05 Mar

Healthcare payments in India – A $60b new frontier

In the past decade, health spend per capita in India has tripled, while the overall share of health funded by the government has only increased by 4%. To frame in the Indian healthcare payments problem, this means that in a country of 1.3 billion people, more Indians are left footing heftier medical bills. With commercial insurance penetration hovering at a mere 2-3%, those bills are predominantly paid out-of-pocket.

“Modicare”, the Indian government’s recently announced scheme to provide health coverage for India’s poorest families, would only alleviate out-of-pocket costs for roughly a third of the population.

If unaddressed, the healthcare payments problem is unsustainable for several reasons. First, the rise of chronic and lifestyle diseases will further exacerbate healthcare demand and costs. Second, high out-of-pocket spend puts Indian families at risk. The Health Ministry of India estimates that over 63 million people are pushed into poverty each year due to catastrophic health expenses. Finally, a lack of primary risk-bearing entity, either public or private, means there is little financial incentive to drive patients toward preventative and cost-effective care.

Traditional Insurers – growth curbed by the lack of data

We estimate that Indians currently spend over $60B on out-of-pocket healthcare expenses. Given this staggering figure, why hasn’t private insurance risen to meet what is clearly an unmet need in the market? The answer essentially boils down to data – or rather lack thereof it.

Data is the lifeblood of insurers because it enables them to effectively underwrite and pay out claims. Yet in India, where there are over 196,000 hospitals spread over 29 states, there is no centralized nor digitized equivalents of interoperability, electronic health records, or health information exchanges. Furthermore, the vast majority of healthcare providers have paper-based records. Data is nearly inaccessible to insurers. This is in part why the insurance plans that currently exist typically only cover inpatient care within a narrow network of high-end hospital chains that have developed more sophisticated electronic systems.

Start-ups are leading the charge to fill the data gap

Despite these challenges, tech-enabled start-ups in India are building out unique solutions to develop healthcare data infrastructure, laying the foundation for broader healthcare coverage.

For example, e-pharmacy players such as Lifcare and Pharmeasy are building vertically-integrated pharmacies enabled by data and technology. Their business models leverage e-prescription capabilities to accumulate data on patient health and enable more convenient access to drugs. As these players scale, their data and care delivery capabilities could serve as key building blocks for pharmacy benefits management, or enabling new insurance models such as pharmacy-based outpatient primary care coverage (OPD).

Other start-ups are taking the approach of building out technology-enabled provider networks to lay the groundwork for insurance. Practo leverages its practice management suite embedded in over 100,000 provider offices to enable sharing of patient records and processing of claims for insurance-covered visits. mFine, headed by former Myntra leadership, is partnering with the most trusted clinics and hospitals within a region to create hyperlocal care delivery networks. mFine members pay a subscription fee to gain preferential access to services at mFine’s partner hospitals, as well as access to outpatient services provided on mFine’s platform such as tele-consults and medication delivery.

Challenges with Scale, Integration, and Incentives Lie Ahead

The quest to enable broader health insurance coverage by these start-ups is, however, fraught with challenges. E-pharmacy players will need to integrate data and workflow with other providers, such as physicians and labs, in order to develop full underwriting capabilities for outpatient coverage. Provider network development, on the other hand, is a far more data-rich strategy but one that is operationally challenging to scale geographically, especially beyond the largest cities.

Consumer behaviour and market education also need to be addressed. Many Indians don’t feel the need for insurance, despite the rising costs of healthcare. The concept of paying in advance for services that may or may not be rendered is challenging in a largely pay-as-you-go environment. As a result, some companies are offering pre-paid packages covering a set amount of services at a discount, or health savings plans for expensive planned procedures, with the goal of converting these customers to insurance products down the road.

Finally, the insurance business model thrives when provider and payer incentives are aligned toward delivering quality, cost effective care. However in India’s fee-for-service dominated system, aligning incentives can prove difficult (as it has in other historically privatized healthcare systems like the US). Expect more innovative care and payment models, such as direct primary care and outcomes-based reimbursement, to evolve as insurance gains broader adoption in coming years.

We predict that the Indian healthcare market will move to a model of private insurance over time, starting with modularized coverage such as hospitalization benefits, outpatient benefits, defined packages, and savings plans for episodes of care. As data becomes more ubiquitous, helped by technology start-ups, private out-of-pocket spend will increasingly shift toward commercial insurance models. We expect that by 2020 private spend will grow to $100B, and 10% of this spend will have migrated from out-of-pocket to insured coverage.

Written by Hailey Hu, an Investor at B Capital Group.

17 Feb

Open Banking: What does it mean for banks & do they like it?

A giant change is coming for banking in the UK. Not Brexit, but Open Banking, the new directive that will require the largest UK banks to give third parties access to their data, down to the level of current account transactions.

The directive will come into force in January 2018 – it’s part of the second European Payment Services Directive, better known as PSD2 – and such is the scale of the change that finalising it has proved difficult. Even at this late stage many of the exact details are still being worked out by Open Banking Ltd, the group responsible for implementation.

Now, for the first time, it’s possible to get a glimpse of what Open Banking will look like in practice, thanks to a £5 million prize funded by the UK banks.

READ NEXT
Open Banking starts next week. Meet the man making it happen

Open Banking starts next week. Meet the man making it happen
By ROWLAND MANTHORPE

Innovation foundation Nesta has released the names of the 20 successful entrants to its Open Up Challenge, which is funded by Barclays, Lloyds, Santander, HSBC, Royal Bank of Scotland and three Northern Irish banks. The list (which is published in full below) includes an impressive collection of well-known fintech startups, including challenger bank Tide, due diligence service DueDil and business loans firm (and former Wired Money Startup winner) Iwoca.

Launched in February 2017, the Open Up Challenge is intended to inspire the creation of apps and tools for small businesses (SMEs). Along with cash awards, Nesta enticed fintechs by offering access to a huge trove of anonymised SME banking transactions, giving them a chance to experiment with Open Banking-style datasets in advance of the system’s launch.

Iwoca is using this data to build a product that allows businesses to sign up to its services directly from their business bank account – a process that, at present, requires approval from the bank. The business loans startup also plans to start offering bank loan products through its platform, using newly-available information on which companies are eligible for loans. (This kind of banking metadata will also be released as part of Open Banking, along with information, for example, about the location of ATMs.)

“Open Banking gives us the opportunity to access a hugely rich source of real-time data,” Christophe Rieche, CEO of Iwoca, tells WIRED. “It’s liberalising access to data that’s previously been monopolised by banks which have failed to innovate.”

DueDil is using its access to the data to make “an online due diligence passport” for businesses looking to prove their financial credentials. The six-year-old business lets companies do due diligence on each other by building profiles of private firms. But to get data it has to trawl through open public sources such as Companies House, sift through companies’ websites and buy data from credit ratings agencies.

“Inclusion of Open Banking data provides a key component in the form of up-to-date financial health indicators, adding context to existing data and enabling better, faster, more confident decision-making,” DueDil co-founder Damian Kimmelman tells WIRED.

The 20 successful entrants receive a £50,000 cash grant, followed by the opportunity to compete for further prizes of £3.5m. Neither the funders nor Nesta takes equity in the finished products, which will compete for a final prize pot of £2m in September 2018.

“The quantity and quality of the interest we’ve had in the Challenge shows just how seriously fintechs are taking open banking,” says Chris Gorst, Open Up Challenge prize lead at Nesta. “Financial services are intrinsically about data, [yet] in the UK, huge quantities of customer data sit siloed within the handful of banks that provide the overwhelming majority of consumer and small business current accounts.

“This helps explain the paradox that, while finance creates more customer data than perhaps any other industry, there is relatively little diversity in product offerings and the industry has little reputation for customer-focused innovation.”

11 Feb

Báo cáo quản trị Doanh nghiệp – Công nghệ Microsoft Power Bi

Nhóm Báo cáo tài chính    
1 03/TNDN: Tờ khai quyết toán thuế TNDN (TT 28) Tờ khai quyết toán thuế TNDN (TT 119)
2 03/TNDN: Tờ khai quyết toán thuế TNDN (TT 156) Tờ khai quyết toán thuế TNDN (TT 119)
3 B01-DN: Bảng cân đối kế toán B01-DNN: Bảng cân đối kế toán
4 B02-DN: Báo cáo kết quả hoạt động kinh doanh B02-DNN: Báo cáo kết quả hoạt động kinh doanh
5 Tình hình thực hiện nghĩa vụ với nhà nước Bảng cân đối tài khoản
6 B03-DN: Báo cáo lưu chuyển tiền tệ (Theo phương pháp trực tiếp) B03-DN: Báo cáo lưu chuyển tiền tệ (Theo phương pháp trực tiếp)
7 B09-DN: Thuyết minh báo cáo tài chính B09-DN: Thuyết minh báo cáo tài chính
8 Bảng cân đối tài khoản (Mẫu số dư hai bên) F01-DNN: Bảng cân đối tài khoản
9 Bảng cân đối tài khoản Bảng cân đối tài khoản
10 Bảng cân đối tài khoản (Mẫu rút gọn) F01-DNN: Bảng cân đối tài khoản
Nhóm Sổ kế toán    
1 Sổ cái tài khoản 007 Sổ cài tài khoản
2 Sổ cái tài khoản Sổ cái tài khoản
3 Sổ cái tài khoản (Mẫu quản trị) Sổ cái tài khoản
4 Bảng tổng hợp phát sinh tài khoản Bảng tổng hợp phát sinh tài khoản
5 Sổ chi tiết các tài khoản Sổ chi tiết các tài khoản theo đối tượng
6 Bảng chi tiết phát sinh đối ứng Sổ nhật ký chung
7 Bảng tổng hợp chứng từ gốc Theo yêu cầu
8 Bảng tổng hợp chứng từ gốc cùng loại (Ghi Có TK) Bảng tổng hợp chứng từ gốc cùng loại (Ghi Có TK)
9 Bảng tổng hợp chứng từ gốc cùng loại (Ghi Nợ TK) Bảng tổng hợp chứng từ gốc cùng loại (Ghi Nợ TK)
10 S01-DN: Nhật ký – Sổ cái Theo yêu cầu
11 S02a-DN: Chứng từ ghi sổ (Mỗi chứng từ một trang) S02a-DN: Chứng từ ghi sổ
12 S02a-DN: Chứng từ ghi sổ S02a-DN: Chứng từ ghi sổ
13 S02a-DN: Chứng từ ghi sổ (Mẫu tổng tiền) S02a-DN: Chứng từ ghi sổ
14 S02b-DN: Sổ đăng ký chứng từ ghi sổ  
15 S02c1-DN: Sổ cái tài khoản (Hình thức Chứng từ ghi sổ) S02c1-DN: Sổ cái tài khoản (Hình thức Chứng từ ghi sổ)
16 S03a-DN: Sổ nhật ký chung Sổ nhật ký chung
17 S03b-DN: Sổ cái tài khoản (Hình thức Nhật ký chung) S03b-DN: Sổ cái tài khoản (Hình thức Nhật ký chung)
18 S06-DN: Bảng cân đối số phát sinh Bảng cân đối tài khoản
19 S03a2-DN: Sổ nhật ký chi tiền Sổ chi tiết quỹ tiền mặt
20 S31-DN: Sổ chi tiết thanh toán với người mua (Người bán) Sổ chi tiết tài khoản theo đối tượng
21 S32-DN: Sổ chi tiết thanh toán với người mua (Người bán) bằng ngoại tệ Sổ theo dõi thanh toán bằng ngoại tệ
22 S33-DN: Sổ theo dõi thanh toán bằng ngoại tệ Sổ theo dõi thanh toán bằng ngoại tệ
23 S34-DN: Sổ chi tiết tiền vay Sổ chi tiết tài khoản theo đối tượng
24 Sổ chi tiết tiền vay theo ngoại tệ Sổ theo dõi thanh toán bằng ngoại tệ
25 S38-DN: Sổ chi tiết các tài khoản Sổ chi tiết tài khoản theo đối tượng
26 Sổ chi tiết các tài khoản (Mẫu quản trị) Sổ chi tiết các tài khoản
27 S51-DN: Sổ theo dõi chi tiết nguồn vốn kinh doanh (TK 411) Theo yêu cầu
28 S03a1-DN: Sổ nhật ký thu tiền Sổ chi tiết quỹ tiền mặt
Nhóm báo cáo Ngân sách    
1 Tổng hợp theo tài khoản và mục chi Chi tiết phát sinh tài khoản theo đơn vị và khoản mục chi phí
2 Tổng hợp theo mục chi và tài khoản Chi tiết phát sinh tài khoản theo đơn vị và khoản mục chi phí
3 Tổng hợp theo mục thu và tài khoản Theo yêu cầu
4 Báo cáo tình hình cấp phát và sử dụng ngân sách Theo yêu cầu
5 Bảng dự toán chi Bảng dự toán chi
6 Báo cáo tình hình thu ngân sách Theo yêu cầu
7 Báo cáo tình hình thu ngân sách theo phòng ban Theo yêu cầu
8 Báo cáo tổng hợp tình hình thu, chi ngân sách Theo yêu cầu
9 Báo cáo tình hình sử dụng ngân sách theo phòng ban Tình hình chi phí thực hiện so với dự toán
Nhóm báo cáo Quỹ    
1 Sổ chi tiết tiền mặt tại quỹ bằng ngoại tệ Sổ kế toán chi tiết quỹ tiền mặt
2 Sổ nhật ký chi tiền Sổ chi tiết quỹ tiền mặt
3 S07-DN: Sổ quỹ tiền mặt Sổ quỹ tiền mặt
4 S07-DN: Sổ quỹ tiền mặt (Mẫu quản trị) Sổ quỹ tiền mặt
5 S07a-DN: Sổ kế toán chi tiết quỹ tiền mặt Sổ kề toán chi tiết quỹ tiền mặt
6 Sổ nhật ký thu tiền Sổ chi tiết quỹ tiền mặt
Nhóm báo cáo Ngân hàng    
1 S08-DN: Sổ tiền gửi ngân hàng Sổ tiền gửi ngân hàng
2 Sổ tiền gửi ngân hàng (Mẫu quản trị) Sổ tiền gửi ngân hàng
3 Sổ chi tiết tiền gửi ngân hàng bằng ngoại tệ Sổ tiền gửi ngân hàng
4 Bảng kê số dư ngân hàng Bảng kê số dư ngân hàng
5 Bảng đối chiếu với ngân hàng Theo yêu cầu
Nhóm báo cáo Mua hàng    
1 Danh sách nhà cung cấp Danh mục nhà cung cấp
2 Biên bản đối chiếu & xác nhận công nợ phải trả Theo yêu cầu
3 Bảng cân đối phát sinh công nợ phải trả Tổng hợp công nợ phải trả
4 Báo cáo nợ phải trả quá hạn Chi tiết công nợ phải trả theo hóa đơn
5 Tổng hợp công nợ phải trả theo nhân viên Tổng hợp công nợ phải trả theo nhân viên
6 Chi tiết tuổi nợ phải trả Chi tiết công nợ phải trả theo hóa đơn
7 Báo cáo phân tích tuổi nợ đến hạn theo nhà cung cấp Chi tiết công nợ phải trả theo hóa đơn
8 Báo cáo phân tích tuổi nợ quá hạn theo nhà cung cấp Chi tiết công nợ phải trả theo hóa đơn
9 Báo cáo tổng hợp mua hàng theo nhân viên và nhà cung cấp Theo yêu cầu
10 Báo cáo chi tiết tình hình hàng mua trả lại theo nhân viên và mặt hàng Sổ chi tiết mua hàng
11 Báo cáo chi tiết hàng mua giảm giá theo nhà cung cấp và hóa đơn Sổ chi tiết mua hàng
12 Báo cáo Sổ chi tiết đơn mua hàng theo ngày giao hàng Tình hình thực hiện đơn mua hàng
13 Báo cáo chi tiết hàng mua trả lại theo nhà cung cấp và hóa đơn Sổ chi tiết mua hàng
14 Báo cáo chi tiết hàng mua giảm giá theo nhà cung cấp và mặt hàng Sổ chi tiết mua hàng
15 Báo cáo chi tiết hàng mua trả lại theo nhà cung cấp và mặt hàng Sổ chi tiết mua hàng
15 Báo cáo chi tiết tình hình thực hiện đơn mua hàng Tình hình thực hiện đơn mua hàng
16 Sổ chi tiết mua hàng theo nhân viên và nhà cung cấp Sổ chi tiết mua hàng (Nhóm theo nhân viên, nhà cung cấp)
17 Nhật ký hàng mua giảm giá Xem trên danh sách hàng mua giảm giá
18 Báo cáo chi tiết tình hình hàng mua giảm giá theo mặt hàng Sổ chi tiết mua hàng
19 Báo cáo tổng hợp tình hình mua hàng, chiết khấu, trả lại, giảm giá theo nhân viên và mặt hàng Tổng hợp mua hàng
20 Báo cáo tổng hợp tình hình hàng mua giảm giá theo nhà cung cấp và mặt hàng Tổng hợp mua hàng
21 Hóa đơn mua hàng chưa thanh toán Chi tiết công nợ phải trả theo hóa đơn
22 Báo cáo tình hình thực hiện đơn mua hàng theo ngày giao hàng Tình hình thực hiện đơn mua hàng
23 Báo cáo tình hình thực hiện đơn mua hàng theo nhân viên Tình hình thực hiện đơn mua hàng
24 Báo cáo tình hình thực hiện đơn mua hàng theo mặt hàng Tình hình thực hiện đơn mua hàng
25 Sổ chi tiết mua hàng theo nhân viên Sổ chi tiết mua hàng
26 Sổ chi tiết mua hàng Sổ chi tiết mua hàng
27 Sổ chi tiết mua hàng theo nhà cung cấp Sổ chi tiết mua hàng
28 Sổ chi tiết mua hàng theo nhà cung cấp và mặt hàng Sổ chi tiết mua hàng
29 Sổ chi tiết mua hàng theo mặt hàng và nhà cung cấp Sổ chi tiết mua hàng
30 Sổ chi tiết mua hàng theo mặt hàng và nhân viên Sổ chi tiết mua hàng
31 Sổ chi tiết mua hàng theo mặt hàng Sổ chi tiết mua hàng
32 Sổ chi tiết mua hàng theo đơn mua hàng Sổ chi tiết mua hàng
33 Báo cáo chi tiết tình hình hàng mua giảm giá theo nhân viên và mặt hàng Sổ chi tiết mua hàng
34 Báo cáo chi tiết tình hình mua hàng, chiết khấu, trả lại, giảm giá theo nhân viên và mặt hàng Sổ chi tiết mua hàng (Nhóm theo nhân viên, mặt hàng)
35 Báo cáo tổng hợp tình hình mua hàng, chiết khấu, trả lại, giảm giá theo mặt hàng Tổng hợp mua hàng
36 Bảng kê mua hàng Sổ chi tiết mua hàng
37 Nhật ký đơn mua hàng Xem trên danh sách đơn mua hàng
38 Nhật ký đơn mua hàng (Mẫu 02) Xem trên danh sách đơn mua hàng
39 Nhật ký hàng mua trả lại, giảm giá Mẫu này chưa đáp ứng
40 Nhật ký hàng mua trả lại Xem trên danh sách Trả lại hàng mua
41 Thống kê đơn mua hàng còn nợ Tình hình thực hiện đơn đặt hàng
42 Tổng hợp mua hàng theo nhân viên Tổng hợp mua hàng theo mặt hàng và nhân viên
43 Tổng hợp mua hàng theo nhà cung cấp Tổng hợp mua hàng
44 Tổng hợp mua hàng theo nhà cung cấp và mặt hàng Tổng hợp mua hàng
45 Tổng hợp mua hàng theo đơn mua hàng Tình hình thực hiện đơn mua hàng
46 Báo cáo chi tiết tình hình hàng mua trả lại theo mặt hàng Sổ chi tiết mua hàng
47 Báo cáo tổng hợp tình hình hàng mua trả lại theo nhà cung cấp và mặt hàng Tổng hợp mua hàng
48 Báo cáo tổng hợp mua hàng theo mặt hàng và nhân viên Tổng hợp mua hàng theo mặt hàng và nhân viên
49 S03a3-DN: Sổ nhật ký mua hàng Sổ nhật ký mua hàng
50 Sổ nhật ký mua hàng (Mẫu quản trị) Sổ nhật ký mua hàng
51 Chi tiết công nợ phải trả Chi tiết công nợ phải trả nhà cung cấp
52 Chi tiết công nợ phải trả theo ngoại tệ Chi tiết công nợ phải trả nhà cung cấp
53 Chi tiết công nợ phải trả theo ngoại tệ (Chi tiết theo mặt hàng) Chi tiết công nợ phải trả nhà cung cấp
54 Chi tiết công nợ phải trả theo nhân viên Chi tiết công nợ phải trả nhà cung cấp theo nhân viên
55 Chi tiết công nợ phải trả theo mặt hàng Chi tiết công nợ phải trả nhà cung cấp
56 Chi tiết công nợ phải trả theo hóa đơn Chi tiết công nợ phải trả theo hóa đơn
57 Chi tiết công nợ phải trả theo chứng từ và tài khoản Chi tiết công nợ phải trả theo hóa đơn
58 Chi tiết công nợ phải trả theo hóa đơn (Nhóm theo tài khoản) Chi tiết công nợ phải trả theo hóa đơn
59 Tổng hợp công nợ phải trả (Cộng theo nhóm) Tổng hợp công nợ phải trả (Nhóm theo nhóm NCC)
60 Báo cáo tổng hợp tình hình công nợ nhà cung cấp theo nhân viên Tổng hợp công nợ phải trả theo nhân viên
61 Tổng hợp công nợ phải trả theo ngoại tệ Tổng hợp công nợ phải trả
62 Tổng hợp công nợ phải trả theo ngoại tệ (Cộng theo nhóm) Tổng hợp công nợ phải trả
63 Tổng hợp công nợ phải trả theo ngoại tệ (Quy đổi) Tổng hợp công nợ phải trả
64 Tổng hợp công nợ phải trả theo ngoại tệ (Quy đổi, cộng theo nhóm) Tổng hợp công nợ phải trả
65 Tổng hợp công nợ phải trả Tổng hợp công nợ phải trả
66 Tổng hợp tuổi nợ phải trả  
67 Tổng hợp tuổi nợ phải trả (Cộng theo nhóm) Chi tiết công nợ phải trả theo hóa đơn
68 Báo cáo tổng hợp công nợ nhà cung cấp theo tuổi nợ đến hạn Theo yêu cầu
69 Báo cáo tổng hợp công nợ nhà cung cấp theo tuổi nợ quá hạn Theo yêu cầu
70 Tổng hợp mua hàng theo mặt hàng Tổng hợp mua hàng
71 Tổng hợp mua hàng theo mặt hàng và nhà cung cấp Tổng hợp mua hàng ( theo mặt hàng và NCC)
Nhóm báo cáo Bán hàng    
6 Bảng kê công nợ lệ phí phải thu Theo yêu cầu
22 Báo cáo ngày thanh toán theo khách hàng Theo yêu cầu
26 Báo cáo so sánh số lượng bán của từng khách hàng theo thời gian( theo tháng, quý) Theo yêu cầu
45 Chi tiết bán hàng theo kho Theo yêu cầu
65 Chi tiết đơn đặt hàng theo khách hàng  
71 Nhật ký đơn đặt hàng Có thể xem trên danh sách đơn hàng,nhưng không có cột tài khoản Nợ- Có
73 Nhật ký hàng bán giảm giá Xem trên danh sách hàng giảm giá
74 Nhật ký hàng bán trả lại Xem trên danh sách hàng bán trả lại
75 Nhật ký hàng bán trả lại, giảm giá  
87 Sổ theo dõi chính sách giá bán Hiện nay xem trên danh sách chính sách giá
97 Tổng hợp bán hàng theo kho và mặt hàng Theo yêu cầu
103 Tổng hợp bán hàng theo nhân viên và khách hàng Theo yêu cầu
120 Tổng hợp tuổi nợ phải thu (Cộng theo nhóm) SME 2017 phải xem 2 báo cáo phân tích công nợ, Theo yêu cầu báo cáo nào thể hiện được chưa đến hạn bao nhiêu, quá hạn từ 1-30 ngày, 31-60 ngày… là bao nhiêu; Theo yêu cầu cột só dư đầu kỳ
Báo cáo Quản lý hóa đơn    
1 Báo cáo tình hình sử dụng hóa đơn (Mẫu quản trị) Theo yêu cầu
Báo cáo Kho    
4 Liệt kê phiếu xuất kho chưa thực hiện xuất hóa đơn Chỉ biết được phiếu xuất kho nào chưa lập chứng từ bán hàng, xem trên danh sách nhập – xuất kho
27 Sổ chi tiết vật liệu, dụng cụ, sản phẩm hàng hóa (Có giá bán) Theo yêu cầu
30 Tình hình xuất kho vật tư hàng hóa theo nhân viên và mặt hàng Theo yêu cầu
33 Sổ chuyển kho nội bộ Theo yêu cầu
Báo cáo TSCĐ    
Báo cáo tiền lương    
1 Danh sách cán bộ Danh sách nhân viên
2 01a-LĐTL: Bảng chấm công Theo yêu cầu
10 Báo cáo tổng hợp lương cán bộ Theo yêu cầu
Báo cáo Thuế    
1 Bảng kê bán lẻ hàng hóa, dịch vụ trực tiếp cho người tiêu dùng Theo yêu cầu
2 01/PHXD: Tờ khai phí xăng dầu Theo yêu cầu ==> Bỏ theo thông tư mới
5 01-1/GTGT: Bảng kê bán ra thuế GTGT (TT 156) Theo TT 119 không phải làm tờ khai này
6 Sổ theo dõi thuế GTGT (Mẫu quản trị) Chưa
7 02/GTGT: Tờ khai thuế GTGT dành cho dự án đầu tư (TT60) Theo TT 119 không phải làm tờ khai này
9 01A/TNDN: Tờ khai thuế thu nhập doanh nghiệp tạm tính (TT60) Theo TT 119 không phải làm tờ khai này
10 01A/TNDN: Tờ khai thuế thu nhập doanh nghiệp tạm tính Theo TT 119 không phải làm tờ khai này
11 01B/TNDN: Tờ khai thuế thu nhập doanh nghiệp tạm tính Theo TT 119 không phải làm tờ khai này
12 01B/TNDN: Tờ khai thuế thu nhập doanh nghiệp tạm tính (TT60) Theo TT 119 không phải làm tờ khai này
13 01/TNDN: Bảng kê thu mua hàng hóa, dịch vụ mua vào không có hóa đơn Theo TT 119 không phải làm tờ khai này
14 04/GTGT: Tờ khai thuế giá trị gia tăng trực tiếp trên doanh thu (TT 156) Theo TT 119 không phải làm tờ khai này
16 04-1/GTGT: Bảng kê bán ra thuế GTGT trực tiếp trên doanh thu (TT 156) Theo TT 119 không phải làm tờ khai này
18 05/GTGT: Tờ khai thuế GTGT Theo yêu cầu
21 01-1/GTGT: Bảng kê bán ra thuế GTGT (TT60) Theo TT 119 không phải làm tờ khai này
22 01-2/GTGT: Bảng kê mua vào thuế GTGT (TT60) Theo TT 119 không phải làm tờ khai này
24 01-2/GTGT: Bảng kê mua vào thuế GTGT (TT 156) Theo TT 119 không phải làm tờ khai này
26 01-3/GTGT: Bảng kê hàng hóa, dịch vụ được áp dụng thuế suất thuế GTGT 0% Theo TT 119 bỏ mẫu này
27 01/GTGT: Tờ khai thuế giá trị gia tăng (TT60) Theo TT 119 không phải làm tờ khai này
29 01/GTGT: Tờ khai thuế giá trị gia tăng (TT 156) Theo TT 119 không phải làm tờ khai này
32 01-7/GTGT: Bảng kê số lượng xe ô tô, xe hai bánh gắn máy bán ra Theo TT 119 bỏ mẫu này
33 Phụ lục 01-4A/GTGT: Bảng phân bổ thuế GTGT đầu vào được khấu trừ tháng Theo TT 119 bỏ mẫu này
34 Phụ lục 01-4B/GTGT: Bảng phân bổ thuế GTGT đầu vào được khấu trừ năm Theo TT 119 bỏ mẫu này
37 Báo cáo tình hình sử dụng hóa đơn (Mẫu quản trị) Theo yêu cầu
Báo cáo Giá thành    
3 Bảng tổng hợp so sánh tổng quát định mức vật tư Theo yêu cầu
6 Tổng hợp chi phí sản xuất theo yếu tố Theo yêu cầu
12 Báo cáo tiến độ thực hiện công việc Theo yêu cầu
13 Chi tiết chi phí sản xuất theo yếu tố Theo yêu cầu
25 Chi tiết công nợ theo nhân viên và đối tượng tập hợp chi phí Theo yêu cầu
28 Chi tiết công nợ theo đối tượng tập hợp chi phí và nhân viên  
33 Tổng hợp công nợ theo nhân viên và đối tượng tập hợp chi phí Theo yêu cầu
35 Tổng hợp công nợ theo đối tượng tập hợp chi phí và nhân viên Theo yêu cầu
39 Tổng hợp chi phí sản xuất theo yếu tố Theo yêu cầu
40 Sổ tổng hợp tài khoản theo đối tượng tập hợp chi phí và khoản mục chi phí Theo yêu cầu
Báo cáo CCDC    
7 Báo cáo chi tiết hỏng CCDC Bỏ không theo dõi hỏng
Báo cáo Hợp đồng    
1 Báo cáo khoản mục chi phí theo tài khoản và hợp đồng bán Theo yêu cầu
4 Chi tiết hợp đồng Theo yêu cầu
5 Báo cáo chi phí theo hợp đồng bán (Quản trị nội bộ)  
8 Tổng hợp công nợ theo nhân viên và hợp đồng Theo yêu cầu
9 Thống kê đơn đặt hàng còn nợ (Chưa sinh hợp đồng bán)  
11 Tổng hợp công nợ theo hợp đồng và nhân viên Theo yêu cầu
14 Chi tiết công nợ theo hợp đồng và nhân viên Theo yêu cầu
15 Chi tiết tài khoản theo hợp đồng và đối tượng tập hợp chi phí  
17 Sổ chi tiết theo dõi công nợ hợp đồng mua Theo yêu cầu
21 Chi tiết công nợ theo nhân viên và hợp đồng Theo yêu cầu
25 Sổ chi tiết tài khoản theo hợp đồng  
27 Báo cáo tình hình thu hồi công nợ  

05 Feb

Tencent’s WeChat Pay is AliPay’s major rival

Chris Skinner

I’ve written a lot about Ant Financial – they’re a 30,000 word case study in my new book – mainly because they are the first payments platform to focus upon global reach for financial inclusion. That is not to say that I am ignoring the other platforms: PayPal, Stripe, PayTM and such like. In fact, one other big platform of note is WeChat Pay from Tencent.

So I was delighted to see that Steven Millward wrote a great piece on Tech in Asia about WeChat the other day. The fact is that WeChat and WeChat Pay in China is a monster but, to go global, they will have more challenges as Ant Financial has got the key partners first. In other words, imho, Ant has first mover advantage. Mind you, that has not stopped WeChat from competing effectively before, as evidenced in this timeline article from Steven.

 

7 years of WeChat

WeChat was born seven years ago. Here’s a potted history of China’s most essential app.

October 2010: In development

In a Tencent office in the southern Chinese city of Guangzhou, away from the company’s Shenzhen HQ, a small team started working on a mobile chat app.

January 21, 2011: Tencent debuts messaging app

It began quietly on this day seven years ago when Tencent – already China’s social media giant with its MSN-style QQ instant messenger and accompanying Qzone social network (with 780 million active users at the start of 2011) – made a mobile-only messaging app. It was a big break from Tencent’s very PC-era social networks and online gaming empire.

Here’s how it looked at launch, initially only on iOS:

Image credit: The Next Web

The new app was called Weixin in Chinese. There was no English name yet. The Next Web, the only major international news outlet to report the launch, transliterated the Chinese name and dubbed it “micro letters.”

China’s three telecoms companies already had online messaging apps that were proving popular, but Tencent wanted to bring down the telco barriers that existed between people. Screw the telcos: its chat app would disrupted SMS and work on any phone and mobile service.

The launch of Weixin came as Kik and WhatsApp – both released in 2010 – were gaining traction.
WeChat’s first iteration had basic features: text messaging, creating voice clips, and, sending photos.

August 2011: Adds video clips

Anyone familiar with the dizzying array of features in Tencent’s other products would have guessed that WeChat would not stay on minimalist mode for long.

Seven months after launching, WeChat added video clips and a “find nearby users” function.

With Chinese people slowly shifting from 2G to 3G, WeChat ensured that videos would be shrunk down to reduce the cost of sending them when not on wifi. A one-minute video could be condensed so that it was just 1 MB in size.

March 2012: Hits 100 million registered users

About 14 months after launching, WeChat hit a major milestone when Tencent reported it had 100 million registered users. This was before the company started revealing the number of monthly active users.

April 2012: Weixin becomes WeChat

After a year of Tech in Asia calling the app Weixin, Tencent picked an English name for it.
The move seemed to signal that the Chinese tech titan wanted to go global with its newest social network, something that the company had never done before.

Later that month, WeChat’s v4.0 update added in the Thai, Vietnamese, Indonesian, and Portuguese languages. It already had English.

June 2012: Chatting up India

Tencent pushed WeChat into India with a high-profile, celebrity-filled launch – including lots of pricey ads on Facebook. Of course, one of its ads referenced Bollywood.

The timing seemed great, as India was just about to join in the smartphone boom that was already sweeping China. But, as we now know, India’s social media addicts love Facebook and WhatsApp instead.

It was the first of many overseas fails for WeChat.

July 2012: Voice and video calls appear

The new features kept on coming.

July 2012: Alibaba tries to kill off WeChat

Seeing WeChat as an eventual threat to its ecommerce empire, Alibaba launched a WeChat-esque social app of its own.

It didn’t take off.

But Jack Ma was right to be worried about WeChat as Tencent’s wunderkid app later ventured into online shopping, in-store payments, and a number of other areas that treaded on Alibaba’s toes.

Summer of 2012: Brands invade WeChat as QR codes swamp China

By the summer of 2012, a new trend was emerging: QR codes. QR codes everywhere. They’re very evident in China to this day.

Tencent opened up WeChat to brand accounts, prompting Chinese companies and foreign brands doing business in China to leap on board, keen to interact with China’s consumers in an arena that’s more direct and intimate than the nation’s other hot social network, the Twitter-esque Weibo.

Media outlets and celebrities also rushed to get their own WeChat public accounts.

To get people to add and follow a brand account, a company could display its personalised QR code anywhere and encourage shoppers to scan it. This is how QR codes became ubiquitous in China.

September 2012: Syncs with Facebook and Twitter

By now, WeChat has animated emoji as well as downloadable sticker packs. The app also allowed users outside China to connect their Facebook and Twitter accounts in order to find more buddies to add into the messaging app.

Facebook and Twitter are blocked in China.

The move showed that while some features were largely limited to the Chinese market – like the brand accounts – Tencent was still aiming at global expansion with a slimmed-down version of WeChat.

September 2012: Hits 200 million registered users

Its userbase doubled in the space of six months.

Late 2012: Backlash begins

WEChat had gotten so big that stories of terrible things happening through the app start to make national news in China. A woman was reportedly ambushed and murdered when a man who was stalking her using WeChat’s “people nearby” feature attempted to rob her.

That feature is switched off by default.

A few months after that attack, WeChat was implicated in the trial of a sexual predator who used the same location-based function to befriend and “groom” 160 boys, some aged under 13, who were living nearby.

December 2012: BlackBerry debut

Back when BlackBerry was still clinging on to relevance, Tencent came out with WeChat for BlackBerry. It made sense as part of its expansion into new markets with lots of young phone users where BlackBerry was still hip, like Indonesia and several countries across the Middle East.

A version for the doomed BB10 came later, in July 2013.

January 2013: WeChat caught censoring users around the world

WeChat entered the global limelight in the worst possible way when it was seen censoring users around the world who entered certain politically sensitive phrases into the app.

First reported by Tech in Asia, the development caused an international backlash against the app. It highlighted growing concerns of Chinese companies “exporting censorship” as they expanded overseas.

January 2013: 300 million registered users

The app reached 300 million devotees a few days after its second birthday.

February 2013: WeChat whacks Weibo

By now, it’s clear that WeChat had become huge and was threatening to surpass Weibo as China’s favorite social app, thanks to some help from its Facebook-esque Moments section.

Charles Chao, CEO of Weibo parent company Sina, conceded to investors that users were spending less time on Weibo.

February 2013: Hollywood glam

This was another threat to Weibo, which capitalized on the appeal of interacting in real time with big-name users. Stars such as Selena Gomez, John Cusack, Maggie Q, Paris Hilton, and the Backstreet Boys signed up to WeChat so as to engage with Chinese fans.

February 2013: Chasing after Indonesia

Just as in India, however, not much came of this, despite investing heavily in an Indonesian joint venture.

May 2013: A sign of progress in Thailand

Emulating the array of features and services being built into WeChat by companies in China, a major beverage firm in Thailand allowed customers to order water deliveries from its WeChat brand account.

In the end, however, Line and Facebook won the Thai market.

May 2013: Finally reveals figure for active users

WeChat had 190 million monthly active users.

A month prior, WhatsApp revealed it had 200 million. While WeChat seemed poised to be bigger than WhatsApp at the time, the US-based app – later acquired by Facebook – would ultimately steam ahead as WeChat failed to grow substantially outside China.

July 2013: Messi shoots

Back when WeChat still seemed to have a good shot as going global, the company hired footballer Lionel Messi. He served as WeChat’s billboard ad star and brand ambassador.

Lionel Messi’s WeChat billboard spotted in Hong Kong / Photo credit: Engadget’s Richard Lai.

August 2013: Payments and gaming gamble

With its latest update, WeChat added in social gaming integration as Tencent published a handful of its own games. Third-party games were later added to support WeChat’s Games Center.

In another big move, the app offered mobile payments. It was the start of the WeChat Wallet, which can be connected with a variety of Chinese-issued credit and debit cards. In time, these online and cashless in-store payments would expand to challenge ecommerce titan Alibaba.

August 2013: Overseas users flourish

Messi scored a blinder for WeChat, boosting it to 100 million registered users outside of mainland China. However, no active user count was provided.

To this day, Tencent has never updated this figure, leaving observers wondering if anyone outside China is using WeChat any more. Spoiler alert: they’re not.

See: WeChat’s global expansion has been a disaster

August 2013: Weibo launches rival messaging app

Aaaaaaaaand that’s the last we ever heard of it.

September 2013: WeChat vending machines

During a month-long experiment, 300 WeChat-branded vending machines popped up in subway stations in parts of Beijing. After this, a few other vending machine companies incorporated cashless payments via WeChat’s Wallet – as well as Alibaba’s affiliate Alipay app. They’re now a fairly common sight across Chinese cities.

November 2013: Xiaomi sellout

Selling stuff through WeChat is now common, so Xiaomi’s first experiment turned out to be a sign of things to come. Xiaomi sold 150,000 phones in less than 10 minutes in its WeChat-only flash sale.

January 2014: Taxiiiiiii!

WeChat started 2014 with another big push into mobile commerce. The partnership with Didi Dache (which would later merge with its main rival, Kuaidi Dache, and change its name to Didi Chuxing) allowed people to hail a cab and pay for it all within WeChat, totally without using cash. The move came days after Tencent contributed to a US$100 million funding round for Didi.

March 2014: Shopping shake-up

Tencent, which had been struggling with its scattered online shopping ventures over the years, took a big and drastic step – it bought a stake in Alibaba nemesis JD. This allowed Tencent to embed JD’s store into WeChat as the main shopping area.

It’s another direct taunt against Alibaba.

May 2014: WeChat stores

Building on the WeChat Wallet for payments, Tencent now allowed any business – whether major companies or small players – to open a store inside a WeChat brand account. This was exactly what Jack Ma was so worried about.

Image credit: Tech in Asia

June 2014: SMS nearly dead

SMS was declared pretty much dead in China mid-2014, with the average person sending just one SMS per day. (One wonders how many are actually just spammers.)

June 2014: Cash transfers

WeChat’s mobile wallet got even more useful, allowing people to send money to their buddies.

Summer of 2014: Forget apps

A new trend was emerging in China that year. Startups didn’t bother to build apps and were instead launching solely as a WeChat brand account.

“Users are increasingly spending more time within WeChat, time that’s taken away from other native apps. We are positioning ourselves in front of this trend,” a startup founder told as at the time. See the story here.

September 2014: Pay for your ice cream

In-store cashless payments have been on the cards since WeChat Wallet first appeared. They appeared for real this time, in conjunction with a handful of big-name chains, including Dairy Queen.

January 2015: Big brands buy ads

WeChat started 2015 with a big move to bring in more money. The ads appeared in the WeChat Moments feed, not in personal messages, allowing people to ‘like’ and comment on the ads just like any other Moments post. BMW and Coca-Cola showed the first ads.

Screenshots via Weibo

March 2015: Half a billion

WeChat revealed it ended 2014 with 500 million users each month.

March 2015: Uber blocked

Uber’s official brand account got blocked on WeChat, revealing a dark side to WeChat’s huge influence on social media activity in China. This deletion was a big blow to the US firm’s social media marketing and visibility in the country.

Many people cried foul since Tencent has a stake in Uber archrival Didi.

Tencent maintained that Uber’s account had violated the terms of service by offering deals or “enticing” users to share things with their friends. This is considered spamming in WeChat’s terms of service agreement.

Uber returned to WeChat shortly after, only to be removed again in December.

July 2015: Censorship slammed

Being a Chinese company, Tencent has to self-censor WeChat a lot. That’s how the media works there. A report by Citizen Lab showed the full extent of the political manipulation in the messaging app when its study revealed that 1.6 percent of posts made by brand accounts – like media outlets, brands, celebrities, and small companies – get removed after being posted.

Aside from all that, the report found evidence of censorship bots that block posts before they’re even published.

January 2016: WeChat used in courts

In a further sign of how pervasive WeChat is in life in China, some judges in the country are now using WeChat’s text and photo-sharing features during trials.

February 2016: Scanning China’s tourists

WeChat went global with its in-store payments service global as it sought to tap into China’s big-spending tourists. To do this, WeChat signed up stores around the world, so long as they’re ready to scan QR codes with their cash registers in the same way that’s done in pretty much every shop in China. The company’s push focused on areas that are hotspots for the nation’s outbound travelers.

Paying for Starbucks using WeChat in China / Photo credit: Tencent

Chinese tourists spent almost US$230 billion overseas in 2015, so both WeChat and Alipay were both chasing after such a big market.

Spring 2016: Tip your blogger

Reminiscent of those “buy-me-a-coffee” buttons seen some on some blogs, WeChat allowed bloggers and media outlets to collect tips from readers.

March 2016: 700 million

WeChat revealed newest figure for active users each month.

April 2016: Fake news

Keen to avoid the ire of regulators, Tencent clamped down on the spreading of rumors within WeChat. In addition, it issued rules aimed at banning clickbait headlines and “vulgar” content, soliciting shares and follows, flushing out spam, as well as prohibiting anything that “subverts” the state.

April 2016: No slacking

WeChat made a bold move into workspaces with the launch of its office chat app. Despite the inevitable Slack comparisons, WeChat Enterprise looks very different from the US-based startup and is focused on mobile.

Yet again, Tencent treaded on Alibaba’s toes as Jack Ma’s firm already has a growing workplace messaging app.

Summer 2016: Can’t take my eyes off you

WeChat accounted for 35 percent of time Chinese people spend glued to their phones, according to data from KPCB’s Mary Meeker.

The big three tech giants – Tencent, Alibaba, Baidu, in descending order – make up 77 percent of people’s time.

October 2016: Pedal power

Just as Tencent backed ride-hailing app Didi in its early days, the social media giant placed a bet on Mobike’s dockless two-wheeler service. Mobike got a further boost a few months later as Tencent baked the service into WeChat. Bike-sharing apps soon became a new facet of the unending Alibaba-Tencent rivalry when Jack Ma’s firm funded ofo, Mobike’s closest competitor.

January 2017: App store killer

WeChat started last year with a bang by launching “mini programs,” apps which require no download or install and which work only within the popular messaging app.

Google showed off a similar feature called Instant Apps for Android in early 2016, but it has yet to launch.

Major Chinese and overseas brands – from Didi to McDonalds, Dianping to Starbucks – had instant apps ready for the big public reveal. This is McDonald’s mini program devoted to coupons:

WeChat instant apps / WeChat Mini Programs

GIF credit: Tech in Asia

WeChat instant apps are an evolution of its brand accounts, which allow for online shopping and a wide range of other services.

With so many features possible, the new mini programs posed a challenge to Apple’s App Store and to the array of Android app stores popular in China. Could this be the future of apps?

April 2017: Leave your wallet at home

China’s smartphone owners are way ahead of everyone else on the planet when it comes to paying for things with their phones.

How pervasive is that in everyday life? Well, 45 percent of WeChat users paid in stores using the messaging app’s wallet feature because they don’t even carry cash. That’s according to a recent study by Penguin Intelligence. Not bothering to carry cash is the third reason cited for using WeChat to pay for their Starbucks or groceries – the speed and ease being the top two factors.

Although WeChat Pay was growing well, Alibaba’s Alipay spin-off seemed to be the market leader, as shown by a variety of metrics.

By now, WeChat had 900 million monthly users.

April 2017: Tipping infuriates Apple

It turned out that WeChat’s move a year earlier to let users to tip bloggers infuriated Apple.
Months of behind-the-scenes negotiations between Apple and Tencent resulted in the Chinese company being forced to direct its tipping through Apple’s own in-app purchase system, allowing the California-based company to take its customary cut of the action.

May 2017: Search engine launch

Not content with trying to kill off the app stores, WeChat was now threatening to topple Baidu, China’s leading search engine, Baidu.

It lets users trawl through WeChat brand accounts, articles, music, and more. With so much content posted to WeChat each day, including news from media outlets via their brand accounts, it’s basically an equivalent to the actual internet. So WeChat’s new search function made all that easier to navigate.

Welcome to the WeChat walled garden.

See: Cashless China: shoppers to spend $15t on their phones

November 2017: Never shutting up

WeChat’s chatty devotees set a new record, sending 38 billion messages per day. That’s 25 percent more than last year.

For a sense of scale, WhatsApp peaked at 55 billion per day at around the same time.

In addition, WeChat revealed in its annual report that it saw 6.1 billion voice messages – those walkie-talkie-style missives – sent each day, alongside 205 million video and voice calls. On the content side, there were 3.5 million active brand accounts.

November 2017: Nearly a billion

In the newest data available at time of publishing, WeChat has 980 million monthly users.

November 2017: Half a trillion

And that’s not the only huge number to grapple with. The ongoing success of WeChat – albeit just in one country – propelled Tencent to its highest ever valuation, reaching US$500 billion, joining the half-trillion elite alongside Apple, Alphabet, Amazon, Facebook, and Microsoft.

December 2017: Instant games

After starting the year with its instant apps shocker, WeChat ended it by rolling out exactly the same thing for games. One called Tiao Yi Tiao – a simple jumping challenge – immediately goes viral within WeChat. It looks like this:

GIF by Tech in Asia

Dubbed “mini games,” there’s actually nothing mini about them. They’re full-fledged games – made by Tencent as well as a variety of game studios – that you can play instantly without having to download.

December 2017: ID card

In a first for WeChat, one huge Chinese city has allowed its residents to store their national identity cards inside the messaging app. The ID cards are linked to WeChat using facial recognition.

The scheme is a pilot project in the southern city of Guangzhou, which has 14 million residents.

Winter 2017: Going underground

A number of cities started allowing riders to quickly scan their phones at the gate to pay for transport. As with shops, most subway systems are accepting both WeChat and Alipay.

Photo credit: IC

Guangzhou and nearby Shenzhen were among the first large cities to make this move, which looks set to percolate across the nation in the new year. Shanghai joined the fun at the start of 2018.

January 2018: We’ve got a file on you

WeChat got a rough start to the new year with reports that the app stores users’ chats as part of a system that snooped on what people were saying.

“WeChat does not store any users’ chat history. That is only stored in users’ mobiles, computers and other terminals,” the firm said in a post. “WeChat will not use any content from user chats for big data analysis. Because of WeChat’s technical model that does not store or analyze user chats, the rumor that ‘we are watching your WeChat every day’ is pure misunderstanding.”

However, the chat app continues to filter out messages related to sensitive political topics, a practice that was first exposed in early 2013.

January 2018: Making up with Apple

After last year’s falling out over WeChat’s in-app tips for bloggers, Apple and Tencent started the year with a reconciliation.

Now that Apple has altered its App Store rules to allow people to gift money to each other in apps without the iPhone maker taking a cut, WeChat’s Allen Zhang told media that a deal had been reached for the original tips function to be reinstated.

 

03 Feb

Are you as a bank operating an innovation center?

Fun facts if your bank operates an Innovation Center (based on a Capgemini report):
– Silicon Valley is no longer the default choice
– Electronics and IT sector have added the highest number of innovation centers, taking over the top spot from manufacturing
– 1 out of every 2 newly added innovation centers are focused on arti cial intelligence
– But, are innovation centers making organizations more innovative?
PDF: https://www.capgemini.com/wp-content/uploads/2017/12/innovationcenter_infographic.pdf

21 Jan

Vietnam’s football continues miracle by reaching semifinals of U-23 Asian Cup

 

Vietnam's football continues miracle by reaching semifinals of U-23 Asian Cup

Vietnamese players celebrate during the quarterfinal match against Iraq on January 20, 2018. Photo by VnExpress/Anh Khoa.

Football fans have gone wild after Vietnam’s dramatic 5-3 penalty shootout win over Iraq.

Vietnam’s national U-23 football team qualified for the semifinals of the AFC U-23 Championship following a historic victory over Iraq on Saturday.

Against the competition’s former champion, the Vietnamese team was considered the underdog but surprisingly took the lead with an early goal. Iraq equalized with a successful penalty kick later in the first half, and a goalless second half brought the two teams to extra time, which saw each team score twice.

Vietnam finally emerged victorious in the penalty shootout after successfully converting all five shots, while one penalty shot from the Iraqi team was blocked by the Vietnamese goalkeeper.

In the remaining quarterfinal matches, Qatar beat Palestine 3-2 while Uzbekistan achieved a 4-0 victory over the reigning champion Japan and South Korea eliminated Malaysia after a 2-1 win.

Vietnam will play against Qatar while Uzbekistan will face South Korea in the semifinals next Tuesday.

This is the first time a Southeast Asian team has reached the semifinals in the history of the competition. Earlier, Vietnam also became the first Southeast Asian team to achieve a group stage victory by defeating Australia, and one of the first teams from the region to reach the quarterfinals together with Malaysia.

“We deserve the victory today,” Vietnam’s head coach Park Hang-seo said after the match, stressing that it was not just pure luck that the team has managed to go far in the competition.

“I and the players would like to thank all the fans for supporting us throughout the journey,” Park said.

Prime Minister Nguyen Xuan Phuc himself congratulated the team in a letter and wished them “health, sucess to firmly advance into the final.”

“The Vietnam U-23 team has worked hard and gifted the fans an unimaginably crazy match,” Tran Quoc Tuan, vice chairman of the Vietnam Football Federation (VFF), told VnExpress.

According to Tuan, the Ministry of Culture, Sports and Tourism and the VFF would each award the team VND1 billion ($44,000) for the achievement.

The team would also receive another VND1.2 billion from three individual fans.

Fans gone wild

Football fans across the country erupted into cheers and took to the streets to celebrate the historic victory, jamming the roads in the process. 

A fan waves the Vietnamese flag in the middle of Hang Bai Street in downtown Hanoi as other fans cheer on their motorbikes.

A fan waves the Vietnamese flag in the middle of Hang Bai Street in downtown Hanoi as other fans cheer on their motorbikes.

Thousands of fans storm through the barriers around the pedestrian zone around Hoan Kiem Lake as they celebrate Vietnams victory over Iraq in the U-23 Asian Cup.

Thousands of fans storm through the barriers around the pedestrian zone around Hoan Kiem Lake as they celebrate Vietnam’s victory over Iraq in the U-23 Asian Cup.

Celebrations around the Hoan Kiem Lake are amplified by pots and pans.

Celebrations around the Hoan Kiem Lake are amplified by pots and pans.

Ho Chi Minh City in the south is also filled with bikers waving Vietnamese flags.

Ho Chi Minh City in the south is also filled with bikers waving Vietnamese flags.

Other fans choose to wave the flags from cars.

Other fans choose to wave the flags from cars.

In Dong Nai Province in southern Vietnam, the streets are also wide awake with cheers.

In Dong Nai Province in southern Vietnam, the streets are also wide awake with cheers.

Association football is the most widely loved sport in Vietnam. However, the national teams’ poor performances in recent years have left many fans frustrated and disappointed.

 

 

20 Jan

Top fintech stories this week – 19 January 2018

Wells Fargo to scrap 800 more bank branches by 2020
Will bankers’ bonuses be affected?

Standard Chartered creates fintech investment unit
Will be led by Alex Manson, most recently the bank’s global head of transaction banking.

TCS drools over two delicious insurtech deals for $2.7bn
With M&G Prudential and Transamerica.

Nationwide wide of the mark for UK open banking launch
Well, it is the UK… where most things are late most of the time.

Fintech Lab launches insurtech accelerator in Moscow
Nine projects selected for the 12-week programme.

18 Jan

HSBC further expands cash access network in Singapore

HSBC Partners 7-Eleven to Expand Cash Access Network to 800 Touchpoints Island-wide

HSBC Singapore has announced its partnership with 7-Eleven to offer HSBC customers access to more than 300 of its stores for QuickCash withdrawals. HSBC’s partnership with 7-Eleven will expand its total cash access network by 30% to over cash 800 touchpoints island-wide.

This partnership with 7-Eleven further complements and expands HSBC’s existing fleet of ATMs including those from the ATM5 network and QuickCash participating outlets including Cold Storage, Guardian Health and Beauty and Market Place in Singapore.

Mr. Matthias Dekan, Head of Customer Value Management, HSBC Bank (Singapore) said: “Despite the push for digital payments and electronic fund transfers, cash access remains important for Singaporeans. Partnerships like this one with 7-Eleven, and other retail outlets, means cash access is available within minutes’ walk from wherever you are in Singapore.”

Credit: Hubbis.

 

18 Jan

Facebook, BlackRock, and the Case for Purpose-Driven Companies

Last week, Facebook CEO Mark Zuckerberg announced that his platform needs to change. Community feedback has shown that public content has been “crowding out the personal moments that lead us to connect more with each other,” according to Zuckerberg. As a result, the company says it will be focusing more on promoting posts from friends rather than from media outlets, thereby leading to more-meaningful social interactions.

While the long-term consequences for users, journalists, media, friendships, Facebook itself, and the future of democracy (see: fake news) are uncertain and hard to judge, there are some lessons we can draw from the announcement.

Corporate Purpose Requires a Credible Commitment

There is a lot of talk about purpose in business. Purpose-driven companies have been shown to outperform their peers over the long term. They can reap benefits because of higher employee productivity and customer loyalty and satisfaction. But purpose-driven companies are also hard to come by. Why is that? Because purpose is costly. At the very least, it requires a credible commitment to that purpose. And credible commitments are those that come at a cost; in the absence of a cost, all companies can claim that they are purpose-driven, and as a result the commitment stops being credible.

The stock market reacted negatively to the announcement Friday, costing Facebook almost 5% of its market capitalization, or about $27 billion. It personally cost Zuckerberg more than $2 billion — hence the credible commitment to Facebook’s purpose to “develop the social infrastructure to give people the power to build a global community that works for all of us.” The fact that Facebook would undertake such a commitment knowing full well the costs is one more data point suggesting that Facebook could well turn out to be a purpose-driven company, and another lesson for business leaders that building purpose-driven organizations requires more than cheesy statements and “goodwashing” efforts.

Investors Are Paying Attention

The announcement came because of increasing pressure on Facebook to understand and manage its impact on society. Critics argue that the rise of fake news and propaganda on social media is threatening democracy. This is another indication that developments in society represent financially material events for a company’s performance, thereby raising the need for high-quality investor-relevant data that assesses a company’s efforts to mitigate negative impacts and increase its positive impact.

An increasing number of investors are therefore integrating environmental, social, and governance (ESG) data when they make investment decisions. Research has already shown that firms improving their performance in material ESG dimensions subsequently outperform their peers.

Short-termism

Zuckerberg announced that this is a move that could well have short-term financial costs but long-term benefits for the business. The former seems to have outweighed the latter in the market’s reaction to the announcement, with the stock declining 5% same day.

Many business leaders have talked about the phenomenon of short-termism, and research has documented that short-termism holds back good corporate intentions. But the idea that business leaders are at the mercy of a market obsessed with short-term results is dubious. In most cases, business leaders themselves are at fault by failing to properly communicating the long-term benefits of such actions, which, if done well, build trust in leadership. Promising long-term benefits is not enough. Time-bound targets based on metrics and a clear strategic plan could do the trick, though. Unfortunately, most business leaders still do not walk the talk when it comes to being long-term-oriented.

That may change as more investors signal their commitment to long-termism and corporate purpose. If Facebook was last week’s indication that corporate leaders care about more than short-term profits, this week’s comes from BlackRock chair and CEO Larry Fink, who on Tuesday sent a letter to the companies his firm invests in demanding that “every company must not only deliver financial performance, but also show how it makes a positive contribution to society.” In a recent article, I describe this role as a steward of the commons.

Mark Zuckerberg seems to agree, and seems willing to pay a price to demonstrate it.