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Henry Tan, ISCA member and Managing Director at Nexia TS Public Accounting Corporation and Chairman of Nexia China, discussed about the ‘Uberisation’ of professional services held recently on 26 May 2016 at the Think Big Leadership Business Series 2016, organised by The Business Times and Canon.
Despite being relatively shielded from disruptive forces, law and accounting firms would do well to plan ahead for leaner times by being more flexible, collaborative and specialised, say experts at a recent high-power panel of experts. The challenge is to be more efficient as margins erode with the “Uberisation” of professional services, and when technology offers cheaper alternatives for corporate customers and consumers in future, they point out.
In the face of today’s onset of disruptive technology, traditional business methods and practices may have to change in order to be the frontrunner. As such, Henry Tan shares his perspectives on embracing change in order to stay ahead:
“Uberisation basically is a method to solve the inefficient allocation of resources in the market place today. In order to stay ahead of the curve, the takeaway is that, we must not stay static – by always being on the lookout for what’s on the horizon, being the first to innovate and making strategic investments in people and businesses.”
Henry Tan, Managing Director, Nexia TS
About Think Big Leadership Business Series 2016:
The Think Big Leadership Business Series 2016, organised by The Business Times (BT) and Canon, is supported by the Institute of Singapore Chartered Accountants (ISCA) and the Law Society of Singapore. The panel discussion, which is moderated by Rajah & Tann Managing Partner Lee Eng Beng, will seek to draw opinions from the panel of specialists, which includes Nexia TS Public Accounting Corporation Managing Director Henry Tan. Canon is the key enterprise partner for the Think Big Leadership Event.
For more information, visit www.businesstimes.com.sg/technology/uberisation-of-professional-services-brings-challenges-and-opportunities
About Nexia TS:
Nexia TS was founded in 1993 by two experienced chartered accountants – Henry Tan and Sitoh Yih Pin. After working as managers for one of the international accounting firms, they saw a vision and an opportunity to establish their own organisation – not any accounting firm – but one which is unique in their personalised and well-qualified expertise.
To date, Nexia TS is recognised as an established mid-tier local accounting firm. We have grown significantly in size over the years. Being an independent member firm of Nexia International, we are affiliated to accounting firms in many parts of the world. This means that our clients will get to enjoy personalised, comprehensive and quality services at competitive rates in Singapore and globally. Our reputation for quality has been recognised by clients and accounting professionals. As testimony to this, we are among the first few local accounting firms to be accredited by the Institute of Chartered Accountants in Australia to provide supervision of professionals undergoing traineeship to qualify as Chartered Accountants.
Headquartered in Singapore, Nexia TS has established a strong presence in various countries across the region. Nexia China is a one-stop centre providing advisory services for foreign-invested enterprises in China. NTS Malaysia and NTS Myanmar provide a full suite of corporate advisory services for our clientele with operations and new foreign investments in the respective countries. Nexia International is an international network of accounting and consulting firms with origins going back to 1971, making Nexia International one of the longest established networks. Currently, with more than 24,000 professional staff serving our clients at over 570 offices in 120 countries, it is ranked as the top 10 largest international accounting and consulting network.
For more details, please visit www.nexiats.com.sg.
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Nexia TS is a member firm of the “Nexia International” network. Nexia International Limited does not deliver services in its own name or otherwise. Nexia International Limited and the member firms of the Nexia International network (including those members which trade under a name which includes the word NEXIA) are not part of a worldwide partnership. Nexia International Limited does not accept any responsibility for the commission of any act, or omission to act by, or the liabilities of, any of its members. Each member firm within the Nexia International network is a separate legal entity.