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From Small and Medium to Significant and Meaningful Practices
Dealing with economic
downturn - Transforming
the SMP landsc...
From Small and Medium to Significant and Meaningful Practices
The concern about the economy is real
Inovastra ongoing surv...
From Small and Medium to Significant and Meaningful Practices
ClientsSuppliers Customers
Econom
icsGDP growth
Inflation
In...
From Small and Medium to Significant and Meaningful Practices
Capital is required when the
business is at the infancy stag...
From Small and Medium to Significant and Meaningful Practices
Q12: Which statement is true with respect to financial manag...
From Small and Medium to Significant and Meaningful Practices
Q15: Who, outside your company, provides most solutions to y...
From Small and Medium to Significant and Meaningful Practices
• By becoming more
MEANINGFUL and
SIGNIFICANT to clients thr...
From Small and Medium to Significant and Meaningful Practices
This is the best opportunity to be different
Re-configure, R...
From Small and Medium to Significant and Meaningful Practices
This is the best opportunity to be different
Invest in peopl...
From Small and Medium to Significant and Meaningful Practices
This is the best opportunity to be different
Capturing the O...
From Small and Medium to Significant and Meaningful Practices
• Guidelines on Recognised
Markets became effective
on 2 May...
From Small and Medium to Significant and Meaningful Practices
Don’t miss the fintech revolution
From Small and Medium to Significant and Meaningful Practices
Moving forward
• By being Significant and Meaningful
to thei...
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Why Small and Medium accounting Practices (SMPs) should reframe their purposes and become Significant and Meaningful to their clients

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Transforming the smp landscape ppt

  1. 1. From Small and Medium to Significant and Meaningful Practices Dealing with economic downturn - Transforming the SMP landscape ASEAN Regional Small & Medium Practices Conference 20th October 2016 Bangkok Thailand
  2. 2. From Small and Medium to Significant and Meaningful Practices The concern about the economy is real Inovastra ongoing survey on SME business practices in Malaysia
  3. 3. From Small and Medium to Significant and Meaningful Practices ClientsSuppliers Customers Econom icsGDP growth Inflation Interest rates Commodity pricesCurrency Economic crisis could be triggered by many elements which would affect SMEs, their supply chain and value ch
  4. 4. From Small and Medium to Significant and Meaningful Practices Capital is required when the business is at the infancy stage with high risk of defaulting Capital is required to finance operations and expansion Capital is required to innovate, diversify and grow Capital and cash flow management would be given higher priority when the economic environment is tough
  5. 5. From Small and Medium to Significant and Meaningful Practices Q12: Which statement is true with respect to financial management of the company? Answered: 34 Skipped: 38 Where are the SMEs struggling? Inovastra ongoing survey on SME business practices in Malaysia
  6. 6. From Small and Medium to Significant and Meaningful Practices Q15: Who, outside your company, provides most solutions to your business management issues? Answered: 36 Skipped: 36 Inovastra ongoing survey on SME business practices in Malaysia Who do they turn to for solutions?
  7. 7. From Small and Medium to Significant and Meaningful Practices • By becoming more MEANINGFUL and SIGNIFICANT to clients through providing services which would make them better businesses, e.g.: • Ensuring financial system provides relevant and timely information • Budgeting and forecasting • Performance analysis • Cash flow and fund management • SMPs are not starting from ground zero as they know their clients and could already been providing some relevant services This is the best opportunity to be different
  8. 8. From Small and Medium to Significant and Meaningful Practices This is the best opportunity to be different Re-configure, Re-invent, Re-think • Re-configure your value chain – what is your unique selling proposition? How would your new fee structures be? • Re-invent your business model – how do you structure your business to interact with business partners and suppliers to offer your USP to your clients? • Re-think your business process – could it be done differently in a more effective and efficient manner which add more value to clients?
  9. 9. From Small and Medium to Significant and Meaningful Practices This is the best opportunity to be different Invest in people, including yourselves • Change requires strong and determined leadership who inspires people to commit to the cause • The path of the journey has to be shared with your team and other key stakeholders • Skills and competency could be developed, acquired or shared • Invest, invest, invest
  10. 10. From Small and Medium to Significant and Meaningful Practices This is the best opportunity to be different Capturing the Opportunities Business Services Firm Business Partner Business Partner Existing Clients New Clients New Clients Existing services based on existing capabilities New services based on partner’s capabilities New services based on newly acquired capabilities New services to new clients based on partner’s capabilities New services to new clients based on partner’s capabilities and new distribution channels
  11. 11. From Small and Medium to Significant and Meaningful Practices • Guidelines on Recognised Markets became effective on 2 May 2016 • Allowed 6 equity crowdfunding platforms to operate • The SC is evaluating applications for peer to peer financing operators and decisions are expected before the end of the year • Bursa Malaysia issued a consultation paper on SME Board in September 2016 Don’t miss the fintech revolution
  12. 12. From Small and Medium to Significant and Meaningful Practices Don’t miss the fintech revolution
  13. 13. From Small and Medium to Significant and Meaningful Practices Moving forward • By being Significant and Meaningful to their clients, SMPs can leverage on challenging economic situations to transform themselves • Leadership and people would be critical in this transformative journey, be prepared to invest • New forms of business structures including strategic networking should be considered • Do not miss out on the fintech revolution
  • hololociput

    Oct. 25, 2016

Why Small and Medium accounting Practices (SMPs) should reframe their purposes and become Significant and Meaningful to their clients

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