Developing corporate culture isn’t something one can take for granted. Businesses that try to live up to the “ideal” set of values or benefits, or those that try to match the demands of a particular market, fail if they do not build those values from the ground up.
Throughout the storied career of Firoz Patel, this single truth has held consistent. As Executive Vice President at Payza, Patel instilled an appreciation of the international community into the corporate culture of Payza. Firoz envisions a world without borders.
For Firoz, the practical manifestation of this ideal is the “digital economy” – the new method of doing business that brings commerce to a truly global level. For many of us, the digital marketplace is ingrained in our lives. In just a few short years, we’ve gone from being nervous about paying over the Internet to entrusting our financial information to multiple sellers. We often take this digital marketplace for granted, but remote and rural areas (especially from within emerging countries), e-commerce is still a fledgling market running on developing technology.
Regardless, the online market is having a global impact on trade and employment, even in regions that lack the connectivity of more developed countries. The digital economy levels the playing field, promotes global competition and creates opportunity for small business to match the demands of niche markets from around the world. In this new economy, workforces that used to be isolated now have a chance to compete in the global marketplace.
A World Without Borders
This culture of inclusion is what Firoz Patel has fostered. At Payza, Firozz has built a culture that encourages economic inclusion without borders. For Firoz, the values and priorities of his company must be in line with the people it serves. Simply put, cross-border economic inclusion is at the top of pyramid of values built on understanding the many circumstances Payza’s customers may find themselves in. Today’s financial technology is affordable, mature and full of opportunity. That means everyone, regardless of location, has a shot at impacting the global economy.
The digital economy has been developing for decades and few companies exist today without an e-commerce platform. People have access to the Web nearly everywhere they go, and that mobility, cloud computing, business intelligence and social media is fueling an industrial transformation with the potential to reshape the global marketplace.
Emerging companies in this space have to reduce their reliance on rigid policies and traditional business practices. The new global digital economy is moving toward a more organic, market-like state that closely emulates the Internet itself.
Firoz Patel has built the corporate culture of Payza around transforming, rather than resisting reform as large banks have done. It’s possible, within the next few years, that the developing world will become an even greater player in the world stage. Businesses in these developing regions are adopting the same practices used by major players from around the world. This is great news for the consumer, who will find him or herself in the midst of all this change and ready to reap the rewards.
It’s true that there are still differences around the world when it comes to currency, culture, communication and regulation, but businesses are discovering that the challenges are worth the effort. New markets are emerging in this global marketplace, and businesses are finding the means to service billions of potential new customers. In order for this new world to become reality, we’ll need modern and forward-thinking corporate cultures that embrace these emerging marketplaces and make them a priority within the industry.
Firoz Patel has developed a wealth of experience in the management of corporate culture throughout his career founding AlertPay Inc. and overseeing operations for the Payza platform. Sharing unparalleled expertise, Firoz has built his career around helping multiple businesses foster a culture beneficial to their long-term growth and goals. Visit www.firozpatel.com, where you will find more information about Firoz Patel and the management of corporate culture.