The Finance World Magazine| Edition: March 2023

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Interview Leadership commitment is an ongoing requirement for R&D, which cannot be established as a department that is simply created and left unattended. Sridhar Vembu, CEO of Zoho Corporation In a one-to-one conversation with Manoj Sureka 92 www.thefinanceworld.com March 2023
Sridhar Vembu is the founder and CEO of Zoho Corporation, established in California in 1996. The company is the parent organization of three prominent brands; Zoho, ManageEngine, and WebNMS - which offer SaaS (Software as a Service) products to businesses worldwide. Exclusive to The Finance World Magazine Q. We have heard a lot about AI for the past few months, so what is your say over there? You can take ChatGPT as an example, but one thing to keep in mind is that there is still text prediction revision because such tools don’t have a lot of truth or reality. So, they can give you very plausible and clear-sounding texts, but they might not have a connection with reality or truth. This problem has to be solved; these tools have to be augmented with what is true and what is a fact. Those are the types of problems that have to be solved. For example, these tools do not know the notion of gravity, where objects automatically fall. So, these things have to be taught to these tools. This applies even to mathematics; for example, these tools have problems with adding, subtracting, etc. These things are different from text prediction. All these other things will be brought to AI; that’s how I see the future. Q. How do you suggest for a company at the SME level or corporate level to keep a balance between R&D or innovation and revenue? It is good first to have spent a proportional budget already. It’s true for almost most companies because this is what keeps enhancing your offerings. R&D is not some Nobel Prize-winning new research. For example, I could be managing a restaurant where new recipes are considered R&D. How do you create your new recipes? If I find some new formula, my sales could suddenly grow up, but for that, I will be experimenting. I would have one or two people try new things. This could be true in media too; how you present your information better, what kind of visuals are easier to understand, etc. In other words, you are curious, and your mind is constantly learning how to do this better. This is the continuous improvement process of every business having a proportional budget. It is good to allocate. The leadership should also be committed to this. R&D is not some department you set up and forget; the leadership has to be constantly committed to this. Establish trust with the employees in order for them to work together and gain the trust of the customers. Q. What can you say to a new entrepreneur who starts his journey and listens to this statement, “money is not important”? Money is important because otherwise, how do you pay the bills, pay your employees, or invest in products? In the quest for money, however, it is important to keep in mind the idea of not sacrificing any long-term goals we have. In a sense, if I’m worried about the next quarter’s profit result, I may take decisions that harm the longterm commitment of employees, the commitment of customers, etc. That is bad. In other words, we have to keep a balance between making sure we are able to pay our bills and making sure we’re viable, relevant, and vibrant in the long term, so that balance is important. Q. How do you see the benefits for businesses in light of the relations between the governments of the UAE and India? The ties between the two nations are very strong and getting stronger. Hence, the business climate is very good here, particularly for Indians. We also see in the market customers who love doing business with a company like us because we come with a very different mindset. First of all, our technology is world-class and very affordable. We also come with a very humble approach of working with customers, learning from them, and applying those lessons to our software. So, this refreshing approach is also something good to customers; they love it, and that is how this cultural connection is actually fueling our expansion. Q. Do you have any final message for our readers or advice on how they can grow in their business and personal lives and keep the balance between the two? It’s important to keep the long-term focus and make sure you take care of your employees well; offer them a safe, secure work environment and create your team. Earn the employees’ trust so that collectively the employees can go and earn the customer’s trust. March 2023 www.thefinanceworld.com 93
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Contents March 2023 PERSONAL FINANC
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Personal Finance How to Get Rid of
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UAE Banking First Abu Dhabi Bank de
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UAE Banking FAB foresees a relative
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UAE Banking News Central Bank Gover
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UAE Reforms Ministry of Economy Unv
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Fintech UAE Fintech and e-Commerce
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Fintech News Saudi Arabia Boosts St
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Fintech Application MyFawry Date of
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Business UAE Ranks First for Best B
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Business News Burjeel and Leejam Jo
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Wheels Ford Everest The Ford Everes
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Cover Story 30 www.thefinanceworld.
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Cover Story Astronauts aboard the I
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Cover Story various segments, such
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Start-up Promising Startups transfo
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Startup News Zurich Innovation Cham
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Energy The UAE promotes Future Solu
Page 42 and 43: Energy achieve that goal. For this
Page 44 and 45: Energy News Saudi Aramco invests in
Page 46 and 47: Wheels Lotus Eletre The new Lotus E
Page 48 and 49: Healthcare The UAE’s Healthcare S
Page 50 and 51: Healthcare Furthermore, The Departm
Page 52 and 53: Healthcare News Burjeel Holdings Re
Page 54 and 55: Mergers & Acquisitions Middle East
Page 56 and 57: Merger and Acquisition News GMG Acq
Page 58 and 59: Cryptocurrency How to set up a Cryp
Page 60 and 61: Cryptocurrency How to obtain a cryp
Page 62 and 63: Cryptocurrency News Investopia Part
Page 64 and 65: Real Estate Reasons to Invest in Du
Page 66 and 67: Real Estate potential for capital g
Page 68 and 69: Real Estate News Aldar Properties R
Page 70 and 71: Event Industry CEO Shaaista Khan Os
Page 72 and 73: Event Industry Shaaista: Our passio
Page 74 and 75: Funding & Investment Sharjah Invest
Page 76 and 77: Funding and Investment News Saudi s
Page 78 and 79: Digital Assets Dubai Announces Guid
Page 80 and 81: Stock Market How and Why to Invest
Page 82 and 83: Wheels Ferrari SF-23 Ferrari is the
Page 84 and 85: Corporate Tax How UAE Corporate Tax
Page 86 and 87: Corporate Results RAKBANK Q4’22 N
Page 88 and 89: Events The Annual International Sem
Page 90 and 91: Events Managing Committee chairman,
Page 94 and 95: Travel Six places to visit in March
Page 96 and 97: Travel Dubai Dubai is a stunning to
Page 98 and 99: Travel News UAE minister addresses
Page 100 and 101: Sport as a Business Sport as a Busi
Page 102 and 103: Sport News UAE Kickboxing Champ Hab
Page 104 and 105: Tourism Dubai Surpasses Global and
Page 106 and 107: Tourism December 2022 consisted of
Page 108 and 109: Investing in Art Art as a Financial
Page 110 and 111: Global News JPMorgan CEO Warns Agai
Page 112 and 113: Wheels Maserati MC20 Cielo Cielo. I
Page 114 and 115: Investing in Tourism Ras Al Khaimah
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Page 118 and 119: Local News Dubai’s TECOM Misses P
Page 122: GROW YOUR BUSINESS We make Short /
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