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Business Process Outsourcing in Thailand

Transcript of the above video:

In this video today we are going to be discussing business process outsourcing as the title implies, that’s going to be the topic of this video. 

What are we talking about in the context of business process outsourcing? Well things like said accounting functions. In many of the cases we have clients that we provide business process outsources and services with respect to work permits issuance, business visa application, and business visa maintenance. We also assist in various aspects of dealing with what’s called Thai Social Security here in the Kingdom. We may also have to deal with things like the Revenue Department with respect to things like tax certification. We also may have to do with things like regulatory compliance in a business context.  So for example, our food and beverage clients may need things like alcohol licenses or restaurant licenses; these types of things.  This all falls under the kind of the rubric of business process outsourcing. Specific to accounting services, we have an accounting division that deals with various degrees of accountancy and business consulting assistance and by various degrees I mean some of our clients need relatively, I should say, they don't need as much hands-on support with respect to things like internal bookkeeping internal auditing, maintenance of internal cash books, cash accounts, just general business operational matters.  Some need more assistance in those things, some need a lot less; it also depends on the nature of the client in question.

So in general what we’re dealing with when we are talking about business processing are kind of, I don't know, the things that are more mundane that deal kind of more in a regulatory sense with the maintaining the operation of one's business but that really isn't one company's core business objective so if the company is in the business of creating television sets they don't really want to spend 18% of their time and resources on regulatory compliance, accounting compliance, tax compliance, work permit compliance, visa compliance; these kinds of things. That's where business process outsourcing services come in rather handy is somebody like us can take down the relative time spent on dealing with those sort of side issues, side matters, and can put that company back on track to undertaking its core business  objectives, to actually, in this case for this example it's hypothetical, making television sets. That's what they do; well let's get them back to spending all their time to making television sets rather than worrying about all these matters which is something that  a firm like ours is designed to handle and provide in such a way that it's efficient as well as hopefully quick, but also in such a way that we can liaise between foreign business people in such a way that they can fully understand what the ramifications are with respect to various decisions made, with respect to certain regulatory compliance and they can also understand timelines, time frames and just the overall implications of the various business processes that may also touch upon regulatory and legal compliance. They’ll fully understand, they’ll have a full spectrum of understanding of the overall situation so that they can be better informed and make better decisions with respect to their business.