1. Tell us more about Polestar Solutions and your journey.
I’d say, the numbers game is something I have always been interested in. I entered the field of finance over 24 years ago and have since garnered hands-on experience in the Indian capital market, its business operations, and complex business processes. Prior to joining Polestar, I was spearheading wealth operations for Citibank and JM Financials.
In my role as CFO and Co-Founder at Polestar Solutions, I spearhead the finance function and have given strategic direction to the human resources practice in the organization’s early years, which has set the tone for HR to this date.
It was back in 2011 when my co-founders, Chetan Alsisaria, Amit Kumar Alsisaria, and I started having conversations on the need for data-driven solutions. At the time, while there were large-scale players in India, we knew that we could bring a differentiating advantage with a focus on innovation, analytics-strategy engagement, an obsession with client-centricity, and a consulting approach.
Today, ten years on we have made a deep impact on over 300 brands globally, across new-age startups, Fortune 500 companies, conglomerates, as well as in the government sector. We have also built a solid high-performance team of over 450 people and are committed to always being employee-centric as we enter the next phase of our growth.
2. Can you describe your experience in managing financial risk and implementing risk management strategies?
While building a fast-scaling business it is important to build financial systems and processes which are sustainable in the long term. Our risk-taking abilities are highlighted in our attitude of never backing down in moments of challenges and additionally fulfilling promises made to stakeholders no matter the business scenario. Furthermore, when faced with challenging situations, it is important to identify risks and find ways to mitigate them.
During some of our most challenging times, we took up some of our most complex work, even with a zero lifeline, and built confidence and trust in our capabilities. This put our brand out in the market for delivering the best analytics implementations and turn-around stories. The overall focus has always been on building new technological capabilities as well as constantly disrupting our service offerings to become better each day.
3. As a co-founder and CFO, you've been instrumental in setting up finance and human resource practices at Polestar Solutions. Could you elaborate on some of the challenges you faced during this process and how you overcame them?
Over the years, the technology space has seen its own fair share of ups and downs, right from stiff competition to lack of skilled workforce to difficulties in scaling operations. However, we have had our core values as a guiding light which has helped us stay focused in driving sustainable growth.
For example, when it came to building the right team, we faced some challenges in the early years. Today, we pride ourselves in being an employee-centric organization; because we focus on building motivated teams, and cultivating excellence and employee engagement — keys to delivering exceptional results for our clients. Our employee-first approach has enabled us to take a small team and grow it with the right mindset and camaraderie to push the extra mile.
In the early days some of the biggest challenges that I had to ensure as a finance leader was that we were rigorous about implementing emerging technologies and meeting employee demands while maintaining cash flow and keeping in mind financial planning for the long term.
There will always be challenges, but sometimes challenges are necessary for growth pushing us to rethink and redesign. With this approach, we have brought in immense innovation (internally and for our clients), defined the right processes across all fronts, developed functional and industry expertise, and built trust-based relationships with clients, employees, and partners.
4. In your opinion, what are the key qualities that differentiate an innovative CFO in the IT industry from a traditional CFO? How have you embodied these qualities in your role at Polestar Solutions?
Recognizing the growing competition and complexity of the environment, we welcomed innovation in our early days. As we are in a fast-growth phase, it is important that one function speaks to another within an organization. We leverage technology to build collaborations and integrations between finance and other key departments for seamless functioning.
Additionally, thanks to process automation we have been able to move away from manual processes, enabling better efficiency, improving productivity and thereby leaving room for solving more creative challenges. As a finance leader, it is a top priority to ensure that we are constantly improving financial processes and that we are aligned with the ever-evolving financial regulations and compliances.
5. What are some of the most important factors for running a successful business?
There is no single ingredient, but rather a combination of ingredients to build and run a successful business. Having said that, we were clear about our vision from the very beginning, and once that was established, we knew what we needed to focus on.
For example, our laser-like focus on innovation and client-centricity has helped clients understand what to expect from us. We see a repeat ratio rate of over 85% and that’s how we measure our impact.
6. What would you like to share with our budding entrepreneurs?
For budding entrepreneurs, I would say find your niche and an unwavering commitment to build your capabilities to solve real business challenges in the best possible way that no one else is delivering.
Keep disrupting, and do not wait for market disruptions to innovate your own offerings. Also, there will always be challenges — no matter what size your company is — so keep this in mind, build a world-class team, continuously improve customer servicing, and focus on innovation to stay ahead of the curve.
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Interviewed By - Saloni
Edited By - Aarya Gode
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