Christos Vassiliou The master of the business game

Business
Looking to the future with optimism during a time that presents you with multiple challenges is not an easy task. KPMG’s CEO reveals the reasons why he can do it, even against the pandemic...

What are the most important challenges that you are called to confront since the outburst of the COVID-19 pandemic?

In addition to the obvious, basically being alert at all times when it comes to our staff’s health and safety as well as preserving our relations with our clients, the most important challenge is the ongoing upgrade of the services we offer so that they can meet the needs of the new business environment.

The financial impact of the pandemic and the crisis that has come with it, have highlighted the extreme importance of the efforts to maintain the income as well as the liquidity of the Company.

The further development of technology and the acceleration of the digital transformation not just of our Company but also of our clients companies, also poses as a significant challenge, something that was clearly demonstrated during the implementation of the restrictive measures. With the outbreak of the pandemic, the use of technology and the use of remote services are implemented on a much broader basis, thus increasing the possibilities in time saving and the creations of economies of scale.

How did your company manage to meet these challenges?

KPMG has developed a crisis management plan which is currently being successfully tested. The implementation of technology, which is already part of our culture and procedural operations, has allowed our Company to quickly adapt to the current situation. In prioritizing the safety of our people, before the outbreak of the pandemic, we had activated an internal coronavirus monitoring team. Almost all KPMG staff can work and communicate from home at any time, remotely accessing all the files and tools required electronically.

What are your estimates for the course of the professional services sector for the year 2021?

The professional services sector is significantly affected by external factors and the downturn in the global and European economy has clearly had a negative impact on it. Nevertheless, the sector, which proved resilient to the previous crisis, which was mainly financial, will recover once again, as it is expected to quickly adapt to the conditions of the new business environment. The sector has already been restructured in order to meet the continuously evolving needs of businesses, investors and society.

What are the future prospects for KPMG Cyprus?

KPMG Cyprus employs excellent professionals with many years of experience and deep know-how. Efforts are being made to swiftly adapt to the new conditions in the business world in the era of the pandemic. Meanwhile, we will continue to prioritize the strengthening of the range of existing services, whether they relate to auditing, taxation or consulting, all of which have already been adapted to meet the new requirements of today's business environment.

Which is your competitive advantage? What were the characteristics that enabled the company to stand out and be so successful?

We base our success on our human resources, which we consider being the most important factor for our Company and in which we constantly invest, always aiming towards satisfaction and upgrading. We strive to maintain a healthy corporate culture which is founded on open, reciprocal, transparent and honest communication between management and personnel. Respecting individual diversity in the context of teamwork and beyond, coupled with continuous staff training are the main pillars for talent development and consequently the success of the Company.

KPMG is a House with a 72 year history, which mainly grew through the domestic market and developed in tandem with its customers. We have created expert departments and professionals that are valuable to our customers.

What are the future plans of KPMG Cyprus?

Our primary goal is the empowerment of the Company and its establishment as the clear choice for our customers, our staff and society in general. KPMG’s constant support towards our country is always a factor in all our future goals that we set. We will continue our efforts towards validating Cyprus as the operational center for multinational companies and other services.

https://home.kpmg/cy/en/home.html

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