Anjana Mistry: Emergn CFO & COO, and a member of Harvard Business Review Advisory Council, demonstrating the passion for numbers and global leadership
The 10 Dynamic COOs Driving Innovation and Growth in 2024
An accomplished Certified Accountant (FCCA), Anj Mistry is the Chief Finance & Operations Officer at Emergn, and a commercial leader with over 30 years of experience in guiding and advising global IT corporations through intricate commercial transactions.
From a young age, Anj’s love for numbers set the foundation for her career in finance. She recalls her ability to perform complex formulas in her head during primary school, a skill that evolved when she received her first Casio scientific calculator in secondary school. This tool sparked her interest in analyzing data from different perspectives, uncovering the stories behind the numbers, and predicting future trends. For Anj, finance is not just about numbers—it’s about understanding the narrative they tell, both of past performance and future possibilities.
Anj has honed her expertise in delivering exceptional business results within environments characterized by constant change, complex organizational structures, and diverse cultural landscapes across the US, Europe, the Middle East, Africa, South America, and Asia.
Her extensive experience in managing multiple business units across diverse geographical regions has made her an expert in navigating the complexities of global finance. Anj’s ability to lead finance teams through periods of significant change, coupled with her deep understanding of different markets and cultures, has been instrumental in driving the success of the organizations she has served.
At Emergn, Anj plays a pivotal role in shaping the company’s financial strategy and operational efficiency, ensuring that the organization remains agile and competitive in a rapidly evolving industry. Her leadership is characterized by a keen focus on data-driven decision-making and a commitment to fostering a culture of innovation and continuous improvement.
Leading Through Complexity
Anj reflects on her career with a deep sense of gratitude for the opportunities she had to live and work in various countries, both mature and emerging. Each location presented its unique challenges in driving financial and operational excellence. In mature markets, where processes were already well-established, the focus was on refining these systems, shifting metrics, and leveraging data in new ways to meet evolving business needs. In contrast, emerging markets required a different approach—building a stable foundation of data and processes that would empower teams eager to learn and grow.
Three pivotal moments in her career stand out as defining experiences:
- IBM (Growth Markets) and Management Systems: One of Anj’s early achievements was leading the effort to define, build, operationalize, and eventually automate IBM’s key metrics and management systems. This project spanned AP, Eastern Europe, the Middle East, Baltics and Africa, covering multiple lines of business and over 15 industries. The challenge was not just in gathering the data but in ensuring its quality and making it accessible across a complex matrix organization. The real value came from interpreting the numbers—turning data into actionable insights that enabled informed decision-making at every level of the company.
- Transforming Operations in India: During her tenure in India, Anj tackled the challenge of aligning local regulatory and compliance requirements with global corporate standards. Managing operations that interacted with nearly 100 countries, she likened the experience to “transforming while the train was still moving.” Achieving buy-in from corporate functions was crucial, as the transformation impacted everyone. Anj insisted that each workstream be led by someone in India to foster ownership and pride in the process. The success of this transformation was most evident on March 31, when the new systems were switched over with a remarkable 98% accuracy—an impressive feat, especially given the looming challenges of Y2K and her concurrent role as CFO for Global Missions.
- Navigating the Ukraine Crisis: In 2022, Anj faced one of the most unexpected and challenging situations of her career when Russia’s invasion of Ukraine disrupted industries and millions of lives, including many in the IT sector where Emergn operates. The company had to respond to a myriad of issues with little notice. Anj describes the experience as akin to “drinking through a firehose,” with the volume and pressure of the situation being overwhelming. However, with a strong team and a methodical approach, they navigated the crisis. Their response was grounded in empathy and care, first ensuring that colleagues were supported and then implementing new policies to address relocation, compensation, and the winding down of operations in Russia, all while continuing to support their teams in Ukraine—a commitment that remains strong today.
Through these experiences, Anj has demonstrated her ability to lead through complex and high-pressure situations, always with a focus on practical wisdom, strategic decision-making, and the well-being of her teams. These qualities have not only driven success in her roles but have also shaped her approach to leadership in the ever-evolving landscape of global finance.
Redefining Value and Innovation in Digital Services
Anj highlights the unique journey of Emergn, a company founded in 2009 by CEO Alex Adamopoulos with a vision to create a non-traditional digital services company. Unlike many established service providers, Emergn was built on the principle of creating greater value for clients rather than charging exorbitant fees. This commitment to client value has been a cornerstone of Emergn’s success over the past 15 years, enabling the company to make a significant impact in the business and technology landscape.
Central to Emergn’s differentiation is a concept known as VFQ, which stands for three key outcomes that clients consistently seek: more value, better and smarter workflow, and higher levels of quality. Anj explains that VFQ is much more than just a methodology—it’s the foundation of Emergn’s approach and the reason why so many global brands choose to work with them.
VFQ is understood in three critical ways:
- A Framework: VFQ is a flexible framework rather than a rigid methodology. This allows organizations to introduce new thinking and practices without discarding their existing investments. It supports the integration of innovative strategies and processes, adapting to the specific needs of each client.
- A Philosophy: VFQ embodies a philosophy that integrates principles from agile, lean, design thinking, systems thinking, and psychology. This holistic approach enables organizations to leverage the best methods in the market while simultaneously fostering a positive culture and mindset within their teams. It encourages continuous improvement and adaptability, which are essential in today’s fast-paced business environment.
- A Foundation: VFQ serves as the foundational support for a company’s ongoing change and transformation programs. It addresses the common issue of “transformation fatigue” by providing a sustainable, long-term approach to change management. This foundation ensures that companies can evolve and adapt without the need for constant overhauls, making transformation a more manageable and less daunting process.
By utilizing VFQ as a guiding lens, Emergn offers a distinct set of services to its clients:
- Consulting (We Think): Emergn provides expert consulting services, helping clients to think strategically about their business challenges and opportunities. This service is designed to introduce new perspectives and innovative solutions that align with the client’s goals and needs.
- Learning (We Train): Recognizing the importance of continuous learning, Emergn offers training programs that equip organizations with the knowledge and skills needed to thrive in a rapidly changing business environment. These programs are tailored to enhance both individual and organizational capabilities.
- Engineering (We Build): Emergn’s engineering services focus on building the necessary technological solutions that drive business success. Whether it’s developing new software, improving existing systems, or implementing advanced technologies, Emergn’s engineering expertise ensures that clients receive high-quality, reliable solutions.
From Anj’s view, VFQ is at the heart of everything Emergn does, providing a comprehensive and adaptable approach that supports clients in achieving their most important outcomes. Through this lens, Emergn continues to help companies solve complex business and technology problems, all while delivering exceptional value and avoiding the pitfalls of traditional service models.
Focusing on Client Empowerment
Anj emphasizes that Emergn’s agility and responsiveness to market dynamics are driven by a steadfast focus on client needs rather than merely pushing their own offerings. She acknowledges that the rapid pace of change can be challenging, and to navigate this, Emergn adopts a counterintuitive strategy: slowing down to go faster. This approach involves taking the time to deeply understand client challenges and tailoring solutions that truly address those needs, rather than rushing to deliver off-the-shelf products.
A key aspect of Emergn’s strategy is empowering clients by placing control back into their hands. Anj explains that instead of replacing client teams with Emergn’s own personnel, the company focuses on equipping clients with the skills and knowledge necessary to carry their work forward independently. This approach ensures that clients are not just passive recipients of services but are actively engaged in the learning and application of new practices. Whether it’s through consulting, training, or working alongside Emergn’s software engineering teams, the goal is always to enhance the client’s capability to sustain and accelerate their own development efforts.
Anj also highlights the importance of balancing the classic business pyramid of people, process, and technology, with a distinct emphasis on the “people” component. While process and technology are crucial, Emergn believes that the true drivers of success are the individuals within the organization. By prioritizing the development and empowerment of people, Emergn ensures that its clients are not only equipped to handle current challenges but are also prepared to adapt to future changes in the market.
Data-Driven Excellence
Anj highlights that Emergn’s data-driven approach is central to its success and operational excellence. The company has strategically invested in developing systems that provide essential data, enabling them to run a profitable and predictable business. This investment in data infrastructure ensures that Emergn not only monitors its own performance but also helps clients achieve similar levels of insight and confidence in their change programs.
When working with clients, Emergn excels at teaching them how to identify and measure the most critical metrics. Anj points out that understanding what to measure is crucial for clients to confidently assess the effectiveness of their investments. By guiding clients through this process, Emergn ensures that the data they collect leads to meaningful insights, driving informed decisions that align with their strategic goals.
At Emergn, the principle of being data-driven goes beyond simply collecting and analyzing information. Anj emphasizes that data must lead to action. For Emergn, the true value of data lies in its ability to prompt necessary changes and improvements, making the organization smarter and more responsive rather than just informed. This proactive approach to data ensures that Emergn continuously adapts and evolves, staying ahead of the curve in a dynamic business environment.
Bridging the Skills Gap
Through her roles as CFO and COO, Anj has identified a pressing issue: the accelerating pace of technological advancements is outstripping employees’ ability to adapt and acquire the necessary skills. “I’ve seen this film before,” she notes, “where new technology is introduced and purchased, but its full potential remains unrealized because the individuals tasked with leveraging it lack the requisite skills.” This challenge extends beyond simply acquiring new tools; it encompasses understanding the entire process, lifecycle, and success metrics associated with these innovations.
Addressing this gap is where VFQ has proven invaluable for companies. VFQ is not just another learning and development investment; it is a work-based learning platform designed to enhance skill adoption and refine thinking around processes and technology. Recognizing the urgent need for such solutions, Anj’s team recently launched a B2C version of their VFQ platform, named Praxis By Emergn. This new offering allows individuals to gain best-in-class product management skills affordably, providing access to the same advanced learning and tools utilized by hundreds of global companies.
Anj expresses enthusiasm for Praxis by Emergn, highlighting its role in advancing the mission and vision of Emergn. “Whether it’s AI or another groundbreaking technology, the necessity for continuous, applicable learning remains a constant,” she asserts. The trend of needing real-time, practical learning solutions is not fading; it is becoming increasingly critical as the technological landscape evolves.
Leadership Philosophy
Anj prioritizes candor as a fundamental principle in her leadership approach. She believes that presenting the facts, rather than just opinions, is crucial for effectively addressing organizational challenges and achieving results. This transparency is particularly important in her multifaceted roles encompassing finance, operations, HR, global services, and talent acquisition, where managing a diverse population with varying needs requires a straightforward approach.
One of the aspects Anj values most about Emergn is the ethos encapsulated in the company’s guiding framework, known as the Emergn Way. Developed by the CEO, the Emergn Way is built on three core principles:
- We care for and invest in people.
- We are deliberate in delighting our customers.
- We bring new perspectives in getting better results.
When these principles are complemented by empathy, humility, and a commitment to continuous improvement, they profoundly influence the company’s culture and effectiveness. Anj emphasizes that this approach fosters a positive and productive environment, driving meaningful results and enhancing the overall organizational experience.
Anj reflects that her time with Emergn has been the pinnacle of her career. “It represents the culmination of years of hard work and experience,” she shares. “I truly enjoy coming to work each day, rather than feeling it’s a necessity.” She values the opportunity to collaborate with people she admires and respects, witnessing the significant impact Emergn has on some of he world’s largest companies. The role’s responsibilities and her leadership contributions are deeply humbling. “Saying I’m so proud to be here doesn’t quite capture it,” she admits.
Balancing Precision with Human Connection in Remote Work
Anj and her team are committed to efficiency in communication, emphasizing the importance of deliberate and intentional meetings. “In the world of remote work, it’s crucial to keep calls short and to the point,” Anj explains. She underscores the need for attendees to come prepared, ensuring that meeting time is spent on actionable discussions rather than reviewing basics that should already be known. Despite this focus on efficiency, Anj values the human aspect of work, reminding her team not to forget the importance of humor and personal connection.
According to Anj, the true strength of the organization lies in its team and their efficiency. “Future success will hinge on the continuous refinement and shaping of our teams,” she asserts. While technology plays a significant role, Anj acknowledges that the essence of effective management often goes beyond high-tech solutions. “Most of us remember managing large companies with just a spreadsheet,” she notes. “Ultimately, it always comes back to your people and how you care for them. As the old saying goes, people don’t care how much you know unless they know how much you care.”
Perspective on Work-Life Integration
Anj views work-life balance as a concept often misunderstood, preferring the term “work-life integration” to better capture the reality of modern work. “Living in a digital world where people can reach you at any time requires setting clear parameters to maintain your sanity,” she explains. In senior roles, the challenge is balancing the need for accessibility with the desire to switch off.
For Anj, achieving this balance involves recognizing when to say no or to defer tasks. “It’s about setting boundaries and knowing when to prioritize your well-being,” she asserts. Despite the demands of high-level positions, she emphasizes the importance of integrating work and personal life in a way that preserves both productivity and mental health.
Key Principles for Aspiring Finance and Operations Leaders
Reflecting on the evolving role of finance, particularly within global IT corporations, Anj observes that the industry often carries a stereotypical image of the CFO or top finance executive. This role is frequently viewed as restrictive or even negative—the person who says “no” and halts progress. However, Anj emphasizes that the reality is quite different. The finance function has transformed significantly over the years, evolving into a trusted advisor role. Today’s finance leaders are not just guardians of the company’s financial health but are also the bearers of practical wisdom. They provide invaluable alternate perspectives that enable organizations to make informed, strategic decisions. By balancing risk management with the pursuit of growth opportunities, finance professionals play a crucial role in bringing visionary ideas to fruition, thus driving the company forward.
For aspiring finance and operations professionals aiming to drive significant business transformation, Anj offers the following advice:
- Don’t take anything for granted: Understanding the details of your role and beyond is crucial. “The devil isn’t in the details—you’re in the details. Ensure you know them thoroughly,” she advises.
- Understand the broader business context: Go beyond just knowing your job. “Get to know what the company does, and not just what your job is,” Anj suggests. Aligning with the company’s vision and mission is essential for genuine engagement and success.
- Adopt a ‘no surprises’ mindset: Over-communication is key. “Especially when you’re unsure, it’s vital to communicate thoroughly,” she stresses. Don’t assume others have the same information. If others are surprised due to a lack of communication, it can negatively impact the entire business.
By integrating these principles, professionals can better position themselves to make a meaningful impact and foster effective business transformation.
To know more, please visit: https://www.emergn.com/