Faisal Jeddy is the key driver of strategic initiatives at Systems Limited, playing a pivotal role in steering the company toward sustained global growth and success. Drawing on his extensive experience of living and working in Silicon Valley for 23 years, where he contributed to the success of leading tech companies, Faisal has developed deep expertise in leading transformational projects across various sectors. As the Global Chief Strategy Officer, he is now back in Pakistan and is an integral part of the leadership team, shaping the company’s strategic direction, identifying new opportunities, and forging partnerships that ensure continued innovation and competitiveness across Systems Limited and its sister companies; Visionet, and PartnerLinQ.
Following are the edited excerpts of a recent conversation BR Research had with him:
BR Research: Can you tell us about your background and career journey?
Faisal Jeddy: I was born and raised in Lahore, where I completed my chartered accountancy. In 2001, I moved to the United States and joined BDO, a major accounting firm in California. Over 23 years, I rose through the ranks to become a partner and eventually led the entire West Region of BDO.
I firmly believe that Pakistan greatly benefits from educated professionals who return after gaining experience abroad. Often, we hear about the brain drain—the number of people leaving the country—but rarely do we hear about those who come back to contribute. Though the number is small, the impact of these returnees is profound. My primary motivation for returning to Pakistan was to serve my country, bringing with me the knowledge and experience I gained in the US.
BRR: As the Global Chief Strategy Officer, what is your role at Systems Limited?
FJ: My role is to position both Systems Limited and our sister company in the US, Visionet, for further global expansion. We’ve had significant success over the past 6-7 years, particularly in the Middle East, the US, and Europe. However, there are structural limitations we need to overcome to broaden our reach. As Global Chief Strategy Officer for both companies, my focus is on global mergers and acquisitions (M&A) to drive expansion and growth.
When we went public in 2014, our revenue was $18 million, with $9 million coming from the US. By 2023, our revenue had grown to $191 million, with 85 percent generated from outside Pakistan—50 percent from the Middle East and 50 percent from the US—while only 15 percent came from within Pakistan. This represents remarkable growth in just nine years. My job is to ensure we continue to sustain and build on this momentum.
BRR: Can you discuss how your services and solutions cater to various sectors under Systems Limited and Visionet?
FJ: Our service offerings are quite similar across both companies, but the regions we focus on are distinct. Visionet primarily serves the US, Canada, and Europe, while Systems Limited focuses on Pakistan, the Middle East, and the APAC region. Additionally, Systems often handles offshore work for Visionet when it secures clients in the US, so Visionet’s growth directly contributes to Systems’ success as well.
BRR: Systems Limited consistently ranks among the top-performing companies in the stock market. What strategies have contributed to this sustained performance?
FJ: One key factor, as our CEO Asif Peer often points out, is that we are not afraid to take risks. When we went public in 2014, we weren’t the largest IT company in the country. Instead of just focusing on the US market, which many IT companies were doing and still are, we chose to expand into new regions. We entered the Middle East at a time when many questioned that move, but it paid off by driving our topline growth, with solid margins as well. Today, the Middle East plays a major role in our revenue stream, and now we’re making similar moves into the APAC region. Taking calculated risks, rather than staying in our comfort zone, sets us apart from others.
Another reason for our success is that since our founding in 1977, our leadership has always been merit-based. We’ve built the company by attracting the best talent and empowering them to make key decisions. Employee ownership is intrinsic to our culture and is a significant factor in what makes us unique.
Many other large IT companies tend to focus on IT consultancy or target very niche markets in specific geographies. By contrast, Systems has developed numerous competencies over the past 5-7 years and plans to expand further. Industry-wise, we’re strong in sectors like retail, manufacturing, banking, and telecommunications, and we’re continuously working to broaden that scope.
We have also recently been awarded the Forbes Asia’s Best Under a Billion 2024 award for the fifth consecutive year, which has further solidified our status as a leader in the industry.
BRR: How do you remain competitive globally amid competition from international players?
FJ: Our performance and growth in Pakistan have been phenomenal. However, on the global front, we still see significant opportunities for expansion, with plenty of room to grow. Despite this, we have been able to secure a considerable amount of work from the US, Europe, the Middle East, and now the APAC markets. This success is largely due to the strong brand we’ve built, offering world-class services at price points that are highly attractive to our clients.
A key competitive advantage is the cost savings we can provide. For example, when a typical American company offshores work to Pakistan through a BPO model, they can save up to 70 percent in costs. Even if that company was previously offshoring to another country, such as India, we can still offer an additional 30 percent savings when they switch to us. This is a significant advantage, and it stems from Pakistan’s lower operational costs compared to some of our neighboring countries—without any compromise on quality.
While it’s easy to focus on the challenges Pakistan faces, we must also recognize the vast untapped potential here. Despite the obstacles, the opportunities for growth are immense, and we are well-positioned to capitalize on them.
BRR: How do you see the current state of Pakistan’s IT industry, and what are the key factors contributing to its growth? How do you foresee the IT services industry evolving in the next five years?
FJ: Pakistan currently has around 10,000 IT consulting firms, many of which focus on the local market, while others are securing clients from abroad. The potential for growth in the IT sector is immense, particularly for companies that are forward-thinking and proactive about what’s coming next. The key to driving growth lies in embracing cutting-edge technologies.
At our company, we believe that emerging technologies like AI, generative AI, big data, and large language models (LLMs) are not just buzzwords; they are actively transforming many of our clients’ businesses. To remain competitive and thrive, both we and other IT companies in Pakistan must stay at the forefront of this tech revolution. Companies that fail to keep pace with these advancements risk falling behind, while those that invest in upskilling their teams and integrating new technologies into their operations—both internally and externally—will position themselves for success.
The IT services industry over the next five years will likely be shaped by how well companies adapt to these innovations. The firms that embrace AI and emerging technologies will lead the charge, while others may struggle to keep up.
BRR: What kind of training programs do you offer or plan to offer at Systems Limited?
FJ: Pakistan produces some of the best talent globally, but to stay ahead of the curve, we must continuously upskill our workforce. This is a key focus within our company. Systems typically hires over 1,000 people annually, and we are deeply committed to consistently training and upskilling our employees.
We invest substantial time and resources into bringing in interns, whom we aim to inspire, motivate, and prepare for successful careers in IT. Once hired, all new graduates undergo a rigorous, paid training program to ensure they are equipped with the necessary skills to thrive in the industry.
One of our flagship initiatives is the SysGenius program, which is designed to empower young minds with the potential to become disruptive innovators in the tech industry. The program aims to nurture creative ideas into tangible innovations that will leave a lasting impact on the industry. While we continue to recruit top graduates from leading universities, we believe it’s equally important to tap into the talent pool from smaller cities and lesser-known institutions. Ignoring this segment would be a disservice to us and the country.
Through SysGenius, we actively seek out students from a wide range of disciplines—such as Engineering, Social Sciences, Humanities, Business, Commerce, Arts, and Law—and from schools and cities that larger companies typically overlook. The application process involves cognitive tests, personality assessments, and individual interviews to carefully select candidates. Those chosen to embark on a comprehensive six-month training program, and upon completion, they will play key roles in driving Systems Limited’s journey of disruptive innovation. These graduates will serve as catalysts for future advancements in Pakistan’s IT sector.
BRR: Given your experience in Silicon Valley, how do you view Pakistan’s startup ecosystem as a destination for investor interest?
FJ: Silicon Valley is a powerhouse, with venture capital (VC) investment levels far exceeding the combined investment of all other US metropolitan areas. That’s a massive scale, and most Silicon Valley VCs tend to focus their investments locally, as they have ample opportunities within their own networks and neighborhoods. However, what many people may not realize is that there are several Pakistani investors who are thriving in Silicon Valley. For example, the main partner of one of the largest VC firms there is of Pakistani origin. Similarly, there are VCs in the Valley actively working to bring Pakistan onto the global investment map.
Pakistanis have made significant strides in various industries in the US. The executive overseeing $6 billion in revenue at Marvell Technology, Inc., one of the largest semiconductor companies in the world, is Pakistani. The head of the entire engineering team at Western Digital, a major data storage company, is also Pakistani. Additionally, a businessman in Boston has not only started but successfully taken public two unicorn companies. These are powerful success stories, but they often go unnoticed because the numbers are small, and global VC funding has been declining recently. Nevertheless, I believe it’s only a matter of time before we see more Pakistanis at the helm of these major companies.
Investor interest in Pakistan’s startup ecosystem is still very much alive because the opportunities here are significant. That said, while government support can be beneficial, we must be proactive in tackling our challenges. In California, the key to success has been that people don’t wait for the government to act—they solve problems themselves. I believe the same approach should apply to Pakistan’s IT landscape. We need to take ownership of our challenges and drive solutions independently as much as possible.