Integration and Automation Powers Tai Hung Fai’s Growth
Property developer Tai Hung Fai Enterprise Co. Ltd was founded 40 years ago in Hong Kong. In its early years the company focused on property investments and over the years has diversified its portfolio to include over 100 properties across Hong Kong and Macau.
A capital-intensive industry, Tai Hung Fai, like other real estate companies in Hong Kong, is affected by political and economic conditions at both global and local levels. For example, fluctuations in capital flows or interest rates may impact property values or income from property rental.
Tai Hung Fai Enterprise believes that technology plays an important role in its expansion strategies. It sees technology as a platform achieving operational efficiency, manpower savings and assist in business decision making. It allows management to focus on growing the company’s business.
In the past, Tai Hung Fai Enterprise used accounting and property management software applications from a local software provider to support daily operations. However it experienced pain points using these tools. “Our previous software were not well developed nor well tested by the provider prior to the deployment. Lack of integration resulted meant it was prone to human error,” said Bobby Tso, executive director at Tai Hung Fai Enterprise.
Most of the property management reports were not automated and required his staff to produce them manually. After nearly eight years of use, it decided to look for an alternative solution. Tai Hung Fai evaluated products from several international solutions providers but found that they were costly and could not be customized for local customers’ use.
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Automate Business Processes
The property developer eventually turned to FlexSystem Ltd, a Hong Kong-based enterprise management software and services provider. Founded in 1987, FlexSystem is dedicated to software development with accounting and enterprise resource planning (ERP) as its flagship products. After careful evaluation, Tai Hung Fai chose the FlexSystem Financial Management System (FMS), Property Management System (PMS) and Human Resources Management System (HRMS) as its core technology platform.
“FlexSystem solutions are tailor-made to meet our very exacting needs with its tight integrating offering ease of use. They are value for money,” noted Tso. He added: “Their consultants worked closely with us to realign our end-to-end business processes to maximize the performance of their solutions. They followed through before and during the entire implementation well.”
FlexSystem says its solutions help automate a wide range of business processes including human resources management, workflow management, business and financial analysis. This enables customers to maximize operational efficiency.
Continuous Investment in IT
Moving forward, Tai Hung Fai plans to upgrade FlexSystem solutions and add new applications to support its business growth. Tai Hung Fai will revamp the leasing module of the PMS to automate the billing and speed up property rental processes. The revamp is slated for completion by end of this year.
The company is also looking to replace its existing business intelligence application. Leung is aiming for better data integration from different sources to facilitate enhanced analysis and decision-making for the company.