It is encouraging to see Hong Kong’s business and professional services sector embracing the digital economy, as this is vital to success in today’s market environment.
PwC boasts a history of doing business dating back to the mid-19th century in London, and has evolved to become a global network that offers assurance, accounting, tax, legal and company secretarial services. To keep itself a market game changer while remaining sensitive to its clients’ need, it intends to provide more innovative business solutions going forward. One of its key products is PwC Digital Business Portal.
Personalised Integrated Business Platform
“The Portal is an automated online platform that acts as a personalised integrated solution for all tax, legal and corporate compliance matters that startups, SMEs or established businesses may encounter,” explained Charles Lee, PwC’s Tax Leader for South China and Hong Kong SAR. “Basically, we have developed a series of modules to assist clients in an efficient way under a digitally-enabled environment. Each module includes commonly used templates for users to tailor to their own purposes. The Portal uses a subscription-based model, payable each quarter, to help startups and SMEs at a minimal cost.”
The Portal helps entrepreneurs jumpstart their business and SMEs continue operating seamlessly and efficiently. After conferring with stakeholders at Cyberport and Hong Kong Science Park, PwC launched its pioneering platform targeting smaller firms that may have trouble keeping up with the city’s ongoing regulatory changes. “This platform ensures their business stays compliant at all times,” noted Jeremy Choi, Tax Partner with PwC Hong Kong. “We have always been very supportive of startups and they are always enthusiastic about digital technologies.”
Support for Startups and SMEs
PwC understands that the Portal is a multi-year journey both for itself and its clients. E-learning modules have been recently launched in phase two development and further enhancements in phase three are planned in mid-2020. Going forward, it aims to improve collaborations across its internal departments while attracting new clients to the Portal. “We can do almost anything on our mobile devices these days, and PwC is planning to develop a mobile app in the next phase of development which will give our clients a new way to run their business,” affirmed David Tiang, Partner with Tiang & Partners (associated with PwC Legal International Pte. Ltd.).
PwC will leverage its internal network by involving more staff members from different business units and at the same time, it is looking to like-minded organisations that service startups and SMEs for collaborations. “Through these collaborations, we believe we can create synergy and increase community awareness,” said Lee. “The speed of technology adoption in Hong Kong is accelerating gradually, as more people use digital products. It is encouraging to see Hong Kong’s business and professional services sector embracing the digital economy, as this is vital to success in today’s market environment.”
“We are excited to be working closely with InvestHK to support local and overseas companies, from the planning stage all the way to the launch and expansion stages of their business cycle,” Lee concluded.
