Account management involves building and expanding relationships with existing clients and customer satisfaction and loyalty is vital to a business’ success.
For a global business such as BSO, every region holds a wealth of opportunity, but cultural nuances and regional characteristics mean that customers located around the world have varying expectations. They need a point of contact who appreciates the differences, is highly knowledgeable about the local marketplace and, most importantly, understands the customers’ needs in that region.
Our two-time Best Salesperson of the Year, Jamie Fyffe, is Head of Account Management for the UK sales team and shares his unique expertise in and around the financial market in India, and his experience with BSO thus far.
WHAT ATTRACTED YOU TO SALES, AND SPECIFICALLY THE FINANCE AND TELECOMS INDUSTRY?
I was attracted to sales because it gave me the ability to help clients expand their business and achieve their goals. I enjoy relationship building and gaining clients’ trust, which is vital in my role as Head of Account Management.
I worked at Thomson Reuters for 7 years as an Account Manager. I joined BSO as I saw the value of BSO’s technology for the finance industry, and so my previous role helped me to know what my clients need and look for in a connectivity provider.
I feel well-equipped in my position and believe that my previous experience and expertise in the financial industry enables me to support my clients in a unique and knowledgeable manner.
WHERE’S YOUR FAVOURITE PLACE YOU’VE TRAVELLED TO WHILST AT BSO AND WHY?
I enjoy travelling to India to meet my clients based there. I enjoy meeting new people in the region and being exposed to a culture that completely differs from London, where I live and work.
WHAT DO YOU BELIEVE ARE THE THREE MAIN CHALLENGES THAT FACE THE INDIAN FINANCIAL SECTOR?
In my opinion, the three main challenges for the financial sector in India are tax, regulation and red tape.
Although Prime Minister Modi promised to end ‘tax terrorism’ and simplify the tax code, and despite the introduction of the Goods and Services Tax, India’s tax laws are still considered the most complex in the APAC region, according to a recent UN report.
In April, the Reserve Bank of India (RBI) demanded that all regulated financial institutions, including banks, withdraw support to cryptocurrency businesses in India. The institutions were given until 5th July to do so or face regulatory action. This was due to the various concerns posed by cryptocurrencies relating to consumer protection, market integrity, and preventing financial crimes.
India’s domestic hurdles are the biggest drawbacks for the financial sector, and until regulation and tax laws are tackled, and their red tape is slashed it will continue to be a challenging region for the finance community.
SO WHAT OPPORTUNITIES DOES INDIA HOLD FOR THE FINANCE COMMUNITY?
India holds many opportunities for the financial trading community. The nation is one of the fastest growing major economies in the world, and it’s GDP is forecast to grow by 7.4% this year.
India has become one of the top five nations for fintech, and a recent KMPG report states that the transaction value for the Indian fintech sector is expected to reach $73 billion by 2020.
The introduction of GIFT City also holds a wealth of opportunities for traders in India. Government exemptions have made trading virtually tax-free and, with low property prices, moving their headquarters to GIFT city has meant many companies have reduced their overall costs by up to 80%.
The city is also reported to have its own financial regulator to cut down on the red tape and bureaucracy that’s often faced by foreign investors.
OVERALL DO YOU THINK INDIA IS ON TRACK TO BECOME A KEY FINANCIAL HUB IN ASIA?
Despite the challenges faced by the financial community in this region such as cash band and a tax overhaul, India’s economy still grew by 7.2% in the final three months of 2017, which was faster than China.
I believe Manoj Ladwa, the non-executive director of India Infrastructure Finance Company, sums it up perfectly when he said:
“If London is the world’s financial capital then Mumbai is the financial capital of the emerging economies.”
WHEN DO YOU FEEL MOST REWARDED?
I would say my most rewarding moments occur when I am able to bring a solution to a client that they didn’t know they needed. I believe this skill is down to my deep understanding of their technical needs which I gained from my position at Thomson Reuters, and my years at BSO.
WHAT DO YOU ENJOY MOST ABOUT WORKING AT BSO, AND HOW DOES IT COMPARE TO OTHER ORGANISATIONS YOU HAVE WORKED FOR?
BSO provides a collaborative, hard-working environment. In my opinion, it’s a fast-moving and focused organization which is well-structured and provides the right framework to enable employee success and development.
I’m proud to be a part of a team of individuals who are extremely knowledgeable, credible, and always willing to go the extra mile.
BSO is a company with almost 80 employees, however, it achieves and exceeds the results of firms that have 800 employees.
WHAT DO YOU WANT TO ACHIEVE AT BSO IN 2018?
Recently we were voted Best High-Performance Network Provider at the ITT awards. This award is voted by our peers in the finance industry and recognizes the high-quality of service we work hard to offer to our clients every day. My aim this year is to not only meet my sales targets but to continue to meet and exceed our clients’ expectations.
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