Bespoke services and a commitment to digitisation are keys to Nexia TS being the partner of choice for over 90 listed companies.
Gone are the days when accounting firms relied on a one-size-fits-all system to serve the needs of various clients. At Nexia TS, relentless innovation is the key towards top-notch service. “We aim to be a personal adviser who listens to our clients, thinks on their behalf and helps guide them on difficult decisions,” says Henry Tan, Managing Director of Nexia TS.
Established in 1993, Nexia TS Public Accounting Corporation is a proud homegrown firm with a stellar track record. Since its founding, it has achieved a total of 32 IPO listings to-date in its capacity of Reporting Accountant and Consultancy roles. Now, its key clientele includes over 90 public listed companies, for whom the firm provides statutory audit, internal audit, tax or other forms of advisory work. In addition, Nexia TS also serves several multinational companies, non-profit organisations and large private entities.
Despite its success, Nexia TS is definitely not resting on its laurels. To stay competitive, the firm has invested heavily in providing automated solutions to streamline its workflow processes. It has invested into the bespoke Practice Management System (PMS), a customised workflow system which greatly empowers the firm in its efficiency drive. “We believe we are one of the more advanced firms to invest a sizable amount into an enterprise resource planning system,”says Henry, adding that this has contributed greatly to the firm’s productivity across all business units in terms of automating work functions.
“On top of implementing the PMS platform, we have been using Caseware Electronic Working Papers for Assurance, which allows electronic working papers and automatic preparation of financial statement numbers to check against the reports.” Henry added.
In July 2017, the firm also launched Ascend, an integrated cloud-based accounting, business automation and A.I. analytics solution platform. “Bolstered with our technical and consulting expertise, Ascend works with leading software partners to leverage on their technological capabilities and their strategic partnerships with leading companies such as IBM Watson, to deliver the best of both worlds to our clients,” commented Henry.
More digital innovations are in store for Nexia TS. Henry notes that the firm is also looking into using analytics and technology tools to improve its manual processes in compliance work, as well as exploring a digital client relationship management system.
“We are constantly in touch with the uberisation of accounting and advisory business. In such a competitive environment, we have to embark on continuous innovation and rethink of better ways to do things,” Henry says.
With its growing capabilities, the firm has also set up subsidiaries in Shanghai, Malaysia, and Yangon to better serve its clients’ business interests in the wider region. It was also one of the early movers into the China market by setting up a local advisory office in 1996 and bringing in Chinese companies to list on the Singapore stock exchange. “Our China practice has provided valuable support to many international corporations looking to penetrate the China market,” Henry notes.
“China remains a major market for our firm. Hence, we will ride on the One Belt One Road initiative to continue to assist our clients expand their business interests overseas.”
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