and not sign multi-year contracts that have them locked into an arrangement they cannot control.
“Our solutions empower companies to take ownership and deliver solutions much more quickly and efficiently without the foot in the bear trap. It is nice to work for a company that has a true sense of giving back. We make sure you have the data you need to successfully implement and deliver AI,” concludes Joerg.

 
In the hospitality industry, which keeps looking for new ways to entertain guests and offer a wholesome experience, a luxury lifestyle destination offers the ultimate in comfort, elegance, and exclusivity. It is a place where you can indulge in the finest gastronomy, relax in the most lavish wellness facilities, enjoy the most thrilling activities, and explore the most stunning scenery. A luxury lifestyle destination is not just a hotel or a resort, but a whole experience that caters to the guests’ every whim and desire.

Luxury lifestyle destinations are gaining popularity because they offer affluent consumers a way to escape from the stress and monotony of their everyday lives and enjoy a unique and memorable experience. Luxury lifestyle destinations are not just about comfort and elegance, but also about authenticity, wellness, and social responsibility. Some experts suggest that luxury travelers are looking for deeper and more meaningful connections with the places and people they visit, as well as full immersion in nature and true disconnection from the routine. Luxury travelers are also seeking positive changes in their lives and are expecting luxury brands to do better for the people and the planet. Luxury lifestyle destinations that cater to these needs and values are attracting more and more customers who are willing to pay a premium for a holistic and transformative journey. A popular name in this rising category is of Quinta do Lago, Portugal.

FINEST GOLF, LEISURE, AND LIFESTYLE RESORT

Nestled within the Algarve and the privacy and security of the Ria Formosa nature reserve Quinta do Lago is a clean and safe destination. The resort houses three world-class golf courses – including the €7 million upgraded South Course – which surrounds the award-winning real estate, sublime restaurants, a premier sports hub, a boutique hotel, and a golden sand beach. 

“For over 50 years, Quinta do Lago has been a leader in luxury, and can be described as an exclusive, modern lifestyle destination that is ideal for families, couples, and groups of friends of all ages. We encourage outdoor living and have an incredibly strong fitness and wellness offering across golf, tennis, cycling, birdwatching, and more – all designed with sustainability in mind. Our services include our award-winning golf courses and our multi-sports hub, The Campus which I mentioned earlier; these facilities allow guests to train and play at the highest standard, whilst also offering amateurs the welcoming atmosphere they need to take up a new sport and learn from high quality, experienced instructors. We also have 14 restaurants and bars all offering a new style of cuisine, our boutique hotel, The Magnolia Hotel, and a variety of exquisite rental properties. We also have a real estate arm and are launching some exciting new projects in 2024 including our final virgin plot development that follows significant demand and exciting, new opportunities for buyers.”

“We know our guests and our residents and have been delivering first-class service for over 50 years – combined with a laid-back feel that makes everyone feel at home,” says Sean Moriarty, CEO at Quinta do Lago

A Leader par Excellence

Sean began working when he was just 13 years old, working on a farm and cheese factory in County Tipperary, Ireland. This provided a very humbling start to his professional life, and he later moved into the food and hospitality industry where he worked for 20 years before moving to Quinta do Lago in 2016 as Chief Executive Officer. 

Having previously held senior positions with brands such as Quinnsworth, (now Tesco), Dairygold, and TOPAZ (Ireland’s biggest forecourt retailer – later acquired by Circle K), he played a leading part in these companies’ rebrands and development of their concepts. 

After working with such large companies and being successful in their development over the years, Sean decided it was time to venture further into the hospitality industry and he knew Quinta do Lago would be the perfect place to do this, as such a well-developed luxury destination, it was an easy decision. 

“Hospitality is a brilliant industry to be a part of, it’s fast-paced and people-centric but it’s one where you can really see the difference that every member of the team is making – and I can safely say that no two days are ever the same,” he says.

When Sean joined the Quinta do Lago team, his brief was to rejuvenate the resort and help transform its image from a traditional golfing resort to a sustainable, luxury lifestyle destination; a destination for all ages with a focus on culinary excellence and real estate developments in keeping with the master plan. A significant part of this regeneration was the opening of the multi-sports center, The Campus, in 2018. 

Since opening, The Campus has completely repositioned the resort’s lifestyle and reputation to Europe’s premier sporting destination for training, recovery, and rehabilitation. They now regularly host high-profile celebrity athletes and have welcomed over 1000 sporting professionals – whilst maintaining a welcoming and relaxed feel that embraces all sporting abilities. They also have 14 restaurants and bars that all have their own identity; from laid-back sports bar Dano’s to lakeside restaurant Casa do Lago, to the newly renovated Casa Velha serving traditional Portuguese cuisine, there is something for all their guests. The choice and high quality of these venues offer guests a unique dining experience.

Cruising the Pandemic

Being the CEO of a leading resort when the pandemic hit was not an easy task. Sean admits that it really was a terrible time for the travel and hospitality industry. Sean considers themselves to be lucky to recover quickly, and the Resort is continuing to adapt and embrace the post-pandemic way of living. Even throughout lockdowns and social distancing restrictions, Sean and his team ensured that they pivoted to make their model relevant – and looked after the staff and residents who remained on the resort. They also maximized the opportunity to invest in areas of the resort whilst it was quiet and renovated their seafood restaurant, Casa do Lago, the Clubhouse, and signature golf course, the South Course. 

“There are certainly positive takeaways – for example, there is still much more interest in spending time outdoors in nature, which is something our resort has always lent itself well to,” says Sean.

Leveraging Technology for Better Services

Quinta do Lago has always stayed at the top of its game when it comes to technology, whether that includes security or facility and restaurant booking systems. They have their own team, ‘Team 6 – Vigiquinta’, of highly trained technicians that provide state-of-the-art CCTV and alarms across the whole resort which means they have the very latest advancements at their fingertips as do the residents and guests. 

Sean shares that they are also about to launch a wallet solution for guests whilst they are on the resort, as well as create a new booking engine for the sports and golf facilities, integrating technology processes with the guest’s lifestyles. “Our golf courses also make use of technology to be more sustainable and we introduced a state-of-the-art irrigation system. The way technology has developed even in the past twelve months – with the advancements in artificial intelligence – show the importance of keeping up to date here and I’m a firm believer in utilizing it to drive innovation and improve guest experience,” he says.

Achieving the sustainability goals 
Sustainability is a big focus for Sean and the team at Quinta do Lago and something that is not traditionally easy for a large and well-established golfing resort like theirs. Over the past five years, they have been developing new initiatives to ensure they are working towards sustainability and managing their carbon footprint. 

Through the renovation of the resort’s South Golf Course and working closely with the GEO – Golf Environment Organisation, the resort has launched a multi-tiered strategy to foster nature, conserve resources, and support the community. As part of this initiative, Quinta do Lago has made vast eco-improvements including installing a state-of-the-art irrigation system, nurturing current nature trails, and cultivating their own farm-to-table offering working with head chefs and gardeners of the resort’s own Q Farm. They have also teamed up with the local Wildlife Research and Rehabilitation Centre (RIAS) to help repopulate native species and return rehabilitated animals to the wild – as well as protect its natural landscapes. 

“We are fortunate to be surrounded by the Ria Formosa Nature Reserve which is made up of 18,000 hectares of tidal marshes protected by a 60 km long system of sand-dune islands that separate the land from the ocean – and we recognize the importance of looking after it,” says Sean. 
 
Trends and Challenges in the Industry

Sean believes that over the next five years, the luxury resort industry will increasingly focus on sustainable luxury, personalized guest experiences, and technological integration. Quinta do Lago is at the forefront of these topics, continuously adopting eco-friendly practices and sustainable sourcing, as well as ensuring their culinary offering is of the highest standard and ahead of the curve, introducing new menus and hiring the most experienced, personable staff. They are also enhancing their offerings to provide more tailored services and unique activities, specifically designed to meet the individual preferences of the discerning guests. Additionally, Sean believes that embracing digital advancements will be crucial for enhanced convenience and guest engagement.
 
Sean points out that the greatest challenge in the luxury resort industry, especially after the pandemic, remains recruitment. The pandemic caused a notable shift, with a significant number of professionals exiting the hospitality sector. The imperative now lies in attracting and retaining skilled talent, and ensuring they are trained to a standard Quinta do Lago requires. To meet this challenge, he suggests, it’s crucial to offer unique benefits within a trustworthy and supportive company environment. Quinta do Lago, for instance, provides the staff with comprehensive support that goes beyond conventional perks. This commitment includes access to an in-house doctor and flexible work schedules to support family life. “Additionally, we are collaborating with local authorities to develop housing and transportation solutions. Our goal is to demonstrate our care for our staff, emphasizing that Quinta do Lago is more than just a workplace – it’s a close-knit family,” he says.

Racing Ahead
At Quinta do Lago, Sean and his core team place a strong emphasis on continuous employee training and development to ensure that they are well-versed with the latest trends and skills in hospitality. Embracing technological advancements is also a key focus, as they integrate state-of-the-art digital tools to enhance the guest experience. Additionally, their commitment to active networking and industry collaboration helps them stay connected with their peers, fostering a culture of idea exchange and innovation.
Sean suggests that there are some really big projects in the pipeline for the next few years – including a brand new five-star touristic development that they are hoping to launch. Plans are in the works and the development should include residences, apartments, and villas – offer the very top end of luxury. In terms of the team, they are continuing to grow and launch new leadership schemes and task forces that encourage everyone to develop professionally.

“As mentioned, we are planning to invest more into our sustainability initiatives and continue our renovation program across all aspects of the resorts. This year we are also renovating our restaurant KOKO – a family favorite amongst guests and we will start to roast our own coffee – offering a complete experience to everyone,” concludes Sean.

Quote: “Continuous improvement is endless.” 

Quote: The perfect backdrop for you to enjoy a rich and fulfilling life, in this unique destination, you are invited to live a life full of possibilities amongst the beauty of Portugal’s southern coast.

Quote: I have an open-door policy and I favour a very flat structure which means I am involved from the top right through to the bottom; this encourages speed and clarity within the network, enables people to speak up and illuminates waste in communication.

Quote: I encourage all team members to think big and be ambitious. We’re big into communication, we’re big into involvement, we’re massively into empowerment.

Syncron stands at the forefront of the service economy, offering innovative cloud-based solutions that empower manufacturers to enhance service delivery and customer loyalty. With a global presence and a team dedicated to simplifying complex challenges, Syncron helps leading manufacturers & distributors identify efficiencies and create new revenue streams. Our Connected Service Experience (CSX) AI cloud platform optimizes aftermarket and aftersales profitability, increases customer loyalty, and enables our customers to transition to service-centric business models. We enable more than $3 billion in annual value creation across automotive, construction, mining, agriculture and industrial equipment, medical devices, consumer durables, high tech and aerospace.

“At its core, Syncron is driven by a mission to make the world a better-serviced place, fostering continuous growth, mutual respect, and a culture of innovation known as Orangenuity,” says Mauro Paretti, Global Head of Field Marketing and Demand Generation at Syncron.
Syncron specializes in assisting leading manufacturers and distributors in identifying operational efficiencies and cultivating new revenue streams. Through its Connected Service Experience (CSX) AI cloud platform, it optimizes aftermarket and aftersales profitability while bolstering customer loyalty. This empowers Syncron’s clients to transition towards service-centric business models, fostering sustainable growth and profitability. Operating across diverse sectors including automotive, construction, mining, agriculture, industrial equipment, medical devices, consumer durables, high tech, and aerospace, Syncron facilitates over $3 billion in annual value creation. “Our unique approach lies in the integration of cutting-edge technologies such as AI and machine learning into our solutions. We maintain our distinctiveness by prioritizing customer-centric innovation, continually enhancing our thought leadership, and remaining steadfast in our commitment to delivering unparalleled service excellence,” says Mauro.
The Professional Journey
Throughout his professional journey, Mauro has had the privilege of contributing to renowned corporations like HP, Computer Associates, and GE Digital, as well as dynamic mid-size companies such as ServiceMax, Plume Design, and currently, Syncron. His focus has consistently been on marketing, operating predominantly at the international level. 
Mauro’s motivation for pursuing a career in marketing stems from recognizing its pivotal role within organizations. Marketing not only collaborates extensively across various departments but also wields a significant influence on company strategy. What truly resonates with him is the blend of strategic planning and hands-on execution, allowing for genuine interactions with customers and prospects. 
“I’ve always been drawn to global or region-wide roles, cherishing the opportunity to collaborate with diverse teams worldwide and indulging in the enriching experience of travel. This global perspective fuels my passion for marketing, driving me to continually seek innovative approaches to address the ever-evolving needs of our global audience,” he says.

Leading with an Innovative Approach
As the Global Head of Field Marketing and Demand Generation at Syncron, Mauro’s primary responsibility is to drive pipeline generation initiatives worldwide, encompassing the entire spectrum from crafting marketing strategies to their execution and subsequent reporting. Upon assuming this role, he recognized the need to streamline and unify their marketing efforts, which were previously fragmented. To achieve this, he delved deep into understanding the business strategy to align the marketing activities effectively.
One of the innovative approaches Mauro introduced was the implementation of exclusive executive dinners or lunches. These intimate gatherings not only facilitated stronger relationships with our customers and prospects but also served as a platform to swiftly launch targeted digital marketing campaigns. While seemingly conventional in other contexts, these initiatives represented a significant leap forward for Syncron, amplifying our brand presence and engagement within our target audience.
Another approach was when, from a digital marketing perspective they tried to change their approach to engage more with people, developing tools that can the audience can use to understand Syncron’s value and trying to reshape the message in different format like infographics, video driven by AI, and shorter documentation to make sure to address everyone’s way to digest content.
Mauro’s working style is characterized by dynamism, flexibility, humility, and a strong focus on objectives. As a manager, he provides his team with clear objectives while granting them the autonomy to achieve them. He thrives on collaboration and draws inspiration from his team, aiming to reciprocate that inspiration. Mauro believes in empowering his team rather than micromanaging them, fostering an environment where they can flourish. This involves eliminating obstacles, fostering cross-departmental connections, and ensuring they grasp the bigger picture. 
“In driving growth within a B2B setting, I prioritize alignment with the sales team. When marketing and sales share common goals and target accounts, it significantly drives business growth. To foster innovation, I advocate for a culture of experimentation and learning from failures. Embracing curiosity and trying new approaches, even if they result in setbacks, is crucial for driving innovation. Additionally, I encourage continuous learning and skill development within my team to keep them engaged and innovative,” says Mauro.

Overcoming Challenges
The most significant challenge Mauro encountered in his career was assuming the role of Head of Marketing at an Italian-based company. Unfortunately, it became evident that there was a cultural mismatch, both for him and the company. Transitioning from an international environment to one deeply rooted in Italian culture presented communication hurdles and resistance to new ideas, particularly when reporting directly to a CEO who was not receptive to change. 
Navigating this landscape, managing expectations, and fostering alignment proved immensely challenging. Mauro had to confront the possibility that perhaps he wasn’t fully prepared for the role. However, this experience underscored the importance of evaluating changes thoroughly, considering both the benefits and drawbacks. “Ultimately, the experience taught me valuable lessons about adaptability and self-awareness. While change can offer growth opportunities, it’s crucial to assess the cultural fit and align expectations accordingly. Subsequently, being re-hired by my previous company reaffirmed the significance of context in fostering personal and professional development,” he says.
A Global Outlook
Creating a global marketing strategy that resonates with diverse audiences across different regions hinges on a deep understanding of the target audience. Mauro opines that it’s imperative to identify their specific pain points, business objectives, and operational context. Without this clarity, even the most well-crafted marketing campaign may miss the mark. Tailoring messaging to address the unique needs of each audience segment is paramount. “We must articulate why our solutions are the right fit for their challenges and align with their goals,” he says.
This approach rejects the notion of a one-size-fits-all strategy, particularly in the context of SaaS companies operating across multiple countries. While some needs may overlap, environmental, governmental, and social factors can significantly influence market dynamics. Recognizing and adapting to these nuances is essential for crafting successful marketing campaigns that resonate across diverse regions.
Eye on the Trends
Mauro feels that in the next five years, several key trends will shape the landscape of the marketing industry:

1. The Digitalization Imperative: Organizations are increasingly recognizing the necessity of digitalization across service processes, pricing, and execution. Servitization is evolving from a competitive differentiator to a fundamental requirement to meet customer expectations.
2. AI’s Role in Monetizing Service Contracts: Efforts to monetize service contracts are gaining prominence, with AI emerging as a solution to improve transparency into service contract profitability and enhance overall profitability throughout the product lifecycle.
3. The Shift to Value-Based Pricing in Service Contracts: There’s a notable shift from cost-based to value-based pricing in service businesses, particularly in areas like parts pricing. Technology will simplify complex data, facilitating the adoption of value-based pricing strategies.
4. Building Loyalty through Customer-centric Approaches: Loyalty, from end customers to dealers and back to OEMs and service businesses, is becoming increasingly critical. Service level execution is a board-level discussion topic due to its profound impact on loyalty.
   To prepare Syncron for these trends, Mauro and his team are prioritizing strategic initiatives:
   •Incremental Digitalization: Recognizing that digitalization is not an “all or nothing” proposition, we are adopting a phased approach to modernize their processes incrementally.
   •Leveraging AI for Profitability: They are investing in AI to enhance transparency into service contract profitability and optimize profitability across the product lifecycle.
   •Embracing Value-Based Pricing: They are transitioning towards value-based pricing strategies, leveraging technology to simplify complex data and ensure a holistic approach to pricing.
   •Fostering Customer Loyalty: Customer-centricity is at the forefront of their strategy, with a focus on building loyalty through enhanced service level execution and fostering strong relationships with dealers.
   “By proactively addressing these emerging trends, we aim to position our organization for sustained success in the evolving marketplace,” asserts Mauro.
   Preparing for Continuous Growth
   To stay abreast of industry changes and meet the demands of the modern consumer, Syncron prioritizes several key strategies. Firstly, it places a strong emphasis on listening to its customers and the market, actively seeking feedback and insights to understand their evolving challenges and objectives. Additionally, the team adapts to the complexities of the modern buying cycle by tailoring its messaging and approach to different personas within the buying committee, ensuring a personalized and relevant experience for each stakeholder. Furthermore, the company recognizes the importance of offering diverse content formats to cater to varying preferences and consumption habits. This involves creating multi-touch campaigns that deliver consistent messaging across different channels and formats. 
   “In terms of preparing for continuous growth, we believe that innovation and analytics are paramount. Analytics enables us to gain insights into past performance and anticipate future trends, while innovation allows us to differentiate ourselves in the market and remain competitive. By focusing on these core principles, we strive to maintain a trajectory of continuous growth and success in the ever-evolving business landscape,” shares Mauro.
   Planning Ahead
   As we look ahead to the next few years, Mauro anticipates several key contributions from himself and his team:
   Innovation and Adaptability: Mauro expects himself and his team to continuously innovate and adapt to changing market dynamics. This includes staying abreast of emerging trends, exploring new technologies, and pioneering creative solutions to address evolving customer needs.
   Strategic Vision: He relies on his strategic vision to guide the organization through periods of growth and transformation. He will provide insightful leadership, setting clear goals and priorities that align with Syncron’s long-term objectives.
   Customer-Centricity: Customer satisfaction is paramount to Syncron’s success. Mauro expects himself and his team to maintain a customer-centric approach in all endeavors, prioritizing customer needs and delivering exceptional experiences at every touchpoint.
   Collaboration and Teamwork: Collaboration is essential for driving results in a complex and dynamic environment. He will foster a culture of teamwork and collaboration within his team and across departments, leveraging diverse perspectives and skill sets to achieve common goals.
   Continuous Learning and Development: The industry landscape is constantly evolving, and ongoing learning and development are essential for staying ahead of the curve. Mauro expects himself to invest in the growth and development of his team, providing opportunities for learning, skill-building, and career advancement.
   “By embodying these expectations and leading my team with passion, dedication, and integrity, I am confident that I will play a pivotal role in shaping our future success,” he says.
   Advice for Aspiring Entrepreneurs
   Mauro shares the following advice to aspiring entrepreneurs or young individuals embarking on their careers:
   ·Embrace Failure and Take Risks: Failure is not a setback but rather a stepping stone to growth. Take risks, try new ideas, and don’t be afraid to fail. Each failure is an opportunity to learn and become stronger.
   ·Set Clear Objectives: Define your goals and objectives clearly. While your path may deviate at times, having a clear vision of where you’re headed will help you stay focused and motivated.
   ·Cultivate Curiosity and Keep Learning: Stay curious and never stop learning. Curiosity fuels innovation and opens doors to new opportunities. Continuously seek out new knowledge, connect with diverse people, and explore different perspectives. This constant pursuit of learning will enrich your journey and broaden your horizons.
   “By embracing failure, setting clear objectives, and nurturing curiosity, aspiring entrepreneurs can navigate the challenges of entrepreneurship with resilience, determination, and a thirst for growth,” he concludes.
   A Quote that Resonates:
   “Success is not final, failure is not fatal: It is the courage to continue that counts.” – Winston Churchill. This quote encapsulates the resilience needed to navigate the ups and downs of entrepreneurship, emphasizing the importance of perseverance in the face of challenges. It communicates the idea that setbacks are not the end of the road but rather opportunities for growth and progress.
   Quote: “Syncron helps clients embrace servitization and embed service into their equipment lifecycles to turn complex challenges into competitive differentiators.”
   Quote: “We empower leading manufacturers to capitalize on the new service economy, working every day to make the world a better-serviced place.”

Ioannis Michos is an acclaimed thought leader in the industry, named as the Top FS Leader globally for 2023 by “the Consulting Report”, and throughout his career, he has been involved and led some of the most iconic initiatives in the Financial Services and Insurance sectors. Currently, he serves as a Managing Partner in TCS, where he heads up the Financial Services and Insurance Consulting Practice in EMEA. He is at his best when designing, directing, and managing teams that challenge the status quo and influence large-scale change in the world of business. Name few of the industry’s biggest success stories and you’re very likely to find Ioannis’ footprints. 

As a true value creator, Ioannis is well known in the industry for his deep knowledge of different markets and practices across the globe, as well as his high degree of business, political, and commercial acumen. Adding to the above his deep expertise in building, motivating, and retaining competent teams, and it shouldn’t come as a surprise that his name has become a synonym of success in his field.
Prior to joining TCS, Ioannis served in multiple senior executive positions both in the consulting and in the industry, in organizations like Willis Towers Watson, PwC, Grant Thornton, and Achmea Group to name a few. He holds a Master’s in Management, and a Bachelor’s in Economics, he is an INSEAD alumnus, a Chartered Accountant (FCCA), a CFA Charter holder, an AWS Cloud Practitioner, and Prince2 qualified.

A Career of Choice

Ioannis always wanted to run businesses, share (in many cases create) best market practices, and advise senior executives about how they can improve their firms. And from the positions he had over the years, this is exactly what he has been doing. Even after almost 2 decades now, he does it with the same passion as day 1. Across geographies, across industries, and across topics such as strategy, operations, finance, risk, and technology – just to name a few. This multifaceted nature of his role is what he enjoys the most and what keeps him motivated. 

In his current role as a Managing Partner in TCS Ioannis works closely with a number of FS and Insurance clients across EMEA to help them optimize their strategies and operations, improve their profitability, achieve quantifiable operational and financial efficiencies, and reduce their cost base. Also, as expected from someone at his level, he is responsible for the pipeline, the go-to-market strategy, the P&L, and all the strategic, operational, and financial aspects of this part of the business.
And what makes the work even more interesting is the work environment at TCS. 

“The reason why I decided to join TCS in the first place is because of the unparalleled technological capabilities and advancements that it can offer to its clients combined with its deep domain knowledge. Not in theory, but in a very practical way; something I didn’t have in my previous firms. And, according to my personal view, the latter is one of the biggest key competitive advantages that TCS has. Yes, I do enjoy being at the forefront of every revolutionary change in my industry globally, but always in a way that can actually help my clients; I don’t like revolutionizing just for the sake of it,” says Ioannis.

An Optimistic and Approachable Leader

Ioannis does not believe in hierarchies. He feels that hierarchical structures eventually lead to unnecessary inefficiencies and bottlenecks that unavoidably  affect peoples’ productivity, effectiveness, efficiency, and – ultimately – their morale. “Throughout my career, I have always tried to be very approachable, open to everyone (regardless of their seniority), and lead by example. Trust me when I say that no one will get inspired and follow a leader if this leader does not live by his / her beliefs. At least not in the long run,” he says.

An inherently optimistic person, Ioannis is always trying to see the bright side of things. His personal philosophy is that nothing is impossible and that we should always aim high, regardless of the hardships. Not a fan of excuses, Ioannis has always believed that excuses are there, only to hold us back. Trying to find justifications about why we failed in something is undeniably in human nature. However, he does not think it is constructive. 

“It is much better to say that I failed because of XYZ so next time you solve the problem in a different way that addresses / takes into account the XYZ, than find all the excuses in the world so we can go easy on ourselves and get us “off the hook”. I do appreciate that the latter comes much more naturally, but the former is what helps us become better! Personal development and self-improvement is a never-ending journey, but the sooner we embark on it the better it will be for our professional and personal lives,” he explains.

Problem-solving and Strategic Planning 

What truly matters to Ioannis is his clients. He always puts them at the center of everything he does. But he never forgets that this is the case with his clients too. Their clients are their most valuable asset. This is exactly the reason why it is very important in every problem-solving and strategic planning exercise to reverse engineer and carefully consider the impact that a decision will have on clients. 
“This is my approach and one of the key strategic advices I give to the CxOs of the Firms I work with. Always consider your clients; they are the end buyers of your services / products and the ones who ultimately determine how successful – or not – an organization is. Everything you do should aim to have a positive impact on them,” he explains.

Pointers that Drive Growth

Diversification and strong knowledge of the market are the two factors Ioannis believes drive growth. “Diversification when it comes to services, offerings, market propositions, solutions, and accelerators so we can cover fully the breadth and depth of the demand we are creating. And strong knowledge of the market because understanding the true needs of the clients, their agendas, their pain points, and in many cases also helping CxOs to actually identify the aforementioned based on where the market is moving and what their peers are doing, should bea critical success factor for any business,” he shares.
The combination of these two is the recipe for success. But a recipe without a strong brigade is just words on paper. And this is why he cannot stress enough how important it is to have the right team. “As we used to say, if you want to go fast go by yourself but if you want to go far, go with your team,” he states.
Challenging Projects 

Challenges have been the very nature of his work for two decades now. Challenging the status quo and helping CxOs achieve extraordinary results is what Ioannis excels at. One way or another, he has been involved in some of the most challenging programs in the world. Some had to do with redesigning from scratch and transforming end-to-end clients’ core operations so measurable efficiencies, improved profitability, and better bottom lines could be achieved. Some others had to do with designing and optimizing divisional and group-level strategies and business plans. Some involved material technology and/or outsourcing interventions across clients’ value chains with the aim of achieving significant cost cuttings and/or better valuations. 

Despite the uniqueness of each program he has run over the years, there is one common denominator in all of them (one can call this a “lesson learned”). And this is that every single program in the world, regardless of the industry, the complexity, or the region, is doomed to eventually fail if the people in the business are not onboard! 

“The people who are working in the business need to understand why something is happening, how it may influence their day-to-day jobs, what they will get out of it, and why they should support it. At the end of the day, they will be the ones who will live with its outcomes at the Business As Usual phase,” he explains.

Emerging Trends in Financial Services 

The biggest trend Ioannis sees at the moment is Artificial Intelligence (more specifically Generative Artificial Intelligence) and its practical applications – and implications – that it can have on existing business models.
“Last week, I was reading a comprehensive study which involved approximately 1,300 senior executives from 24 countries in Asia, Latin America, Europe, and North America (more than half with revenue over USD 5 billion), that proved – actually emphasized – exactly that. More than half of the respondents believed that AI will be greater than (or equal to) the Internet (!) and that they are excited about its potential impact on their business,” he points out.

“Also, a stunning 60% believed that the impact of AI will be greater than (or equal to) smartphones! Let me repeat that. Greater than smartphones! As you (and hopefully our readers) can understand, this megatrend has the potential to truly transform the Financial Services and Insurance sectors as we know them,” he adds.

Envisioning the Future

Ioannis vision for the future is to expand his reach in less “popular” regions and businesses, and to also continue to deliver unparalleled value to his clients by revolutionizing their current ways of working with practical and well-tested interventions. The reason for that is because despite all the transformations the industry has undergone over the past decade or so, the truth is that there are still significant quantifiable efficiencies to be explored and “unlocked” in the ways the vast majority of Firms globally are conducting their business. 
“Efficiencies that have the potential to skyrocket their profitability, their bottom lines, and their valuations. Efficiencies that no one may have been able to realize a few years back due to technological (and perceptual) constraints. This is what experience is showing us. Not in theory, but in practice since I am seeing this actually happening day after day,” he shares.

Words of Experience

To the aspiring executives, here is what Ioannis has to say in the concluding lines:
“I would give them exactly the same advice my mentor gave me 20-plus years ago (this is what I have drawn to my daughter’s room when she was born by the way). Always have a clear target (a dream if you wish) and then strive to “fly” above it! Never, NEVER stop until you reach it. And then, set up your next target, and then the one after. And so on… We all need to redefine ourselves in the process of course, but this is the beauty of it! Throughout my career, I have seen many great minds with huge potential fail, because they were not persistent enough! They quit after the first or the second “fall”. We should never forget that it really doesn’t matter how many times we “fall”, but how many times we get back on our feet. As long as the latter is greater than the former, success will eventually come.”