As one of three KPMG member firms in Vietnam, KPMG Tax and Advisory Limited is one of the largest professional services providers in Vietnam focusing on tax and advisory services.. As be
Overview about KPMG Vietnam
History of KPMG in Vietnam
KPMG was first established in 1987 under the merger of Klynveld Main Goardeler and Peat Marwick International 3 KPMG is the brand name of all member firms of KPMG International Limited, a private English company limited by guarantee KPMG was known as one of the largest professional services providers with services of Audit, Legal, Tax and Advisory Each member firm is a separate legal entity and is a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited Each member firm is responsible for its own obligations and liabilities which are out of responsibility of other member firms as well as KPMG International Limited KPMG member firms are normally locally owned and managed In Vietnam, KPMG began its first present in 1994 (with the legal name of KPMG Limited) and has been one of the largest professional services firms in Vietnam Until now, KPMG limited with its accounting services has been still ranked as one of the big four firms in the world As of the present, there are three KPMG member firms under KPMG Vietnam including KPMG Limited (delivering audit, assurance and related services), KPMG Tax and Advisory Limited (offering tax, advisory services), and KPMG Legal Limited (providing legal services), incorporated under the Enterprise Law of Vietnam, closely working with each other 4
Consulting services are provided by KPMG Tax and Advisory Limited and hereafter in this report the company will be referred to as KPMG T&A From now on, “KPMG Vietnam” is to indicate all KPMG member firms incorporated in Vietnam KPMG T&A could be afterward called “the firm”
3 KPMG Rumania SRL, (2021) History [online], Romania: KPMG SRL, Available at: https://home.kpmg/ro/en/home/about/overview/history.html [accessed 20 Aug 2021]
4 KPMG Vietnam, (2020) Transparency Report for KPMG Limited [online], Vietnam: KPMG, 37, pp 02-03 Available at: https://home.kpmg/content/dam/kpmg/vn/pdf/transparency-report/2020-KPMG-TR-report.pdf [accessed 19 July 2021]
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Key information of KPMG T&A
Name: KPMG Tax and Advisory Limited
1 st June 2015 (KPMG Tax and Advisory was officially established of the business separation from KPMG Limited under the 1st Investment Registration Certificate No
011043002896 issued by Hanoi People’s Committee) 5
Headquarter: 46 th Floor, Keangnam Hanoi Landmark 72 Tower, Plot E6, Pham Hung street, Cau Giay New Urban Area, Me Tri ward, Nam Tu Liem district, Hanoi
Website: https://home.kpmg/vn/en
KPMG T&A currently has offices in Hanoi, Ho Chi Minh City and Da Nang, with a headcount of 755 professional employees In fact, KPMG Tax and Advisory Limited, KPMG Limited, and KPMG Legal Limited have the same offices across Vietnam The total professional employees of three firms are more than 1,700 6
46 th Floor Keangnam Hanoi Landmark Tower, Plot E6, Pham Hung street,
Cau Giay New Urban Area, Me Tri ward, Nam Tu Liem district, Hanoi
Ho Chi Minh City (Branch office)
No 115, Nguyen Hue street, Ben Nghe ward, District 1, Ho Chi Minh city
5 The internal document provided by the Administration Department
KPMG Vietnam, a reputable consulting firm, offers comprehensive services to clients in Vietnam With a focus on audit and assurance, tax and legal, consulting, and risk and compliance services, KPMG Vietnam aims to help businesses navigate the complexities of the Vietnamese market The firm's team of experienced professionals leverages global expertise and local knowledge to provide tailored solutions that meet the specific needs of its clients.
Unit D3, 5 th Floor, Indochina Riverside Tower
No 74, Bach Dang street, Hai Chau 1 ward, Hai Chau district, Da Nang city
Table 1.1 Employees of KPMG in Vietnam
Services of KPMG T&A
7 Internal information provided by the Department of Human Resource and People, Performance & Culture
8 KPMG Vietnam, (2021) Services [online], Vietnam: KPMG, Available at: https://home.kpmg/vn/en/home.html [accessed 19 July 2021]
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• Dispute Resolution and Controversy Services:
Key financial figures
Under the Dispatch No 1339/BTC-CDKT 9 dated 24 th January 2014 of the Vietnam Ministry of Finance, KPMG T&A is classified as the company required to be audited for the annual financial statement However, according to Article 109 regarding Periodic disclosure of information of the Law on Enterprises No 59/2020/QH14 issued by National Assembly dated 17 th June 2020, the limited liability companies are off duty in the announcement of their financial statement 10 Therefore, this is the confidential information of the firm which cannot be disclosed except in the case of the compulsory periodical submission to the local tax authority and the special situations directly approved by the Chairman and CEO Therefore, the financial figures of KPMG T&A are left blank.
Clients
With an intensive understanding of and years of experience with the specific industries issues that impact clients, KPMG Tax and Advisory Limited (KPMG T&A) has been delivering a broad range of professional services for clients in various industries:
9 The Ministry of Finance, (2014) Dispatch No 1339/BTC-CDKT: Organizations and companies required to undergo audits [online], Vietnam: thuvienphapluat.vn, Available at: https://thuvienphapluat.vn/cong- van/Doanh-nghiep/Cong-van-1339-BTC-CDKT-nam-2014-doanh-nghiep-to-chuc-bat-buoc-phai-kiem- toan-220942.aspx
10 National Assembly, (2020) Law on Enterprises No.59/2020/QH14 [online], Vietnam: thuvienphapluat.vn, Article 73, Available at: https://thuvienphapluat.vn/van-ban/Doanh-nghiep/Luat-Doanh-nghiep-so-59-2020-QH14-427301.aspx
KPMG Vietnam boasts an extensive clientele, with over 34,000 engagements and 6,700 national and international partnerships Notably, KPMG Vietnam has the privilege of serving several renowned clients who rely on its professional services These collaborations underscore KPMG Vietnam's commitment to delivering exceptional services and its ability to cater to the diverse needs of its vast client base.
− Panasonic Appliances Vietnam Co., Ltd.,
− Mainstream Renewable Power Asia Holdings Pte Ltd.,
− Vietnam National Petroleum Group, and
− Vietnam Posts and Telecommunications Group
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Organizational structure OF KPMG T&A
Organizational chart of KPMG T&A
This type of organizational structure allows KPMG T&A to centralize every operation and activity in the firm All business decisions are made at the top of the business (Chairman cum CEO and Executive Committee) and then distributed down the chain of command Therefore, the firm can establish standardized procedures and supervision in order to reduce office and administration costs Moreover, directing the organization’s vision from the top allows for a smooth implementation of its visions and strategies Besides, as above- mentioned, three KPMG member firms in Vietnam closely work with each other and have the same President, this type of organizational structure of KPMG T&A (as well as of KPMG Legal Limited and KPMG Limited) permits the Chairman to have the synchronized management for KPMG Vietnam
Figure 2.1: The organizational chart of KPMG T&A
Functional description
The Chairman and CEO is responsible for chairing meetings of Partners, acting as chief spokesman for the firm, liaising with major clients, mentoring Partners, and ensuring Partners are contributing positively to the development, growth and technical excellence of KPMG In addition, he is also responsible for all aspects of management and implementation of the firm’s strategy This includes recommending the appointment of leaders such as Senior Partners in each office and taking responsibility for areas such as Sales & Markets, Brand &
Human Resource and People, Performance
INFRASTRUCTURE, GOVERNMENT AND HEALTHCARE DEPARTMENT
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Innovation, People, Performance and Culture, Human Resources, Legal, Finance and Administration and Information Technology
The Chairman and CEO is elected on a 5-year term basis based on a majority vote by the Participating Partners (partners who are members of the firm’s partnership agreement), and during this term, he may act on all matters on behalf of the firm 11
The Executive Committee (“ExCo”) is appointed by the Chairman and CEO and including Geographic Senior Partners, Functional heads, Strategic workstream leads, and the Quality and Risk Management Partner Those members have roles to advise the Chairman and CEO on the firm's strategic matters as well as provide their inputs and discussion on strategic leadership, business plan development, resources allocation, high prioritization of the firm, and risk management for KPMG T&A 12
Besides the ExCo, the Chairman and CEO is also supported by Operations Committee (“OPSCO”) including Chief Finance Officer (“CFO”), Head of Markets and the Office of the Chairman The committee is responsible for implementing firm policies as promulgated by the Chairman and CEO, developing strategies and tactical and operational plans to support such policies and for the sound operations of the firm In addition, the OPSCO is also responsible for coordination and guidance of all Infrastructure Teams including maintenance of budgetary spend, defining and realizing benefits, and ultimately ensuring efficiency right across the firm 13
2.2.4.1 Infrastructure, Government and Healthcare (“IGH”) Department
11 KPMG Vietnam, (2020) Transparency Report for KPMG Limited [online], Vietnam: KPMG, 37, pp 04, Available at: https://home.kpmg/content/dam/kpmg/vn/pdf/transparency-report/2020-KPMG-TR-report.pdf [accessed 19 July 2021]
12 KPMG Vietnam, (2020) Transparency Report for KPMG Limited [online], Vietnam: KPMG, 37, pp 04, Available at: https://home.kpmg/content/dam/kpmg/vn/pdf/transparency-report/2020-KPMG-TR-report.pdf [accessed 19 July 2021]
13 KPMG Vietnam, (2020) Transparency Report for KPMG Limited [online], Vietnam: KPMG, 37, pp 04, Available at: https://home.kpmg/content/dam/kpmg/vn/pdf/transparency-report/2020-KPMG-TR-report.pdf [accessed 19 July 2021]
In recent years, Vietnam is considered as one of the most dynamic emerging countries in the East Asia region with the rapid growth in every aspect leading to the significant increase of basic services, high demand on infrastructure, healthcare, education, water treatment, energy, etc Therefore, there have been many areas that need a variety of assistance from a firm as KPMG T&A (in cooperation with two left KPMG firms) In front of these continuously wider opportunities, it was established the strategic department of Infrastructure, Government, and Healthcare being in charge for those clients in these industries and providing them with tax, deal advisory and consulting services as well as legal and auditing services (which are belonged to two other KPMG member firms) on projects for refineries, power plants, healthcare, telecommunication, PPP, smart cities, airport/ports, etc
The functions of this department are:
− Periodically report to the Chairman and CEO the business dashboard and plans of IGH as well as suggest the adjustment for quarterly and annual business strategies in alignment with the long-term vision,
− Maintain and develop relationships with clients, regulators and government agencies,
− Actively involved in industry groups, thought leadership, speaking engagements, etc within and outside the firm to enhance exchange and cooperation opportunities and broaden the working networks
− Conduct regular market research to identify new opportunities and challenges for IGH whereby propose improvement for KPMG brand and service offerings accordingly
− Develop and establish unique client value propositions
− Make sure the provision of highly skilled KPMG experts for entire project lifecycle
− Coordinate with various levels of executives within the firm and in the KPMG network
− Assist clients to make sure that taxation for their companies is under control through the establishment of appropriate tax policies and processes
− Support clients to meet their tax compliance responsibilities and to act on their business planning by using in-depth technical tax knowledge and an intensive understanding of how tax fits into the wider business environment
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− Work across the corporate health spectrum consist of diverse areas such as profitability, technology, transformation, risk, structure, growth, and operations in order to help clients address their challenges and opportunities in the context of the volatile and complex economic environment
− Assist to improve the performance of the client’s business, deploy new technology, manage risks, etc
- Support clients to seek, secure, and drive value for the duration of the acquisition lifecycle
- Assist clients to drive value over services of M&A, due diligence, fund raising, etc
− Improve service quality and risk management whereby enable the firm to protect the brand and reliability as well as maintain and improve the reputation towards the long-term profitability
− Manage and ensure the obligations and compliance of every level in the firm are under the KPMG policies and procedure of Risk Management, Ethics, and Independence
As mentioned in Chapter I, KPMG in Vietnam demerged into three legal entities with the separation for professional services among firms Upon KPMG’s policy, every engagement implemented by more than two KPMG member firms must be assigned under the inter-company engagement among member firms However, three firms still can share with the internal back-office services provided by the following departments:
− Monitor all financial operations within the firm
− Periodically review and report the financial status and performance, the financial risks and raise the solutions accordingly
− Strictly perform compliance and preparation for quarterly and annual tax health check
− Present financial reports to the board of directors and relevant stakeholders as and when required
− Comply with the financial policies and procedure and actively propose the improvement with the financial policies and procedure and actively propose the improvement
Human Resource (“HR”) and People, Performance & Culture (“PPC”)
− Develop and organize the appropriate training and development program for each employee
− Encourage, manage, and implement various initiatives for people, performance and culture
− Create a safe and professional working environment
− Manage and oversee the annual benefits consist of insurance and compensation as well as propose the appropriate adjustment
− Coordinate and implement needful disciplinary actions and labor contract termination
− Coordinate and ensure the office activities and operations are in alignment with the policies of the firm
− Manage office supplies and security of the office
Assist as computer issues arise, software needs updating, or networks require fixing In general, the IT department is responsible for implementing infrastructure automation, governing the use of network and operating systems, and optimizing functionality KPMG aims at fully digitalization at every activity so IT department plays an important role to help the firm accomplish its digitalized targets The key objectives for IT department:
− Maintain IT operations consist of computers, software, hardware, servers, application, network security, ERP system, etc
− Provide the IT technical support and handle system improvement
− Develop and manage the campaign initiatives of strengthening the firm's brand by organizing technical seminars joined by leading KPMG experts for clients as well as for the business community in Vietnam
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− Handle public relations and communication Monitor and manage social media
− Periodically report to the Chairman and CEO regarding strategies to expand the market share of the firm as well as to enhance the client experience with the provided professional services
Position and roles of the intern
IGH department has a task to develop business strategies to introduce the KPMG services, approach new opportunities, develop and maintain the relationship with potential and current clients, etc in order to expand the business in the relevant industries with various value propositions for clients I have been assigned to be an assistant to help the department to accomplish the above task
I wish to take this opportunity to learn more about the international working environment of a well-known firm in the financial industry I leverage my years of working experience and the knowledge and skills gained from AMI course to fulfill my assigned jobs and partly help the department achieve market expansion targets
Mission of the intern
The assigned tasks
I applied to IGH department of KPMG T&A and have been assigned to be an assistant to an Associate Director in charge of Telecom Business Development, IGH department
Under the guidance of Ms Tran Thi Thu Anh, I am handling the translation for technical materials regarding the projects, coordinating the relevant parties including internal and external stakeholders for the projects, being the focal point of in charge for communication with organizers of forums/workshop (as and when required), studying the orientation and vision of clients, etc I also get involved in the internal meetings (which are within KPMG Vietnam and/or other KPMG member firms in the Asian Pacific region) and the external meetings with clients, multilateral parties, Government agencies, etc
Three phases of my internship period, which are respectively to tasks assigned by the supervisor, are presented in the following table:
Table 3.1 The assigned tasks of the internship
1 st – 14 th June Study IGH department and service provision
- Have the overview about the IGH regarding its functions, industry covering, internal and external stakeholders, domestic and international experts in KPMG networks for the specific industry
- Have the general understanding about the professional services provided IGH clients and the restrict regulation for service provision due to risk management
- Become acquainted with the necessary administrative procedures of IGH
Study the trends and the demand for digital transformation in
- The current state of digital transformation in Vietnam: opportunities & challenges
- Comprehend the project pipeline with information of
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Vietnam in the context of the Fourth Industrial Revolution potential clients having digital transformation plans and looking for the consulting service for this process
- The strength and weakness of KPMG Vietnam in comparison with its competitors
Contribute to the business strategy for consulting services to meet the demand of clients in their digital transformation process
- Assist IGH team to develop the business strategy based on my understanding about the company, the external environment, market trends, competitors, analysis on the clients’ needs for their digitalization
- Frequently work with organizers of events with topic of digital transformation to connect them with KPMG experts for speaking contribution Hence, KPMG would have chances to share its intensive perspective and assessment on the development of industries as well as to strengthen KPMG’s presence in such industries.
The link between the subject matter and the intern’s mission
The intern's mission is closely aligned with the subject matter of supporting the IGH Associate Director in developing a compelling consulting services strategy for KPMG T&A This strategy aims to fulfill the digitalization needs of clients, ensuring they remain competitive in today's rapidly evolving technological landscape.
Firstly, I need to collect and research the information of the digital transformation status in Vietnam as well as the potential clients who are on the way to conduct the digital transformation This information is necessary for KPMG T&A to analyze the market trends, competitors, potential clients and review current capabilities of my firm Secondly, I must have an accurate analysis of clients’ needs to well coordinate with my colleagues to mobilize the right personnel to respond correctly to clients.
The goals to reach
For my four-month internship, I am expected to achieve the following goals:
- To understand the organizational structure of KPMG T&A, the nature of close relations and mutual assistance of KPMG member firms
- To enrich my knowledge about socioeconomics, market movements, technology, risk management
- To have better analytical skill to obtain the practical information which can be useful for the leaders to make decisions
- To perform the good teamwork during liaising and cooperating with team members in the projects
- To improve my communication and negotiation skills through the conversations with the relevant teams within KPMG networks, with the (potential) clients and other stakeholders, and
- To support the leaders of the firm to develop the strategy for consulting service provision to those clients who are on the journey to digitalization
3.4 The contribution to the company
Under the instruction of my supervisor and valuable support from my colleagues, I have put the most effort into the accomplishment of every assigned task With the knowledge that I gained from the subjects of the AMI course, my contribution to the firm should be as follows:
- Data collection for market research, analysis on potential clients, competitors as well as the relevant stakeholders
- Arrangement the suitable communication with the various stakeholders, and
- Handling translation for the technical materials that require a good background in business to correctly comprehend and then to properly circulate the information to the co-workers
Besides, I may apply the knowledge that I gained from the course to analyze the market trends and the current capabilities of KPMG T&A as well as to identify engagement opportunities through the competitive advantages of the firm and the potential clients’ needs
As a result, I can propose IGH leader the appropriate strategy for KPMG T&A in the coming time to differentiate the KPMG brand from its competitors, to successfully approach potential clients comprising building the strong relationship with clients, and to meet up with their demands in their digitalization process
3.5 The theoretical knowledge to be put into practice during the internship
After spending nearly two years on AMI course, I have learned certain subjects providing me the useful knowledge which can be put into practice The below table presents the detailed information of some subjects benefiting me during my internship
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Table 3.2 Theoretical knowledge applied in the internship
This subject helps me to understand the basic tools and techniques (such as PEST, SWOT, Stakeholder Matrix, Porter’s Five Forces) used in the analysis of company performance and strategic positioning as well as to establish an understanding how these methods are applied in the re- evaluation and formulation of strategy Besides, I am also equipped with the understanding of theories, concepts, and models related to international business strategy
KPMG T&A has the international working environment with employees not only from Vietnam but also from other countries such as: Canada, Australia, UK, India, Japan, Korea, Malaysia, etc Moreover, the firm has been working with various parties being local companies, multinational groups, multilateral organizations, etc Therefore, this subject helps me to have the effective communication in an international working environment like KPMG T&A as well as to develop my flexibility and adaptability in the intercultural communication
Given that KPMG T&A is a part of KPMG global organization, the firm often works and cooperates with the other member firms all over the world to exchange business opportunities and experts in projects I myself need to acquire good knowledge of business cultures in different countries to be able to work successfully with various teams In addition, I may take part in the project negotiation with potential clients that requires me to be aware of the significant role of cultural differences in business interaction in order to have the appropriate behavior, attitude, and negotiation method
A part of consulting service on the digitalization process is assisting clients to review their organizational structure and functions to propose the suitable structure and management information system fitting with the transformation requirement This subject supports me to have a general
Subject Useful information understanding of the management information system of an organization Therefore, I can leverage my knowledge for translating technical documents as well as better understanding the workflow of the projects with clients
The subject provides me with the theory of customer satisfaction that the primary motive of a company is to satisfy the needs of customers
Leveraging insights gained from this course, I aim to identify new clientele, assess their market demands, and propose appropriate strategies (market segmentation and marketing mix) to optimize customer relationships These efforts will solidify KPMG's brand differentiation within Vietnam's market landscape, enabling us to devise highly effective marketing tactics.
Business English English has been used as the official language at KPMG T&A in both verbal and non-verbal communication because of frequently working with international co-workers and every process and information in KPMG standardized in English This subject allows me to easily approach business concepts, write and read business documents, and develop my essential skills to respond to different situations in the corporation
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Development
PEST Analysis
Digital transformation is known as the integration of digital technology into all areas of a business, fundamentally changing how the entity operates and delivers values to customers/end users Indeed, digital transformation is not only the story of the corporations (in both private and public sectors) but also of the Government Digitalization is considered the inevitable roadmap of every entity of Vietnam’s economy in its globalization journey However, to understand why it has become the leading concern of the Government, State- owned Enterprises, and Private Enterprises, as well as to figure out the orientation of the Government and the current needs of those who are on the way of digitalization, let’s have an overview on the four factors covering politics and legal base, economy, society, and technology that conjointly cause the digital transformation trend The result of this analysis will support IGH leaders to drive their decision on strategy formulation stated earlier at the topic of this report
After the great victory of the August Revolution, the Democratic Republic of Vietnam was given birth with the Declaration of Independence on September 2nd, 1945 Since 1976, Vietnam has changed its country’s name to the Socialist Republic of Vietnam Over the last
46 years, Vietnam has been continuously building the socialist rule-of-law state of the people, by the people and for the people
Vietnam is a one-party state ruled by the Communist Party of Vietnam (“CPV”) The
CPV provides the strategic orientation and decides all major policy issues which the Government then implements The policy of the Government currently prioritizes stability, retaining the political status quo, domestic economic development and international integration
Hence, Vietnam is known as the more political stable countries in South East Asia
Amidst Vietnam's comprehensive Doi Moi agenda initiated in 1986, the nation has embarked on a series of significant political and administrative reforms These reforms have taken shape through key milestones, including the 1995 public administration reform, the 2001 master program for 2001-2010, and the subsequent master program for 2011-2020 These reforms aim to enhance the effectiveness and efficiency of Vietnam's governance structures, thereby fostering economic growth and social development.
2011, and the public administration reform master program for the 2021-2030 period promulgated in 2021 The key objective of those programs is to develop the national administrative system being democratic, modern, professional, and effective based on synchronous and comprehensive innovation and integration reflecting the ideal of building a socialist-rule-of law Government of the people, by the people, and for the people 14 The development of e-Government is one of six areas focused of the master plan on public administration reform whereby it is required to promote technology achievement, information technology application and digital transformation aiming at the reformation of working method, upgrade the efficiency and productivity of Government agencies top-down from the Central to the locality to meet up with the requirement of the socio-economic development, national defense, security and international integration as well as the improvement of public service delivery
Nowadays, Vietnam has established diplomatic relations with about 170 countries including the world major powers such as the United States of America, the United Kingdom, Russia, China, Canada, etc Vietnam has boosted the relations of economics, trade, and investment with more than 230 countries and territories 1516 Vietnam also continuously enhances its relations with international and regional organizations for instance United Nations, the Association of Southeast Asian Nations (“ASEAN”), the Asia-Pacific Economic Cooperation (“APEC”), etc and accordingly reinforces and strengthens its role in the
To drive public administration reform for the upcoming decade (2021-2030), the National Academy of Public Administration has developed a comprehensive Master Program This program outlines essential strategies and actions to enhance public service delivery, promote transparency and accountability, and modernize governance structures The program aims to foster a more efficient, responsive, and citizen-centered public administration system that meets the evolving needs of Vietnamese society.
15 Ministry of National Defence, (2021), Vietnam diplomacy policy [online], Vietnam: Ministry of National Defence, Available at: http://mod.gov.vn
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Vietnam joined the World Trade Organization (WTO) in 2007, enabling it to participate in several Free Trade Agreements (FTAs) under its ASEAN membership Vietnam has recently signed bilateral trade agreements with various countries, including the CPTPP, EVFTA, UKVFTA, and RCEP, which reduce tariffs and create opportunities for international companies to operate in Vietnam, generating employment and boosting exports These agreements encompass a wide range of sectors, including trade, e-commerce, and telecommunications, supporting Vietnam's competitiveness and economic growth.
In the context of the Fourth Industrial Revolution, Vietnam Government has developed a certain legal framework for the long-term orientation for digitalization of Government authorities and State-owned Enterprises (“SOE”), comprising:
− Resolution No 52-NQ/TW dated 27 th September 2019 issued by Vietnam Politburo 18 regarding certain orientations and policies to actively participate in the Fourth Industrial Revolution
− Decree No 47/2020/ND-CP dated 9 th April 2020 issued by the Government 19 on managing, connecting and sharing the digital data of the Government agencies
− Decision No 749/QD-TTg dated 3 rd June 2020 by Vietnam Prime Minister 20
17 Thanh Phuong, (2021), Vietnam has been proactive to sign FTA [online], Thai Binh: Thai Binh Provincial Portal, Available at: https://thaibinh.gov.vn/chuyen-trang-chuyen-muc/asean/viet-nam-tich-cuc-tham-gia-ky- ket-cac-hiep-dinh-fta-mo-ra-nh.html
18 Ministry of Politburo, (2019), the Central Committee on a number of guidelines and policies to actively participate in the Fourth Industrial Revolution [online], Vietnam: Luatvietnam, Available at: https://english.luatvietnam.vn/resolution-no-52-nq-tw-of-the-central-committee-on-a-number-of-guidelines- and-policies-to-actively-participate-in-the-fourth-industrial-revolution-177121-Doc1.html
19 The Government, (2020), Decree on management, connection and share of digital data of regulatory agencies [online), Vietnam: Thuvienphapluat.vn, Available at: https://thuvienphapluat.vn/van-ban/EN/Cong-nghe- thong-tin/Decree-47-2020-ND-CP-management-connection-and-share-of-digital-data-of-regulatory- agencies/440168/tieng-anh.aspx
20 The Prime Minister, (2020), Decision on introduction program for national digital transformation by 2025 with orientation towards 2030 [online], Vietnam: Thuvienphapluat.vn, Available at:
23 regarding “The national digital transformation Program towards 2025 and vision to 2030” The fundamental objectives by 2025 are:
By implementing digital governance, governments can boost their operational efficiency through extensive online public services, interconnected digital document processing, integrated government reporting systems, and the development of national databases Furthermore, electronic inspections by supervisory authorities and state agencies enhance transparency and streamline processes.
(ii) to become one of 70 leading countries in e-Government Development Index (“EGDI”)
In a view to grasping the opportunities of the Fourth Industrial Revolution, the Government also encouraged the support of development partners, businesses, and international experts with the wave of scientific-technological breakthroughs and its increasing integration into the world
According to the annual Best Countries Overall Rankings 2021, Vietnam has become the 40 th best countries of the world thanks to its high score in business openness, movements, and heritage 21 The development of the country over the past 35 years has been remarkable With the reformation of economic and political under Doi Moi in 1986, Vietnam’s economy has been growing rapidly and being one of the countries with the highest speed growth in the world since attaining middle-income status Vietnam aims at becoming an upper-income country by 2030
Porter’s five forces analysis
This technique is used to determine the nature and strength of competitive pressures in the digital transformation consulting industry, which is a basement to shape the business strategy for the firm The analysis consists of five forces: (i) Competitive rivalry; (ii) Potential of new entrants into the industry; (iii) Threats of substitute services; (iv) Power of suppliers; and (v) Power of clients The following breakdown will clarify each of the above-mentioned factors
4.2.1 High degree of competitive rivalry
In the context of series of national policies and programs were launched for the target of the digital economy transformation of Vietnam, the leading SOEs, large-size private
Thư viện ĐH Thăng Long enterprises, and SMEs have been boosting their establishment of technology development and application into their business operation as well as making efforts to build up their own proper digitalization roadmaps In order to accomplish this process, those enterprises have been seeking the assistance of consulting firm whose in-depth knowledge and experience in the industry of such an enterprise as well as of the digital transformation and data analysis to give consultation on necessary initiatives and adjustment
The market of digital strategy consulting has been joined by numerous international and local consulting firms comprising who have been famous for professional services and who are emerging as expanding their business portfolio to consulting industry with their own successful technology foundation Besides KPMG T&A, in Vietnam Market, the certain service providers can be counted like the “giants” Baker McKenzie, BCG, PWC, E&Y, Deloitte, FPT, Saigon Technology Solutions, etc Despite facing a number of competitors with diverse services offerings, KPMG T&A still maintains its competitive advantages with the long-term relationship with its client network, extensive understanding about clients, comprehensive technical knowledge in technology and digitalization as well as owns a set of internal digital tools fitting with each industry that clients are in
4.2.2 Medium threats from new entrants into the industry
Given that economic integration with the trade agreements that Vietnam successfully obtained, digital transformation has gradually become the leading concern of many enterprises in the journey to integrate with the era of 4IR and the world economy Digitalization is no longer a new topic but still a hot question to be solved in the context of Vietnam economy and society along with the readiness of technology infrastructure and financial capability of the enterprise Therefore, more and more consulting firms enter the market corresponding to the enormous demand of various enterprises However, KPMG T&A has its own charge-out rate standard matching with its value contribution and commitment to its clients It aims at the segment of those clients who are ready to spend a large amount of expense for consulting fees in return for the deserved services It is clearly seen that only competitors providing equivalent services and having a similar position in the market can bring threats to KPMG T&A
Nevertheless, powerful consulting firms are striving to many-sided approach clients and boosting the development of a variety of services meeting with clients’ requirements with the ambition to knock out consulting firms like KPMG T&A and to gain more market share KPMG T&A should be prudent with those competitors together with having the wise strategy
4.2.3 Medium bargaining power of supplies
KPMG T&A has forged strategic partnerships with leading technology providers to facilitate client digital transformations These alliances provide access to cutting-edge solutions like Oracle Cloud, Microsoft Dynamics, and SAP Ariba However, KPMG T&A exercises its purchasing power to negotiate favorable terms and incentives for these solutions Despite the high-quality consulting services offered by KPMG T&A, the bargaining power of suppliers remains medium due to the firm's reputation and long-term commitments to clients This strategic approach ensures that technology solutions are tailored to client needs and effectively support their digital transformation journeys.
In Vietnam, using consulting services is no longer new to the business community, and more and more consulting firms appear with many kinds of services and prices to attract clients However, digital transformation is not simply enabled by technology, it is a broad range of change for an organization to modify the organizational structure and processes, business model, and the high-volume integration of data to predict, impact, and respond to client behavior Absolutely, not many consulting firms can be qualified to handle such a large workload And in return, the service charges for such engagement are not cheap and would not be easily reduced because it may lead the service quality to go down It means that there are not many pricing options for clients if they expect to experience excellent consulting services
Though the charges depending on the scope of work and the potentiality for further opportunities, KPMG T&A assumes that the quality and reliability of the service, as well as the commitment tie to the reputation of the firm, still play the key factor to offer prices That is the main reason why KPMG T&A tends not to apply the high percentage discount for their services
In the other case, under Vietnam regulation, any consulting service package with an estimated amount greater than VND500,000,000 must be conducted under a bid 24 In such a
24 The Vietnam Government, (2014), Detailing the implementation of several provision of the law on bidding
Thư viện ĐH Thăng Long situation, KPMG T&A must offer a competitive price in comparison with other bidders, in addition, ensure the service quality in order to be selected by the client Hence, in general, the bargaining power of clients with KPMG T&A is rather medium and depending on the situation
KPMG T&A's digital transformation consulting services leverage a global network of over 170,000 experts across 155 offices Combining local and international professionals with deep industry knowledge and consulting experience, KPMG T&A delivers customized solutions tailored to each client's needs The firm's suite of internal digital tools, methodologies, and access to leading technology solutions enables them to provide advanced consulting services KPMG's collaborative approach fosters technical exchange and personnel mobility, allowing for seamless project implementation and unparalleled expertise, ensuring reliable and cutting-edge consulting services that set them apart from competitors.
Moreover, member firms of KPMG in Vietnam including KPMG T&A, KPMG Limited, and KPMG Legal Limited are all governed by the same Chairman and CEO so the client issues can be carefully reviewed in various perspectives by cross-functional teams of these firms to bring the best consulting service
KPMG T&A's digital transformation services stand out from the competition due to their unique offerings, which have been meticulously crafted by a diverse team of experts This collaborative approach has resulted in services that are challenging to imitate, minimizing the threat of substitute services.
SWOT Matrix
SWOT Matrix is the next tool that I used for my analysis for consideration of business strategy for KPMG T&A This matrix allows me to identify the competitive advantages of KPMG T&A, to clarify its limitation and challenges besides the firm’s opportunities Based on this information, I can have a clearer picture to assess the current capabilities of the firm, its prospect, and negative factors that it should consider minimizing or discard and therefore propose the appropriate methods for brand differentiation of KPMG in addition to offering its clients better value proposition regarding the selection of contractors [online], thuvienphapluat.vn, Article 54, Available at: https://thuvienphapluat.vn/van-ban/Dau-tu/Nghi-dinh-63-2014-ND-CP-huong-dan-Luat-Dau-thau-ve-lua- chon-nha-thau-237481.aspx
- KPMG is a leader for digital transformation consulting worldwide
- Having consultants being experts with deep professional experience in Business
- The industry-oriented approach delivering digital change-management capabilities based on specific industry needs and objectives – rather than generic perspectives
- The special operation model of the networks of KPMG member firms allows collaboration of experts among multi-firms
- Closing working with alliances’ technology and data to design a market- leading portfolio of solutions and services
The featuring alliances: Google Cloud,
- As being one of the leading consulting firms in Vietnam, KPMG T&A has the high charge rate in comparison with the average Therefore, only clients who have good financial capability can spend a large amount of money for the consulting services of KPMG T&A
Consultants must handle the multi- engagements with tight deadlines so sometimes happened the temporary shortage of personnel
- Digital transformation is on high demand of many parties including Government
Agencies, SOEs, Small and Medium-
Enterprises (“SMEs”), Large Enterprises, etc In particular, the large SOEs should be considered as the giant potential clients because of the expected scope of consulting work for their journey to digitalization Besides, E-Government
- The real workload sometimes is overwhelming the agreed scope of work due to the incurring risk during consulting provision This leads to a lengthy and painful project for the firm
To secure substantial contracts, firms may strategically allocate their resources, potentially accepting reduced fees from one or more projects This sacrifice aligns with the long-term goal of boosting firm revenue by securing larger, more lucrative projects Despite the immediate loss or time constraints, this strategy positions the firm for future success and competitiveness in the marketplace.
Thư viện ĐH Thăng Long projects with numerous phases from Pre- feasibility study to implementation promise to be potentials
- SMEs account for 97% of the total number of enterprises in Vietnam and contribute more than 45% of Vietnam’s GDP but many of them are lagging behind the transition to digital due to their structural barriers to digital adoption including internal skills gap, financial gap, and infrastructure gap Therefore, Vietnam
Government is making efforts in creating the right business environment for SME transformation such as providing with technology support and assistance, opening training and upskilling, etc In order to have those assistance done, the
Government normally engages the consulting firm(s) to supply the expertise and knowledge
- Participation in projects with different sizes allows KPMG T&A to accumulate its credential which is important to foster its expertise profile counted by the time base Therefore, sometimes KPMG T&A must face a shortage of personnel for other engagements
- Due to Covid-19 context, international experts from KPMG member firms in other countries cannot fly over to Vietnam so KPMG may be challenged by one of the following situations: o Client requests to reduce the consulting charge rate because of both the uncertainty of their business status and virtual attendance of the international experts who were assumed to be at fieldwork but now “only” work from remote o Some scope of work cannot be done without face-to-face discussions but in case of lockdown for Covid-19 prevention, those work parts must be suspended until the situation getting better
- KPMG T&A may sign a Multi-firm Engagement (“MFE”) with another KPMG member firm to provide consulting services as part of a professional service provision contract with a client In many cases, the end client doesn’t settle down the payment in time causing the payment to KPMG T&A would be late because of the binding of MFE with the main contractor.
Stakeholder Mapping
Stakeholder Mapping plays a crucial role in project pipeline management by identifying and categorizing stakeholders based on their influence on strategic decisions This categorization facilitates effective communication and workflow monitoring among stakeholders, ensuring alignment with project objectives and client expectations By understanding the power and attention of different stakeholders, project managers can tailor their communication strategies to address specific concerns and foster collaboration.
For internal stakeholders, this map defines the roleplay and their attention to satisfy their own expectation Thence, employees can understand who is doing what to have the suitable communication with the relevant people in the project While, the management level can understand more about their staff in terms of their concern to have the better accommodation for them which is deserved and proportioned to their contribution Given that people are one of the decisive factors of the firm’s success, it is certainly important to motivate employees for their working dedication which jointly brings a better proposition to clients
KPMG T&A utilizes market analysis to understand client project objectives, fostering effective communication and collaboration to help clients achieve their digitalization goals This analysis also provides insights into competitors' market expansion ambitions, enabling KPMG T&A to identify potential threats to its engagement opportunities and adjust its strategies accordingly.
In short, the result of this map grants me information about the relationship among stakeholders and their expectations that I can make use of to propose the adjustment for the above-mentioned strategy
No Involved people and organization Duties and power Attention
- Be the decision maker for the business strategies of the firm
- Decide the development orientation for IGH department
- Receive the regular report on
- Diversify the type as well as broaden the scope of consulting work to satisfy the higher and higher demand of clients
Thư viện ĐH Thăng Long
No Involved people and organization Duties and power Attention revenue and project pipelines to consider the appropriate adjustment on the targets
- Review the work performance of IGH department leaders and decide the suitable remuneration budget for them
- Enhance the firm’s reputation and credentials
- Vision to the “non-stop service firm” of KPMG Vietnam to provide any financial professional services that clients request
- Create and foster the good working condition to keep and attract more talents
- The firm has the breakthrough growth in the sector of Infrastructure, Government and Healthcare in the next coming years
- Periodically report Chairman and CEO the current status of on- going and potential projects, the revenue
- Raise the voice for any concerns on potential risks and suggest the solution to mitigate the risks
- Propose personnel allocation, recruitment plan, cooperation corridor with other KPMG member firms and with other consulting firms in the particular projects
- Build strong customer relationship to boost the customer lifetime value
- Promotion and individual development opportunity
No Involved people and organization Duties and power Attention strategies for the next year
- Review the work performance of IGH staff and suggest the deserved awards for the outstanding cases
- Maintain and develop the customer relationship Seek new clients and closely working with professional teams to have regular assessment on current and potential clients’ needs, and then to get agreed on how to approach clients
- Foster the present at public by delivering speech at the seminars/conferences regarding digital transformation
- Play as coordinator and /or technical expert for the major projects
3 IGH Staff - Organized and join IGH department leaders in meetings with internal and external stakeholders
- Manage the project pipelines in which define the current state and issue of the project, who doing what, the next steps, and follow up with the relevant stakeholders on their required actions Be coordinator for the
- Remuneration and rewards commensurating with performance results
- Health and safety at work
Thư viện ĐH Thăng Long
No Involved people and organization Duties and power Attention certain projects
- Record, update and monitor the information regarding projects in the systems such as Customer Relationship Management (“CRM”), Shared Channels within internal stakeholders, etc
Those will be used as the sources to extract the dashboard reported to the upper levels
- Do the market research and analyses for IGH department leaders to consider the strategies proposed to Chairman and CEO
4 Clients - Step in the digital
- transformation by engaging the consulting services to
(i) build the digital transformation roadmap and the governance model (ii) upgrade the digital competence of employee (iii) have the change management plan accordingly (iv) build and implement Enterprise Resource Planning (“ERP”) and Enterprise Risk Management (“ERM”), etc
- Complete the digital transformation by the expected deadline
- Optimize digital to reach their operation objectives and strategic goals
- Create value in entirely new ways to build a sustainable competitive advantage
- Mitigate risks incurring before and after digitalization
5 Competitors - Have the equivalent consulting - Gain more market segment
No Involved people and organization Duties and power Attention services
- Different level of charge rate based on the firm ranking Local firms usually offer the competitive price
- Have their own customer relationship by getting clients from other companies
- Upgrade the companies’ reputation and credentials
- Global brands and monopoly supplier with high quality technological solutions
- Set the long-term relationship with business partners
- Deep expertise and extensive experience
- Bring the knowledge on international practice and standards into clients
- Improve their credentials in the industry
- Seek more working opportunities outside their countries to improve their revenue targets to be aligned with their own KPI
Governments play a crucial role in facilitating the digital transformation of society They act as policymakers, promoting policies that foster the adoption of digital technologies and create a socio-economic environment conducive to digital growth By supporting government agencies and state-owned enterprises in their digital transformation journeys, governments set an example for the broader SME community, encouraging them to embrace digitalization as a means of enhancing competitiveness and driving economic advancement.
- Be open with engaging consulting services to support the digital transformation
- Achieve the set goals of being E-Government and towards E-Economy upon the Government’s orientation
- SOEs to rapidly implement the digital transformation
- Right business environment for development of SMEs
Thư viện ĐH Thăng Long
Business strategy for KPMG T&A aims at meeting the needs of its clients in their
Target clients who have defined the vision for the digital transformation and set aside the budget for it According to the PEST analysis, clients are included in two main areas: Public sector (the Government Agencies such as Ministries, People Committees, etc and State-owned Enterprises (“SOE”) who the Government owns equal or more than 50% of total capital) and Private sector (Large Private Enterprises, Medium and Small Enterprises (“SME”) However, the fact that there is a certain obstacle for KPMG T&A to approach e- government projects because many of them are unreadiness due to a limitation of financial capability and the lengthy and painful administrative procedure
According to a report by International Data Corporation (“IDC”) regarding the importance of digital transformation, 90% of enterprises are interested in digital transformation, with 30% determine this process essential 25 Nowadays, large-sized enterprises have been well prepared for the awareness of the massive impact and vital contribution of consulting services into their business management and operation, so they usually seek the assistance of consulting providers for their digitalization Given that best practices are always among key factors unlocking success in digital transformation, the leading international consulting firms are always the first-tier choice of those enterprises Therefore, with its market positioning of being one of the leading consulting providers in Vietnam, KPMG T&A should classify SOEs and Large Private Enterprises as the target clients of digitalization consulting
On the other hand, there are currently nearly 600,000 operating enterprises in Vietnam, of which 97.8% of the total number of enterprises are small- and medium-sized 26 , could be the potential clients promising to bring a large amount of revenue for KPMG T&A Over the past years, SMEs proved their precious characteristics of being dynamic, persistent,
25 Nguyen Hanh, (2020), Digital transformation challenges many Vietnamese firms [online], Hanoi: Vietnam Economic News – Ministry of Industry and Trade, Available at: http://ven.vn/digital-transformation- challenges-many-vietnamese-firms-43818.html
26 Bank for Investment and Development of Vietnam, (2018), Translated title: For SMEs to accelerate [online], Vietnam: Thanhnien.vn, Available at: https://thanhnien.vn/de-doanh-nghiep-sme-but-toc-post725559.html
37 responsive, striving for continuous developments, etc and greatly contributed to the Vietnam economics However, those enterprises still lack competitive advantages in comparison with the large-sized enterprises and find it difficult to deploy digitalization due to their shortages of capital, resources as well as long-term profitable projects And if those SMEs have opportunities to approach the high-class consulting services of leading firms, they will be empowered to liberate their capacity for further development in the future Obviously, there is a huge demand of SMEs for digitalization consulting services and if KPMG T&A knows how to leverage and seize this opportunity with those clients, it would open the enormous potentials for the firm
Based on the as-is status of each client, KPMG T&A will develop the specific methodology matching up the expectation and vision of the client In particular, the consulting services of the firm will be implemented in the three main steps as follows:
− Review the digital transformation roadmap
− Develop the governance framework, and
− Assess the government framework and data structures
To embrace digital transformation, KPMG T&A's project team incorporates international experts from India, Singapore, and Japan, aligning with global trends These experts bring international best practices to consulting services, enhancing the technical knowledge and exchange opportunities for local experts.
Thư viện ĐH Thăng Long
Revenue is counted by the chargeable time of KPMG staff engaged by clients
Table 4.3: Charge-out rates before VAT (10%) 27
Normally, if the scope of work for the projects does exceed the initial estimation in the contract between both parties, the additional fee will be added in the compromise with clients The scope of work and the estimation for the contribution time of relevant KPMG staff levels must be agreed upon before the project is kicked off The charge-out rate of KPMG T&A is at the average range in comparison with competitors whose equivalent services The differentiation of the firm usually comes from the service features with unique added values rather than its price To secure its standards, KPMG T&A will not discount the charge rates but instead, certain discounts will be considered upon the typical situations as follows:
(i) The client is calling for consulting services under the bidding scheme whereby the bidder selection will be based on two criteria: The best technical proposal, and The most reasonable financial proposal through the stipulated scoreboard In order to secure the possibility to win the bid, KPMG T&A must put the proposed price at the
27 The internal information of the firm
39 lowest besides offering the high quality of the technical proposal with the best expert team and methodology to help the client gain the project objectives
(ii) The current job is followed by other engagement opportunities which can benefit
KPMG T&A as well as contribute to strengthening its credentials that facilitate the firm to grasp other relevant opportunities in the future
Promotion is the integral part of marketing mix It focuses on how to attract the clients’ attention and motivate them to make decision to purchase Thus, I would propose the following methods to make the brand of KPMG T&A as well as the digitalization consulting services come closer to clients
By actively participating in the seminar on digital transformation in Vietnam, experts can enhance KPMG T&A's industry influence and expand its professional network This strategic engagement enables KPMG T&A to establish itself as a thought leader in the industry and connect with key stakeholders.
− KPMG T&A’s senior personnel should enroll the membership in the commerce chamber of Vietnam (Vietnam Chamber of Commerce and Industry – “VCCI”) and of various nations located in Vietnam such as American Chamber of Commerce (“Amcham”), Europe Chamber of Commerce (“EuroCham”), Italian Chamber of Commerce (“ICHAM”), Indian Chamber of Commerce (“INCHAM”), etc in order to enhance opportunities to exchange economic understanding, international perspectives about Vietnam, development trends, business opportunities, expansion of cooperation relationships, etc
− Invite enterprises who are on the way to digitalization to KPMG T&A workshop about digital transformation In such event, KPMG T&A experts whose extensive technical knowledge and experience in the sector will share audiences with their comprehensive perspectives and inputs as well as provide the international practice for the process of digitalization
As earlier mentioned, KPMG T&A is located in the three largest cities from the north to the south of Vietnam consist of Hanoi capital, Ho Chi Minh city, and Da Nang city This allows the firm to approach clients in various geographic areas in Vietnam Besides, this office allocation can help to make the KPMG T&A brand more popular in the business community across the nation
Thư viện ĐH Thăng Long
Conclusion
Achievement of the Internship
Throughout my internship in KPMG T&A as an IGH assistant, I have made my best efforts to accomplish every assigned task and partly contributed to the performance of KPMG T&A I took part in the market research for internal use to explore new consulting opportunities tailored for the digital transformation, attended every internal and external meeting regarding telecom sector of IGH team to better handle the project pipeline I also handled translation for almost brochures of KPMG T&A that were used in the introduction and preliminary meetings with business partners or (potential) clients Besides, along with other colleagues in IGH team, I conducted assessment for the credentials and capabilities of the firm and then described the needs of those clients who are demanding on consulting services for their digitalization These analytical results were used to prepare the proposal for the IGH business planning and strategy reported to the Chairman and CEO
Through comprehensive research and analysis, I gained an in-depth understanding of KPMG Vietnam's organizational structure, business operations, and market landscape This experience enhanced my practical knowledge gained from the AMI course, broadened my business acumen, and honed my working skills, particularly in time management and negotiation.
Shortcoming of the Internship
I have completed the internship with the certain achievement but there are still some of goals that I haven’t attained yet
Firstly, I still lack numerous knowledge and working experience to deeply get involved in other professional jobs of IGH department that I can cultivate my knowledge and skills Secondly, my internship took place over a short period so I did not have enough time to participate in more intensive and comprehensive research which can be used as the materials for long-term planning and strategy of the firm
Thirdly, given the situation of Covid-19, I have not had any chance to work with event organizers in person and to attend onsite events on the topic of digital transformation and the telecom sector in Vietnam In fact, all those events were held on the virtual platform
At last, the Covid-19 pandemic prevents me from more opportunities to attend face-to- face meetings with clients and other stakeholders Therefore, I partly missed the chance to learn negotiation and communication skills.
Suggestion to the firm
More and more strong competitors appearing have been threatening the position of KPMG T&A in the consulting industry Furthermore, in the unpredictable situations of the Covid-19 pandemic, like other firms, KPMG T&A must be equipped with its resilience as one of the keys to business survival At KPMG T&A, revenue is counted by the working time of those employees who attend engagements for clients Therefore, the firm needs to maintain and ensure a productive workforce in all cases to get ready for its reaction and recovery in a new reality My recommendations for the firm are as below:
5.3.1 Improving capability of local experts
Local KPMG T&A experts possess extensive experience and qualifications, upholding the firm's legacy of knowledge inheritance However, amid globalization, international best practices have become paramount To address this, local experts must engage in technical exchanges with international peers, particularly from technologically advanced regions like India and Singapore By doing so, they can enhance their consulting capabilities and cater to clients increasingly seeking international standards.
5.3.2 .Fostering cooperation with other member firms in KPMG International networks
KPMG T&A should take part in more digital summits organized by KPMG International networks to get introduced and connected with KPMG member firms in other countries that obtained great achievements and experience in the digital transformation It promises to bring the mutual cooperation among parties whereby improves the reputation and service quality of KPMG in the Vietnam market
The Customer Relationship Management (“CRM”) system should be optimized to develop reliable and continuous information sources about clients whereby anyone in the firm can figure out the expected information about the clients that they are approaching CRM must be up to date with the exact information, so the data entry staff are required to regularly check and update the system on time
Thư viện ĐH Thăng Long
Apart from CRM, KPMG T&A should have a specific plan to build up and maintain the relationship with clients The firm may make use of the current relationship with clients in other services such as audit and legal to develop a good relationship with them through commitments on service quality And in the future, current clients of other services can be potential clients for the consulting services so it is necessary for the firm to always focus on customer care whereby to more understand and provide them with the best services on time Thereupon, KPMG T&A can be established itself as a non-stop service provider.
Conclusion
After four months of the internship, I have many opportunities to develop myself in terms of working skills, knowledge and broaden my personal network The international working place of KPMG T&A brought me the ideal environment to improve my various skills such as Business English, organization, concentration, communication, patience and working under high pressure
Working with diverse stakeholders enhanced my comprehension of KPMG T&A's organizational structure and operations The insights gained from my AMI course, guided by Dr Vu Hoang Nam and Ms Tran Thi Thu Anh, enabled me to contribute to the development of a digital transformation strategy for the company This experience provided valuable exposure to the complexities of organizational decision-making and the application of analytical techniques to real-world business contexts.
Despite the time constraints of the internship, I was unable to fully engage in research and additional assignments that could have enhanced my contributions to the firm Furthermore, the business strategy recommendations I proposed, while sound, may have fallen short of expectations for a large-scale organization like KPMG T&A given its long-term business objectives.
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A bank perspective [webinar], Hanoi: BNP Paribas, 12, pp 03
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KPMG, 37, pp 02-03 Available at: https://home.kpmg/content/dam/kpmg/vn/pdf/transparency-report/2020-KPMG-TR- report.pdf" https://home.kpmg/content/dam/kpmg/vn/pdf/transparency-report/2020- KPMG-TR-report.pdf [accessed 19 July 2021]
5 The internal document provided by the Administration Department
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7 Internal information provided by the Department of Human Resource and People, Performance & Culture
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10 National Assembly, (2020) Law on Enterprises No.59/2020/QH14 [online], Vietnam: thuvienphapluat.vn, Article 73, Available at: https://thuvienphapluat.vn/van-ban/Doanh-
Thư viện ĐH Thăng Long nghiep/Luat-Doanh-nghiep-so-59-2020-QH14-427301.aspx" https://thuvienphapluat.vn/van-ban/Doanh-nghiep/Luat-Doanh-nghiep-so-59-2020-
11 KPMG Vietnam, (2020) Transparency Report for KPMG Limited [online], Vietnam:
KPMG, 37, pp 04, Available at: https://home.kpmg/content/dam/kpmg/vn/pdf/transparency-report/2020-KPMG-TR- report.pdf" https://home.kpmg/content/dam/kpmg/vn/pdf/transparency-report/2020-
KPMG-TR-report.pdf [accessed 19 July 2021]
12 KPMG Vietnam, (2020) Transparency Report for KPMG Limited [online], Vietnam:
KPMG, 37, pp 04, Available at: https://home.kpmg/content/dam/kpmg/vn/pdf/transparency-report/2020-KPMG-TR- report.pdf" https://home.kpmg/content/dam/kpmg/vn/pdf/transparency-report/2020-
KPMG-TR-report.pdf [accessed 19 July 2021]
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KPMG, 37, pp 04, Available at: https://home.kpmg/content/dam/kpmg/vn/pdf/transparency-report/2020-KPMG-TR- report.pdf" https://home.kpmg/content/dam/kpmg/vn/pdf/transparency-report/2020-
KPMG-TR-report.pdf [accessed 19 July 2021]
14 National Academy of Public Administration, (2021), The Master Program for public administration reform for the 2021-2030 period [online], Hanoi: National Academy of
The Master's Program for Public Administration Reform (2021-2030) is pivotal for modernizing and enhancing public administration in Vietnam It aims to foster a competent and professional civil service, enhance policymaking effectiveness, and promote transparency and accountability in governance The program emphasizes public service ethics, leadership skills, and evidence-based decision-making to drive administrative reforms and improve government performance.
15 Ministry of National Defence, (2021), Vietnam diplomacy policy [online], Vietnam:
Ministry of National Defence, Available at: http://mod.gov.vn" http://mod.gov.vn
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Thai Binh Provincial Portal, Available at: https://thaibinh.gov.vn/chuyen-trang-chuyen- muc/asean/viet-nam-tich-cuc-tham-gia-ky-ket-cac-hiep-dinh-fta-mo-ra-nh.html" https://thaibinh.gov.vn/chuyen-trang-chuyen-muc/asean/viet-nam-tich-cuc-tham-gia-ky- ket-cac-hiep-dinh-fta-mo-ra-nh.html
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18 The Government, (2020), Decree on management, connection and share of digital data of regulatory agencies [online), Vietnam: Thuvienphapluat.vn, Available at: https://thuvienphapluat.vn/van-ban/EN/Cong-nghe-thong-tin/Decree-47-2020-ND-CP- management-connection-and-share-of-digital-data-of-regulatory-agencies/440168/tieng- anh.aspx" https://thuvienphapluat.vn/van-ban/EN/Cong-nghe-thong-tin/Decree-47- 2020-ND-CP-management-connection-and-share-of-digital-data-of-regulatory- agencies/440168/tieng-anh.aspx
19 The Prime Minister, (2020), Decision on introduction program for national digital transformation by 2025 with orientation towards 2030 [online], Vietnam: Thuvienphapluat.vn, Available at: https://thuvienphapluat.vn/van-ban/EN/Cong-nghe- thong-tin/Decision-749-QD-TTg-2020-introducing-program-for-national-digital- transformation/445317/tieng-anh.aspx" https://thuvienphapluat.vn/van-ban/EN/Cong- nghe-thong-tin/Decision-749-QD-TTg-2020-introducing-program-for-national-digital- transformation/445317/tieng-anh.aspx
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21 The World Bank in Vietnam, (2021), Overview [online], Vietnam: The World Bank, Available at: https://www.worldbank.org/en/country/vietnam/overview#1" https://www.worldbank.org/en/country/vietnam/overview#1
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23 19 Ministry of Information and Communications, (2020), Vietnam sets the goal to become a digital nation by 2030 [online], Information and Communications Magazine,
Thư viện ĐH Thăng Long
Available at: https://ictvietnam.vn/vietnam-set-the-goal-to-become-a-digital-nation-by- 2030-20201225101942136.htm" https://ictvietnam.vn/vietnam-set-the-goal-to-become- a-digital-nation-by-2030-20201225101942136.htm
24 The Vietnam Government, (2014), Detailing the implementation of several provision of the law on bidding regarding the selection of contractors [online], thuvienphapluat.vn, Article 54, Available at: https://thuvienphapluat.vn/van-ban/Dau-tu/Nghi-dinh-63-2014- ND-CP-huong-dan-Luat-Dau-thau-ve-lua-chon-nha-thau-237481.aspx" https://thuvienphapluat.vn/van-ban/Dau-tu/Nghi-dinh-63-2014-ND-CP-huong-dan- Luat-Dau-thau-ve-lua-chon-nha-thau-237481.aspx