This Man Excels at Leading Fintech Giants to Exponential Growth in APAC

Welcome to this edition of the Maven Club newsletter! Today, we bring you insights from Sandeep Krishnamani, a seasoned go-to-market (GTM) leader with over 20 years of experience in APAC. Sandeep has worked and held management positions across fintech and tech companies like MoneyHero Group, TransferMate, Concur and AMEX. He has gained rich experience in understanding the nuances of different markets and developing GTM strategies that account for regional complexities across the EU, US, and APAC. He shared lessons on localizing strategies, leveraging partnerships, and leading teams for success in APAC.

Localizing Go-to-Market Strategies in APAC

"Localization is not just about language; it’s about understanding the business culture, the regulatory landscape, and the nuances that drive decision-making in each country."

Sandeep emphasized the importance of localizing GTM strategies for the diverse APAC region. Many companies make the mistake of applying their global strategies without considering local nuances, which often leads to failure.

• Diverse Decision-Making Process: In APAC, decision-making varies widely. For instance, in Singapore and Hong Kong, decisions often involve multiple stakeholders due to risk aversion. On the other hand, in Indonesia, decisions can move quickly once you engage the right person. Sandeep recalled an example where, in Singapore, it took six months to close a deal due to multiple decision-makers, while a similar deal in Indonesia took only two months after reaching the right executive.

• Regulatory Complexity: Many APAC countries have strict regulations, particularly around data sovereignty. For example, in Indonesia, Sandeep encountered challenges where local regulations required all data to be stored within the country. This created complications for cloud-based solutions, leading to the need for partnerships with local data centers to ensure compliance.

• Cultural Awareness: Building relationships is critical in many APAC countries. Sandeep shared an experience in Phlippines, where the company initially struggled. They realized that business decisions heavily relied on personal relationships and trust. After investing time in relationship-building through regular meetings and networking, they were able to close a major deal that had been stalled for over a year.

The Role of Partnerships in Go-to-Market Success

"A strong partner ecosystem is your biggest asset in APAC. But choosing the right partners means evaluating not just what they can offer, but whether they have the capacity, commitment, and coverage to help you scale."

Partnerships are integral to success in APAC, where relationships and local expertise are crucial for scaling effectively.

• Enterprise Sales and Stakeholder Mapping: In enterprise sales, partnerships can help navigate complex stakeholder ecosystems. Sandeep emphasized the importance of stakeholder mapping—identifying decision-makers, influencers, and detractors. For example, when selling expense management systems to large conglomerates in Indonesia, they leveraged partnerships with local financial institutions to gain access to key decision-makers, significantly accelerating the sales process.

• B2B2C Partnerships: In emerging markets like Indonesia or the Philippines, local partners often have deeper insights into customer behaviour. Sandeep shared how partnerships with local comparison platforms and fintech influencers contributed to driving up to 50% of the business in the Philippines. In contrast, in more mature markets like Singapore, partner contributions plateaued at around 10-15%, as the company had already established direct customer channels.

• Selecting the Right Partners: Sandeep uses a 4C framework to evaluate potential partners:

  • Capability: Can the partner help you close deals? For example, in Indonesia, they partnered with a large accounting firm that had direct access to key decision-makers in the financial services industry.

  • Capacity: Does the partner have the resources to support you? In Hong Kong, Sandeep's team worked with a local IT services firm that, despite initial interest, did not have enough bandwidth to support their mutual customer needs, leading to a failed partnership.

  • Commitment: Is the partner invested in the relationship? In the ASEAN region, his previous company secured a partnership with a dedicated tech consulting firm resulting in a 30% increase in deal closures within that market.

  • Coverage: Does the partner have access to the right customer base? In Malaysia, Sandeep’s team partnered with a leading telecom provider, which had strong relationships with government clients—a critical sector for Sandeep’s previous company. 

Overcoming Go-to-Market Challenges

“You may have a great partnership on paper, but if the front-line teams aren’t enabled and motivated, it’s not going to work."

Executing a GTM strategy in APAC comes with several challenges, particularly around partnership execution and organizational alignment.

• Organizational Alignment: A common challenge is misalignment between leadership and execution teams. Often, senior leaders may agree on partnership goals, but operational teams are not fully engaged. Sandeep gave an example from Singapore, where a high-level partnership with a major bank faltered because the bank's operational teams were not properly enabled to support the solution. The issue was resolved by deploying a partner success team, which worked closely with the bank’s frontline staff to ensure they were fully trained and motivated to promote the product.

• Technology for Tracking and Attribution: Tracking partner performance and attributing sales is critical for success. Sandeep helped develop a partner portal that enabled partners to track the status of deals they contributed to, which helped prevent disputes over attribution. However, this level of tracking is still uncommon in many companies, leading to challenges in measuring partner effectiveness.

Sandeep shared an example where, without proper attribution mechanisms, a partner claimed credit for a deal that was actually driven by another partner’s referral. It took weeks to untangle the confusion, highlighting the need for transparent tracking systems.

Leadership Principles for Go-to-Market Success

"Relationships are everything. In many APAC countries, it's not just about closing a deal—it’s about building long-term trust. You can’t rush relationships here if you want sustainable success."

Sandeep’s leadership style is built around empathy, resilience, and relationship-building—key elements for success in APAC.

• Empathy: A successful leader must understand both the customer’s and the team’s needs. Sandeep recalled a situation in Singapore where his sales team was struggling with burnout due to long sales cycles. By stepping in to understand their challenges and providing additional resources, he helped reignite their motivation, leading to a 20% increase in productivity.

• Resilience and Adaptability: The APAC market is constantly evolving, requiring leaders to be adaptable. Sandeep shared an example from Malaysia, where sudden regulatory changes threatened a deal with a large insurance company. Instead of abandoning the project, his team worked closely with local legal experts to quickly adapt the product to meet the new requirements, saving the deal.

• Relationship Building: In many parts of APAC, relationships are the foundation of business success. Sandeep stressed that short-term gains should never come at the expense of long-term relationships. He recalled a situation in Vietnam where a competitor offered a lower price to steal a client. Instead of engaging in a price war, Sandeep’s team focused on deepening their relationship with the client, which ultimately led to a multi-year contract renewal.

Tools and Practices for Smooth Execution

"We learned the hard way in one case where a partnership stalled because the technical team wasn’t aligned with the business side. Cross-functional workshops and regular check-ins saved that partnership and led to a successful launch."

Sandeep outlined several tools and practices that have helped him execute successful GTM strategies across APAC.

• Technology for Managing Partnerships: Tools like Salesforce or HubSpot are essential for tracking deals and ensuring proper attribution for partners. The partner portal provided real-time updates on referred deals, ensuring transparency and fostering trust with partners.

• Partner Enablement and Engagement: Once a partnership is signed, it’s critical to engage and enable the partner’s operational teams. Sandeep emphasized the importance of regular training sessions and joint strategy meetings. For example, in Asia, they held monthly training sessions with a key partner’s sales team, which helped align their messaging and improved deal closure rates by 25%.

• Focus on Alignment Across Stakeholders: For a partnership to succeed, all stakeholders must be aligned. Sandeep shared a story from the Philippines, where a partnership with a local fintech company stalled because the company’s technical team was not aligned with their business development team. By conducting cross-functional workshops, they were able to get everyone on the same page, leading to a successful product launch.

Navigating APAC’s diverse and complex markets requires a localized, relationship-driven approach. Partnerships are essential for scaling in both B2B and B2B2C contexts, but success depends on aligning teams, enabling partners, and building long-term relationships. Sandeep’s insights provide a roadmap for any company looking to expand in the region. By fostering strong relationships, empowering teams, and staying adaptable, companies can unlock significant growth in APAC.

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