Author: CIO Times

The FinTech Association of Hong Kong (FTAHK) is a not-for-profit organization that operates independently with a strong emphasis on transparency, accountability, and governance. A highly connected and successful group of volunteer board members and committee co-chairs advocate for the role of FinTech in Hong Kong and the Greater Bay Area (GBA) but as well across Asia with other like-minded associations. Neil Tan has been involved with FTAHK for several years and co-headed its WealthTech Committee. In the summer of 2022, he was elected to the Board of Directors and appointed as Chairman.

In its six years of existence, the FTAHK, arguably Asia’s most impactful of its kind, is a fully independent, member-funded industry association that focuses its activities around (i) Advocacy (ii) Collaboration & Connectivity and (iii) Education. Its 1,000+ members comprising of individuals and corporate entities come from all walks of the fintech life, from various segments, backgrounds and sizes.

“We are particularly proud of the network effects that we create as well as our strong standing with regulators and government bodies that listen to ‘the Voice of the FinTech Ecosystem’ that we holistically represent in numerous public and private consultations thus enabling our members to shape the framework of a thriving FinTech Ecosystem,” says Neil.

Improvising Always

Neil has over two decades of experience in Corporate Strategy, Mergers & Acquisitions, Business Development, and Partnerships – across Banking (HSBC, Deutsche Bank), Management Consulting (BCG) and Industry (Philips Electronics, Siemens). 

 Today, Neil is the Managing Partner at Tsunami Advisors, a consulting firm that specializes in supporting the growth and scaling of FinTech and Web3 companies in the Asia Pacific Region. He has extensive experience in the industry, having previously served as the CEO of Neptune Digital, an award-winning blockchain startup that was incubated under the Cyberport Incubation Program (CIP). Prior to this, he was the Head of Business Development for the Digital Partnerships & Innovation Team at HSBC in the Asia Pacific, where he focused on Banking-As-A-Service (BaaS) and Embedded Finance.

Prior to being the Chairman, Neil began his journey within the FinTech Association of Hong Kong a few years ago. Starting off as a member that regularly attended the FTAHK’s events, he wanted to increase his engagement and was subsequently elected as a Co-Chair of the FTAHK WealthTech Committee. As Co-Chair, Neil covered various topics from Asset Management and Robo Advisors to Cryptocurrencies, Digital Assets (NFT) and the Metaverse.

Since he began chairing the new board, along with the core board members, he has:

• Reshaped the committees to even further align with the Regulators’ FinTech 2025 agenda, especially fostering their GreenTech & ESG activities
•  Increased Web3 and Metaverse topics across their spectrum and powered a dedicated Web3 & Blockchain committee in existence  as Hong Kong is enroute to establishing itself as a global virtual asset hub. 
• Introduced FinTech Master Classes that target audiences who wants to learn about Fintech in HK and the Greater Bay Area
• Ensured that the FTAHK partook in various public and private consultations with regulators and government bodies especially but not limited in the Virtual Asset space.
• Coming out of the Covid-19 pandemic, reinvigorated FTAHK’s connectivity with other global FinTech communities in FinTech hubs through Mission Trips targeting such destinations as Shenzhen, Singapore, the UAE and the United Kingdom.

A Collaborative Leader

Neil is a people person and enjoys interacting with FTAHK Members either at large events or small occasions (i.e. coffee, lunch, etc.). He likes to get to know them on a personal level and also hear about any business problems they are encountering in order to see if there is a way FTAHK can help them personally or professionally. This direct interaction helps him understand the problems from a first-hand account. Once identifying the problems, suggestions can be easily formulated and the best solutions arrive at with consensus. 

Neil is always about delivering value to members. The majority of members of any association are looking to connect and do business with other members. He encourages the FTAHK Leadership Team (consisting of the Board, Committee Co-Chairs, and Executive Team) to listen to the feedback of members and to constantly as well as consistently deliver value to them. This is usually in terms of collaboration and connectivity, hence the tagline #SuperConnector.

“Be a “Play Maker” not a “Title Taker” – in NGO space there are often times when people take positions for the title to build their resumes. I am proud of the FTAHK Leadership Team (consisting of the Board, Committee Co-Chairs, and Executive Team) as they take a very active role and their position seriously. They all make contributions within their areas of responsibility to ensure the best for the association,” says Neil.

Powered by Innovation

Innovation is innate to FinTech and therefore plays a crucial role for FTAHK in several ways:

• Showcasing and educating about the adoption of new technologies through its events such as panels, fireside chats, webinars and workshops amongst the members and invited guest speakers.
• Encouraging collaboration and partnerships be it with other associations (local and abroad), local universities to exchange ideas and foster talent that can spur innovative new products and services.
• Advocating for regulatory changes with policymakers and regulators that can help create an environment that fosters innovation and supports the growth of the industry.

“Nothing can really hold back the FinTech Industry in a world where Technology and Financial Services continue to collaborate, compete or merge. Especially in an evolving and buzzing Financial Hub like Hong Kong you can feel the innovative and business-oriented vibe on a daily basis and we are privileged to play our part to help shape and foster the FinTech Ecosystem,” says Neil.

Supporting Diversity 

Representing a comparatively ‘new industry segment’, it has come naturally to the leadership at FTAHK to embrace diversity and inclusion from the get-go, both in terms of their mandate, their board and leadership team representation as well as in the events. For example, they have been very adamant about holding themselves accountable to their Gender Pledge, which is to ensure female representation on panel events, and they expect similar adherence from the stakeholders that they support.  The association’s commitment to diversity has received a significant boost with the results of its latest Annual General Meeting (AGM). The meeting saw the election of new board directors, resulting in a majority female board. This marks another major milestone for the company’s diversity pledge. “We can confidently say that we are setting the standard amongst the industry associations in Hong Kong,” shares Neil.

Miles to Go

In the next few years, FTAHK aims to achieve the following goals:

Advocacy: They will continue to advocate for policies and regulations that support the growth and development of the fintech industry in Hong Kong, working closely with government agencies, regulators, and other stakeholders to ensure a favourable environment for fintech innovation. 

Collaboration: They will grow the level of collaboration among the members and other industry players, and encourage the sharing of best practices, knowledge, and resources to drive innovation and growth. 

Education: They aim to provide masterclasses to help the members and the wider community stay up to date with the latest fintech trends and technologies, and to foster a culture of continuous learning and development. 

Globalization: They will work towards promoting Hong Kong as a leading fintech hub in the region, building strong partnerships with other fintech associations and industry players from around the world, and exploring opportunities for international expansion. 

Thought Leadership: They aim to strengthen their position as thought leaders in the local fintech industry, contributing to the development of new ideas and solutions, and driving the conversation around the future of finance in Hong Kong.

Overall, the team is committed to promoting the growth and development of the fintech ecosystem in Hong Kong, and to ensuring that its members and the wider community are well-equipped to thrive in this rapidly evolving industry.

“We are not award seekers, our ‘rewards’ comes through our strong brand recognition, our outstanding reputation and standing in the market and the high satisfaction levels of our members. We can’t ask for more and are motivated to keep going from strength to strength. We want to remain home to and the go-to industry association of choice for all FinTechs in HK and even the Greater Bay Area (GBA). Equally, we will continue our role as reliable advisors to policymakers and regulators to shape a framework that fosters a safe and thriving FinTech Ecosystem,” concludes Neil.

Advise to budding entrepreneurs:

In the world of FinTech specifically, there is also great value in a quote from John Maxwell that goes “Fail early, fail often, but always fail forward.” It is very practical in the agile and fast-paced FinTech landscape that is constantly evolving. Also, as cliché as the saying goes, it would be to do what you love. There’s little point in going into business simply to go into business.

Quote: “Help People that Help You”

A cybersecurity and hacking enthusiast with over 10 years of experience in the field, Jasmin Landry has come a long way from being a young bug bounty hunter to Senior Director, Information Security, at Nasdaq. 

A Bountiful Career

Getting into IT and security wasn’t the first thing on Jasmin’s mind. He wasn’t really passionate about computers when he was younger. He had started school in accounting, and after a year, he realized it wasn’t for him. He took a year off school to try and think of what he wanted to do. Back then, there was a lot on the news about the famous hacking group Anonymous. Jasmin was curious about how they did that, and he ended up developing an interest in everything computer-related but he still wasn’t sure he wanted to do that as a job. One day, on his way to work, Jasmin saw an advertisement for a school that had a new computer science program. He looked it up online and decided he was going to give it a shot. “It turns out it was one of the best decisions I took in my life since I developed a passion for cybersecurity and I’m now getting paid to do a job that I love,” says Jasmin in hindsight. 

Jasmin started off his career in IT as a Systems Administrator. He always had an interest in cybersecurity, so he started to do certifications like OSCP, CEH, etc., with hopes of landing a job in that space. It eventually happened and he got a job as a Jr. Security Analyst. He was doing Penetration Testing and AppSec-related work and at approximately the same time, he also started doing bug bounty in his free time as a hobby. He feels it actually helped him excel at work as he quickly saw a huge increase skills-wise, and was finding a lot of vulnerabilities during his assessments which resulted in a few promotions. 

After a few years of working at the same company, he ended up doing consultancy work and bug bounty full-time for a few months. Doing bug bounty had become his passion. However, when he decided to do that full-time, Jasmin realized he wasn’t made for doing that as a job. He was stressed and exhausted. It was a challenge for him to give it up full-time and keep doing it as a hobby in his free time and make sure he was mentally and physically healthy to spend more time with his family. 

Jasmin moved on to join Metrio as the Head of IT & Security. He built up their security program and then a year later they got acquired by Nasdaq and his work with Nasdaq continues as a Senior Director, Information Security!

Jasmin has participated in several live hacking events around the world winning trophies such as the Best Bug as well as the Most Critical Findings. He has also been a speaker at several infosec conferences.

The Pioneering Company

Nasdaq has always been a disruptor in the financial world. Positioned at the nexus of technology and the capital markets, Nasdaq provides premier platforms and services for global capital markets and beyond with unmatched technology, insights, and market expertise.

The Company created the first electronic exchange and innovative indexes and provides cutting-edge technology to over 130 markets globally. Nasdaq’s vision is to transform the future for the better. They empower economies, promote equal opportunities, and support environmental sustainability through their daily work. Nasdaq helps communities, clients, employees, and people from diverse backgrounds to achieve their full potential. As a technology company, they are focused on embracing the unknown, exploring the amazing, and shaping a future that benefits everyone.

An Exemplary Leader

As a Senior Director of Information Security at Nasdaq, Jasmin gets to work with a lot of different teams, such as marketing, sales, development, and of course, other infosec teams as well. His team’s role is to ensure Nasdaq’s products are as secure as possible to prevent security breaches.

Jasmin likes to lead by example! He likes to be hands-on with his team and still do technical work even though his role is more of managerial. He tries to use his experience, skills, and knowledge in infosec and cybersecurity to advance his team and bring them to the next level. “I’m all about constant learning so I try and teach as much as possible so my team can grow, and each attain their individual and professional goals,” he says.

Jasmin mainly uses social networks such as X and LinkedIn to stay up to date with changes that are happening in the industry. He also schedules some time on his calendar every week to read up on what’s happening in the world in infosec and cybersecurity. It allows him to better prepare for upcoming changes, develop expertise in new areas, and so forth.

Upbeat about the Future

Before speaking about the future, we asked if there was something Jasmin would like to change anything in the past. To which he says “I wouldn’t necessarily change anything in my career as I’m happy with how it went so far and how it’s going now.” However, he shares how he started school in programming and after the first semester, he switched to a different program which was more IT and networking-related. He didn’t really like programming and wasn’t too good at it. But after a dozen years in the industry, he feels knowing how to code would’ve greatly helped him automate certain tasks to be more efficient. He still learned throughout the years, but he does need to Google it or ask ChatGPT for certain things, as it’s not natural for him.

Coming to the future, Jasmin is upbeat about AI and its prospects. He feels AI will have a significant impact not only on the industry that he works in but on a lot of other industries as well. “We’ve already seen a lot of changes and improvements on that end in the last couple of years or so, and I only expect it’ll improve a lot more 5 years from now,” he says.

Jasmin concludes our interaction with a message for the young tech enthusiasts saying, “Follow your goals and dreams, and don’t be afraid to make mistakes. Mistakes happen, and you’ll continue making some. You need to accept it and learn from it, and you’ll grow both personally and professionally.”

Quote: “Never give up. When we set objectives, we have to work for it. No matter how hard or how long it’ll take, don’t give up. Once you achieve your goal, you’ll be extremely happy and proud of yourself!”

After completing his master’s degree in technology Mr. Vijay Chaudhary took on roles that would align with his deep interest in the world of computer and information technology. His professional experience provided him with a solid foundation in Information systems, database management, and network administration. He gained hands-on experience with various IT systems, honing his problem-solving skills and learning the intricacies of client engagement.

With time and experience, Vijay gradually moved into management positions within IT and Infosec. Starting as an IT project manager, he successfully led complex projects on time and within budget. He soon pursued certifications in ISO Lead Auditor in 27001:2013, ISO 27001:2022, ISO 27701:2019, and CISO certifications in technology management. This helped him develop a well-rounded skill set that combined technical knowledge with business acumen, a crucial asset for aspiring CIOs.

He soon transitioned into roles that saw him oversee the entire IT-Infosec department, manage budgets, and initiate strategic IT-Infosec initiatives, showcasing his ability to align technology with business goals. Soon he was appointed as the VP – Infosec & Compliance/CIO. In this role, Vijay is responsible for the overall IT- Infosec strategy, ensuring that technology investments drive innovation and growth while maintaining a strong focus on data security and compliance.

Aligning Technology with Business Needs 

Achieving this balance requires a strategic and collaborative approach. Some key strategies that Vijay employs are: 

1. Establish a Strong IT Governance Framework: – Implement a governance framework that includes IT steering committees, regular strategic planning sessions, and project portfolio management. This ensures that IT decisions align with the broader business strategy.

2. Engage with Business Units: – Actively engage with leaders from various business units to understand their goals and challenges. 

3. Prioritize IT Projects: – Prioritize IT initiatives based on their alignment with the company’s strategic goals, expected ROI, and potential impact on the business. Use a structured process for project selection and resource allocation.

4. ROI Analysis: – Conduct a thorough return on investment (ROI) analysis for IT projects to demonstrate their value to the organization. Assess not only financial returns but also non-financial benefits, such as improved efficiency and customer satisfaction.

5. Regular Reporting and KPIs: – Establish key performance indicators (KPIs) and reporting mechanisms to track the progress and impact of IT initiatives. Share this information with executive leadership and stakeholders regularly.

6. Risk Management: – Consider the potential risks associated with IT initiatives and develop mitigation strategies. This helps ensure that technology projects do not jeopardize business operations.

7. Continuous Review and Feedback: – Continuously review the alignment of IT projects with business goals and seek feedback from business units. Adjust priorities and strategies as needed.

8. Vendor Partnerships: – Collaborate with technology vendors and partners to explore solutions that align with the company’s objectives. Vendor partnerships can provide insights into industry trends and innovations.

“Balancing technology demands with business needs is an ongoing process that requires collaboration, strategic thinking, and a deep understanding of both technology and the organization’s goals. Regular communication, adaptability, and a commitment to delivering value to the business are essential components of this balancing act,” says Vijay.

Challenges in the current technology landscape

In the current technology landscape, there are several significant challenges that Vijay, as a CIO, faces. These challenges often require a strategic approach and a combination of technology, leadership, and organizational solutions. Here are some of the biggest challenges and how he plans to address them:

1. Cybersecurity Threats and Data Privacy:

Challenge: The ever-evolving landscape of cybersecurity threats poses a constant risk to an organization’s data and systems. Ensuring data privacy and compliance with regulations is also challenging.

   – Addressing it: Vijay’s team has implemented a comprehensive cybersecurity strategy that includes regular security assessments, employee training, and robust incident response plans. They continuously update their defenses to stay ahead of emerging threats and adhere to data protection regulations with the help of a dedicated compliance team.

2. Digital Transformation and Innovation:

 – Challenge: Rapid technological advancements require organizations to adapt quickly to stay competitive. Balancing innovation with security and stability can be challenging.

   – Addressing it: He fosters a culture of innovation and continuous improvement within its IT department. They invest in emerging technologies like AI, IoT, and cloud computing while maintaining a focus on security and scalability. 

3. Legacy Systems and Technical Debt:

   – Challenge: Many organizations have legacy systems that are costly to maintain and not easily integrated with modern technologies. Technical debt can hinder agility.

   – Addressing it: They have a roadmap for gradually modernizing legacy systems while minimizing disruption. They prioritize projects based on strategic impact, ROI, and risk reduction. This includes investing in modernization tools and methodologies.

4. Cloud Adoption and Hybrid Environments:

   – Challenge: Managing a hybrid IT environment that includes on-premises, cloud, and edge computing can be complex and require careful planning.

   – Addressing it: Vijay’s team has a cloud strategy that considers cost optimization, scalability, and data security. A well-defined governance framework helps them make informed decisions about cloud adoption.

Looking at Trends in Technology 

Artificial Intelligence (AI) and Machine Learning (ML), feels Vijay,will continue to advance, impacting various aspects of business, from customer service chatbots to predictive analytics. To adapt, organizations must invest in AI/ML talent, tools, and infrastructure. They need to identify use cases where AI can enhance operations, customer experiences, and decision-making. 

Another trend, Edge Computing will gain prominence as organizations seek to process data closer to the source, reducing latency and improving real-time decision-making. Organizations need to assess their IT infrastructure for edge computing readiness and explore use cases where edge computing can enhance performance and reliability. 

Cybersecurity threats will continue to evolve, emphasizing the need for robust security measures and data privacy compliance. Organizations need to strengthen their cybersecurity posture through regular assessments, employee training, and incident response planning. They need to stay updated on data privacy regulations and ensure compliance.

Sustainability concerns, points out Vijay, will drive organizations to adopt eco-friendly IT practices and reduce their carbon footprint. He suggests developing a sustainability strategy that includes energy-efficient data centers, responsible e-waste disposal, and eco-friendly IT procurement.

Fostering Innovation 

Fostering innovation and encouraging experimentation within an organization while maintaining control over IT initiatives can be achieved through a balanced and strategic approach. As a Chief Information Officer (CIO), some strategies that Vijay employs to strike that balance are:

• Establish a Culture of Innovation: In today’s business climate, innovation is more than a buzzword. It is a necessity for businesses that want to stay competitive. Every Company Needs an Innovation Culture, Not an Innovation Team which can be achieved by some of the below:

1. Empower Employees
2. Embrace a culture of upskilling
3. Adapt quickly to lead change
4. Provide constructive feedback
5. Encourage open communication

• Clear Vision and Objectives: A clear vision statement defines the direction the organization is going, sets the stage for strategic plans, and illustrates exactly what an organization stands for. While objectives define the goals, by fulfilling an objective, you progress toward your goals and ultimately, your vision

• Encourage Risk-Taking: Whether your business is large or small, local or global, B2B or B2C, taking risks is important. Big businesses have taken many large risks, challenged the status quo, and moved forward even through failure. Risks can improve business growth, help to improve processes, ensure you stay innovative, and much more.

• Collaboration and Networking: Networking and Collaboration are essential for success in any field. They help you build relationships, share information and ideas, find new opportunities, gain support, and achieve greater success. Work and implement the 6C’s of collaboration for better networking: character, caring, competence, consistency, credibility, and communication.

• Hackathons and Innovation Challenges: Organize hackathons, innovation challenges, or internal competitions to stimulate creativity and idea generation. Recognize and reward innovative contributions.

• Collaboration between IT and Business Units: As per the latest Gartner study, after the impact of COVID-19, CIOs and IT leaders now enjoy a deeper, two-way relationship with the business as a result of the changing business needs spurred by COVID-19. They are educating senior stakeholders on the value of IT, especially during times of crisis, and assuming leadership of higher-impact initiatives. On the flip side, business leaders are also assuming more accountability for IT projects. The enterprise’s path to the future runs through IT, and surprisingly most of the boards and CEOsacknowledge it.

• Innovation Governance: Implement governance structures that guide and oversee innovation initiatives while ensuring alignment with organizational goals and security standards. 

• Regular Reviews and Assessment: Regular reviews can help establish transparency and foster trust. Creating clear expectations and goals will ensure that no one feels blindsided by their feedback, creating a sense of trust. Employees can benefit from self-reflection, too. Employees can improve their own performance by being encouraged to self-reflect. Reviews help provide clarity about company goals and expectations and provide a benchmark.

Measuring Success 

Measuring the success of IT initiatives and effectively communicating that success to the rest of the organization is critical for demonstrating the value of technology investments and fostering confidence in the IT department. Here are the steps and strategies Vijay uses to achieve this:

1. Define Key Performance Indicators (KPIs):

   – Identify and define specific KPIs that are directly tied to the objectives of each IT initiative. These KPIs should be measurable and aligned with the organization’s goals.

  – Ensure that each IT initiative has clear, well-defined objectives and expected outcomes. Objectives should be SMART (Specific, Measurable, Achievable, Relevant, and Time-bound).

 – Continuously monitor and track the progress of IT initiatives against established KPIs and objectives. This helps identify issues early and make timely adjustments.

– Compare the performance and outcomes of IT initiatives with industry benchmarks or competitors to gain perspective on how well your organization is doing.

– Clearly demonstrate how each IT initiative aligns with and contributes to the achievement of the organization’s broader business goals and strategic objectives.

2. Assess ROI and Cost-Benefit Analysis:

   – Conduct a thorough return on investment (ROI) analysis and cost-benefit analysis for each initiative. Calculate the financial and non-financial benefits achieved compared to the costs incurred.

      – Conduct post-implementation reviews to evaluate the impact of IT initiatives on the organization’s operations, efficiency, and overall performance.

3. Share Success Stories:

    – Highlight success stories and case studies that showcase the positive impact of IT initiatives on the organization. Use real-world examples to make success tangible. This is very important since sharing success stories from real-world examples can:

• Helps spotlight what is working well
• Spurs individuals and teams to continue to push the boundaries
• Activates behavior in the intended direction 
• Prods people to share good practices—that they might have thought as just ‘not worthy of sharing’
• Helps facilitate the unlearning of unproductive, obsolete, and restrictive practices

4. Transparency and Accountability:

    – Promote transparency in reporting and accountability for outcomes. Acknowledge both successes and areas where improvement is needed.

5. Continuous Improvement:

    – Use the insights gained from measuring success to inform future IT initiatives. Continuously improve processes, methodologies, and strategies based on lessons learned.

Collaborative Culture

Vijay concurs that working collaboratively with other executives and departments within the organization is essential for ensuring that technology is integrated into all aspects of the business. The strategies he uses to foster collaboration and alignment are:

• Understand Business Objectives: Regularly meeting with other executives, such as the CEO, CFO, and COO, to gain a deep understanding of the organization’s strategic objectives and business priorities. Objectives are important because they provide focus, direction, and motivation for an organization and its employees. They help prioritize resources and efforts, increase efficiency and accountability, and enable measurement of progress and success

• Align IT Strategy with Business Goals: Alignment between IT and business strategies promotes a culture of continuous improvement and innovation. By closely linking technology initiatives with business objectives, organizations encourage IT teams to constantly evaluate and enhance their processes, systems, and applications.

• Collaborative Planning: Collaborative planning allows companies to be more agile and adaptable in their technology and day-to-day operations. By fostering collaboration across departments and stakeholders, businesses can enhance communication, streamline workflows, and mitigate risks. 

• Cross-Functional Teams: Establish cross-functional teams or committees that bring together representatives from IT and other departments to collaborate on specific projects or initiatives. Cross-functional teams help organizations put their customers first, by encouraging effective communication across teams. Bringing people together with different perspectives can improve problem-solving and lead to smarter, more sustainable decision-making.

• Regular Communication: Maintain open and regular communication channels with other executives and department heads. Share updates on IT projects, achievements, and upcoming initiatives. This will ensure that everyone is on the same page and there is a two-way flow of information. By communicating regularly and proactively, everyone in the company becomes experienced and habituated to responding to queries which can help resolve them quickly.

• Business Impact Analysis: Collaborate with department leaders to conduct business impact assessments for technology projects. Determine how each project will affect different areas of the organization. A business impact analysis (BIA) lets a business recover from unforeseen roadblocks quickly by offering proactive strategies for recovery and risk management. The main function of a BIA is to ensure business continuity in the face of critical emergencies and disruptions.

• Metrics and Reporting: Define and share key performance indicators (KPIs) and metrics that demonstrate the impact of technology on various aspects of the business, such as revenue growth, cost savings, and customer satisfaction.

• Change Management: Change management drives the successful adoption and usage of change within the business. It helps in establishing a framework to manage the changes in the processes or departments. Prioritizing necessary changes to properly allocate resources and incorporating relevant information for smarter decision-making.

• Governance and Compliance: Collaborate with legal and compliance departments to ensure that technology initiatives meet regulatory requirements and data protection standards.

Words of Experience

Vijay’s advice for aspiring Chief Information Officers (CIOs) and essential skills for success in this role:

• Develop a Strong Business Acumen: Understand the business side of your organization. Familiarize yourself with its goals, challenges, and competitive landscape. A successful CIO needs to align technology with business objectives.

• Generally, many CIOs will have a background in either IT or business, but it’s becoming increasingly essential for them to know both and to understand how the two interact. A CIO needs to combine these skill sets in order to manage IT resources and plan for all aspects of IT, including development and policy, planning, budgeting, resourcing, and training. Good CIOs surround themselves with technology experts with deep domain knowledge. The ability to have a customer-first view when designing a solution, or even a strategy on how tech can improve the business, is so very important for a CIO.

• Communication, Project Management, and Leadership Skills: Effective communication is paramount. Develop strong leadership and interpersonal skills to collaborate with executives, departments, and teams across the organization. Leadership is not the same as management – it’s more abstract and harder to measure. Management is more about planning, organizing, delegating, and controlling, whereas leadership is more about vision, inspiration, and motivation.

• Think strategically and long-term: All CIOs must see the “big picture.” How will your current tech strategy play out in five or ten years? What will you need to do to achieve the most successful outcome? How does the company’s tech stack power those outcomes on a tactical level?

• Financial Acumen: Understand budgeting, cost management, and ROI analysis. CIOs often manage substantial budgets and must justify technology investments.

• Change Management: Leading your teams through change is one of the most critical skills a CIO can possess. Any enhancement will impact the entire organization. It’s best to consider the entire life cycle of the changes you make in order to ensure they’ll have a positive long-term effect. CIOs need to keep up-to-date with the wide variety of tech options available today, which are constantly changing. When big changes occur in a company, the CIO needs to keep IT moving forward. This could be through business process reengineering, organizational restructuring, or an entirely new strategic direction.

• Risk Management expert: Expertise risk management module thoroughly as it is the core module for any CIO or business as everything is about Risk.

“Lastly, becoming a CIO requires a blend of technical expertise, business acumen, and leadership skills. Embrace a holistic approach to your development, and remember that successful CIOs not only manage technology but also drive innovation, create value, and lead organizational change,” concludes Vijay.

Quote: “Dreams can become a reality when we possess a vision, a plan and the courage to chase that vision relentlessly”.

Quote: “Security is always too much until the day it is not enough.”

Quote: “The best CIOs are those who can make lasting positive change.”                         

William Rubio is an accomplished executive with over 29 years of experience in the global telecommunications, IT, Cloud industry, and M&A space. As the Chief Revenue Officer at CallTower, he has demonstrated exceptional proficiency in strategic planning, executive leadership, and technological innovation. His forward-thinking leadership and innovative approach to the Cloud Communications and Collaboration sectors have significantly advanced CallTower’s standing among the industry’s top solution providers.

Under William’s guidance, CallTower has seen exceptional revenue growth achievements, particularly in both emerging and mature markets. His ability to forecast industry trends and business development has been pivotal in capturing opportunities, fostering alliances, and propelling startup ventures into competitive positions. William’s technical expertise spans VoIP, Cloud solutions, wholesale, IT, and operations, which he adeptly combines with his passion for strong partnerships and quality solutions.

The Journey                                  

William’s professional journey commenced as an industrial engineer at AT&T back in 1995. During his pursuit of an MBA, he unearthed a profound interest in Sales, Marketing, and Business Development. The ability to bridge the gap between crafting solutions for clients and effectively communicating and implementing these solutions has always been a source of satisfaction for him. In today’s dynamic work environment, extended tenures with a single organization are becoming increasingly rare, yet he has remained dedicated to two companies over the past 22 years. As time has progressed, William’s passion has shifted towards leading teams, nurturing employee development, and witnessing the growth and success of the organizations he serves. These aspects continue to be his driving force today.

Within his current position, William oversees a spectrum of responsibilities encompassing sales, marketing, business development, and product support. Additionally, he engages in collaborative efforts with the vendors and plays an active role within the M&A Team. 

William believes that in any capacity, the essence of continual innovation and fostering challenges among team members is paramount. Simply assuming a managerial role falls short; true leadership entails inspiring individuals to explore new territories and embrace experimentation. “A leader guides rather than merely manages, recognizing the subtle yet crucial distinction between the two. Not all ideas resonate universally, and as a leader, it is imperative to acknowledge and leverage the unique strengths of each team member effectively. Effective leadership hinges on this ability to discern individual capabilities and harness them to drive collective success,” he asserts.

The Company

CallTower offers, integrates, and supports cloud-based communication and collaboration services to a global clientele of businesses. With a strategic focus on platforms such as Microsoft Teams, Zoom, and Cisco Webex, it augments its offerings with additional services like failover, contact center solutions, text messaging, analytics, AI, call recording compliance, and more, delivering a comprehensive end-to-end solution from a single provider. To maintain its distinctive edge, continuous learning and creativity are essential components of its approach. 

CallTower dedicates itself to exploring new technologies, monitoring trends, analyzing market data, and delving deep into industry insights to discern the leaders, the laggards, and how it can elevate its performance. “I firmly believe that without challenging our product and engineering teams, sustaining our success becomes an insurmountable challenge. Innovation remains at the core of our ethos, driving us to craft inventive solutions that cater to the unique needs of our valued customers,” says William.

Navigating the Turbulent Market

In the swift currents of the technology industry, continuous research and development are imperative for achieving success. As such, maintaining a mindset of innovation is a perpetual concern that resonates with William. Remaining static and failing to reinvent oneself swiftly places one at a significant disadvantage within a rapidly evolving landscape. The essence lies in the art of reinvention and staying ahead of the curve. 

Apart from the above, securing capital poses a perennial challenge for startups or ventures undergoing a fresh start, necessitating prudent utilization of investments. The pivotal question remains: How can I expand my business and boost revenue while keeping the cost of acquisition minimal? Acknowledging that returns on investments may entail a longer gestation period, it’s equally crucial to recognize the importance of swiftly pivoting if a chosen distribution channel proves ineffective. Flexibility and foresight are paramount, feels William and so having a contingency plan ready to deploy is imperative. 

“The ability to adapt rapidly stands as the linchpin of success in the startup landscape. While market data and analyst insights offer valuable perspectives, the true litmus test lies in engaging with potential customers and partners. This direct interaction reveals whether you are hitting the mark or veering off course, emphasizing the significance of agility and responsiveness in aligning your strategies with market demands,” he says.

When navigating the realm of revenue generation amidst an evolving market, William observes that being a master of one domain reigns supreme over being a jack of all trades. Selecting a specific vertical and distribution channel as one’s focal point is essential for unlocking success. While secondary channels and verticals remain crucial, concentrating on the primary lead that promises substantial growth is pivotal in propelling bookings and revenue forward.

Embracing Trends

William states that AI stands at the forefront of technological innovation, reshaping the industry and presenting a unique challenge: deciphering its potential to enhance customer experiences. 

“Understanding our customers’ requirements and translating them into actionable solutions lies at the heart of this endeavor. Equipping our organization with the requisite knowledge and training is pivotal in establishing our leadership in the realm of AI. By preparing our workforce and fostering a culture of creativity, we empower our employees to drive progress and innovation within the organization,” he says.

At CallTower, staying abreast of industry changes and meeting the evolving demands of modern consumers are integral to the operational ethos. The Company maintains a proactive approach to market trends, technologies, and consumer preferences through continuous research, engagement with industry experts, and monitoring competitor landscapes. By fostering a culture of innovation and learning, it ensures that the teams are equipped to adapt swiftly to shifts in the industry and consumer expectations. 

“Our commitment to ongoing training, skill development, and strategic planning enables us to not only meet current demands but also prepare effectively for sustained growth and future opportunities,” adds William.

Going Forward

As CallTower’s team embarks on a global expansion, it becomes paramount for each member to embrace personal growth, lead through demonstration, and continuously challenge our colleagues. The prospect of contributing to a rapidly expanding endeavor and leaving a lasting legacy over the next decade or two is truly exhilarating, per William. Every individual in his team now has the chance to seize this opportunity, embracing it wholeheartedly and relishing the journey ahead.

Words of Wisdom

As we conclude the interaction, William shares the following message for aspiring entrepreneurs:

“Among the myriad principles for success, several key tenets have been instrumental in shaping my journey. Establishing trust within your teams, leading through action, fostering open communication, maintaining humility, providing constructive feedback, and investing in the growth of your team members are pivotal elements that underpin success. These fundamental practices are non-negotiable for any aspiring entrepreneur setting foot into the realm of business.”

A Quote to Live By:

“Being an avid baseball enthusiast, I have long admired Babe Ruth and his legacy. A quote of his that resonates with me on a weekly basis is – Never let the fear of striking out keep you from playing the game.”

Quote: “CallTower is the leading provider of hosted enterprise-class unified communications solutions for growing businesses globally.” 

Quote: “We empower organizations worldwide to elevate their communication capabilities to new heights.”

It’s not easy for founders trying to build a startup company. When done with the right guidance it’s proven to be a differentiating factor in building a successful company. WestWave Capital invests in pre-seed, seed, and Series A enterprise startups. They give advice to cofounders, working closely with startups to reimagine industries and advance their product strategies to build a successful company. They focus on building deep technology enterprise companies in areas such as SaaS, Security, Cloud Infrastructure, Edge Computing, Analytics, Robotics and Artificial Intelligence. Their portfolio includes innovative ventures across various domains, and they actively support their portfolio companies with operational strategy, networking, and introductions to customers and partners.

Finding his Forte

Early in his career, Warren Weiss, Founder, and Partner, of WestWave Capital, didn’t really know that he wanted to be in the software and technology business because there wasn’t much of a technology business.  He majored in criminology at Western Illinois University, thinking he would pursue a career at the FBI. He learned through doing some internships, that this wasn’t the direction he wanted to go. 

During that time, a friend of Warren’s developed a voice response system to prevent companies from accepting bad checks. This system allowed users to input a driver’s license or social security number via touchtone phones or point-of-sale systems, providing voice responses to verify or guarantee checks. Inspired by this experience, Warren became passionate about the software industry and eventually played a key role in selling to a public company.

Warren’s professional career was most influenced by John Imlay who ran a company called Management Science America (MSA) in Atlanta, Georgia. His motto, “People are the key”, guided his decisions.  It was very early in the technology business, so there were no readily available software executives or engineers. They had to build teams from different sectors of the industry, such as service bureaus, computer hardware, and consulting industries. Warren was very fortunate to be at an inflection point in the software industry in the late seventies. There was no experienced software talent like there is today. It gave him an opportunity to grow with an industry from the very beginning. Culturally, he adopted the “People Are the Key” motto, and this formed his thinking throughout his career about the importance of culture and leadership. He believed patience, discipline, desire, teamwork, and loyalty formed the framework for recruiting and retaining the best talent. These attributes were what he looked for in the people that he wanted to work with and hire throughout his career.

Warren, as head of a regional sales organization at MSA, worked with incredibly talented pioneers in the software industry. During his eleven years there, MSA produced over 200 CEOs who spread throughout the industry, creating an extensive personal network that benefited Warren throughout his career. Later, at Continuum, he leveraged their customer base to build a successful outsourcing business, capitalizing on the emerging technology of graphical user interfaces and achieving a remarkable outcome for investors when the company was sold for over 1.5 billion dollars.

At this point, Warren’s goal was to become a CEO. He got an opportunity from Steve Jobs, who called him at home one day and said, “I think you understand the technology we built at Next, and what it can do for the software industry”.  Working alongside Steve Jobs, they shut down the hardware business and built a software company with a great operating system and development environment. They ended up selling the company back to Apple which used the Next Software, operating system, and development environment, App Store, iTunes, etc.  Warren was able to meet a lot of people whilst working at Next, which helped him build a great network in Silicon Valley.  He had four CEO roles where he took the culture that he learned early on at MSA and used it as a model for management and leadership to build successful companies, delivering great returns to the investors.

Asera was one of the first SaaS companies in the world.  They built order processing and inventory systems that became new front ends for ERP systems like Oracle and SAP.  Warren spent two years doing that, and although it wasn’t a great outcome for investors, it was a great experience for him, as it helped him learn how the Venture Capital industry makes decisions to invest in startup companies. That took him all the way up to the 2002 era where he met the partners at Foundation Capital. He joined the firm, changing his career to become a venture capitalist. Using the skills, experience, and culture he had learned along the way, he has now built a long and successful venture career.  

Establishing WestWave

When Warren started WestWave Capital in 2018, he was able to use a lot of the things that he had learned at Foundation Capital.  At WestWave Capital, they started in the emerging manager space, investing in the enterprise, deep technology market.  They invest in the earliest rounds, between $1 to $5 million dollars, becoming the first institutional investor in a startup company.

“In this very competitive industry partnering with Co-investors is an important part of our business. I wanted to start the firm from scratch with people and a team that really had the same passion I had for the enterprise market in areas such as Security, SaaS, Analytics, Edge Computing, Robotics, and AI.  AI has been around for 30 years. It has recently gotten much easier with Chat GPT-like products so that consumers and employees can use the technology in the same way they use Google Search,” shares Warren.

Warren has spent the last 6 years building a team of equals at WestWave Capital. Their partnership, rooted in the principles of early-stage venture capital, focuses on long-term success. The firm helps startups find customers, key employees, and strategic partners with the goal of building great companies which provide excellent returns for investors. Warren emphasizes direct communication with entrepreneurs about exit strategies, recognizing that sometimes selling or shutting down a company is necessary due to market shifts or other challenges.

The team has now evolved into a firm that is great at finding its own unique proprietary companies to invest in, using their own personal networks.

“We have a firm with a very diverse culture that can express their different opinions, creating a much higher bar in making investment decisions. We all vote together on projects we invest in. We all set the budget for the firm. We all know each other’s compensation.  Being a small firm makes it easier to understand what it takes to go from someone who is just learning to invest, to being a full general partner in the firm.  It has all come together for us as we’re in our 6th year now, heading towards our third fund,” shares Warren.

A Structured Methodology for Promising Startups

Warren’s working style is structured yet flexible, benefiting from everyone’s unique approaches.  His team at WestWave Capital follows a well-thought-out process for reviewing investment opportunities and conducting due diligence.  They work within a framework that assesses these questions: Why should we invest in this? How are we going to make money for our limited partners and ourselves? And what are the risks? 

Working in Venture Capital as an Alpha-style investor involves seeking high-impact opportunities akin to baseball analogies such as home runs or grand slams. If a company lacks product-market fit, either an early sale exit or closure of the company is crucial. Assessing portfolio companies, their market value, financing needs, and leadership (especially CEOs) is essential. Beyond financial investment, WestWave Capital actively supports their investments by facilitating customer acquisition, strategic partnerships, talent recruitment, and additional funding rounds. Collaborating with the right investors, board members, and advisors is key to a company’s success.    

While assessing a promising startup, there is a little bit of what Warren calls motherhood-and-apple-pie in the venture industry. It needs to be a large market and have a great team that can build an exciting product. The team must have a go-to-market strategy for sales, marketing, and customer service which allows them to make a minimum 70% gross margin.  The company needs a proven business model for customer renewals, upselling new products, and cross-selling existing products.  

As a company grows, the CEO often needs to replace key executives who may not be suited for all stages of the business. Similar to changing tires on a car, personnel adjustments are necessary. While founding CEOs may struggle to lead a company all the way to an IPO, it’s crucial to prioritize shareholders’ interests. If needed, WestWave Capital proactively brings in new talent to facilitate growth.

As an established Venture Capital firm, WestWave Capital has many portfolio companies to work with. Staying connected with portfolio companies, their customers and employees is important to the success of the company. Customer satisfaction matters, especially in an era where alternatives abound. Continuously improving products ensures customer retention.  

Looking at Trends & Innovations

WestWave Capital focuses on new markets, including Robotics and AI software companies. They invest in new companies where they have a deep investing thesis in each of these categories. From evaluating one thousand new companies annually, they narrow down to about twelve investments. Over the past six years, they’ve invested in approximately one new company per month. Markets like Climate, Crypto, Consumer, and Healthcare don’t align with their investing thesis. In a new market like Multi-Cloud Management, Warren was an investor in Cliqr Technologies, which pioneered Multi-Cloud Management, enabling you to move any application to any cloud. The investment he made in Cliqr Technologies was successful, despite skepticism from Venture Capital Investors that Amazon would be the only Cloud company in the industry. He recognized the need for many cloud computing options. WestWave Capital’s approach spans the entire cloud stack, from middleware to security, and Artificial Intelligence, enabling digitization in new trillion-dollar industries. Solutions built atop multi-cloud environments, like WestWave Capital portfolio companies Solo.io and Spectro Cloud, increase revenue growth, and yield substantial returns to investors.

“If an investment meets one of our theses, and we decide to do due diligence, we will then do references on the team, talk to customers, do a deep technical dive on the product, research competitors in the industry, and talk with any existing key investors.  Next, we formalize our work into an investor summary to make the final decision.  We will then have a unanimous vote by the partnership to approve the investment,” shares Warren.

Mentoring Entrepreneurs

Warren believes that successful entrepreneurs possess a unique blend of positive outlook, curiosity, and a desire to build a great company. They need to prioritize critical areas such as financial business models, product-market fit, sales cycle and a complete go-to-market strategy. For entrepreneurs, he advises that interacting with larger customers will lead to building a better product. Investments from Venture capital firms can be very expensive as they will require a large ownership stake in the company. It’s important for companies to hit their revenue milestones so that it will be worth taking a Venture Capital investment. In the early years of a new company, it’s important to grow revenue at 100% per year. As a company grows larger, it’s important to have a plan to be profitable. A company must always understand it can never run out of cash. Companies must plan on hitting their revenue milestones so they can arrange new financings 6-12 month ahead of when they will need more cash. Before seeking additional funding, entrepreneurs need to have product market fit, a proven sales cycle and happy customers. Otherwise, securing more capital becomes challenging.

“We help our portfolio companies understand the journey of raising several rounds of funding from different types of venture capital firms. It’s like horses in a horse race. There are seed firms, series A firms, B firms, C firms, growth firms, and mezzanine firms, and they all want different things. Different levels of revenue and different levels of proof. The management team needs to work together, to process and understand these important goals for raising money from these different series of investors,” says Warren.

He suggests that for early-stage companies, being analytically driven and tracking key performance indicators (KPIs) is crucial. These KPIs will allow you to make rapid adjustments to changes to your business. Startups, unburdened by existing customers, can innovate more freely. However, once a customer base is established, innovation becomes slower. Entrepreneurs must evaluate whether they truly deserve funding or if selling the company to a larger entity is a better path. Before accepting an investment, an entrepreneur needs to do thorough due diligence on potential investors to ensure they are picking the right venture firm and partner for their business.

“Entrepreneurs are talented individuals, and as a seasoned investor you must earn their trust to help them to solve hard problems. We guide them through short- and long-term priorities. Operational control over financials is crucial. Often, founders come from product and engineering backgrounds, not sales or marketing. CEOs must excel in strategy, execution, and leadership to succeed,” shares Warren.

Future Landscape

Even though it’s always hard to predict the venture landscape, Warren feels that it’s one of the fun and exciting things about it. However, there are a lot of venture capital firms today and it’s hard to envision that all will be successful.  Warren has been through several periods where the number of VC firms increase and then decrease. He thinks it’s important to take investments from venture firms and partners who will be around for a long time.  

“We see this as probably the greatest time in history to be a venture capitalist in the technology business. The world is in for massive changes in how everything operates at every level of our society. Many of those hopefully will be for the betterment of society. Left unchecked, we know there are already concerns about AI and what that could do, but if we think 50 or 100 years ahead, we’ll look back at today and say we were barbarians. For example, looking at crystallized medicine, air travel, health, how we commuted around, and how we lived our lives. Every aspect of life will be challenged by every generation. I believe technology could play the most critical role in doing good for society,” concludes Warren.