By Bjorn Biel M. Beltran, Special Features Writer
Technology has already made itself integral to modern business. From fields of health care, to automobiles, to agriculture, among many others, technology has disrupted how established companies have traditionally run their businesses, opening the way for digital natives and future-forward entrepreneurs to take center stage.
Even in the Philippines, the impact of technology has changed the nature of modern business, driving companies to seek innovation and to shift to new strategies to adapt to a changing world. In the field of accounting, things are no different.
“Because of technology, the traditional brick-and-mortar model of doing business no longer applies. With this change in doing business, risks that face companies and the related services that businesses require have correspondingly changed as well,” Roman Felipe S. Reyes, chairman of Reyes Tacandong & Co. (RT&Co.), told BusinessWorld in an e-mail.
The accounting firm, which first started operations in mid-2010 with only 20 employees, has grown to over 800 employees across multiple branches in the country. After only eight years of operations, the firm has established itself as among the country’s most trusted experts in digital transformation, due diligence, tax, advisory services and audit, with branches in key cities like Davao, Cebu, Iloilo, and a recently opened office in Clark.
In its short history, RT&Co. has accumulated extensive experience in all industries, both public and private, including general manufacturing, semiconductors, telecommunications, power generation, real estate, mining, transportation, utilities, media and entertainment, hotels, services, health care and shipping, including those companies registered in special economic zones or the Board of Investments.
The knowledge and expertise puts the firm in a good position to face the future considering the technological changes in this age of disruption. It aims to grow to a thousand people by 2020, to become a professional services firm that can offer guidance to companies in an increasingly digital world.
“In any business, competition will always be present. As we do not want to lose focus of what we want to achieve and where we want to be, we do not look at competition. Instead, we only look at ourselves and evaluate our performance with the measurements we have set for ourselves.”
“When RT&Co. initially started, we wanted to be known as the go-to firm for due diligence services. With technological development we have seen around us, our direction now is to become the first truly Filipino digital transformation consulting firm of CPAs, lawyers and other professionals,” Mr. Reyes said.
“To date, we are on track with our projected growth. By 2020, our target is to be 1,000 in number so that we will have competent professionals to provide the relevant services needed by businesses in this age of disruption,” he added.
RT&Co.’s main strategy relies on the fundamental principle in business that the right people can achieve great results. In striving to become a firm of 1,000 professionals in the fields of digital transformation, due diligence, tax, advisory services and audit, the firm ensures that the future it will create for its business is healthy and sustainable, one with a strong core value offering and a skilled and principled team that is dedicated to helping clients achieve their goals.
“In RT&Co., we treat our employees like family because as a professional services firm, our people are our key asset,” Mr. Reyes said.
“As such, in line with the technological changes, we are preparing our people for the competencies needed by our clients. Talent retention, however, remains to be a key concern particularly when we are competing with employment opportunities abroad and multinational companies with business process outsourcing and shared services operations in the Philippines,” he added.
Through a clear, shared vision of providing the very best solutions for its people, RT&Co. hopes that its value-laden approach to business can help it attract more talent and clients looking for a trusted partner in navigating a changing world.
After all, thriving in a progressively more complex environment does not only rely on offering the best skills needed for the job. It also needs a company putting value into the relationships it builds with its team and its clients and looking forward to a future where it can continually exceed the expectations it sets for itself.
“In any business, competition will always be present. As we do not want to lose focus of what we want to achieve and where we want to be, we do not look at competition. Instead, we only look at ourselves and evaluate our performance with the measurements we have set for ourselves,” Mr. Reyes said.