I would say, why do I need to leverage digital technologies? That's not a conversation you need to answer anymore. It's more about where will I have the most impact for using these technologies. I'm Alex Khan, Global Head of Content for Publicis Sapient. I'm here with Priya Bajoria, who is Senior Vice President of Financial Services.
Thank you, Alex, for having me. And these Pisces friends actually survived COVID. Isn't that fantastic?
They did. They did. It was great. They are still here alive and swimming. So Priya, first question for you. Do you think that it's possible for financial services institutions to both make money and also make the world a better place?
I totally subscribe to that. One of the most interesting use cases of digital is just around democratizing the access to information and financial education information to that extent. And ultimately, financial equity leads to financial independence. That helps with reducing the barriers that we have in the society today.
Digital business transformation, whether it's in financial services or in another industry, what do you think that most companies actually get wrong?
In my experience, what I've seen is if there is an innovative technology out there, let's take the example of cloud computing. If firms decide to implement it because it is a new technology that they want to use without really assessing the overall strategy, what is it that they are trying to solve leveraging that technology? I think that's the part that can go really wrong because then you've invested a lot of money without realizing the benefits from it. And which is why we always advise our clients to look at what is the problem that you're trying to solve at the end of this? What is the metric for success? And are we aligned on both sides that we have the right team in place to be able to deliver that?
The change management part of digital business transformation seems like one of the biggest challenges is in oftentimes the people that we're directly speaking to understand the need to digitally transform, but it's a whole other thing to then go and convince their stakeholders about the need to go and do something. So I'm curious if you've had any practical tips that you've picked up along the way in order to arm other people with the tools they need to convince their stakeholders about DBT.
One of the techniques that has been really helpful is the whole design thinking and identifying what is it that the problem that they are looking to solve and not getting into solution mode right away, but looking at the desirability, the feasibility, and the viability of all the options out there. A lot of times pre-COVID, it was a bigger conversation with clients. It was a harder conversation to have to convince them why you needed to transform yourselves leveraging digital. I would say, why do I need to leverage digital technologies? That's not a conversation you need to answer anymore. It's more about where will I have the most impact for using these technologies?
So what was the scariest thing that ever happened during a client engagement? I'm curious how you overcame it.
Not so long ago, when we were in the middle of the great resignation, two days before we were supposed to start a client engagement, two of my most critical team members resigned on the same day. And I had to go and speak to the client about that. So that was very scary because this was a very big initiative for the client, for Sapient servicing them. And I'm glad I had that open conversation because again, as I mentioned, this is how trust is built. We decided to take a step back on one of the tracks. We started on something else. And then again, the power of Sapient came to my rescue where we were able to identify new team leaders who came on board and helped us start the engagement on time. But it was very scary because picking up the phone and calling the client that day, I wasn't sure what the outcome was going to be.
Has that been something that's changed for you over your career? Have you gotten better at those sorts of conversations?
We actually, believe it or not, we come to that decision a lot in our conversations because as trusted partners for your clients, sometimes you have to be the first to give them information that they were not expecting. It could be something around a business case that we originally thought was possible. And then based on the engagement, they are not going to get similar returns or we have to take a pivot in the approach that we were looking to make. And to go and deliver bad news to the clients, when it could mean that you don't get the consulting fees that you were expecting, that they may need to terminate the project, that's sometimes a very hard decision to make. But you have to make that because eventually it plays out. The underpinning of any consultant is the trusted relationships that you have that stay with you throughout your career. And I think it's being in the hot seat, talking to your clients and making some of those tough decisions, that's what helps you build that credibility of trust and ongoing relationships.
So when you are recruiting someone to come work here at Publicis Sapient, what are some of the things that you talk to them about as a reason to join our organization?
The same reasons why I joined Sapient, which were the focus on digital business transformation, the ability to make an impact, the promise that no two engagements will be the same, but we will have the best team and the best tools made available for you to create that impact with the client. You are an entrepreneur inside of Publicis Sapient. As long as you are looking to solve a client problem, you have the resources of the organization available to you to use as you please.
You've convinced me. Thank you, Priya. This was great.
Thank you, Alex, for having me.