Becoming a member firm of Cheng & Co is more than just being a partner. It is being a part of 23 years old established chartered accountancy brand and expertise recognised not just in Malaysia but also in major countries in the Asia-Pacific region. Alongside this, member firms would also experience leadership development and sharing of best practises and resources, key factors essential to enhancing their business operations.
Crucially professional entrepreneurial development plays a big role in the success of organisations especially SMEs. Hence, being a Cheng & Co member firm would open numerous exclusive doors for these organisations to international networks and greater business opportunities, and these are crucial towards growing a business and making it highly profitable.
Member firms will also be able to benefit from Cheng & Co’s wide array of shared services outsourcing expertise through its subsidiary firm Pro B Centre and have access to highly talented accounting graduates certified through Cheng & Co’s Professional Entrepreneur Program.
Cheng & Co’s Professional Entrepreneur Program
Cheng & Co’s Professional Entrepreneur Program (PEP) was launched in 2015 and its one of the best devised entrepreneurial training programmes the accounting industry has to offer, towards becoming an accomplished and innovative accounting practitioner and entrepreneur. It is uniquely structured to develop entrepreneurial skills and provide invaluable experience for accounting students.
The PEP is not just geared towards building successful accounting practitioners and firms but also to support the growth and meet challenges of the accounting industry in Malaysia and the region. Although the programme is open to adults of any age, candidates are required to possess at least a Bachelor’s Degree or any professional qualifications in accountancy.
The PEP is open to international entrepreneurs from any country especially meticulous individuals driven by a strong sense of responsibility and pro-activeness. Under this programme, candidates will be able to develop vital soft skills such as leadership and communications, and experience continuous professional development towards obtaining a professional certification and a practitioner’s license.
One of the most important features of the PEP that makes it stand out in the industry is its internationally-acclaimed Broadcast Centre, in collaboration with one of the world’s leading global provider of diverse education and training, Kaplan Financial (Kaplan).
The Broadcast Centre (BC) is a live online learning platform, in collaboration with Kaplan, to pursue the ICAEW (The Institute of Chartered Accountants in England and Wales). Kaplan has a highly successful track record of training accountants and financial professionals for over 70 years and prepares over 45,000 students a year for exams such as ICAEW. The BC provides a professional online study program designed to equip students that wish to continuously improve themselves in their professional knowledge and career.
The BC’s fully interactive classes are brought live and direct to students over the internet and apply the same structure, study materials and timing as those in the United Kingdom. Students can also pose questions in real-time and use the recorded lecture facility to playback lectures or topics while a “virtual whiteboard” is made available for course materials, lecturer’s notes and examples to be referred to. Questions posed by students will be answered immediately through an instant messenger chat panel.
The BC features high-definition video lectures, state-of-the-art equipment space, and high-speed internet connectivity to enable students to effectively interact with lecturers or broadcast facilitators. Cheng & Co and Kaplan launched the first BC at Cheng & Co’s modern Melaka office, strategically located in the central Business District of Malacca town. More BCs will eventually be set-up at all Cheng & Co’s branch offices throughout Malaysia, and eventually in major countries in the Asia-Pacific region.
Upon completion of the PEP, candidates will get the opportunity to pursue an accounting career with Cheng & Co Group or Cheng & Co’s member firms to further their development into highly capable accounting practitioners and successful entrepreneurs. Doors will also open for candidates to pursue a career in the SSO industry, guided by subsidiary company Pro B Centre.
Pro B Centre
In today’s extremely competitive business environment, it is essential for a company – be it an SME or a large organisation – to effectively manage operating costs for long term business success. Driven by this objective, numerous companies are turning to various shared services outsourcing (SSO) options towards achieving consistent operational cost efficiency and human capital effectiveness, in the face of globalised business challenges. This is one of the areas that will be a great asset for Cheng & Co’s member firms.
Cheng & Co established Pro B Centre (Pro B), a one-stop professional service centre specialising in SSO, in 2015. The foundation of Pro B is based on Cheng & Co’s own operational structure. Cheng & Co Holdings has more than 40 subsidiaries and the operations of these subsidiaries are centralised within its own internal departments, such as finance, human resource, marketing, etc. Pro B is an organisation with SSO MSC status potential and is currently based in Vertical II, Bangsar South, Kuala Lumpur.
One of the advantages of being a member firm of Cheng & Co is getting access to some of the most sought after SSO functions through Pro B which allows companies to enjoy peace of mind of dealing with a single, trusted service provider. While outsourcing helps member firms save money, it is not the only factor that adds value to them. SSO also aids with controlling capital costs as outsourcing converts fixed costs into variable costs whilst releasing capital for investment needed elsewhere within the business.
Increasing efficiency too is crucial to businesses which conduct high volume business development, marketing and distribution activities. With Pro B’s established structure to provide reliable support in these areas, member firms will enjoy greater economy of scale. Human capital costs are definitely on an increasing trend, especially when member firms are in need of ad-hoc/short term project manpower requirements and this can also be better leveraged upon via Pro B’s SSO services.
Pro B is an SSO firm with sufficient expertise and resources to provide member firms with innovative solutions and services such as:
- Accounting & Finance
- Monthly Payroll Processing
- Performance Measurement
- Workforce Management
- KPI Bonus Scheme for Employees
- Human Resource Compliance System
- Time Attendance System
- Online Leave Management System
- Training & Development Management
For small and medium sized member firms particularly, outsourcing is a great option because through outsourcing, they can act ‘big’ by having access to a pool of resources that is often only available to bigger players.