SAP Business One

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Audit | Tax | Advisory | Business Process Solutions

Grant Thornton's audit services focus on client service quality and building long-lasting relationships. We pride ourselves on having a Partner-led service for...

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International Financial Reporting Advisory Services
IFRS reporting advisory serivces of Grant Thornton are carried out by our dedicated team with expertise in IFRS implementation.
Audit Services
• Statutory audit • Review of financial statements and financial information • Agreed-upon procedures • FRAS services • Compilation of financial information • Reporting accountant • Cross-border audit • US GAAP audit
Audit Quality
We have various methods of monitoring our system of quality control and engagement quality, including real-time involvement of coaches and national office personnel on select audit engagements, reviews of issuer audit engagements prior to archiving by someone outside of the engagement team, and internal inspections of assurance engagements and the system of quality control.
Audit Approach
Audit Approach

Tax Services

Our tax professionals are dedicated to creating distinctive, and often innovative, tax solutions. Our approach starts by developing an in-depth understanding...

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Licensing services
Licensing services
International tax planning
Our extensive international network provides us with significant resources to meet all your expansion goals. We strive to develop commercially focused and tailored tax strategies to minimise tax exposures and maximise business efficiency.
Expatriate tax planning
We have a broad knowledge base and skills to assist you keep your personal income taxes to a legitimate and reasonable level, while remaining compliant with legislation. We can develop a personalised package for each key employee to take maximum advantage of the exemptions and incentives available.
Tax advisory
We will review the proposed business model and transactions and advise on tax implications and recommendations to optimize the tax opportunities under the local regulations and treaties which Vietnam entered into. Furthermore, we coordinate with our GT global tax team to provide a comprehensive tax advisory for the countries involved in the business model and transactions.
Tax compliance services
This service is designed to assist enterprises to cope with the statutory tax declaration requirements in line with the Vietnamese tax laws as well as the frequent changes and updates in tax laws.
Tax health check
Our Tax Health Check involves a high-level review of specific tax areas to highlight the key issues that need to be rectified in order to reduce tax risks. Through our extensive experience, we have identified key risk areas in which many enterprises are not fully compliant or often overlook potential tax planning opportunities. Our tax health check service represents a cost-effective method to proactively manage risks and reduce potential issues arising as a result of a tax inspection.
Transfer Pricing
Transfer pricing is a pervasive tax issue among multinational companies. In Vietnam, the tax authorities require special documentation to report related party transactions. Compliance with transfer pricing regulations is an important aspect of doing business effectively in Vietnam as failure to do so may result in significant penalties.
Tax due diligence
We conduct tax due diligence reviews of target companies to analyse their tax exposure and position in relation to acquisitions, mergers or consolidations. We are able to integrate this service with our Advisory Services department in order to offer a comprehensive, holistic due diligence review.
Customs and international trade
Our experienced professionals can help you manage customs issues more effectively through valuation planning and making use of available free trade agreements. We also assist Clients in optimising their customs procedures by making use of potential duty exemptions and efficient import-export structures. Risk mitigation activities include customs audit defense and compliance reviews.
M&A Transaction
We advise numerous foreign investors on efficient tax structures for their investments. Our experience allows you to consider all the options and set up a corporate structure that meets both operational and tax efficiency requirements. In short, the structure that is best for you.
Industrial Zones – Picking A Location For Your Business
Grant Thornton Vietnam’s one-stop services are designed to provide comprehensive support to both new and current investors who are planning to expand or restructure their business in Vietnam. Our professionals have established strong working relationships with landlords, property developers and authorities at various localities. With extensive experiences in liaison with the relevant agencies, we offer assistance including negotiation on land rental rates and efficient management of licensing process. Our customized and flexible solutions can bring benefits of cost efficient location, accelerate licensing process, and optimize tax opportunities while remaining in compliance with legislation.
Tax Audit Support
Tax audit support services provide comprehensive assistance to your business in Vietnam. Recent tax practices have shown the general tendency of launching routine tax audit on yearly basis. Tax authorities have been effectively using more sophisticated methods to identify target entities from across different industry sectors.

Advisory Services

If you are seeking to acquire or merge, divest or dispose, restructure or raise capital, equitise or list, or you are looking at identifying and mitigating...

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Business Risk Services
Business Risk Services
Transaction Advisory Services
Transaction Advisory Services
Valuation
Valuation
Business consulting services
Finance Management Advisory

Business Process Solutions

With this service, Grant Thornton can help you in increasing the company's time flexibility and direct quality control. We can help increasing the speed of...

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Accounting services
Accounting services
Taxes compliance within outsourcing
Taxes compliance within outsourcing
Payroll, personal income tax and labor compliance
Payroll, personal income tax and labor compliance
Secondments/Loan staff services
Secondments/Loan staff services
Compilation of the financial and non-financial information
Compilation of the financial and non-financial information
Accounting systems review and improvement
Accounting systems review and improvement
Initial setting-up for accounting and taxes systems
Initial setting-up for accounting and taxes systems
Management accounting and analysis
Management accounting and analysis

Technology Solutions Consulting

Our team of professionals and industry experts look forward to provide practical consultancies and end-to-end technology solutions to the clients.

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Comprehensive ERP system solution
ERP software is a tool for business operations, production management, order processing and inventory in the business process. Today, ERP software for small and medium businesses has been greatly improved to help businesses manage their business better. The article below will answer all relevant information about what ERP software is and offer the most suitable ERP solution for businesses. Let's follow along!
Analyze Business Administration data
We believe in the value that data can bring to the success and development of every business. Our team helps design data architecture supported by tools, to support business governance and provide useful information to management.
Financial reporting compliance solution package
Putting financial issues at the heart, this service helps ensure that financial reports for customers comply with both the requirements of Vietnamese accounting regulations and standards (VAS) as well as reporting standards. international finance (IFRS).
Third-party ERP extensions
ERP is a long-term solution that requires long-term travel, not short-term. We understand that many businesses cannot deploy the entire ERP system at once due to many different reasons, instead businesses can deploy each part. Over time, these solutions can be expanded to accommodate improved business processes or can even link completely new processes across different departments.
Localize, deploy and rebuild the project
Quite a few ERP projects need to be implemented according to current Vietnamese requirements and regulations, but still comply with common international business requirements. These projects need some improvements and adjustments in the right direction.
Consulting on technology solutions
We support the selection and implementation of the most suitable solutions, ensuring business efficiency and performance. We will work closely with customers to plan, evaluate and implement the right technology investment strategies and solutions to meet the development needs of businesses.

Related insights:

Technology Solutions Consulting Grant Thornton Vietnam launches new Technology Consulting & Solutions service

Launching new service: Technology Consulting & Solutions

| 1 min read | 01 Oct 2021

International Corporate Structuring Services

Grant Thornton is one of leading service providers in international incorporations in Vietnam with experience in helping our clients navigate jurisdictions...

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Offshore company establishment service
Using the offshore company model will facilitate the owner in the process of transaction and expand overseas markets, take advantage of the tax policy with many incentives and protect the value of the family enterprise's assets.
Private Trust Advisory
The development of the economy with many modern financial instruments has brought many advantages and opportunities for the enterprises, but there are still certain potential risks in any type of business. So how to protect your asset value with an appropriate company structure while stay compliance with relevant regulations?

Japan Desk

日系企業の海外事業展開を支援するため、Grant...

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Korea Desk

Our Korea desk in Vietnam has been established since 2019 to serve the Korean clients.

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China Desk

Growing a business beyond your country’s borders requires extensive research, planning, reparation and good execution.

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Careers

With our unique culture and opportunities, Grant Thornton Vietnam is a place where you can grow. Wherever you are in your career, we help you to make a...

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The Grant Thornton Difference

At Grant Thornton, talented people are at the heart of our strategy and drive all of our successes in more than 149 countries.

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Our values
We have six CLEARR values that underpin our culture and are embedded in everything we do.
Learning & development
At Grant Thornton we believe learning and development opportunities help to unlock your potential for growth, allowing you to be at your best every day. And when you are at your best, we are the best at serving our clients
Global talent mobility
One of the biggest attractions of a career with Grant Thornton is the opportunity to work on cross-border projects all over the world.
Diversity
Diversity helps us meet the demands of a changing world. We value the fact that our people come from all walks of life and that this diversity of experience and perspective makes our organisation stronger as a result.

Experienced hires

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Experienced hires

Fresh Graduates

Fresh graduates

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Available positions
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What is SAP? Which businesses should use SAP Business One?

SAP is a software commonly used in many businesses. It can be said that this software is one of the important factors that create success for businesses, especially import-export businesses. So what is SAP and what is SAP Business One? Why should businesses choose SAP Business One? In the article below, we will find the answer to this question.

What is SAP?

SAP is the acronym for System Application Programming, this is the name of a famous software company in Germany. SAP software is also known by a more complete name, SAP ERP (Enterprise Resource Planning). SAP was launched in 2006, is a business planning software developed by SAP company. It brings businesses a series of important resource planning such as: financial management, supply chain management, customer relationship management...

What is SAP Business One?

SAP sells many products, products related to ERP (Enterprise Resource Planning), including SAP Hana and SAP Business One . Among them, SAP Business One is well known because it is a comprehensive management solution, specifically designed to meet the administrative needs of small and medium-sized businesses. SAP Business One is also known as SAP B1.

SAP B1 integrates all the important information of your business from core business functions including: Finance, sales, customer relationship management, purchasing, manufacturing, inventory management... The information will be stored in the same database with a highly secure system. Thanks to that, it helps businesses access and find information quickly.

Why choose SAP B1?

If you are a new business or operating on a small and medium scale, SAP B1 is a perfect choice. In addition, SAP B1 also has advantages such as:

Significant savings in time and business management costs.
Reduce business management costs from finance, purchasing, inventory, customer relationship management to project management, human resources activities...
Provide information when needed, helping to make decisions faster and more accurately.
Data synchronization helps minimize errors and avoid entering data multiple times.
SAP Business One has fast real-time processing speed and a friendly interface even for those who do not specialize in information technology.

Benefits of SAP Business One

SAP Business One is a famous accounting and financial management product. This is also a software that provides an ideal solution for companies looking to expand and grow in scale.

Accountant

Helps control business finances effectively

SAP Business One provides a complete set of tools to help manage and streamline your business' financial operations. It will automate daily accounting tasks such as recording financial transactions, supporting tax calculations and allowing multi-currency transactions.

Accounting: Automatically handle all important accounting processes, such as journal entries, accounts receivable, and accounts payable.
Control: Accurately manage cash flow, track fixed assets, control budgets and track project costs.
Streamline: Fixed asset management and virtual fixed asset functionality will help you get rid of tedious, repetitive manual data entry.
Bank reconciliations: Quickly process reconciliations, bank statements, and payments using a variety of methods including check, cash, and bank transfer.
Financial reporting and analysis: Create standard or custom reports from real-time data for business planning and audit reviews.

Sales and customer relationship management

Create a basis for customers to be loyal to the business

Acquiring new customers is important to success, but building close relationships with customers is equally important. SAP Business One provides tools to help you effectively manage the entire sales process and customer lifecycle – from initial contact to final sale, post-sales service and support .

Sales and opportunity management: Effectively track opportunities and activities from initial contact until deal close.
Marketing campaign management: Create, manage and analyze your business's marketing activities.
Customer management: Store all important customer data in a single place. Synchronize and manage customer contacts stored in Microsoft Outlook.
Service Management: Manage warranty and service contracts efficiently, set up and respond to service calls quickly.
Reporting and analytics: Generate detailed reports on all aspects of the sales process, including forecasting and process tracking.

Build your sales team: Manage your busy sales with the sales mobile app – SAP Business One.

Purchasing & Inventory

Optimize business purchases to increase profits

Every small business needs a systematic approach to managing the procurement process, from requesting supplier quotes, to creating purchase requisitions and paying suppliers. SAP Business One helps manage the entire order to payment cycle, including: receipts, invoices, returns and payments.

Procurement: Create purchase requisitions, points of sale, and merchandise receipts; Purchasing Document Path documents for audit purposes. Additionally, the software manages profits, additional costs, and currencies.
Master data management: View account balances and purchase analytics, and maintain detailed purchase information with price lists and tax information.
Warehouse & Accounting Integration: Get real-time synchronization of goods receipts and inventory levels.
Handling accounts payable: Invoices, cancellations, credit memos with purchase order references, planning the business's goods requirements, thereby scheduling purchases accordingly.
Easier reporting: Create reports with real-time data and display them in different report or dashboard formats to make it easy for viewers to stay informed.

Smart business

Understand your business business intelligence

SAP Business One provides highly accurate reporting and analysis tools. It includes a free and fully integrated version of SAP Crystal Reports® for SAP Business One. So you can collect data from multiple sources to create timely and accurate reports based on company-wide data.

Report Creation & Customization: Access data from multiple sources, create new reports, and customize existing reports in a variety of layouts at an optimal cost.
Interactive Analytics: Use standard MS Excel features to create reports and you can evaluate your business from new perspectives.
Make your reports stand out: With striking visuals by integrating SAP Lumira for SAP Business One.

Production plan

Transparent inventory control and distribution

SAP Business One provides accurate information about incoming and outgoing shipments, inventory, and item locations. You can evaluate inventory using benchmarks, moving averages, FIFFO (first in, first out), track inventory levels, and track transfers in real time. You can run real-time inventory updates and check availability as well as manage standard and special pricing. You can also apply discounts according to criteria such as: order size, cash payment, customer type and run reports showing problems related to that order.

Warehouse & Inventory Management: Manage inventory using various cost models, maintain item master data, and use multiple units of measurement and pricing.
Bin Location Management: Manage goods in multiple warehouses,= by dividing each warehouse into many sub-zones, setting up allocation rules, and optimizing the movement of goods in the warehouse to reduce picking time.
Merchandise Receipts & Issue Control: Record merchandise receipts and issues to track warehouse location and transfers. Allows consignment, shipping and cyclical inventory counting.
Production planning and material requirements: Create and maintain bills of materials (BOMs). Release production orders manually or via back-flush and maintain global prices for bill of materials.
Powerful reporting: Create reports with just-in-time data and display them in multiple formats or dashboards.

Analysis & Reporting

Empower employees to help businesses make smart decisions faster

SAP Business One empowers your employees to make smarter and faster decisions by capturing all the important information about sales, customers, operations and finances – making it right immediately available company-wide.

By integrating this data in one system instead of multiple disconnected spreadsheets, it helps eliminate duplicate data entry and related errors.

Workflow-based alerts trigger automated responses when critical business events occur. Allows you to focus on the most important events. Helps you have a clear vision of how your business is performing and rely on that highly authentic information to make confident decisions.

Along with SAP Crystal Reports is fully integrated for SAP Business One, allowing you to choose many different report formats, thereby controlling access to the information displayed.

You can access real-time reports & charts for detailed and intuitive views to make more accurate decisions. Employees can also resolve customer needs more quickly. Management can also accurately track revenue, costs and cash flow to evaluate performance and take quick corrective actions.

Is the investment cost for SAP B1 system expensive?

SAP Business One is designed to fit the needs and budgets of small and medium-sized businesses. Therefore, you can rest assured about worrying about exceeding your budget.

SAP Business One costs are calculated on an assigned user basis. So, the total project cost will include licensing fees based on the number of business users and maintenance costs and deployment fees. With a modular structure, businesses can invest according to current management needs and upgrade when the business grows in the future.

In the long term, investing in SAP B1 software is a smart choice.

In short, SAP Business One is an ERP (Integrated Enterprise Resource Planning Software) software package. It is the only system that manages all business activities of the enterprise, helping you make decisions quickly and effectively. If you want to know more general information about SAP Business One products, please contact GrantThornton via hotline: 08 3910 9100 (in Ho Chi Minh City) or 04 3850 1686 (in Hanoi) for more in-depth advice.