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Updated: 1 hour 37 min ago

Benefits of accounts payable automation in financial management

11 hours 22 min ago

Many companies, especially ones in retailing industry—where accounts payable (AP) transactions with sellers and suppliers are significantly critical to business—have been investing in e-invoicing and accounts payable automation as an proactive approach to address those AP problems caused by traditional manual entry.

Getting rid of Excel in financial planning and budgeting: modern trend for CFOs

Wed, 07/23/2014 - 09:30

Reasons to get rid of Excel in financial planning and budgeting

Recent research by Anaplan, an expert on modelling and planning finance, sales and operations platforms, states that currently, Asia Pacific’s CFOs are still experiencing difficulties with spreadsheet usages in financial planning and budgeting. In addition, there was a relatively low satisfaction level with the accuracy, timeliness and ease of Excel use for planning and budgeting.

TRG gives gifts to lives at AmCham’s World Blood Donor Day 2014

Thu, 07/17/2014 - 09:05

Ho Chi Minh – July 2014 – The 4th Am Cham Blood Donor Day (WBDD) on 14 July 2014, received aid from dozens of large organisations in Ho Chi Minh City. As a common yearly activity, this time, TRG’s CEO and staffs joined in the event at New World Hotel, District 1. With our supports, we wish to accompany the event slogan “give blood for those who give life”.

9 ways to increase Hotel Profits: Part 3

Wed, 07/16/2014 - 09:30

As discussed in the latest blog, 3 ways to increase profits in hospitality management were matching staffing levels to demand; utilising the value of your inventories and understanding ROI of Marketing. Now let’s uncover part 3, which is the last one of the series 9 ways to increase your hotel profits.

Infor introduces two new features to SunSystems Query tool

Mon, 07/14/2014 - 09:30

The latest version of SunSystems Query and Analysis tool adds two new modules to make analysis easier for both techies and no-techies.

9 ways to increase Hotel Profits: Part 2

Tue, 07/08/2014 - 21:30

After years of slow and stubborn recovery, with constrained capital budgets, hotel owners and hotel operators are facing huge pressure to increase hotel profits as investors are becoming more confident for trade propelled growth, thus fuelling an increase in transaction activity and worldwide improvements in hotel operations.

9 ways to increase Hotel Profits: Part 1

Mon, 06/16/2014 - 12:30

Today, the hospitality industry in general and hoteliers in particular are faced with a daunting road that requires great flexibility especially in terms of finance.

6 ways to use technology to help shape up financial strategies (part 2)

Mon, 05/26/2014 - 14:13

McKinsey in a recent research reports that while 75 million people cannot have a job, yet many businesses have vacancies that cannot be filled, and that there is a gap between the current workforce’s skills and what employers want from employees. Especially in the finance and accounting world, where people need accuracy, concentration and speed, it is even harder for organisation to recruit and retain talents.

6 ways to use technology to help shape up financial strategies (part 2)

Mon, 05/26/2014 - 14:13

McKinsey in a recent research reports that while 75 million people cannot have a job, yet many businesses have vacancies that cannot be filled, and that there is a gap between the current workforce’s skills and what employers want from employees. Especially in the finance and accounting world, where people need accuracy, concentration and speed, it is even harder for organisation to recruit and retain talents.

However, technology will be one key factor to help solve this problem. In the previous post, we’ve discussed about the first 3 among 6 basic ways to use technology effectively to recruit and retain talents. Today, we are going to discuss the three remaining ways.

    4. Allow employees to work the way they live

      According to GMSA and PWC, in 2017, over 1.5 billion mobile connections will be established in Asia, and the growth of mobile technology in this region will be unstoppable. As a result, the workplace is also influenced by this trend.

      Despite the risks of data security, many businesses still decide to expand mobile access to core systems such as financial management to provide more information for employees in a fast-track, modern way. The results turn out that the employees love it because it can bring their job closer to their lifestyles, and employers can provide on-demand access to their workers at any time needed.

        5. Capture and use knowledge from all parts of your business

          Enhance collaboration among employees can be even more difficult when a company goes global since business units are diverse in many different areas and countries. Yet it is important for business to capture and use knowledge from all parts of the companies, for it will help develop competitive advantage over other big players in the market, and technology play a key role in this situation.

          There are two basic strategies to help increase collaboration among employees:

          • Implementing company-wide knowledge base: Store all information about company policies and procedures on one database that can be accessed with any company account in different geographies. Employees now can have a global view of the business process and use knowledge from other areas to improve work performance.
          • Using social business: Social business is the combination of social media + business process. It will create the familiar atmosphere when employees working and can help solve some old problems and new opportunities to get ahead. McKinsey Global Institute found that most employees devote 28% their working efforts on checking, composing and reading emails. With social business tools, email loads can be reduced by 20% to 25% and thus increase the time for other important tasks.
            6. Reduce bureaucracy

              The larger the business, the harder to manage all administrative tasks. The time wasted for these tasks, such as changing the phone number in internal system, or adding insurance plan, can be very frustrating. Everybody wants to spend time effectively and productively.

              However, companies can reduce the amount of time completing these tasks using the right combination of technology and policy. Research shows that companies applied technology into the company policy that have decrease 70% of HR intervention into these tasks, while still have confidentiality and privacy. Employees now have higher satisfaction around performing these tasks.

              Conclusion

              In multinational organisations, the demand for skilled workers, especially in the finance field increases rapidly despite the slump of the economy and the workforce. Being in that situation, attracting and retaining top talents is an initiative that needs attention and new ideas. Technology, of course is not a solution for all these problems, but it provides solid foundation for a unified talent management strategy to attract the best and the brightest, thus increase the financial performance and production at the same time.

              This is the end of our series “Financial leaders: Technology and Talent. Download our full whitepaper now for more information!

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              6 ways to use technology to help shape up financial strategies (part 1)

              Mon, 05/12/2014 - 13:44

              In the last post, we discussed about the current challenges of recruiting and retaining talents in organisations, especially in financial and accounting aspects. However, having a comprehensive system will enable top managers to manage human resources more effectively in the most effective way to compete globally. Today, we’ll discuss further on 3 among 6 basic ways to use technology to shape up financial strategies and increase financial performance.

              6 ways to use technology to help shape up financial strategies (part 1)

              Mon, 05/12/2014 - 13:44

              In the last post, we discussed about the current challenges of recruiting and retaining talents in organisations, especially in financial and accounting aspects. However, having a comprehensive system will enable top managers to manage human resources more effectively in the most effective way to compete globally. Today, we’ll discuss further on 3 among 6 basic ways to use technology to shape up financial strategies and increase financial performance.

              1. Get a unified view of talent worldwide

              When it comes to expanding your organisation worldwide, it is common for multiple HR and financial departments and multiple management systems to be in place. People tend to process their business from geography to geography, and this can create many issues in gaining company-wide visibility of their talent pools.  Without global view of existing talents, identifying needs and opportunities will become more difficult. Therefore, it is necessary to have a broad talent management plan throughout the organisation to create strategies for retaining talents, developing employees’ skills and leadership abilities for future needs as well as sourcing talent if needed, according to Deloitte’s recent research.

              Many top-notch companies are turning to unified human capital management (HCM) system to enable the execution of the plan. The system will help facilitate the data and processes in different management systems without forcing to eliminate all the systems. Information now can be linked together to provide one unified view, company-wide, from geography to geography without any hindrance. That way, employees will have more transferring/promoting opportunities, and employers can fill their talent needs better.

                2. Improve technology user experience

                  As discussed above, multi-national organisations often have a variety of system in use. Therefore, the level of technology experience is different across regions. Each operation has different dated applications that may cause as much problems as the solutions they solve. Especially in the finance field, management systems often lock companies into certain methods to handle key tasks, depending on the geography’s accounting standard and more, without the ability to flexibly changes in reporting and tax management in terms of global operation.

                  In addition, the expectation from employees towards software user experience is increasing due to technology advancement. They want the technology in their work to be mirror to what they use personally, especially the young ones.

                  Bottom line, user experience is more than just beauty. Employees can work in the tech environment that is familiar, consistent, enjoyable and more productive with high user experience. Job satisfaction and technology user experiences are closely entwined, therefore, company leaders should also consider user experience when making decision about management systems.

                    3. Remove IT as the information gatekeeper

                      As companies go global, it is essential to have analysis and oversight in areas like reporting, taxation and regulatory compliance. However, the resources available for performing these tasks are limited since technology is the main enabler for analytics and business intelligence tools. This requires a high degree of technical skills thus create obstacles for non-technical people who want to analyse information and use BI tools for their work.

                      The solution for this is simple: democratisation of data (see our previous posts for more information). It gives end users the direct access to business data and thus improve their performance. Additionally, BI tools with contextual analytics function can provide end-user the information they need automatically when they are doing their job and decisions can be made at the right time and the right place with high accuracy.

                      These are the first 3 among 6 ways to use technology to enhance financial strategies in your company. Stay tuned to our next post with the three remaining 3 ways!

                      Eager for more? Download our full report “The global financial leadership series: Technology and Talent” today!

                      //

                      10 steps to 21st century Business Intelligence and Performance Management (Part 2)

                      Tue, 04/29/2014 - 11:58

                      In order to make the most optimization decision, managers and executives must ensure that all business processes are supported with meaningful, proactive information. Business Intelligence is one of the key technologies that help companies to successfully deliver information and transfer them into strategic plans. In our last post, we discussed about the first 5 steps to help create harmony concept between business intelligence (BI) and performance management (PM) for better business performance. The next 5 steps are to address organisational needs as well as challenges in order to direct BI and PM in the right path.

                      10 steps to 21st century Business Intelligence and Performance Management (Part 2)

                      Tue, 04/29/2014 - 11:58

                      In order to make the most optimization decision, managers and executives must ensure that all business processes are supported with meaningful, proactive information. Business Intelligence is one of the key technologies that help companies to successfully deliver information and transfer them into strategic plans. In our last post, we discussed about the first 5 steps to help create harmony concept between business intelligence (BI) and performance management (PM) for better business performance. The next 5 steps are to address organisational needs as well as challenges in order to direct BI and PM in the right path.

                        6.       Identify the types of data you need to access and analyse

                          Most organisations agree that providing access to data through various methods is an important goal to provide the exact BI tools needed. Data types related to business activities such as financial data and customer data are also essential for business to determine what BI tools they would choose to generate.  Moreover, the needs to access data from spreadsheets or transactional data from enterprise systems such as CRM or ERP are also an important factor that helps determine the right BI tools and systems. Hence, in order to apply BI to PM to the best use, companies should identify the types and sources of data they need most often and evaluate tools based on that to help you to do so.

                            7.       Adopting or expanding metrics for PM

                              To develop good performance management, managers must have ability to measure and track actual performance based on forecasted data accurately. Consequently, you should have a standardised library of metrics to determine what metrics are most suitable to your current state. Monitoring performance activities and processes using metrics can contribute a lot to the improvement of the organisation. Identify which processes and employees that are likely to perform better when metrics are applied to evaluate their performance, and then deploy suitable BI system to manage those metrics.

                                8.       Address organisational barriers to improve BI and PM

                                  Although organisations acknowledge the needs to improve and develop its business process every day, there are always barrier. The most cited barriers are lack of resources and budget, followed by the lack of awareness and lack of executive support. To overcome this, you should come together and discuss about what barriers that your organisation currently encounter and choose the best way to implement BI into your business while still keeping the cost in control (See out previous posts 5 ways to optimise BI solutions in an easy and cost-effective manner for more information).

                                    9.       Look Into alternative means of software deployments

                                      Beside choosing suitable BI tools and optimise them by using various techniques to drive down costs, companies can also choose hosted software which is managed off-site, or rent software as a service based on demand. This means you can save your costs of implementing and human resources for deploying BI systems on-site in an established manner. These options can help you overcome barriers such as lack of resources or lack of executive support. However, you will rely on outside providers in your BI implementation; but still, organisations should consider both ways to choose in order to bring the best solution to the problem.

                                        10.       Examine software to be deployed across roles in the enterprise

                                          Managers are found to be the most assertive people to plan and evaluate new products and new management systems, regarding their decision-making role in the organisation. The evaluation must be based on realistic and critical criteria: usability – whether the software meets the business needs, functionality – the software capabilities. By considering the breadth of required implementation from software to support BI and PM will give you a criterion to evaluate products and vendors to demonstrate the usability and appropriateness of their products for your use.

                                          In summary, in order to successfully combine BI to PM, organisations should consider its state of maturity, its current needs of organisational BI, its data types and sources as well as the adequacy of the current BI tools to find out what is missing in the system and bring out the exact and effective solution.

                                          You can view the original article here.

                                          About the author

                                          Ventana research - Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. Ventana Research provides the most comprehensive analyst and research coverage in the industry. They deliver education and expertise to their clients to increase the value they derive from technology investments while reducing time, cost and risk. You can reach them through blogs and social media on TwitterFacebookLinkedIn and Google+.

                                          //

                                          10 steps to 21st century Business Intelligence and Performance Management (Part 1)

                                          Mon, 04/28/2014 - 11:42

                                          Although Performance Management (PM) and Business Intelligence (BI) can work separately, almost all leading organisations combine these two together to provide the best business results. PM uses the power from BI to get the data and information needed to make decisions, and PM adds context and guide BI in a certain direction benefiting the organisation. In previous posts, we discussed about how to optimise BI for SMEs as well as the way to operate BI platform in the right way. To explore more into how to enhance BI in your PM processes for greater results, we will look at some findings and recommendations to solve this problem.

                                          10 steps to 21st century Business Intelligence and Performance Management (Part 1)

                                          Mon, 04/28/2014 - 11:42

                                          Although Performance Management (PM) and Business Intelligence (BI) can work separately, almost all leading organisations combine these two together to provide the best business results. PM uses the power from BI to get the data and information needed to make decisions, and PM adds context and guide BI in a certain direction benefiting the organisation. In previous posts, we discussed about how to optimise BI for SMEs as well as the way to operate BI platform in the right way. To explore more into how to enhance BI in your PM processes for greater results, we will look at some findings and recommendations to solve this problem.

                                          Findings

                                          Despite major investments in technology, many companies are still relying on spreadsheets, presentations and emails as the main BI tools for information analysis, although these tools are not designed to optimise organisational performance. As organisations grow bigger in size, the number of daily data that one must handle every day will increase dramatically, henceforth spreadsheets cannot help data analyst shorten the working time; they need something more flexible and informative. For example, BI tools such as metrics and dashboard enable organisations to provide better information for decision making and feedback, enhance communication and collaboration within the company, thus improve the overall performance.

                                          Fortunately, according to Ventana’s research, the demand for both PM and BI is strong.  Organisations’ goals when deploying BI tools are to provide different tools to access data (57% of participants), to enable easy analytics application to the data (61%), and to communicate and collaborate the analysis results throughout the company (55%). However, the use of BI and PM of these organisations only reaches moderate maturity level due to limited budget and lack of confidence in applying BI..In consequence to these findings , here are the first 5 among 10 steps to help proceed to 21st century business intelligence and performance management.

                                            1.       Assess your organisation maturity in BI and PM

                                              A recent survey from Ventana in 2013 revealed that only 15% organisations reached the “innovative” level of 4 functional categories of maturity (Process, People, Information and Technology) and the rates between each category are also fluctuated. Specifically, 11% companies are at innovative level as for the Information component while 22% organisations reach this number in the People category. Information maturity is only achieved if the data is easily accessed and communicated throughout the organisation. Companies are recommended to examine their capacities in each functional category and research from the best practices to learn how to gain organisational maturity.

                                                2.       Consider the effectiveness of your current BI tools and applications

                                                   A large number of organisations has doubt in the use of BI in PM (only 12% claim that they are completely confident of their BI technology; and 9% uses the tools and applications for performance management process). About one-third of participants is confident about either BI and PM (35% and 36% respectively), and executives have stronger confidence in both cases than managers and analysts, surprisingly, since the latters should be the ones who have more experiences in using BI and PM tools. Hence, organisations should examine the effectiveness of current BI applications and identify which tools to be replaced for easier use.

                                                    3.       Reduce the number of BI tools and the use of spreadsheets

                                                      Spreadsheets can be extremely effective to analyse data and provide what-if analysis based on various functional tools such as macros, pivot tables, filters, etc. However, when the demand for data analytics communication and collaboration within the company increase, spreadsheets can no longer satisfy the needs. Users encounter errors and data conflicts easily and such errors can mostly be fixed after communicating the spreadsheets among colleagues, which is time-consuming and costly. The way to solve this problem is to reduce the number of BI tools that you have found ineffective in step 2 and standardise the tools to a complete and neat system.

                                                        4.       Compare the BI capabilities you have with those you want

                                                          Almost all organisations have deployed or are deploying basic BI capabilities, such as accessing data from spreadsheets, generating reports from data or querying sources for specific data. However, only a few actually extend to advance BI capabilities with more effective use of BI than others, such as collaborating on data and metrics, conducting what-if analysis and applying analytics to data, etc. Therefore, before deploying any advance BI capabilities, companies should compare what it has to what it wants and determine the exact products that can provide them those functions, to avoid any unexpected costs could occur.

                                                            5.       Determine current products’ ability to handle performance management

                                                              The most important and significant goal in performance management is to transform information to actions and align them to organisation goals and strategy for effective improvement. The use of BI tools can help you just that. However, there are doubts about the effectiveness of BI tools in performance management since they received lower results than expected. The trick here is to look at the adequacy of the tools and systems used to manage business performance and determine what tools are more cost-effective and productive than others.

                                                              ***

                                                              In the next blog entry, we will discuss the remaining 5 steps to combine Business intelligence to performance management in the most effective way.

                                                              About the author

                                                              Ventana research - Ventana Research is the most authoritative and respected benchmark business technology research and advisory services firm. Ventana Research provides the most comprehensive analyst and research coverage in the industry. They deliver education and expertise to their clients to increase the value they derive from technology investments while reducing time, cost and risk. You can reach them through blogs and social media on TwitterFacebookLinkedIn and Google+.

                                                              //

                                                              10 golden rules of project risk management (part 2)

                                                              Fri, 04/25/2014 - 11:32

                                                              Risk management is an irreplaceable part of any enterprise in order to run every business project more effectively, safely as well as less costly. However, not all project managers have enough time, effort and teams to identify the risk correctly and take action ontime to prevent the risks to become real problems. In the last post, we discussed about the first 5 golden rules of project risk management. Today, we're going through the remaining 5 rules in risk management:

                                                              10 golden rules of project risk management (part 2)

                                                              Fri, 04/25/2014 - 11:32

                                                              Risk management is an irreplaceable part of any enterprise in order to run every business project more effectively, safely as well as less costly. However, not all project managers have enough time, effort and teams to identify the risk correctly and take action ontime to prevent the risks to become real problems. In the last post, we discussed about the first 5 golden rules of project risk management. Today, we're going through the remaining 5 rules in risk management:

                                                              Prioritise risks

                                                              Some risks have higher impact on your project than others, therefore it is necessary for you to categorize your risks and then write them to your priority list. The criteria to prioritize risk are mostly the probability of that one risk to happen compare to others or the impact of that risk on your project (objectively). Focusing on the main risk that may be more likely to cause you big losses is one way to help reduce threats that put your project in danger.

                                                              Analyse risks

                                                              There is no way you can solve a problem without clearly understand its root causes. Risk management is the same. Understanding the nature of a risk helps you create solid base for a good response.

                                                              Project managers should know about the occurrence level of risk analysis. In individual level, it is better if you analyse the risk based on the effects it has and its causes. Regarding the effects, you can identify which effect is taking longer to happen and which effect happens immediately. In addition, there might be some effects that take over the previous ones such as lead time, costs and product quality.

                                                              The other level of risk analysis is by observing and investigating the entire project. Such topics as budget planning or financial forecasting, by taking risk analysis into account, will have a clearer destination to go. The information you get from risk analysis will provide you valuable insight of your project, and as a result, will help enhance your project performance.

                                                              Plan and implementing risk responses

                                                              In order to have a risk response plan that focus on the big wins, plan and implementing risk responses is essential. If you are dealing with threats, there are three options recommended for you: risk avoidance, risk minimization and risk acceptance. Risk avoidance means you will organize your project in a way that eliminates all possible risks. In some cases, this could even mean terminating a project if the risk is fatal.

                                                              Secondly, risk minimization is to come out with solutions to reduce its negative impacts to your project as effective as possible by influencing on its causes. The final option is to accept that risk. If the risk is not critical and has little effects on your project, this is technically a good choice. Risk acceptance should only be made consciously.

                                                              As for risk opportunities, you will either focus on seeking and maximizing them or ignore if the opportunities and their impacts are too small.

                                                              Register project risks

                                                              This rule is all about keeping archives of risks (risk log), which enables you to view progress and not to miss any risk. You can also use this as a risk communication tool for your team members and stakeholders to inform them what is going on (rule #3).

                                                              A good risk log should include descriptions, risk ownership issues and status, risk’s cause and effect (rule #5 and #7). Because the number of risks is large, therefore this makes the whole controlling and managing process easier.

                                                              Track risks and associated tasks

                                                              This rule acts as a result of rule 9. Tracking risks is a day-to-day job for each project manager, and in order to keep a proper record on risk and its related courses for further project planning, this is necessary.

                                                              These 10 rules of risk management only give you a guideline to have a deeper view about how to implement risks successfully in your project. There are still ways to improve your project management skills further, it is recommended for you to use the Kaizen approach in measuring the effects of your efforts to be better in the future.

                                                               

                                                              This article originally appeared Project Smart by Bart Jutte

                                                              About the Author

                                                              Bart Jutte is a founder and consultant at Concilio, a NL based company specialising in project risk management. Concilio offers consultancy, training and sells its own easy to use risk management software.

                                                              //

                                                              10 golden rules of project risk management (part 1)

                                                              Thu, 04/24/2014 - 11:20

                                                              Ever since the economy crisis in 2008 – 2009, organisations have to face with a lot of changes in order to adapt with the fluctuated environment as well as to ensure their survivals in the competitive market. Recent survey conducted by the Economist Intelligence Unit in March 2013 has found out that firms are slowing down their recovering process and paying more attention to risk management (Apostolik, R, 2013). As a result, effective and accurate risk alignment will help minimise the impact of threats, maintain project’s timeliness as well as keep the actual costs on track with the budget. Here are 10 golden rules to help managers to manage project risks effectively.

                                                              10 golden rules of project risk management (part 1)

                                                              Thu, 04/24/2014 - 11:20

                                                              Ever since the economy crisis in 2008 – 2009, organisations have to face with a lot of changes in order to adapt with the fluctuated environment as well as to ensure their survivals in the competitive market. Recent survey conducted by the Economist Intelligence Unit in March 2013 has found out that firms are slowing down their recovering process and paying more attention to risk management (Apostolik, R, 2013). As a result, effective and accurate risk alignment will help minimise the impact of threats, maintain project’s timeliness as well as keep the actual costs on track with the budget. Here are 10 golden rules to help managers to manage project risks effectively.

                                                              Make risk management as part of your project

                                                              No project runs to its successful end without encountering some faulty approaches and problems on its way. Managing a project without proper risk management may leads to the late identification of threats which can bring your projects faster to its end, but towards the opposite side. Make risk management a part of your project will help you minimize the probability of encountering problems and recover from any accidentally shut-down quickly.

                                                              Identify risks early in your project

                                                              This is the first step of project risk management in order to run your project smoothly. There are many methods to identify risks, which come from two sources: people and paper. People are the ones working with you in that project or people from outside your company, experts or even colleagues in different departments. Each person has their own experiences and personal insight that can help you gain the most complete view of what bad things can happen to your project in the future. Paper refers to both paper reports and online documents that present a certain amount of information about whatever you need to know about in order to identify the risks correctly. Old project plans and reports are also a good paper source for you to dig in.

                                                              Of course, these sources do not help you to identify exactly all risks but will help you find the majority of risks by different analysis methods in the meantime and allow you to save the remaining time for the remaining unexpected risks.

                                                              Communicate about risks

                                                              Project is what requires teamwork in organizations to produce the best outcome for the company because teamwork can help the leader to foresee risks he cannot do while working alone. However, not all project managers are good at risk management. One good approach recommended to you is including risk in the team meeting agenda. This will emphasize the importance of project risk management and help team members to easily discuss and report about risks in based on their findings.

                                                              Consider both threats and opportunities

                                                              The view of risk has changed from the image of ‘bad guy’ to ‘the guy who actually can provide us positive changes’, which is, in other words, uncertain opportunity that can benefit your project and organization. It helps the project to run faster, better and produce richer results. However, the majority of project teams do not have enough time to finish works before deadlines, and only negative risks matter in this situation. It is recommended that the team should have effective time management to create spaces for the project opportunities. Most of the time, opportunities that you have missed may create big impact without much investment of money and resources.

                                                              Clarify ownership issues

                                                              It will be easier for project manager to manage risks by assigning certain risks to certain people. This means for each risk found you will assign it to one person in your team to optimize this risk to the project. It may create uncertainty and uncomfortable feelings for them at first, but as it is their responsible, they will soon be motivated to carry out ways to decrease threats and find more opportunities for the project.

                                                              In the next post, we’ll continue to discuss about the remaining 5 golden rules to stay away from project risks. Stay tuned!

                                                              This article originally appeared on Project Smart by Bart Jutte

                                                              About the Author

                                                              Bart Jutte is a founder and consultant at Concilio, a NL based company specialising in project risk management. Concilio offers consultancy, training and sells its own easy to use risk management software.

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                                                              How companies can improve their corporate financial report

                                                              Thu, 04/17/2014 - 11:32

                                                              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.

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