Flat World
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Success must be measured by customer delight: Infosys CFO
Infosys CFO V. Balakrishnan believes that the role of finance in the Flat World transcends cost structures. To achieve success, global companies must focus on customer delight and leverage local talent. Speaking on 'The Role of Finance in Supporting Globalization' at the Oracle CFO summit, he discussed how finance can rise to the challenges and opportunities of globalization.
Customer delight, a measure of success
According to Balakrishnan, the success of a globalization strategy needs to be viewed from a customer perspective. Infosys measures "success in terms of how well we address the local needs of our customers... We want people with local expertise and industry knowledge who can go and make a difference to our customers."
Think beyond cost advantage
Balakrishnan believes that India offers a vast pool of knowledge resources, apart from cost advantages. Infosys engages clients and addresses their needs by investing in R&D. Till date, Infosys has filed 90 patents.
Leveraging local talent
Apart from being client-centric, global companies must focus on local talent and invest in training their global talent pool. He spoke about how Infosys was localizing its global operations by hiring and training talent. "New international recruits come to the (Global Education) Center (in Mysore, India) for six months to gain real-life training and experience in the Infosys Global Delivery Model. This program will help us attract and retain the best talent from each of the countries in which we operate."
Be unique to build a global brand
The "Infosys" brand is one of the most important intangible assets of the company. Balakrishnan says that Infosys enhanced its brand value by being the first mover: The first Indian company to be listed on NASDAQ and comply with US GAAP guidelines. In fact, Infosys is perhaps the first company in the world to produce the Annual Report in the GAAP of eight different countries.
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