In Founder Mode: Interview with Vasily Alexeev, CEO of UpTrader
UpTrader’s CEO since November 2015, Vasily Alexeev, has been a driving force behind the company’s innovation and success. With a shrewd strategic mindset, Vasily has played a pivotal role in making UpTrader a leader in the Forex CRM and trading solutions market. He is responsible for the strategy, operations, and profitability, among other areas of the company.
Previously, Vasily was the Chief Technical Officer at a 2007-founded Forex Broker company, where he was in charge of system implementation and technological strategy development. Beginning his professional career with Ittilan, a Gold-certified Microsoft Partner with a focus on enterprise solutions built on SharePoint, he made sure that client solutions were executed to the highest standard.
Vasily's leadership and deep understanding of technology are essential to UpTrader's expansion and dedication to offering innovative solutions.
In this article, the CEO offers an insider’s perspective on UpTrader’s growth as well as a strategic vision that guides the company’s future.
Can you tell what inspired you to start this company and how your vision evolved?
Vasily: “The impetus for starting this company came from seeing a clear demand for customized CRM solutions. In my previous job, we realized that many clients were interested in our in-house CRM solution, which led to four client projects. However, we soon saw that a more adaptable strategy was required. Our earlier solutions used to be too expensive, too customized, and took three to six months to install. This inspired us to create UpTrader, a brand-new, cutting-edge solution meant to tackle these problems head-on.
UpTrader ensures flexibility for all users by providing thorough business profiles and scalable operations. While our core vision remains firm, we distinguish ourselves from others, and focus on flexibility and user-centered design, offering only versatile, one-of-a-kind solutions.”
What are your company’s key strategic priorities for the next 5 years?
Vasily: “Well, although we have already implemented 90% of the extensive functionality we have planned for customers, our highest priority is to complete the remaining 10% of our product functionality to achieve a fully comprehensive solution. At the same time, our vision lies in making UpTrader an all-in-one solution, which would include trading platforms, new services, legal offerings, and other related options.”
And how exactly do you stay ahead of industry trends and ensure your company remains competitive?
Vasily: "I firmly believe that being proactive is necessary to stay ahead of the game. We make sure that our solutions stay at the forefront of technological advancements and compliant with the most recent industry standards by making constant investments in research and development.
But we also think that the greatest source of insightful and valuable information is customer feedback. So we actively engage with clients who offer ideas, suggestions and even trends. Also, we aim to attend workshops and conferences, where we gain news and updates from our partners and key industry players.”
What leadership principles do you think are most important in running a successful company like UpTrader?
Vasily: “UpTrader is a young IT company, with many team members under 25, and requires a focus on trust and accountability. By fostering an environment where team members feel trusted and valued, we increase their motivation and productivity. We emphasize clear communication of expectations and provide flexibility while maintaining oversight to ensure alignment with our objectives. As a result, this balance contributes to higher productivity and team cohesion.”
What has been your biggest challenge as CEO, and how have you overcome it?
Vasily: “One of the biggest challenges was in the beginning of the company when our expenses exceeded our revenues. Without access to investors, I made the difficult decision to make personnel changes and cut salaries, mine in the first place. This period lasted 3 - 6 months and was financially and psychologically difficult. But patience paid off as we attracted new customers, and it finally led to profitability by the end of the year. We also succeeded in bringing back a large number of team members!
This particular challenge pushed us to innovate and develop UpTrader. The end result was a system that was quicker to implement and more cost-effective. We are now pleased to be one of the select few, if not the only, businesses that can install a CRM system in a single day, a development that has significantly increased our productivity and competitive advantage.”
How is UpTrader different from other Forex CRM providers?
Vasily: "I am convinced that our dedication to usability and user experience (UX) makes us stand out from the competition. By providing a "UNIVERSAL SOLUTION WITH A HUMAN FACE," we guarantee that our user interfaces are adaptable and customized to meet their unique requirements. Our CRM allows for a great deal of customisation, allowing administrative procedures to be customized to our clients' specific requirements. Before we tailor our solutions to fit our customers' workflows and business processes using our CRM, we work closely with them to completely understand their specific demands.
In addition, we have had a significant impact on startups and innovative businesses, guiding them from inception to successful operations. Our CRM solutions have been instrumental in helping these clients build and grow their businesses, being used as the main tools and the support they need to succeed in a competitive market.”
What support do you provide to ensure customers can fully leverage the power of your CRM system?
Vasily: “We offer comprehensive support and training, including detailed documentation and 24/7 emergency support. Our onboarding process involves providing access to the service desk, where the customer journey begins.
I will surprise you with my frequent calls with the support team to help solve complex issues and make sure they are properly resolved. This approach ensures that our support team gets the attention and support they need, and as a result, our clients, Forex Brokers, can fully leverage the power of our CRM system.
Recently this mode of operation has been called "FOUNDER MODE", I believe it very much describes what we at UpTrader have.”
What advice would you give other CEOs to succeed in the IT industry?
Vasily: “Success in IT depends on having a clear strategy. Whether a company focuses on immediate benefits or expanding the customer base through a long-term exit strategy, it is important that revenue is managed and prioritized carefully. A balance of innovation, customer satisfaction and operational excellence is the key to continued success.”
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