DOING BUSINESS IN VIETNAM – BUSINESS RECORDS MANAGEMENT

Business Records Management

DOING BUSINESS IN VIETNAM – BUSINESS RECORDS MANAGEMENT

(Last Updated On: August 27, 2021)
Business Records Management

Business Records Management

Business records management is a mandatory requirement to manage and comply with the business’s compliance procedures required by the competent state agency as well as facilitate the effective and stable business administration.

We aim to ensure that our clients always achieve the best business compliance and control in accordance with local regulations. Our mission is ensuring that all our clients need to do is letting VIVA know their goals and review the final results, as the way we have successfully served thousands of clients since the early 2000s.

Read more: Preparing And Managing Business Records

WITH VIVA, MANAGING YOUR BUSINESS RECORDS WILL BE VERY SIMPLE

  1. VIVA creates a business records system in form of standard folders.
  2. VIVA knows how to transfer and guides you to collect and store the daily documents.
  3. Based on these documents, the parties coordinate to prepare and submit compliance reports to tax authorities, insurance agencies, banks and partners…
  4. You collect and store the compliance reports submitted to government agencies.
  5. VIVA coordinates in reviewing – evaluating – perfecting each type of document, and scans into e-files on the monthly, quarterly and yearly basis to save on computers.

THE COMPLIANCES ARE GUARANTEED BY VIVA

  1. The business records management system is organized and archived scientifically and professionally, and always ready for management purposes of the Board of Directors, competent state agencies, shareholders and related partners.
  2. Internal or independent audit procedures are supported. It is possible to quickly identify any deficiencies and in-compliances in reports and documents in both professional and managerial perspectives.
  3. It is easy to control and hand over in case of any change in person in charge. Information management and confidentiality are strengthened.
  4. VIVA is ultimately responsible for the completeness and reliability of the information system in each folder.
  5. VIVA assists you to design the goals and compliance solutions, provides expertised teams to execute and control the process, and takes responsibility for and deliver the clean and optimal final compliance status.

WHY SHOULD BUSINESS RECORDS MANAGEMENT BE PRIORITIZED

  1. The business records system is one of the most material and strategic assets; accordingly, it should be organized and managed timely, comprehensively for being taken advantage of and used as a supportive basis for management and decision-making.
  2. Not only supporting shareholders and banks, etc. in provision of internal information, but the business records system also plays an important role in integrating and inheriting knowledge through generations of person in charge, identifying, preventing and managing risks and inefficiencies.
  3. Business records are also mandatory compliance procedures according to requirements of the competent state agency.
  4. The organization and operation of the business records management system in an enterprise must conform to the organizational structure, operational processes and administrative requirements, comply with laws, ensure information confidentiality, and protect against abusive acts and conflicts of interest.
  5. An enterprise is an entity that operates independently and continuously for long-term; the business records management will not be dependent but actively require all individuals to perform the work in accordance with the predefined rules, thereby actively integrating and controlling all information and materials in any situations.

 PROFESSIONAL PROCESSES

  1. Preparing and rules and regulations on business records management.
    • Definitions of terms.
    • Rules.
    • Generate process.
    • Form and standard.
    • Rotation procedure.
    • Handover procedure.
    • Storage procedure.
    • Management procedure.
    • Procedures for storage and disposal.
    • Decentralization and security.
    • Roles and responsibilities of each involved department and individual throughout the operational process.
    • Code of conduct.
    • Forms for managing and applying for the rules and regulations.

This Regulation is not only a guide but also a basis which is binding upon the responsibilities and obligations of each involved employee, and is related to the labor rules, labor contracts and other internal regulations.

  1. Establishing the list of mandatory compliance business records for each department, legal requirements of each type of document.
  2. Establishing identification signs of documents based on systems, functional departments, management levels and types of documents.
  3. Establishing standards and criteria for a directory system to store hard copies on racks and e-copies on computers, and standards – specifications of archived documents.
  4. Setting up the procedures of repositories, storage bin and rack systems.

HOW TO OPERATE AND MAINTAIN

  1. To promulgate regulations on business records management and apply the related processes and forms.
  2. To train and support all individuals and departments in implementation and compliance, to create a continuous inheritance mechanism between generations of employees so that this regulation automatically operates continuously throughout the operational process.
  3. To conduct the regular and irregular evaluation to identify non-compliance and required correction actions.
  4. To periodically evaluate and improve regulations and processes accordingly but not hinder business activities, timely identify and overcome risks.
  5. To deploy the business records management software on computers and repositories.
  6. To amend and supplement the terms in labor contracts and corporate rules on compliance with the regulations on business records management.

 

WHO WE ARE

  • VIVA is a business consulting company, specializes in business compliance procedures according to local business laws and regulations since 2006. VIVA has been continuously trusted by thousands of well-known clients since 2006.
  • The insights and consistent backgrounds in Business Laws - Accounting and Corporate Finance - Tax Management – Labor Relations and Payroll - Secretarial services help us build trust and confidence in the entrepreneurs’ community.
  • We have been successfully providing service for thousands of leading companies from Hong Kong, Japan, US, EU, Singapore, India, China, Korea…. in forms of FDI companies, Foreign representative offices, Foreigner working in Vietnam, Vietnamese SMEs, Chief Operation Officers.
  • VIVA's logo is our Brand name, our signature, it states our faith - independence - transparence - and loyalty for client's interest. The signature is commitment and honor on our outstanding expertise and professionalism. It is the symbol of good standing for our clients whenever they are doing business with customers, partners, the local competent state agencies...

 

Chat with Consultants


 

Read more:

Manage The Financial Statements

Regime of Archived Accounting Documents and Financial Reports

Prepare The Compliance Cashbook Of Representative Office in Vietnam

Legal Documents Review & Completion Program For Business In Vietnam



error: Alert: Content is protected !!