SBR welcomes Henry SK Tan as one of its judges for the TEA awards 2021

This year’s nomination entries, according to Nexia TS group CEO, are quality companies that further distinguish Singapore as a Technology Hub in the world.

Henry Tan is the group CEO at Nexia TS Public Accounting Corporation and Chairman of Nexia TS Shanghai that serves clients in the areas of mergers and acquisitions (M&A), accounting and taxation advisory in Singapore and the ASEAN region. He was previously the Asia Pacific Chairman and International Board member of Nexia International.

As the Group CEO and Chief Innovation Officer, Henry manages the firm and grows its footprint from a two-men vision to a major player in the market. He has assisted companies, especially entrepreneurs since 1993 to grow their business to an IPO in Singapore, London and Hongkong exchange. Moreover, he has assisted businesses in Asia through M&A, accounting and other advisories.

He has many years of experience in the China market, helping companies expand their businesses abroad. He also sits on the board of several listed companies and advisory to a German company expansion into seven countries in Asia. He started the process of moving the firm into digitalisation as early as 2013 and the use of technology tools to increase efficiency.

Henry is one of this year’s judges at SBR Technology Excellence Awards. He recently sat down with us and shared some of his viewpoints about how the pandemic has paved the way for digital transformation; why there’s a shift in prioritising business competencies with workforce resiliency, and why the human element remains the key to successfully enjoying the benefits of technology.

Crisis presents opportunities for businesses, even during the COVID-19 pandemic. What do you think are these opportunities, and how will they shape technology and/or digitisation in the future?

The pandemic has caused many businesses and individuals to rethink the way we work; adapting to changes—thus paving way for innovation and pushing ahead with digital transformation. It created the opportunity to relook business planning and accelerated change to meet the changing needs of their customers. Leaders must be equipped with the necessary skills to grasp any new opportunities arising while balancing transformation goals, upskilling workers and sustainability.

Transitioning to a digitised company is challenging, especially during this time. What would your advice be to companies that are just starting their digital transformation journey?

A lot of businesses were made to jump into the technology bandwagon since the start of the pandemic resulting in some grappling with the pivot. Now, we rely on connectivity to do business more than ever. Digital transformation can be a daunting task if not for the right approach to see long-term success. Outline a well-thought-out plan that focuses on costs, risks mitigation and understand the applicability in your organisation to adapt. Digital transformation is no longer an option for businesses today to ignore if they want to stay in the game.

Which do you think is more important when it comes to introducing new technology in a company? The hardware and software? Or human beings who can easily adapt--and have the necessary skills or talents--to go with these changes?

There is no doubt that technological innovation is important to increase business efficiency and capacity; however, the human element remains the key to success to reap the benefits of technology. COVID-19 has changed the way key executives prioritised business competencies with workforce resiliency being the least critical.

The shift is becoming visible today where the emphasis is on jobs reskilling and upskilling. The emphasis is also on enabling a diverse workforce of capable, adaptable and resilient employees to respond to technological innovation that is disrupting the norm--thus impacting customer experience.

What are your thoughts about this year's competitive entries in the SBR Technology Excellence Awards?

While most companies are still facing budget freezes and layoffs, the entries this year have shown that the way to get out of the woods is through technology investment that drives innovation to increase business capabilities.

It also demonstrated passion in technological solutions with clear value propositions to drive growth potential in their journey of technology revolution. The companies that are coming forward are quality companies and this bodes very well for Singapore as a Technology Hub.