CPA Australia and Shanghai National Accounting Institute Reveal Accounting and Finance Technology Trends

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SHANGHAI, CHINA – Media OutReach – 21 December 2020 – CPA
Australia and Shanghai National Accounting Institute (SNAI), a leading public
service institution affiliated with the Ministry of Finance of China, announced
yesterday the publication of a new book titled 10 key technology trends for accounting
and finance professionals in China.

CPA Australia and Shanghai National Accounting Institute Reveal Accounting and Finance Technology Trends

Professor Liu Qin, Deputy President of Shanghai National Accounting Institute and Michael Yu, President of CPA Australia’s East and Central Committee 2020 joined celebrated the book launch moment together with authors of the book and guests

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The book
highlights the top 10 technologies that had the most impact on the accounting
and finance profession in China in 2020 and five key technology trends that are
predicted to influence them in the coming years.

 

The top 10
technologies that had the greatest impact on accounting and finance
professionals in China in 2020 are: cloud computing, electronic invoicing, big
data, electronic archiving, robotic process automation (RPA), enterprise
resource planning (ERP) system, blockchain, mobile payments, data mining and computer
assisted audit techniques (CAATs). The top five technology trends are: blockchain invoicing,
digital currency, Internet of Things (IoT), 5G and distributed ledger
technology.

 

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Based on in-depth
interviews with various experts from leading companies and universities, the
book showcases how China’s leading companies adopted technologies into their
accounting, financial reporting and strategic planning functions in 2020 and
the opportunities and challenges businesses and accounting and finance
professionals experienced in using these technologies.

Read Also:  Azbil to Advance Building Automation Solutions with the Smart Urban Co-Innovation Lab Led by CapitaLand

 

Michael Yu, President
of CPA Australia East and Central China Committee, said: “As emerging
technologies continue to transform the accounting and finance profession, it is
imperative for organisations and individuals to keep abreast of the latest
technology, so that they can identify and adopt those solutions that can lead
to improvements in business processes.

 

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“As a global
leading accounting body, CPA Australia is committed to providing thought
leadership to the business community. We are very honored to collaborate with
SNAI to connect the business and research community and gather knowledge to
help accounting and financial professionals prepare for the future. We look
forward to continuing to working with SNAI and other leading institutes around
the world to support our members and the community,” Mr Yu said.

 

“Thanks to the
support of CPA Australia, we are very pleased to release this book to the
public today,” Professor Liu Qin, Deputy President of SNA, said. “Our main goal
in publishing this book is to discover the value that different technologies
and innovations bring, to help accounting and finance professionals gain a
better understanding of the practical applications of emerging technologies,
and to highlight the importance of enhancing the digital skills of the
accounting profession.”

CPA Australia and Shanghai National Accounting Institute Reveal Accounting and Finance Technology Trends

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Latest News

FTLife survey shows Hongkongers far less confident about retirement due to pandemic, while younger generation lacks wealth management knowledge

FTLife launches Prosperous Deferred Annuity Plan 2 for customers’ retirement need with tax deduction

 

  • In survey, 70% said they lack confidence in retirement due to pandemic, four times that pre-Covid level. Top three retirement worries are rising medical expenses (53%), lack of stable income (52%) and managing expenses (50%);
  • High market volatility arouses risk-adverse sentiment among Hongkongers. 37% of the respondents prefer to hold cash savings, especially for young people aged between 20 and 29 (62%). Around a quarter are more interested in capital guaranteed or low risk investment. Many people are re-examining their retirement needs, with 62% of the respondents expressing interest in subscribing to a qualifying deferred annuity plan in the coming year.
  • FTLife is launching Prosperous Deferred Annuity Plan 2, which is open to customers who are 20 years old or above. The guaranteed breakeven period is as short as eight years [1]and the range of total internal rate of return at maturity between 3.28% to 4.32% [2] , so as to encourage different customers, especially the younger generation, to start their retirement planning early for a better future.

 

HONG KONG SAR - Media OutReach - 25 January 2021 - FTLife Insurance Company Limited ("FTLife") commissioned a market research company to conduct "Retirement Planning and Confidence Survey" in December 2020. The survey interviewed 405 working adults aged 20 or above to understand how the pandemic affects Hongkongers' retirement planning, wealth management preference and behaviours.


CPA Australia and Shanghai National Accounting Institute Reveal Accounting and Finance Technology Trends - Brand Spur

FTLife launches Prosperous Deferred Annuity Plan 2 (Prosperous 2) today. From now until 31 March 2021, customers who successfully subscribe to Prosperous 2 as well as one of the designated Voluntary Health Insurance Scheme plans or insurance plans (basic plan/rider) can enjoy up to 15% of first-year premium refund. The minimum issue age of Prosperous 2 is 20 years old and the range of total Internal Rate of Return at maturity can be up to 3.28% to 4.32%, helping customers achieve a stable and independent retirement life.


COVID-19 pandemic has deeply impacted the global economy. The survey revealed increased pessimistic about retirement among respondents since the start of the pandemic. Before the outbreak, around 16% said that they lacked confidence in retirement. During the pandemic, the number quadrupled to around 70%, illustrating how the pandemic has intensified Hongkongers' worries about retirement. The top three worries cited are rising retirement medical expenses (53%), a lack of stable income post-retirement (52%) and greater difficulty coping with retirement expenses (50%).

 

Younger generation fall short on mid- to long-term financial planning

 

About a quarter (24%) of the respondents said their investment awareness has improved due to the uncertain economy. However, two fifths (41%) are concerned about not making good investment decisions in the current volatile market owing to a lack of market and investment knowledge.

 

This is especially true among the younger generation. Half (52%) of the younger respondents (aged 20 to 29) said they lacked knowledge on investment products and nearly three fifths of them (59%) said they did not know how to do mid- to long-term financial planning. Almost three quarters (73%) said they have no regular saving habits.

 

Only 17% of those respondents aged 30 and over said they have no regular saving habits, with 40% saying they did not know how to do such financial planning. That said, about one-third (35%) of this group said that they didn't have enough knowledge about investment products.

 

Hongkongers increasingly risk-averse

 

Due to the volatile market and the pandemic, Hongkongers have become more risk-adverse leading to the adoption of more conservative investment strategies. Nearly two fifths (37%) of those surveyed prefer to hold cash savings, especially those aged between 20 and 29 (62%). A quarter (25%) of the respondents are more interested in capital guaranteed or low risk investment.

 

As the pandemic continues and dents Hongkongers' confidence in retirement, more respondents expressed their desire for a stable income in retirement (55%) and acknowledged that qualifying deferred annuity plan is a suitable first step of retirement planning (41%).

 

FTLife Chief Commercial Officer and Chief Product Officer Christine Yeung said: "Our latest survey found that Hongkongers' confidence in retirement dropped during the pandemic and many young people did not have regular saving habits. This may result in missing the best timing to save for retirement and to achieve the rolling effect of compound interest. Regardless of any economic cycle, it is best to plan retirement early. For Hongkongers with limited amount of capital and little investment experience, they can consider subscribing to a qualifying deferred annuity plan to start saving early. They can enjoy tax deductions while taking the first step to plan for retirement."

 

With regard to the public's retirement needs under the pandemic, FTLife further investigated the public's acceptance rate of a qualifying deferred annuity plan in the survey. The pandemic has prompted people to review their retirement protection needs. More than three fifths (62%) of the respondents are interested in subscribing to a qualifying deferred annuity plan in the coming year. The most attractive features of such a plan include: stable income in retirement (82%), regulatory supervision (53%), payment in installments involving smaller amounts (47%), tax deductions (45%), higher guaranteed cash value and lower investment risk (30%).

 

Minimum issue age of 20 for FTLife's Prosperous 2 helps customers plan ahead

 

In response to increasing public demand of worry-free retirement, FTLife is launching the Prosperous Deferred Annuity Plan 2 ( Prosperous 2) and setting the minimum issue age at 20 years old. This will allow customers to start their retirement planning at an early age and enjoy tax deductions at the same time.

 

Prosperous 2 is certified by the Insurance Authority as a tax-deductible qualifying deferred annuity policy, with options for Premium Payment Period and Accumulation Period. Customers can accelerate potential wealth growth through guaranteed cash value and non-guaranteed terminal dividend [3] . The guaranteed breakeven period can be as short as eight years1 and the range of total internal rate of return at maturity is between 3.28% to 4.32% 2 . During the annuity period, Prosperous 2 provides two extra protection that are exclusive [4] in the market: Travel Accidental Benefit and Terminal Illness Benefit.

 

Ms. Yeung added: "Prosperous Deferred Annuity Plan has been welcomed by customers since its launch. The enhanced version is being launched during this special period to meet market demand and provide Hongkongers with a simple but reassuring retirement plan. This is to encourage more people to plan their retirement ahead, benefit from compound interest return for a longer period, and utilise the best time to save for retirement. With the diversified Voluntary Health Insurance Scheme that FTLife offers, we are confident to provide customers of different ages an ideal retirement planning package, helping customers achieve a stable and independent retirement life while protecting capital and against health risks."

 

From now until 31 March 2021, customers who successfully subscribe to Prosperous 2 as well as one of the designated Voluntary Health Insurance Scheme plans or insurance plans [5] (basic plan/rider) can enjoy up to 15% of first-year premium refund [6] .


Important notes:

  • The information contained in this press release is intended as a general summary of information for reference only. For details, please refer to relevant product brochures and client incentive leaflet. Please refer to the policy provision for full terms and conditions about FTLife "Prosperous Deferred Annuity Plan 2".
  • This press release does not contain the full provisions of Prosperous Deferred Annuity Plan 2 and the above-mentioned designated insurance plans, and the full terms can be found in the Policy documents.
  • Prosperous Deferred Annuity Plan 2 and the above-mentioned designated insurance plans may be purchased as   a standalone plan without bundling with other type(s) of insurance product.
  • Prosperous Deferred Annuity Plan 2 is a qualifying deferred annuity policy, but this does not mean that the qualifying deferred annuity premiums paid by the policyholder and relevant persons are eligible for tax deduction. The nature of qualifying deferred annuity policy for this product depends on the product characteristics and the certification issued by the Insurance Authority, and not on the individual circumstances of the policyholder and related persons. Policyholders and the relevant persons should meet all eligibility requirements under the Inland Revenue Ordinance of the Hong Kong Special Administrative Region Inland Revenue Department before claiming tax deductions. For details on tax deductions, please visit Inland Revenue Department of HKSAR website www.ird.gov.hk and consult your tax and accounting advisors for tax advice.
  • FTLife does not provide any tax, legal or accounting advice or consultation. If you have any questions, please seek professional advice from your independent tax, legal and accounting advisors. The information in this press release does not constitute any tax advice.
  • For further details, please contact FTLife's Customer Service Hotline on +852 2866 8898.
  • This document is for distribution in Hong Kong only. It is not an offer to sell or solicitation to buy or provision of any insurance product outside Hong Kong. FTLife does not offer or sell any insurance product in any jurisdiction outside Hong Kong, in which such offering or sales of the insurance product is illegal under the laws of such jurisdictions.



[1] Calculated based on the 5-year premium payment period and annual premium payment mode. Guaranteed break even period refers to the policy year that the guaranteed cash value is equal to or greater than the premium paid for the first time (refers to the total amount of premium(s) due and paid for the basic plan. If customer partially surrenders this Policy, the total premiums paid will be proportionately reduced.).

[2] Calculation of total internal Rate of Return at maturity includes Guaranteed Monthly Annuity Payment and Non-guaranteed Monthly Annuity Payment, and assumes that the Annuitant receives annuity payment on a monthly basis. Assuming the Annuitant is a 45 years old non-smoker male at application, 3.28% of total Internal Rate of Return at maturity is calculated based on 9-year premium payment period with monthly premium payment mode and 10 years of accumulation period. While 4.32% of total Internal Rate of Return at maturity is calculated based on 5-year premium payment period with annual premium payment mode and 30 years of accumulation period. This is calculated on a best estimate basis which is based on the current dividend scale and assume no cash withdrawal or policy loan during the entire policy and all premiums have been paid in full within the premium payment period. The current dividend scale does not reflect future performance and is non-guaranteed. Please refer to the policy provisions for details.

[3] Terminal Dividend is non-guaranteed and will be paid upon policy termination (except maturity) and partial surrender. Please refer to the policy provisions for details of Terminal Dividend.   

[4] The "Market Exclusive" item is the result comparing similar Qualifying Deferred Annuity Plan policies of major life insurance companies in Hong Kong, until 25 January 2021. During Annuity Period, under the protection of (A) Travel Accidental Benefit, disability of the Annuitant resulted from oversea accidents will be compensated and (B) Terminal Illness Benefit, the Annuitant is diagnosed with Terminal Illness will receive up to 12 months of additional installment payments, are both exclusive in the market .

[5] Voluntary Health Insurance Scheme Series: "TopCare" Medical Insurance Plan and "BetterCare" Medical Insurance Plan; other designated insurance plans include Regent Insurance Plan 2 Series, Regent Prime Insurance Plan (Premier), Regent Elite Insurance Plan (Premier), "HealthCare 168 Plus" Critical Illness Protector, MediGold Plus Insurance Plan and "On Your Mind" Insurance Plan.

[6] Subject to terms and conditions, please refer to the promotional brochure for details.

About FTLife Insurance Company Limited

FTLife Insurance Company Limited ("FTLife") is one of the most well-established life insurance companies in Hong Kong and a wholly-owned subsidiary of NWS Holdings Limited. Building on a history of more than 30 years in the territory, FTLife provides individual and institutional clients with a diverse range of insurance and wealth management products and services, including life, health, accident, savings and investment insurance. As a member of New World Group, FTLife works with diversified businesses within the Group to create synergies and provides customers with best-in-class life-planning solutions, from wealth management and succession to health, wellbeing and quality of life enhancement.

 

About "Retirement Planning and Confidence Survey"

FTLife Insurance Company Limited ("FTLife") commissioned a market research company to conduct "Retirement Planning and Confidence Survey" to understand how the pandemic affects Hong Kong people retirement planning, investment preference and behaviours. The survey was conducted in December 2020 to collect data from 405 working people aged 20 or above through street interviews. The survey mainly targets people with personal monthly income above HK$20,000.

CPA Australia and Shanghai National Accounting Institute Reveal Accounting and Finance Technology Trends - Brand Spur

COVID-19 Crisis: How Digital Marketing Help Businesses Thrive Amidst the Pandemic

KUALA LUMPUR, MALAYSIA - Media OutReach - 25 January 2021 - At the time of writing, Malaysia's COVID cases have increased at an alarming rate with 42,397 active cases and 642 accumulative deaths, resulting in MCO implementation 2.0. Many small business owners and big enterprises are directly impacted by the unfortunate circumstances that come with the virus that alerted society globally in November 2019.


With a cumulative total of 95,612,831 cases and 2,066,176 deaths globally, this pandemic that has hit the world has changed society's norms and the infrastructure of businesses and marketing strategies. As it happens, COVID has pushed society into embracing a new world where social distancing is a necessity, with digital space becoming the primary channel to stay connected with the rest of the world population.


New marketing strategies are now vital for businesses to survive and thrive amidst these trying times. With COVID-19 living within society, changing how businesses and economic sectors run vigorously, small and big business owners are left to rethink their whole digital roadmap and business model to outmanoeuvre the pandemic.


Reevaluate Business Marketing Strategies


At its core, a good marketing strategy includes a deep understanding of the target market. Once that is figured out, the business brand and its marketing strategy can move towards fitting in with the target market's perspectives. The pandemic has called for a change in the market's infrastructure, so does the need for every business to redevelop a new and appropriate marketing strategy.


The first action to take to develop a new marketing strategy is reassessing and reevaluating the business's assets and messages from a different perspective. As we live in a world with high unemployment rates, economic and general anxiety, messages, and business marketing strategies need to be aligned with societal status and financial hardships.

Read Also:  LEMI Launches Worldwide Digital Coupon Service To Support Small Businesses


Losing market share to the competition during this time will take a long time to build that volume back. Thus, it will all come down to the effective search marketing strategies in moving your brand and business forward and thriving amidst the pandemic.


Improve Communication Channels

 

Many businesses are forced to close during the pandemic, with survival depending on revamped services and digital alternatives. For businesses to rise above and stand out in a competitive and crowded digital space, an improved communication channel is vital.


As consumers move online, businesses must be in the digital space too. Focusing on digital marketing efforts like paid ads, search engine optimization (SEO), social media, and email marketing is essential to keep brands and businesses connected to the target market.


As far as business communication and marketing go during the pandemic, business owners and brands should now leverage on the opportunity to further connect with anxious markets and focus on the true relevance of products or services with the help of a digital marketing agency


Readjust Business Models

 

In the face of the COVID-19 crisis, fundamental changes in consumer behaviour, supply chains, and routes to market are knocking companies off balance. Responding to the pandemic has underscored leaders' need to accelerate agile ways of working and value chain transformation to help outmanoeuvre uncertainty.


Readjusting business models to be adaptive to the current economic situation is now vital. With a large portion of consumers currently active on social media, taking advantage, and focusing your business models and marketing efforts on the social media channels will drive a lot of customer engagement.


While businesses may not wholly replicate the services and experiences to offer in-person in the online world, proactive steps can be taken to keep consumers coming from a virtual perspective. Essentially, giving back to the community by giving helpful tools and thoughtful promotions can build brand awareness and loyalty.


Digital Marketing for Business to Survive the Pandemic


In these trying times where everything is uncertain, brands and businesses' best thing to do right now is to stay proactive. Start to adapt and readjust the brand's promotional strategies and take advantage of a digital marketing agency.


As a leading digital marketing agency in Malaysia, iMarketing helps businesses build up and stay connected with the rest of the world population with our personalised SEO Performance Audit and Analysis, website SEO optimisation, Facebook, and Google advertisements for better conversion rates.


Having a business digital marketing strategy that leans intensely on the community, relationships, and brand building with customers is vital to give them a reason to connect with your brands on a deeper level for strong brand loyalty.  Find a new business model and strategy, and give out a message that resonates with the community for the business to be in an excellent position to retain market share as economic activity across the country begins to reach its new capacity.


If brands and business owners are uncertain about how to survive and thrive during the pandemic or in need of a little help dealing with the company's crisis, reach out to iMarketing today for a free digital marketing consultation.


About iMarketing

iMarketing MY is a business unit of the privately owned Acme Commerce Sdn Bhd, established in 1989. Over the years, iMarketing has collaborated with top SMEs and MNCs to provide Digital Marketing Services such as Search Engine Optimization (SEO), Search Engine Marketing (SEM), Social Media Marketing (SMM), and Google Display Advertising.


CPA Australia and Shanghai National Accounting Institute Reveal Accounting and Finance Technology Trends - Brand Spur

CityLand Education (Vietnam) Announces Partnership with VET by EHL

HO CHI MINH CITY, VIETNAM - Media OutReach - 25 January 2021 - Cityland Education (Vietnam) has signed with EHL Advisory Services to become a VET by EHL Licensed Center to train service-minded hospitality professionals ready to thrive in a shifting industry.


Cityland Education (CE) is thrilled to start the year 2021 with an exciting partnership with EHL, the best hospitality school in the world, which confirms our confidence in the tourism potential of Vietnam. By venturing into the education industry, Cityland is not only strengthening its position as a leading Vietnamese group but also fully engaging into its corporate social responsibility policy.


Cityland Education aims at offering the best educational and vocational programs available worldwide to the Vietnamese students and workforce. By bridging the gap between the job market needs and the education space, Cityland Education is looking forward to strengthening local skills, expanding career opportunities and enhancing Vietnamese people's lives.


The VET by EHL program is a blended skills training model based on the Swiss Competency Framework, regarded as one of the best education models in the world. It is characterized by a strong learning outcomes approach and a competence-oriented structure of training content. The curriculum emphasizes practical learning, designed to enable graduates to be work-ready upon completion.


As a VET by EHL Licensed Center, Cityland Education through its Hotel Academy Phu Quoc will offer 4 module-based Professional Diplomas and Certificates to students interested in fast-tracking or upgrading their career in hospitality: Kitchen, Service, Rooms and Hotel Administration.


The flexible program structure targets students and professionals at different levels in their career focusing on the application of skills through real-world learning and internships. All learning content is developed by EHL in Switzerland, encouraging a stimulating and interactive teaching style.


Our collaboration with EHL is a common answer to the current aspiration of the Vietnamese hospitality industry, and the service industry in general, to upgrade the skills of its professional workers and therefore improve our customers' experience while visiting our country.


Our upcoming Hotel Academy Phu Quoc will be the first training center owned by Cityland Education and licensed under the standards of VET by EHL. The Hotel Academy will follow VET by EHL's international requirements in terms of facilities and design and will comprise of more than 10,000sqm available to students. The learning environment will match VET by EHL's blended learning model and consist of:

  • a 50-room training hotel with 4 meeting rooms
  • 10 full-size classrooms and 16 half-size classrooms
  • 1 ballroom
  • 1 reception
  • 1 IT laboratory
  • 1 demonstration kitchen
  • 4 study rooms
  • 1 print shop and multimedia corner,   
  • 1 library
  • 1 bakery and 1 café bar
  • 1 main kitchen


The convenient location of the Hotel Academy Phu Quoc at only a 10-min drive from the international airport provides great accessibility for students and professionals flying in while being close to Long Beach and its numerous hotels and resorts.


Finally, Cityland Education views the current pandemic as an opportunistic time for students and professionals to improve and hone their skills as the travel & tourism industry is redefining its future. As a destination, Vietnam has been blessed with amazing landscapes, rich culture and exquisite cuisine which make us among travellers' top destination choices. We believe that with the right training and the integration of best practices, we will be able to provide an authentic and memorable experience with a whole new level of service.


Statement from VET by EHL


Mr. André Mack, Director & Deputy Senior Managing Director of EHL Advisory Services also shared his vision regarding the upcoming Hotel Academy Phu Quoc" EHL is delighted to partner with Cityland Group to establish the very first VET by EHL center in Vietnam. We believe that this partnership will set up a unique hospitality education community within the region by providing students with an education that upholds the highest international standards and EHL excellence and supports the local hospitality industry development. "


About CityLand

CityLand Investment Company Limited (CityLand) develops and operates a multi-industry business, which places real estate development at core. Our mission is to contribute to the creation of prosperous life for people through inclusive and high-class residences without compromising the quality of the environment. Sustainable and high-quality life for people is our strongest motivation. On a broader scale, we aim to bring sustainable values to the socio-economic development of Vietnam. We envision ourselves to become a trustworthy and leading brand in Vietnam's real estate industry and to enlarge our business scope to international market.


With such dedication and vision, CityLand embraces credibility, quality, integrity, commitment and community value as core values in our business philosophy and relationships with stakeholders. CityLand commits the highest quality on all CityLand branded properties while having strong focus on strategic and successful partnerships, and sustainable employment practices.


Throughout the years, CityLand has successfully developed many real estate projects such as CityLand Riverside, CityLand Garden Hills, CityLand Park Hills and CityLand Center Hills. Following the success we have achieved, we continue to grow and build our ongoing projects such as Forest Bay Phu Quoc, President Park, Dong Mai City...

CityLand has been continuing striving towards success and achieving significant recognitions such as Best Luxury Township Development 2020, Best Luxury Developer Southeast Asia 2018, Top 10 Vietnam's Largest Private Enterprise 2016-2017...

Cityland Education is the education arm of Cityland.


Vision: to contribute to Vietnam's peaceful future, social stability and economic growth by building the capacities of the next generation of Vietnamese students and professionals.


Mission: to offer the best curriculum and trainings available worldwide to our students so they can acquire the right skills to meet the employment market needs.

About EHL Group

EHL Group encompasses a portfolio of specialized business units that deliver hospitality management education and innovation worldwide. Headquartered in Lausanne, Switzerland, the Group includes:


EHL Ecole hôtelière de Lausanne is an ambassador for traditional Swiss hospitality and has been a pioneer in hospitality education since 1893 with over 25,000 alumni worldwide and over 120 nationalities among its students. EHL is the world's first hospitality management school that provides undergraduate and graduate programs at its campuses in Lausanne, Singapore and Chur-Passugg, as well as online learning solutions. The university of applied sciences is ranked n°1 by QS World University Rankings by subject and CEOWorld Magazine, and its gastronomic restaurant is the world's only educational establishment to hold a Michelin Star for two consecutive years.


EHL Swiss School of Tourism and Hospitality has been one of the leading hospitality management colleges for hotel specialists for 50 years. The College delivers Swiss-accredited federal diplomas of vocational education and training and of higher education in its 19th century spa-hotel in Chur-Passugg, Graubünden, to Swiss and international students from 20 countries.


EHL Advisory Services is the largest Swiss hospitality advisory company specializing in service culture implementation, business consulting, as well as the development and quality assurance of learning centers. EHL Advisory Services has offices in Lausanne, Beijing, Shanghai and New Delhi and has delivered mandates in more than 60 countries over the past 40 years.   

CPA Australia and Shanghai National Accounting Institute Reveal Accounting and Finance Technology Trends - Brand Spur

Shopee unveils new initiatives to power the next phase of growth for brands and uplift the Shopee Mall experience

As e-commerce in the region accelerates, brands learnt new ways to attract and retain consumers at the first Shopee Brands Summit

 

SINGAPORE - Media OutReach - 25 January 2021 - Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, today unveiled a series of new initiatives and features for Shopee Mall[1], at the inaugural Shopee Brands Summit 2021, held at Andaz Singapore. The event saw Shopee's leadership team share the 2021 roadmap for brands to capture the next wave of growth in the region's US$172 billion[2] e-commerce market, as consumers shop and spend more online. Since launching Shopee Mall, orders have grown by 10 times, indicative of a growing consumer demand. Similarly, the ongoing impact of the pandemic on retail traffic has also driven more brands to expand their online businesses, with the number of official stores on Shopee Mall doubling in the past year. 


CPA Australia and Shanghai National Accounting Institute Reveal Accounting and Finance Technology Trends - Brand Spur


In his welcome address, Chris Feng, Chief Executive Officer of Shopee said, "Shopee Mall is an integral part of our business, and we have a strong track record of helping brands to transit, grow and succeed online. Today, Shopee Mall houses more than 20,000 international and local brands, a four-fold increase from when we first launched in 2017. As opportunities in Southeast Asia's digital economy continue to flourish, we are committed to strengthening our support for brands to boost their online presence, drive sales and serve consumers better. We will also continue to innovate our platform, services and features to meet the ever changing needs of our consumers, delivering a seamless and fun shopping experience."


New programmes to help high-performing brands scale new heights

At the summit, Shopee announced the launch of two new programmes that aim to help top performing brands maximise their online growth potential. This includes the Regional Champion Brands Programme, a by-invite program comprising 16 brands who will receive priority support from Shopee in the areas of marketing, innovation and insights. These brands will receive exclusive access to Shopee's campaigns and new feature launches, as well as dedicated support to further grow their business.  

 

The second programme is the '100 Million Dollar Club', which challenges brands to achieve USD100 million in Gross Merchandise Value (GMV) within the year. The first ten brands to unlock this milestone will be rewarded with special perks, including privileged access to exclusive business insights, increased campaign exposure, media support and more.

New features and initiatives to empower brands


In addition to the two new programmes, Shopee will also be rolling out a series of new initiatives and improvements to help brands acquire new consumers, increase consumer retention and optimise their online performance. 

 

1)    Increasing brand awareness and reach among different consumer segments


This year, Shopee will be scaling up on its mega shopping events and brand collaborations to boost brands' online visibility and capture new consumers. This includes helping brands to reach new consumer demographics, such as the growing segment of affluent consumers shopping online for premium products. As such, Shopee will be scaling up its Shopee Premium offerings and campaigns and expanding its assortment to include more premium fashion and beauty brands.

To help fast-moving consumer (FMCG) brands capture a growing segment of online grocery shoppers, Shopee will also be ramping up on Shopee Mart, a one-stop shop that allows consumers to conveniently purchase a wide variety of groceries and personal care products. 

2)    Providing brands with more ways to connect and engage with existing consumers

 

In addition to helping brands reach new consumer segments, Shopee's suite of in-app engagement tools also allow brands to continuously connect and engage with existing consumers. For instance, Shopee most recently upgraded its popular Shopee Live feature to support co-streaming, which allows for more dynamic and interactive entertainment for viewers during brands' livestreams.

 

Shopee also introduced the Brand Membership program for brands to increase consumer retention by rewarding shoppers with loyalty points when they shop from brands' Official Stores on Shopee Mall. This encourages more frequent  purchase and deepens brands' understanding of their consumers' purchasing habits and references.

 

Finally, Shopee also provides brands with an extensive range of warehouse and  fulfilment support, allowing them to fulfil orders quickly and reliably all year round.  This translates to a more seamless shopping experience for consumers and in turn,  increased consumer satisfaction and likelihood of repurchase.

 

3)    Optimising brands' performance with enhanced data-driven tools

 

As the online space becomes increasingly competitive, Shopee is constantly upgrading its data-driven tools to empower brands to track, analyse and optimise their store performance. This includes an enhanced marketing and business data portal that provides brands with centralised access to market intelligence, product rankings, store traffic and more, giving them useful insights to guide decision-making and drive sustained growth.

 

Shopee Brands Awards 2021


To celebrate brands' milestones and achievements, Shopee also presented awards to ten brands for their outstanding marketing and commercial performance (refer to Appendix for full list of award categories and winners).

 

At the closing of the event, Ian Ho, Regional Managing Director and Head of Regional Brand Partnerships at Shopee, reiterated Shopee's commitment to brands, and said, "We are all gathered here today because we share the common goal and commitment to deliver the best shopping experience for our users and customers. With our strong and dedicated teams in each of our markets, Shopee is confident of taking brands to the next level in an increasingly digital-first world."

 

Download Shopee for free on App Store or Google Play Store.



[1] Shopee Mall is a dedicated space offering authentic products from thousands of renowned international and local brands, guaranteed by Shopee

[2] Google-Temasek-Bain, 'e-Conomy SEA 2020' projected that Southeast's e-commerce market will be worth US$172 billion by 2025

About Shopee

Shopee is the leading e-commerce platform in Southeast Asia and Taiwan. It was launched in 7 markets in 2015 to connect consumers, sellers, and businesses in the region.

 

Shopee offers an easy, secure, and engaging experience that is enjoyed by millions of people daily. It offers a wide product assortment, supported by integrated payments and logistics, as well as popular entertainment features tailored for each market. Shopee is also a key contributor to the region's digital economy with a firm commitment to helping brands and entrepreneurs succeed in e-commerce.

 

Shopee is a part of Sea Limited (NYSE:SE), a leading global consumer internet company. In addition to Shopee, Sea's other core businesses include its digital entertainment arm, Garena, and digital financial services arm, SeaMoney. Sea's mission is to better the lives of consumers and small businesses with technology.


CPA Australia and Shanghai National Accounting Institute Reveal Accounting and Finance Technology Trends - Brand Spur

DHL Express recognized as Global Express Provider of the Year

DHL Express Asia Pacific wins industry award for the fifth time at Payload Asia Awards 2020

 

SINGAPORE - Media OutReach - 25 January 2021 - DHL Express, the world's leading international express service provider, has been awarded the Global Express Provider of the Year at the 7th Payload Asia Awards. This is the fifth time that DHL Express has won the award, which recognizes excellence among air cargo companies and the positive impact it has made on the logistics industry.


CPA Australia and Shanghai National Accounting Institute Reveal Accounting and Finance Technology Trends - Brand Spur

DHL Express recognized as Global Express Provider of the Year for the fifth time at Payload Asia Awards 2020.


"The award speaks volumes about the trust and quality that DHL Express has built with our customers over the decades. Despite the challenging period, we are proud to have been able to help keep our customers' businesses running, and to play an important role in the delivery of vaccines throughout the globe," said Ken Lee, CEO of DHL Express Asia Pacific. "We have bolstered our network and infrastructure in the region to support our customers' growing business needs in global trade and the ever-growing demands from e-commerce. DHL Express' global e-commerce volume grew by more than 40 percent in Q4 2020, and our ongoing investments will continue to enhance our extensive operational network and underscore our commitment to providing high quality service to customers."


In November, DHL Express announced that it is investing circa EUR 690 million between 2020 and 2022 to build or expand its facilities in key growth markets of Australia, Japan, Hong Kong S.A.R. and South Korea. Equally, it intends to spend close to EUR 60 million to bolster its Asia Pacific air network such as introducing direct, new (e.g. Vientiane, Yangon), and frequent flight routes (e.g. within Oceania). The expanded infrastructure and new flight routes across Asia Pacific will help the company tackle the unprecedented growth in shipment volume and address the ever-growing demand for time-definite express deliveries.


Last week, DHL Express also announced that it has placed an order for eight additional new Boeing 777 freighters. The investment marks a further step in DHL Express' expansion of its intercontinental air network to meet customer demand in fast growing international express shipping markets. First deliveries of the new aircraft are scheduled for 2022.


Now in its seventh year, the Payload Asia Awards recognizes the best companies in the air cargo market, notably, putting the spotlight on services that benefit the rising e-commerce market. This year's awards comprises 15 categories judged by an esteemed panel of judges, and winners are selected based on a set of criteria evaluating the strength of customer service, business growth, operational performance, development strategy as well as customer and product innovation.


DHL – The logistics company for the world

DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 380,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as "The logistics company for the world".


DHL is part of Deutsche Post DHL Group. The Group generated revenues of more than 63 billion euros in 2019. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. Deutsche Post DHL Group aims to achieve zero-emissions logistics by 2050.

CPA Australia and Shanghai National Accounting Institute Reveal Accounting and Finance Technology Trends - Brand Spur
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