In July 2021, As one of the judges in this year’s Hong Kong Business Awards 2021, Ivan Chan, our Audit & Financial Advisory Services Partner from Mazars in Hong Kong shared trends that will define Hong Kong businesses in the years to come. He mentioned that Hong Kong's economy rebounds & recovers strongly, various newly arising trends could be easily captured in the market. COVID hammered the total consumption spending of Hong Kong; however, the growth of the e-commerce market will continue to soar in the upcoming year. 2021 has been a record-breaking year for the e-commerce market, and its associated implications will be continuously leading the recovery of the entire Hong Kong business environment.
Ivan also shared his insights to business who are in the early stages of recovery. “Companies can start to look forward to formulating plans for embracing business recovery. This pandemic has created an imperative for companies to reconfigure their position and operation and accelerated the adoption of technology transformation. The implication of new technology including Artificial Intelligence (AI), Robotic Process Automation (RPA), & Enterprise Resource Planning (ERP) could be lifesavers to companies who are facing a dilemma. Developing and maintaining efficient forms of automation can easily allow companies to reduce operating costs.” He said. “Investing in technology is never an effortless task, before proceeding to the next step, thorough market research should be conducted, especially the definition of “new normal” should be clarified from time to time as the next normal is always changing.”
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Credits: Janine Ballesteros, Hong Kong Business Magazine, 27th July 2021
Ivan Chan from Mazars in Hong Kong joins panel of judges at Hong Kong Business Awards 2021.pdf