Names of Recipients:
Mr. Aewin Ng
Ms. Jocelyn Lim
For every company, they all wish for their employees to constantly improve, so that they would be able to contribute their learnings into the advancement of their company. To facilitate this, companies would send their employees to various training courses. But when training ends, employees often slip back into their daily routine of work, their training soon a thing of the past as not actively applied. How then, is it possible for companies to ensure that the training, regardless of classroom training, e-learning, on-the-job training, stretch project, etc are relevant and effective to the growth and profitability of the company?
Enter FP Consultants International Pte Ltd, a company that provides corporate training along with web application solutions that enable companies to gain insights on their learning investments; that is whether the training are relevant and effective to the growth and profitability of the company; and if so, what is the quantifiable performance improvement (productivity) and learning gains returns on investment (ROI).
FP Consultants started in providing continuous professional development training for the accounting and finance professional through its accreditation with ACCA (UK); SOX Institute (USA); and IE Singapore. It provides a broad range of courses and certification programmes in auditing, management accounting, corporate governance, financial reporting, enterprise risk management, CSOX Certification; Free Trade Agreement (FTA) Certification. Though its accreditation with the Chartered Institute for Securities & Investment (UK), it offers 12 modules that separately lead to various certifications in Investment Operation; Wealth Management; Investments & Risk in Retail & Wholesale Banking in Securities and Derivatives.
But what makes FP Consultants unique is the use of its proprietary and patent pending board games in their corporate trainings for clients since 2007 for topics relating to finance, accounting and operational risk management. The board game learning tool turns a boring and technically dry subject such as finance, accounting and operational risk into a fun, interactive, engaging learning experience that accelerates the internalization of concepts, application of theories and retention of learning. Almost all participants successfully grasped and applied these complex theories and concepts within one-day of game play.
FP Consultants believes in its obligations to help learners apply their learning at work to achieve the expected learning-driven performance outcome. Although they are confident that their game-based learning programme has positive influence on their clients’ productivity, their clients were unable to monitor and measure the impact due to lack of know-how, IT and manpower resources.
Breaking away from their comfort zone and area of expertise, the founders bravely ventured into software development with the goal of delivering a product that could help their clients monitor and measure the effectiveness of learning and development projects. Their journey was fraught with unexpected twists and turns.
Initially, they appointed an IT vendor to develop the project but after one year of development, the vendor failed to deliver a fully working software. Their financial reserve was almost depleted by then but they saw a unique and promising opportunity to fill the vacuum as most investment decisions involves accountability of returns (ROI), with the exception of the training industry which is lagging behind. They struggled very hard to raise funds from relatives and angle investors but to no avail since the two founders have never dealt with software development before. As a last resort, they sold their private condominium and downgraded to HDB flat in order to raise funds for the project. After the funding issue was settled, their newly formed in-house software engineering team unexpectedly resigned on 24-hour notice due to some internal miscommunication issues. Fortunately, once the miscommunication was cleared, the team returned and stayed on being very committed to the project and vision of the company till today.
Majority of their employees sacrificed and accepted salaries below market rate to join them and are still with the company because they believed in the founders’ vision. Aewin and Jocelyn know that the journey to success is a team effort. They have always given their employees the trust, autonomy, respect and flexibility they need to complete their task. At times when there are tight deadlines, few of the staff voluntarily worked overnight without the founders’ knowledge until much later.
After more than two years of development, excluding the initial blip, the web application was finally soft-launched at about the same time as the Singapore Workforce Development Authority’s (WDA) launched of the Enterprise Training Support Scheme (ETS) in April 2013. The ETS scheme provides about S$350,000 per enterprise to fund their HR capability development programme that includes learning gains measure. All training organisations approved by WDA for the Workforce Skills Qualification (WSQ) subsidy must comply with its continuous improvement requirement, which included reporting of learning gains, an accountability measure for using taxpayers’ money disbursed through WSQ funding.
Today, FP Consultants is one of the unique players with an end-to-end solution poised to serve the training industry, thanks to the determination and foresight of its founders. They are perfectly positioned to capitalise on the government’s drive to improve the human resource capability of local enterprises through the newly launched ETS funding scheme. WDA’s Quality Assurance Division, after reviewing and testing the application, commented that the application definitely enhances the efficiency of data collection and evaluation for the purpose of learning gains measure.
They are also in discussion to collaborate with Singapore’s leading training association, offering its unique learning gains measure solution to serve the training industry in Singapore, as well as across the ASEAN market.
Without resting on its laurels, they are constantly keeping their pulse on the market, designing and adding new modules and features in respond to market needs and feedbacks. A series of breakthrough modules/products have been planned over the next few years.
After braving all the difficulties to get to where they are today, Aewin and Jocelyn are well aware of what it takes to get to the top. “You need to possess the tenacity, the perseverance to adapt to what is happening currently.” Jocelyn said. “There are also many personal sacrifices you have to make, so you cannot be afraid of that.” Aewin then added, “But most importantly, you must have integrity, honesty, and sincerity when it comes to dealing with your employees, partners and clients. They need to know that they can place their trust in you.” In addition, as creators of niche products, Aewin and Jocelyn know that being unique can go a long way into aiding your business, “You have to offer something that the market needs, something different and unique. It would not be wise to simply go blindly into the competition without something new to offer.”
Their enthusiasm, experience, commitment and expertise for their business are much inspiring. Thus, we are confident that both Aewin and Jocelyn will continue to lead FP Consultants to greater pastures in the very near future.
10 Ubi Crescent Ubi Techpark Lobby C
T| 6749 0313
F| 6749 0193