SINGAPORE, July 20, 2017 /PRNewswire/ Korea IT Times-- ACCA, the global professional accounting body, called for businesses to re-think their existing business models. The conference urged for business leaders, owners and finance professionals to better prepare themselves for more disruption of the economy ahead by exploring ways that they can make use of new and existing technology, and to take advantage of the skills training opportunities available.
Angeline Lee, Deputy Director, PND, NTUC; Amos Ng, Immediate Past Chairman, ACCA Singapore Network Panel; Leo Lee, Deputy President, ACCA; Mr Chan Chun Sing, Secretary-General, National Trades Union Congress, Minister, Prime Minister's Office; Reuter Chua, Head, ACCA Singapore; James Lee, Chairman, ACCA Singapore Network Panel; Vivek Kumar, Assistant Director-General NTUC
Mr Chan Chun Sing, Secretary-General, National Trades Union Congress, Minister, Prime Minister's Office having a conversation with delegates at the ACCA Annual Conference 2017.
The one-day conference was attended by approximately 550 participants from corporate, public, financial and the professional advisory sectors in Singapore. The conference looked at how business leaders, owners and finance professionals through the various skills-upgrading programmes that ACCA and NTUC are working towards can be positioned to support the recommendations of the Committee on the Future Economy's (CFE).
The Guest of Honour, Mr Chan Chun Sing, Secretary-General of the National Trades Union Congress, and Minister in the Prime Minister's Office, encouraged participants to continuously upgrade and upskill themselves to keep relevant in today's fast changing digital world where business models. He spoke about how connectivity and information changes the way information reaches us and the importance of "just-in-time" training.
Dr Michael Teng highlighted how the Internet of Things has changed business practices and how this will, if not already, make an impending impact on the accounting sector. Dr Teng urged businesses to adopt new ways of operating that will be able to capture, create, develop and deliver value to their customers and the market. He expanded on the need for businesses to realign fast and accept their business models being disrupted with digital advancements.
The panel discussion looked at the importance of Business Model Innovation, and directors and finance professionals from various organisations across Asia offered expert opinions on similarities and differences across new business models, and how they leverage on Artificial Intelligence (AI) and Robotic Process Automation (RPA) in the business world.
The conference also had deep dive sessions that explored business innovation in the corporate, public and financial services sectors; and professional advisory services.
ACCA Global Council member, Ms. Belinda Young said, "Today's conference is important as there is a need for accountants to be holistic in their approach towards business innovation; as we live in an increasingly digitalised world, with 'technology, experience and creativity playing an important role."
