Ms. Jean Stephens, General Director of RSM International and Mr. Jason Yau, Regional Leader for Asia and the Pacific, visited Vietnam at the end of February. Since the last visit of the General Director of RSM Global in 2012, along with the development of the country, RSM Vietnam has experienced incredible growth.
Like other economies around the world, Vietnam is also affected by instability and global trends. However, by the end of 2022, Vietnam's economy has still grown by 8.02%. This achievement far exceeded all previous forecasts of international economic organizations.
As both domestic and international businesses are looking to grow and expand in Vietnam, the demand for professional services is rapidly increasing to meet the constant change as well as the increasing complexity of regulations. With the constant enthusiasm to accompany and support businesses, RSM Vietnam has made strong development steps in recent years. Notably, the company's revenue increased by 21.98% to 196.67 billion VND in 2022, rising to the sixth position among the largest audit, tax and consulting service providers in Vietnam
Mr. Le Khanh Lam, Chairman of RSM Vietnam, commented: "The majority of businesses in Vietnam have weathered the Covid-19 storm and are now recovering from the difficulties brought by the pandemic. Most are seeing a strong recovery and pursuing long-term expansion plans. RSM Vietnam is excited to help our customers unlock growth opportunities."
With its business results, RSM Vietnam has contributed to the achievements of RSM Asia Pacific when it reached $1 billion in revenue for the first time as well as $8 billion in global revenue in 2022.
In 2022, RSM grew by 15% globally with growth from 10% across all regions. As one of the leading professional service providers in the world, RSM has seen global growth of 41.7% over the past three years, driven by the need to respond to constantly changing policies, address supply chain disruptions, and the pandemic's growing impact on business across all regions.
Jean Stephens, General Manager of RSM International, said: "The purpose of RSM is to convey confidence in an ever-changing world. RSM's rapid growth is the result of our expertise across 120 countries constantly supporting our clients to create new values, even in a changing and unpredictable environment. To continue our growth and strengthen our global leadership in business professional services, we will invest more in transforming our business into a digital organization with extensive knowledge, providing our customers with impressive services and solutions. We aim to ensure that we consistently create positive and lasting value for our people, customers and communities by giving them the confidence to solve problems in today's changing global economic landscape."
Looking ahead, RSM predicts that the demand for tax services will increase in 2023 due to efforts to meet the OECD's growing requirements for further digitization of tax reporting and global minimum tax rates, as well as the constantly complex and challenging tax system in Vietnam.
Similarly, RSM experts forecast that M&A activities in the world will still increase sharply. That's because tech companies will seek funding to scale; private investment firms with a significant amount of dry-powder assets; and the rise of rapid, multinational transactions.
In addition, businesses are expected to accelerate organizational change and prioritize innovation such as considering integrating artificial intelligence and automation technology, improving employee qualifications or leveraging data analytics and using outsourced business process solutions, to ensure and improve performance.
At the beginning of 2023, RSM launched its Global Strategy 2030 which sets out a long-term transformation and growth program with the goal of reaching 100% of revenue by 2030. Through the Strategy, RSM will increase the use of global digitization models and the application of automation, big data, machine learning and artificial intelligence more widely to help businesses overcome changes.
The strategy will unify member companies to follow common international methods and structures, thereby enabling RSM to continue to improve service quality and promote corporate social responsibility, constant adaptation and innovation. With a growing global customer base of growth-oriented, internationally visionary companies, RSM ensures customers always receive quality service, tailored solutions and insightful reviews by experienced professionals backed by technology.
"As a professional service provider, RSM Vietnam will always adapt and evolve to ensure the growth of the company and its customers in a rapidly changing world. By focusing on RSM's Global Strategy 2030, RSM Vietnam believes that the company can continue to accompany the success of its customers and stay ahead of changes in the business environment in Vietnam, which may be more complex and nuanced in the future." Mr. Le Khanh Lam said.
With the Strategy, RSM will also increase its investment in talent acquisition and help the global network with the unity of culture, governance and processes closely linked between member companies around the world to empower not only employees but also customers to achieve their goals.