“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is most adaptable to change.”
History House at 133 Macquarie St, Sydney, was built in 1871 and may seem like an unlikely spot for discussing disruption, however this week that’s exactly where TPH Insolvency and Encompass Corporation came together to host a conversation about how the Insolvency and Restructuring industry in Australia is changing.
More recently, History House has also become the location of a new and dynamic insolvency practice and customer of Encompass; TPH Insolvency. The practice, which was started by experienced industry professional Tim Heesh, is among a growing number of Insolvency firms subscribed to Encompass. Tim wants his new firm to proactively take advantage of the waves of change sweeping through the business world in general and professional services in particular. It was discussion around this topic and the role of Encompass in achieving this mission, which led to Tuesday’s event.
The evening centred around three interactive presentations from industry figures representing the intersection of disruption, innovation and insolvency, which set the scene for a stimulating collective conversation on the topic: “Insolvency – Due for Disruption”
Gavin Heaton (Analyst & Digital Commentator) provided clarity as to what ‘disruption’ really means and discussed the indicators that signal an industry that is ripe for shake-up.
Tim Heesh (CEO, TPH Insolvency) used his twenty years experience to reflect on the state of the insolvency industry today and what disruption means for the turnaround business.
Steve Karro (Encompass) explored the insider’s perspective and what it is like to restructure the restructurers when tools such as Encompass can help.
And the ‘take away’ from the discussions? The major ongoing force impacting a range of markets has been technology development, which has caused massive and very rapid changes – disruption. The Insolvency industry is no exception. Long established ways of buying and selling insolvency services need to evolve at speed and those working in the industry need to be open to new technologies and approaches in order to survive and capitalize on the disruption.
The insolvency profession has been under considerable scrutiny in the past few years with great community and regulatory pressure for improving quality, integrity and value for money. In many ways, it is a sector ‘due for disruption’. TPH Insolvency plans to take advantage of this upheaval by being an enthusiastic, early adopter of the emerging technologies that allow back office processes to be dealt with more efficiently and cost effectively. This in turn allows Tim to focus his experience and value add where it really matters. His skill is in assisting clients and their referrers to make wisest choices in what are usually the difficult and stressful times.
Through information partners, including SAI Global, Encompass has fast become a ‘must have’ for any professional undertaking corporate or property research by providing a visual information management solution that enables users to increase operational efficiencies and differentiate their service.
For more information
About TPH Insolvency: www.tphinsolvency.com.au
Download the Encompass’ ‘Reshaping Insolvency’ white paper here
Read Steve Karro’s article in the Institute of Chartered Accountants Charter, ‘How to prepare your business for digital disruption here
If you’d like to see the Encompass software in action for yourself, request a demo here.