Hot News: finbiz by ttb Dealing with business 'trends'
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finbiz by ttb Dealing
with business 'trends'

TTB finbiz connect the future for growth 'connecting' future business sustainable growth strategies, strengthening entrepreneurs in the food, beverage, and consumer product.

Ms. Sukanlaya Trisenajit, Executive Vice President, Head of SME Customer Relationship Management, TMB Thanachart, revealed that TTB recognizes the importance of creating a better financial life for SME entrepreneurs through 360-degree solutions designed specifically to meet the needs of each industry's supply chains. The focus is on supporting customers to transform their businesses to sustainability, as well as elevating financial transactions to digital, with ttb business one, a digital bank for the business world, as the main platform for connecting digital business solutions. Therefore, a seminar was organized under the finbiz by ttb project to enhance knowledge towards becoming a Smart SME to help entrepreneurs in the food, beverage, and consumer product businesses apply knowledge to their businesses and plan their finances effectively.

Ms. Parama Tipthanathap The director of the Future Concept Research Center, Baramizi Lab, delved into the future food business trends of 2025, which come from the expectations of modern consumers and future food consumption trends, covering 3 main issues: 1) Eating for health: Consumers choose to eat for good health, both physically and mentally, such as Medical Food in the form of nutritious jelly, which meets the needs of personalized nutrition. 2) Eating for experience: Consumers do not eat to live, but live to choose to eat, emphasizing access to new experiences, such as bubble milk tea topped with pork belly. 3) Eating for the world: Consumers consider how to eat to harm the world less, such as snacks produced with water-saving processes. He also recommended business strategies, such as developing products that complement holistic healthcare, telling stories that are local identities, and meeting consumer needs to create a better image. Products and services should also be designed to address sustainability, focus on the environment, or reusability. Including communicating to consumers that the organization or brand is aware and serious about sustainability.

Mr. Suranam Panichkarn, founder of Tofusan brand and CEO of Tofusan Co., Ltd., extracted lessons from the success of the business that started from size S over the past ten years until 2024, which is expected to surpass a billion baht in sales for the first year. There are secrets to running a business to grow sustainably through 4 important hearts: 1) Visionary, have faith and be clear with yourself about why you created this business, and create a company philosophy in simple words to communicate and visualize, such as Tofusan's philosophy is because everyone is an important person that we care about, and this philosophy will stay with the company forever. 2) Innovative, trying to compete in a competitive market and what consumers are looking for, such as Tofusan developing soy milk to solve the pain points of customers who want to buy soy milk for consumption 24 hours a day, with a taste like real soy milk and a longer shelf life than soy milk from a cart. 3) Cost Effective, seriously consider costs in order to compete in the market without being at a disadvantage. Finally, 4) Data Driven, back-end data is important. Collect every data that can be collected. It is not necessary to spend money on just buying data. Keeping a lot of data will help manage your business more easily.

Mr. Thanom Ket-em, a tax knowledge expert and owner of the TAXBugnoms page, recommends tax planning techniques to create a strong financial foundation. The focus must be on data to allocate for tax payment. The items that the Revenue Department is interested in whether a business pays taxes correctly are taxable income and prohibited expenses because these two items increase taxable profits. Appropriate tax savings are better planning and management of expenses that can be used to reduce corporate tax. Currently, the government is promoting the electronic tax system. If business owners invest in creating e-Tax Invoice and e-Withholding Tax systems during the period specified by law, they will be entitled to double expense deductions. All of this will help make business expenses more worth it.

Ms. Worawongnat Trongkongsin, Head of Domestic Financial Transaction Products, TMB Thanachart, said that cost management and business efficiency are important factors for business profits. Therefore, TTB has developed financial solutions that help reduce costs and increase operational efficiency. To meet the needs of SME entrepreneurs, whether it is ttb sme one bank, an account that helps save costs by making transactions through digital channels, ttb smart shop, a shop management assistant (Merchant Application), receiving payments via QR that immediately transfers money into the account, and comes with a new feature, Analytic Report, to help analyze sales and customer data in depth, in every dimension, without any costs, ttb quick pay, a service to create a link for receiving online payments, both via QR Code and credit card, with information on the Dashboard for entrepreneurs to check the payment status, ttb payroll plus, a service to transfer salary payments and take care of employee benefits in a complete cycle, including Automotive Solution, a complete solution for business cars. All of these solutions will help enhance the potential of SMEs, increase efficiency for businesses to grow sustainably. TTB is committed to being a trusted partner for SMEs and business customers, and to support customers to drive their businesses in every situation, overcome various challenges until they achieve success and grow sustainably.

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KBank unveils KBank Cashback Plus,
its first credit card in Vietnam

KASIKORNBANK (KBank) has announced the launch of KBank Cashback Plus, its first credit card to be offered in the Vietnamese market. The standout feature Auto Cashback allows cardholders to receive up to 10 percent cashback across all spending categories. Customers can also enjoy up to 15 percent cashback for transactions made in Thailand. Additionally, the card offers an interest-free installment plan for three months. The Bank expects the card to be well-received by Vietnamese customers.

Mr. Chat Laungarpa, KBank Executive Vice President, said that Vietnam has emerged as one of the fastest-growing credit card markets in recent years. The market is characterized by intensifying competition and a significant increase in the number of credit cards in circulation. However, Vietnamese credit card providers usually offer products with benefits tailored to only specific spending categories, prompting consumers to manage multiple cards for their daily needs. Additionally, he noted that existing automatic cashback programs often come with restrictive terms limited to specific categories, or offer low cashback rates.

As a result, KBank has used its expertise in credit card service to offer a more flexible alternative that can ease Vietnamese customers burden of managing multiple credit cards, with the launch of the KBank Cashback Plus credit card on April 25, 2024. The card has seen an overwhelming response from local customers, thanks to its outstanding features including automatic cashback of up to 10 percent covering all spending categories including travel, restaurants, supermarkets, shopping or e-commerce, health, beauty and entertainment. Additional benefits are provided for targeted groups, particularly travel buffs, who can earn up to 15 percent cashback or VND 1 million in a single billing cycle for transactions conducted in Thailand. The card also offers an interest-free installment payment for three months to help customers manage their finances without debt burdens.

The Bank has strategically placed the KBank Cashback Plus credit card to target young Vietnamese users on social networking platforms, as they represent the new generation who are more comfortable in the digital world and interested in financial innovations. Moreover, they tend to spend as a way of meeting their life goals. The card is expected to attract interest from additional groups in the future.

Mr. Chat added that apart from the various benefits offered to customers, this campaign also reflects KBank's vision for the future of Vietnam. Over the past few years, the global context has changed continuously and rapidly. Meanwhile, Vietnam has maintained steady development, driven by the younger generation of Vietnamese who are enthusiastic, agile, and goal-oriented. Therefore, the Bank sees supporting Vietnamese people in achieving their goals through simple and efficient financial solutions as a key strategy. The focus is to innovate and offer high-quality financial products that effectively meet users needs.

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