'ASEAN countries’ full of opportunity, PwC’s SEAC CEO says,

Stocks News Friday September 22, 2017 17:05 —PRESS RELEASE LOCAL

Bangkok--22 Sep--PwC Thailand Businesses in the Association of Southeast Asian Nations (ASEAN) are looking for ways to drive faster growth and greater productivity as they navigate through increasingly complex challenges and technological advances. The region, which celebrated its 50-year anniversary just last month, is the world's seventh largest economy with a combined population of 620 million. It has seen growth of 4.8% over the past year. Despite economic and political headwinds, the business outlook for the burgeoning region remains buoyant as it is well positioned to take advantage of disruption, according to Sundara Raj Ramamurthy, incoming Chief Executive Officer and Markets Leader for PwC's South East Asian Consulting (SEAC) services. Based in Malaysia, Raj has worked extensively in the region advising clients in the areas of strategy, business transformation, risk and people and change, among others. Emerging technologies are having a significant impact on ASEAN just like other parts of the world, Raj said. "In our region, digital disruption is further intensified by factors such as rising urbanisation and strides toward smart cities, leading to growing expectations for services like accessible healthcare, education, improved infrastructure and ubiquitous internet access. "While challenging, this dynamic landscape provides ASEAN businesses with substantial opportunities. We find that while our clients are in different stages of maturity across the region, they're all looking for ways to drive faster growth and greater productivity." PwC has been providing strategy through execution consulting services for clients by applying its methodology of business, experience and technology (BXT). The BXT method helps organisations view their business challenges holistically from the three lenses of business strategy and operations, user experience and emerging technologies, concurrently. "By bringing together PwC's capability in business strategy and operations consulting, user experience design – and expertise in current and emerging technology – we break down silos in organisations and embrace the power of design thinking. This leads to breakthrough solutions amidst disruption for our clients across ASEAN," he said. Vilaiporn Taweelappontong, Lead Partner at PwC Thailand's consulting services, added: "Many of our clients across the region and in Thailand are seeking transformation through experimenting with newest technologies and investment in innovation, as well as partnering with start-ups to learn how to reinvent themselves," Vilaiporn said. "But the problem is that a majority of them still fail to transform their business because they use current approaches which look at things through just one particular lens, instead of multiple lens and that's why they aren't really producing the desired results. "By engaging the power of perspectives from business, experience and technology at the start of a business transformation, business leaders have been able to realise innovative, attainable and more efficient results." For PwC, the BXT method also harnesses talent and capabilities across the network, Vilaiporn said. "Our South East Asia consulting business structure allows us to bring the best of local and regional talent to our Thailand-based clients. "We have the benefit of local knowledge on the ground that is specific to our local client needs, while being able to readily connect with a network of experts from across the globe to bring in best practices." With government support under the Thailand 4.0 policy and growing demand in technology consulting services, particularly Artificial Intelligence and Robotic Process Automation, Vilaiporn expects Thai businesses to transform their organisations to a digital ecosystem in order to stay competitive and gain a larger market share.

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