Rick Yvanovich/Founder & CEO/
With TRG International Blogs, it is our mission to be your preferred partner providing solutions that work and we will make sure to guide your business to greatness every day.
In two previous posts, we have discussed some issues with annual reports and financial reviews of companies in Vietnam. What can be done to improve them? Preparing a financial report is an art that requires authenticity rather than a motive to polish a company’s image.
In the previous post, we have touched upon the current issues with annual reports in Vietnam. The financial review in an annual report, including financial statements and footnotes, is of particular interest to investors. Nonetheless, there are differences between the way this section is approached in Vietnam and in Western countries such as the US and UK due to legal, social, cultural and political dissimilarities.
Annual report – As sad as it may seem, the concept of preparing/using the document is still a grey area in Vietnam. According to the Ministry of Finance, to date there are 1,690 public companies in Vietnam, 704 of which are listed in 2 stock markets. However, in 2011, only 21 out of 695 listed companies sufficiently met mandatory regulations regarding information disclosure.
According to SIG (2014), analysts are predicting that social media and social apps will become a more significant component of the ERP landscape. Becoming more social can improve your company’s agility and facilitate competitive advantage. Making your enterprise social brings the power of the back office to the front office, helps customers collaborate, and drives growth.
In the last post, we have introduced the basic understanding of social ERP and collaboration concept in manufacturing as well as their benefits. Of course, manufacturers cannot build a successful collaboration strategy without a pragmatic, goal-oriented strategy to take the best advantage from social ERP.
The rise of new social media platform such as Facebook, LinkedIn, Twitter, Tumblr and many more is create an evolution in every aspect of the world, including business. ERP is not an exception of the tide of social media sweeping across the technology world. Today, the software applications will be expected to have the ability to provide users the communication and interaction needed within the organisation the way they’ve done in Facebook and other platforms.
Research shows that globalisation trend is growing. With all the technologies, internet and the vehicles they empower from e-commerce to social media, the world continues to be smaller since information now is more accessible, and business opportunities follow it become broader to catch.
Gartner’s 2008 CIOs survey highlighted that Business Intelligence (BI) is now one of the top priorities in business. BI is known to have positive impact on business performance of an enterprise, dramatically improving the ability to accomplish the mission by making timely and smart decisions at any level of the business.
In the previous posts of this “Managing your business in a volatile climate” blog series, we discussed about a renewed focus on risk management, business forecasting and new technologies that businesses can leverage to stay competitive in a volatile market. In this articles, the last post of this series, we will discuss about improvement of businesses responsiveness to volatility by capitalising on core processes and technology investment.
In our last post on how to manage your business in a volatile climate, we mentioned that organisations can focus on measuring the right things, forecasting accurately and managing risks to its advantage and achieve their goals. In this articles, the second post of the series “Managing your business in a volatile climate”, we will discuss how new technologies can help businesses maintain their competitive advantages.
© 2014 TRG International. All right reserved.