Andy Singh: The leading force behind the rise of Teqfocus
THE 20 MOST INSPIRING CEOs TO WATCH IN 2023
Prime Insights Magazine constantly looks for motivating stories of successful CEOs who have defied conventional wisdom in business. Today, we came to Teqfocus Solutions Pvt. Ltd., which is devoted to digital solutions and IT consulting. While the brand’s service offering is incredible, our readers will find Andy Singh’s story incredibly motivating. He has guided the company on its successful journey as CEO. We took advantage of the chance to speak with the luminary; his clear vision left us speechless. Join us as we highlight Andy’s company on our platform in the dazzling category of “The 20 Most Inspiring CEOs to Watch in 2023”!
Prime Insights: Tell us the inception story of Teqfocus. How did the journey begin?
Andy: We started as a small team with big dreams. And with the right mix of resources, partnerships, processes, and technologies, we began our journey supporting small and medium businesses in North America and India. We owe it to our customer trust, dependable alliances, team commitment, industry-focused approach, and technological expertise that helped us quickly scale up to support larger businesses.
In 2015, we moved our leadership team to North America and set up offices in London, Toronto, and New York. We provided cloud migration services to international clients, allowing them to scale their businesses quickly and effectively. With this success, we never looked back!
Prime Insights: How do you balance work and personal life with so much on your plate?
Andy: There was no balance when we were just a few people starting the business from the ground up! We combined our work with pleasure, and there were many hustles. But we still enjoyed building the business. So, naturally, there was no scope for limiting the work to just eight hours. As a result, the initial five to seven years were incredibly hectic for all of us.
But gradually, as our team grew and we hired more people to help with the work, our lives became more balanced. We are proud to work with extraordinary minds who take our company values and professionalism to the next level with enthusiasm and efficiency. Building a business is like raising a child — you never know when you need to wake up in the middle of the night to attend to a client! The company will always be my first child, who needs the most attention. The real challenge is balancing out this attention and commitment to my two children back at home!
Prime Insights: As a CEO, is your struggle different from others?
Andy: The struggles of building a business from the ground up require much sacrifice, which is valid for all founders and CEOs worldwide. We know four key elements underpin a successful organization: the right people to make up the perfect team, appropriate processes to form the basis of the business, the right solution to address customer needs, and the right mix of technology to connect it all.
We found our challenges when expanding our customer base to international markets. We had to undergo the arduous process of obtaining visas for six countries. Still, this became much easier as the company progressed and the leadership team established bases in other countries. I am incredibly proud that we have done this without the need for external investors. Instead, we have been able to remain agile, cost-effective, and results-driven in our approach to customer service, and we have invested wisely and strategically to ensure that our business can continue to grow and expand.
Prime Insights: Which industries do your clients belong to?
Andy: We serve clients across Mid-market, FinServ, Healthcare, Life Sciences, and Manufacturing industries. We treat all our clients as our first and consistently help them with the best possible business solution.
Prime Insights: How do you keep up with the changing market trends with many technologies at play?
Andy: We believe that change is the only constant, and those who do not accept it become irrelevant. To stay ahead of the curve, we promote a culture of innovation and challenge the status quo, embracing fresh ideas and new technologies. We partner with leading industry players, build solid relationships and stay up to date with the latest trends, be it related to technology, human resources, business processes, or information security.
Our alliances with AWS and Salesforce have enabled us to remain vigilant about the ever-changing market trends and customer needs. We work closely with our customers to manage change and resolve business and technological challenges. We also learn and grow simultaneously, making the most of the opportunities to enhance our client’s business ecosystems and gain invaluable insights into the future of technology, people, processes, and solutions. Doing so ensures that we remain relevant and functional amidst the chaos.
Prime Insights: What is your take on R&D? Is it essential for a company’s growth?
Andy: Every company has its agenda and mechanisms to manage stakeholder expectations and investment returns. Companies with longer investment cycles, such as ours, invest years in research and development (R&D) to create maximum value for stakeholders. In contrast, certain companies with shorter investment cycles may not invest in R&D due to internal policy, lack of capability, or sheer non-requirement.
We are proud of our R&D capacity, which is constantly enhanced by the best brains in the industry. It ensures that our solutions stay ahead of the competition, disruption, innovation and accelerate the growth of our customers and stakeholders. Our R&D makes us future-ready! We are creating an ecosystem, alongside other companies with a similar vision, to streamline fund-raising for R&D investments. Keep an eye out for more news about this soon.
Prime Insights: How do CEOs remain effective and thrive in an evolving business landscape?
Andy: Every CEO faces unique challenges, depending on the type of business, customers, and solutions they provide. To remain effective and drive continuous success, CEOs must create an original and relevant purpose or a common business goal that acts as a binding force to keep every employee, from top to bottom, aligned and working towards a shared mission.
It is up to the CEO to create a well-rounded company philosophy and instill it in each employee. CEOs must acquire, retain and train talent with the right resources and skillset to stay competitive. To be successful, CEOs must remain on top of everything happening across the company and know how to delegate tasks while keeping a broad overview.
Today, CEOs face various challenges, such as managing and raising funds, meeting stakeholders’ and customers’ expectations, competing with rivals, and showing consistent business growth. But the most crucial task is ensuring the company culture remains intact. Additionally, CEOs must use all the tools and techniques available to keep communication channels open internally and externally. They must also have the right marketing mix to remain transparent and keep stakeholders informed about their people, processes, mission and vision, products, services, challenges, and successes.
Finally, CEOs must stay ready to drive necessary changes in an ever-evolving business landscape while keeping the company philosophy alive. With the arrival of new technologies such as chatbots, ChatGPT, Artificial Intelligence, and Robotics, even the most prominent players must challenge their status quo. But, if we keep our ingrained company values and principles in mind while keeping customers and investors close, there will be no shortage of opportunities to grow and make a difference in our markets.
Prime Insights: How important is it to keep your employees happy? How do you achieve that?
Andy: Keeping our team happy and satisfied is an ongoing commitment. I believe in the power of teamwork and recognize that this generation is eager for recognition, with high expectations, energy, and passion. They want to see quick results and expect even faster rewards. They can become frustrated if there is an insufficient response or result for a specific activity. Keeping track of each individual’s performance or results can be challenging, so I strive to keep the entire team happy and satisfied. For this purpose, we have invested in competitive HR processes and departments tasked with maintaining employee happiness.
That said, we still have room for improvement. We must address these issues at a leadership level and work to share our best practices with other companies facing similar challenges. My approach is to give the team enough space and the necessary framework to operate. I have faith that the people we hire at the leadership level will embody our culture and lead the way in meeting our goals while bringing success to our customers.
It is also essential that incoming team members feel accepted and can work in harmony with existing team members, bringing fresh ideas while also adhering to our company culture. We all share a common goal and vision: to effectively serve mid-market customers and help them grow into Fortune 500/1000 companies.
Prime Insights: Who do you look up to in life? And what would be your message to the ones who look up to you?
Andy: That is a great question! I look up to companies and CEOs who are a few steps ahead of us. Their ambition, growth, and success are inspiring, and I respect the leaders who have built their companies from the ground up. We learn from their mistakes and successes to achieve our growth in a shorter period. I also admire product companies and technology leaders who have achieved incredible success in a short time. They have been able to generate much value for their stakeholders. At Teqfocus, we focus on building a healthy business line with a top and bottom line that supports our growth trajectory and helps keep the business profitable.
My message to those who look up to me is to focus on the three key verticals of growth that any company possesses: people (the heart of the company), processes (the key to success and scale), and technology and R&D (the foundation of our services). Additionally, marketing has become an increasingly crucial fourth vertical gaining momentum over the last five years. And it is essential to ensure that the brand messaging is consistently communicated to all stakeholders in real-time. It will ensure transparency and create trust and admiration in people’s minds.