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.

Today, as we navigate the complexities of modern finance, the challenges faced by accounting professionals are multifaceted. This seminar will guide us through these hurdles, shedding light on the intricate balance between compliance, precision, and the evolving expectations within the accounting realm.

The Ministry of Commerce recently withdrew its endorsement of Thailand joining the CPTPP over concerns that the trade deal may harm farmers.

Business leaders must quickly adapt and redesign their operating models and technology platforms to stay afloat during the COVID-19 pandemic.

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.

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.

I recently met with Richard to discuss how British businesses can establish themselves and prosper in Thailand. The two most salient points he made were about the imperative of understanding the complexities of the Thai market, along with the need to foster strategic local partnerships.

A recent Grant Thornton survey of over 300 senior executives found that 89% believe the CFO of the future will require much stronger data analytics skills – and fully 75% plan to upgrade their personal data analytics skills in the coming year.

In Part 1 of this article, we examined the importance of speed, flexibility, and successful adaptation in the current business climate.

In the natural world, the big winners are not always the strongest or fastest, but rather the ones that are best at adapting to changes in their environment. The business world follows similar rules – and its current environment is changing more rapidly than at any time in history, thanks to the digital revolution.

The vision for Thailand 4.0 is certainly ambitious, and is extremely well adapted to the digital economic stage that the world is now entering. But is that vision also well adapted to Thailand itself? Can this moderately advanced Southeast Asian nation handle the weight of its own development plan?

Much has been made of the Thai government’s commitment to developing a modern industrial base. In large part, the praise from the business community has been deserved. Concerted efforts include a range of initiatives, from a detailed program of BOI incentives, to the fast-tracking of business permits across industries, to the ambitious upgrades in infrastructure and government support that are making the Eastern Economic Corridor a highly promising region for manufacturing.

The global demand for Robotic Process Automation is rapidly increasing as businesses seek to harness enterprise technology to streamline processes and increase productivity.

A thought leadership, article and research from our experts to help empower your business strategy.

After deciding on a vision, there are two main barriers that generally prevent companies from following through on their initial ideas: Money, and expertise.

The reluctance is understandable. Your business has showed good signs of health for years (or decades), in large part because you’ve concentrated on creating value in the field you know best. Within a short span of time, you’ve begun to hear plenty of talk about the need for businesses to transform themselves for entry into the digital world.