Insights

Advances in digital technology and artificial intelligence can significantly ease the strain on your accounting department, streamlining back office operations and opening the door to better, more in-depth and wide-ranging analysis of your company’s economic direction. Data-based simulations can integrate complex arrays of variables in order to highlight ripe areas of focus for your company, and can now do so more efficiently than ever.

As businesses look ahead to economic recovery in Thailand, some sectors have valuable lessons to learn regarding resilience and overall business strategy.

Because no two problems are identical, a one-size-fits-all service is not the ideal way out. Many issues can be adequately addressed only through carefully tailored solutions, adapted to the client’s own pain points. We find that these types of “out-of-the-box” services tend to exceed client expectations, while also remaining sensitive to their budgetary concerns. To illustrate how we guide our clients towards success, we share with you two different case studies, each beginning with its own set of problems.

Outsourcing lets businesses focus on their core operations, while letting specialists help with other responsibilities. Here we show how this approach can lead to major business improvements.

From Shared Service Centres, to Assisted Captive and Virtual Captive solutions, to Full Outsourcing, we review the various ways that companies can transform non-core activities to increase their overall agility.

This article explains how business process optimisation and robotic process automation can help businesses of all types and sizes increase their efficiency.

Faced with financial difficulties, businesses may be tempted to continue to handle their support functions in-house. But as we argue here, the more sensible option is to outsource non-core activities.

As they strive to meet the extraordinary challenges of the day, business leaders must also consider how they will adapt to the post-COVID-19 landscape.

All organisations are grappling with the myriad of employee agreements and obligations that result in a wide variety of payments to their people.

Startups tend to be comprised of young, dynamic people who are passionate about their work and emotionally invested in the company’s success. However, as the business grows more complex and market conditions change, startups sometimes struggle to implement proper processes. It is here that many fledgling companies begin to go off-course. Failure to organise the business correctly and make necessary adjustments can lead to slowdowns in workflow, stalling the organisation just when it is most in need of momentum. Lapses in regulatory compliance are another common side effect of inexperience, resulting in fines and loss of investor confidence. Having passionate workers is excellent, but startups must also implement clear strategies and efficient processes in order to ensure both regulatory compliance and long-term success.

As businesses strive to maximise growth and performance, they must always keep an eye on the changing environment around them. These changes typically occur among their customers or competitors, but regulatory policy can also have a big impact on business operations. The Thai government has recently enacted a number of policies, provisions and regulations to respond to new developments around the business world. These include the Personal Data Protection Act, new merger amendments to the Trade Competitions Act of 2017, and the Cybersecurity Act – all requiring potentially significant action among businesses operating in country.

Hendrik van den Berg is the Founder and Managing Director at Neos IT Services. Having founded the company in 2005, Hendrik and his diverse team have transformed Neos into a thriving business. I recently met with Hendrik to have a detailed discussion of business transformation and what it entails. The most fascinating insights from the interview revolved around the role of technology and cultural change in the transformation process.

Years after its inception, Blockchain remains a central focus of the tech world, thanks to its potential to revolutionise business activity in every sector. Yet when it comes to the actual integration and implementation of Blockchain technology into mainstream use and business value chains, people may be getting ahead of themselves. Public interest in Blockchain has largely been limited to the hype surrounding cryptocurrencies – and in some ways, the Bitcoin phenomenon itself is a useful metaphor for Blockchain as a whole. In both cases, while the potential for genuine disruption is great, the current level of excitement nevertheless seems premature, as a number of complex obstacles still need to be overcome.

True business transformation requires change to an organisation’s culture, processes and strategies in the face of shifting norms, digital disruption and evolving consumer needs. If done effectively, the benefits can be both immediate and long-lasting. However, transformation for its own sake is not a sustainable recipe for success. Before they begin the change process, companies must set clear goals to determine where they want to go and what enablers they will need to get them there. A clear plan for benefits realisation is critical to successful transformation.

From the outside, multi-generation family businesses often appear to be models of stability. Yet underneath the durable exterior structure, many such companies must deal with highly complex family politics and emotional components that affect how they operate and how they are led. Lack of cohesion and strategy during crucial processes – like business transformation and succession – causes the vast majority of family businesses to fail before they reach the third generation.

Most family businesses fail to survive past the third generation. Personal disputes, legal challenges, and other obstacles can tear family businesses – and sometimes entire families – apart. Fortunately, safeguards are available to help ensure a smooth transition between generations. The process of succession can be supported and facilitated before it even begins, with the help of a well-written family constitution.