Financial health is critical for all businesses, but especially for growing start-ups like Klook.
Does it surprise you that we have a sizable team of over 80 financial whizzes who are safeguarding our financial reports and managing risks and rewards across 9 teams - namely Business Finance, Corporate Finance, Financial Reporting, Finance Information System, Financial Planning & Analysis, Physical Inventory Control, Tax, Treasury, Internal Control?
We chatted with our Chief Financial Officer Shang Chuang, who shared with us his reflections on steering Klook out of the pandemic and shaping us into a stronger business than before, his leadership approach, and his advice to budding financial leaders. Read till the end for his travel recommendations!
Shang Chuang
Chief Financial Officer
Getting to know our CFO, Shang
It’s been 4 years since you joined Klook, Shang. What attracted you to us back then?
I was in the financial services industry for more than a decade after my studies, and I wanted to explore a different industry. What particularly attracted me to Klook was that travel is very relatable to me - and my parents! I often joked with Ethan (our CEO and co-founder), who also shared a similar career background to mine, that my parents could finally understand what I was doing for the first time, especially with Klook being a household brand name in Taiwan.
Second, I like the diversity at Klook, not just among our workforce but also consumers as we're providing global services to them. Third, I like how dynamic it is. I had met the cofounders Ethan and Eric as well as other colleagues before I joined and I loved the energy. Although I am probably older as compared to most employees or even consumers, I thought the vibe was great. I feel young working here.
Unleashing their inner child at Hong Kong Disneyland! From left to right: Klook’s cofounders Ethan Lin and Eric Gnock Fah, CPO David Liu, and CFO Shang Chuang
We know that C-suite leaders have a packed daily schedule. We’re curious to know: what does your typical work week look like?
I don't think there is a typical week here at Klook. There are some recurring catch-ups I attend with the Finance team or team leads every week. I speak with Ethan on a regular basis as well.
I’d say I generally split my work into three buckets - internal finance operations, meetings with external stakeholders and hopefully some strategy planning time for both medium and long term.
Glad you said so! At Klook, we love saying there's never a dull moment here given how we often have challenges to conquer. What's the biggest challenge you’d faced at Klook over the last few years?
I joined Klook in December 2019. Before I joined, the company was growing very quickly, more than doubling the revenue every single year. So when I came, I was thinking about how we could keep the momentum going and capture all the opportunities in the market.
But in a few months, it was a very different atmosphere. COVID-19 was a huge challenge, not only for the company but also for myself. Fast forward to the second quarter of 2020, our revenue was low – as most people would have guessed – since all travel activities were halted and we had to process a large number of refunds.
Although I'm not one of the founding members, I often share with Eric and Bernie that I helped rebuild the business with great teams over the last few years. Despite the challenge, it was rewarding to me.
Shang meeting our CTO and co-founder Bernie Xiong in Shenzhen
Building camaraderie within Finance Team 🤝
It’s amazing how the Finance team, yourself included, was able to react and pivot quickly in the face of these challenges. How did you overcome them?
We pushed the boundaries in both defense and offense. We thought: how could we restructure our cost for survival? How should we pivot and engage users in an environment where cross-border travel was not possible?
Our staycation launch in Hong Kong and focus on domestic travel in some other markets truly showed our company’s resilience. Along the way, there were waves of COVID, during which we constantly rebuilt our morale. Thankfully, we have an open feedback culture. The team bonded together and we’re doing even much better with our interpersonal communication this year. Our growth is double that of 2019. So not only did we survive the pandemic, but we came out much stronger.
Team bonding makes up a huge part of Klook's culture. And sharing laughter over meals is just one experience that brings us closer together!
As the head and hiring manager of our Finance business unit, how do you usually ‘sell’ our Finance team to prospective candidates or even to people outside of work?
I'm very proud of our Finance team. We’ve come a long way since I joined nearly four years ago. Not only have we increased and enhanced our output quality, we’ve also covered more functions and become an enabler in empowering business growth.
How I describe our Finance team to people is that we are partners of the business. Many people think finance is just accounting work, right? But it is not just about money - it runs through all different aspects of the business. There are a lot of ways for us to give input, monitor or manage risk while simultaneously accelerating business growth, making sure that the risks and rewards make sense. I really love that vision.
As for you and your team, how do you personally bring them together in terms of improving their dynamics and strengthening their bonds?
It’s about putting in the effort. During COVID, it was tough to be with colleagues in person, especially since we’re all spread across different offices.
I experimented with virtual team-building with our Finance colleagues once every quarter. The feedback was great despite a lack of physical interaction. We spent time getting to know each other, understanding everybody’s status and the challenges we were facing, and giving each other input. These efforts and activities helped the team bond better. Now that borders are open, I encourage the team to make time to meet their colleagues in person as well. That's also part of being a Klooker, making sure that we meet and connect with colleagues around the world.
It's not often the Finance team gets together but when they do, they go all in! This was taken at their Finance Summit in Shenzhen in 2023.
Shang's nuggets of wisdom on leadership 💭
As we all know, no one starts out as an excellent manager. What would your advice be about managing a team?
It’s important to understand your management style, personality at work, and work style. Once you figure that out, you can be more observant in terms of how you interact with different types of colleagues. From there, you can make certain adjustments in how you connect with your colleagues. The biggest challenge tends to be communication - people could feel like they have made a clear explanation to their colleagues, but the result isn’t what they’re looking for. Oftentimes, I’d ask team leaders: have you simply shared or explained what's on your mind?
Effective communication happens when there’s a connection between the minds. It’s about making sure the other person understands what you're sharing. It doesn't end just by speaking everything in your mind, but rather by ensuring the receiver is aligned and there's a consensus on what needs to be done.
With nearly 2 decades of finance, managerial and operation experience, what’s some advice you would give to budding leaders in the travel tech industry?
I often encourage my colleagues to try different new things. Maybe do a job rotation within the company, try out different finance functions from treasury and tax reporting to finance information system. It could also come from a place of interest, for example, venture into marketing, supply or even product design.
Getting close to other functions or learning about how they work will enable better collaboration. And I think collaboration efficiency often determines the competitiveness of our organization. My biggest advice is to stay curious and try out different rotations, as well as expose yourself to uncertainties and challenges.
A quick photo with Klookers from the People & Culture team and Finance team in Taipei to welcome the Spring season
To flip the last question around, what advice would you have liked to receive earlier in your career?
I’d say: be bolder. Our three co-founders are younger than me, and I very much respect their courage. They decided to establish Klook and developed it into a great business in their 20s to early 30s. So I think everybody can be more entrepreneurial. That doesn’t necessarily mean you must start your own business - there are many areas in our lives where we could put the spirit of entrepreneurship to good use. It will give us more satisfaction through various learning opportunities, and I'm sure the output of what we do will also be of higher quality.
If I could give the 20-year-old me advice, it would be to be more adventurous and ambitious.
Last but not least, his travel recommendations… ✈️
Our mission is to bring the world closer together through experiences. How do you personally relate to it?
Like I shared earlier, travel, in and of itself, is relatable. While there’s been some hype around Web3 and the virtual world, it’s great to see that even after the pandemic, people still very much love physical experiences – eating ramen in Japan, checking out Gardens by the Bay in Singapore, or even trying water activities in Taipei. I think all of those activities are part of learning about the world as well as getting connected with people in different places. And that can certainly bring people together. It’s why I think our mission is relatable too.
As a travel enthusiast yourself, what’s one travel destination that has left a lasting impression on you?
I was born in Taipei, so I'm a big advocate of Taiwan. There are a lot of different things to do, whether it is fine dining or nature scenery, adventurous activities, or arts - Taiwan has numerous attractions. The National Palace Museum is a must-go as it has so much history to learn about. My personal favorites are the Chinese ink-wash paintings.
Shang's trip to Iceland, known for its rugged natural landscapes including volcanoes, geysers, hot springs, and lava fields
But bias aside, Iceland's also interesting. It's the first country that’s powered by almost 100% green energy - the majority of it comes from lava thermal heat. We're all talking about ESG (Environmental, Social, and Governance), and we can certainly take inspiration from them on how we can become more sustainable.
Keen to play a role in supercharging the travel & experience industry?
Join our Finance team
Posted by Klook Careers
- Finance
- Leadership
