Though it boasts numerous locations across 14 countries, premium flexible workspace company The Executive Centre (TEC) is more focused on maintaining a high service standard than mass expansion. It’s not trying to be like other businesses in this realm that offer bright, funky workspaces and hip amenities. Instead, it provides a sophisticated experience to its professional clients.
“We are clear in our direction,” says TEC South-East Asia’s Managing Director Yvonne Lim. “We don’t do three-star service. Everything is five-star, from our office space to our customer service. We are one of the top three largest providers in Asia–Pacific with each office in the city’s CBD. We carefully plan each expansion, and we’ve achieved a growth rate of 20 per cent per annum.”
The majority of TEC’s members work in professional services like finance, law firms or technology. “Different regions have unique prevalent industries, but we aren’t targeting the startup,” Yvonne explains. “Most of our clients are from multinational companies, but there is a huge demand from the technology industry in South-East Asia.”
In October 2008, the year of the global financial crisis, Yvonne had just started working at the company. Many businesses scaled down during this time and were looking for ways to save on occupancy costs.
“I realised that flexible working spaces were becoming increasingly popular as an option during this time since so many companies were downsizing and looking for flexible options,” she recalls.
“We weren’t at the success level we wanted to be, but there was still a demand. This taught me that there are many strategic possibilities in this industry; it’s important how you differentiate yourself from the others, and how you provide the service standard that the client wants.”
This story is from the April 2020 edition of The CEO Magazine Asia.
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This story is from the April 2020 edition of The CEO Magazine Asia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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