{"id":999979731,"date":"2026-01-14T11:46:47","date_gmt":"2026-01-14T04:46:47","guid":{"rendered":"https:\/\/bizzi.vn\/?p=999979731"},"modified":"2026-06-09T13:39:47","modified_gmt":"2026-06-09T06:39:47","slug":"what-is-goal-setting","status":"publish","type":"post","link":"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/","title":{"rendered":"What is goal setting and how to set goals for your business?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">You set your goals, but at the end of the month you still don&#039;t know where you&#039;ve gone off track. The problem is often not with SMART, but with goals not being aligned with the budget, real-world data, and mechanisms for monitoring before money leaves the company.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This article by Bizzi will help CFOs and the Finance-Accounting department understand the essence of goal setting, how to set goals that are truly meaningful, measurable, and achievable through processes and systems (Bizzi Expense, Bizzi Bot, Bizzi ARM).<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Index<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewbox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewbox=\"0 0 24 24\" version=\"1.2\" baseprofile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Thiet_lap_muc_tieu_la_gi_trong_doanh_nghiep_va_vi_sao_CFO_phai_%E2%80%9Cdat_dung_ngay_tu_dau%E2%80%9D\" >What is goal setting in a business, and why should CFOs &quot;set the right goals from the start&quot;?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Thiet_lap_muc_tieu_la_gi_trong_doanh_nghiep\" >What is goal setting in business?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Vi_sao_CFO_phai_tham_gia_va_%E2%80%9Cdat_dung_ngay_tu_dau%E2%80%9D\" >Why should the CFO be involved and &quot;get it right from the start&quot;?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Muc_tieu_khac_gi_muc_dich_KPI_va_OKR_trong_he_thong_quan_tri_hieu_suat\" >How do goals differ from objectives, KPIs, and OKRs in a performance management system?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Lay_baseline_the_nao_de_muc_tieu_khong_vien_vong\" >How do you set a baseline so that your goals aren&#039;t unrealistic?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#1_Baseline_la_gi\" >1. What is a baseline?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#2_CFO_phai_chot_baseline_o_dau\" >2. Where should the CFO set the baseline?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#3_Baseline_theo_4_nhom_trong_yeu_cua_CFO\" >3. Baseline based on the four key groups of CFOs<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#31_Baseline_Cost_Chi_phi\" >3.1. Baseline Cost<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#32_Baseline_Invoice_Hoa_don\" >3.2. Baseline Invoice<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#33_Baseline_AR_AP_Cong_no\" >3.3. Baseline AR \/ AP (Accounts Payable\/Debt)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#34_Baseline_Cash_Dong_tien\" >3.4. Baseline Cash<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#SMART_van_can_nhung_phai_viet_SMART_kieu_CFO_de_do_duoc_bang_so_khi_thiet_lap_muc_tieu\" >SMART is still necessary, but it needs to be written in a CFO-style way so that it can be measured numerically when setting goals.<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Cach_viet_muc_tieu_SMART_ma_khong_roi_vao_%E2%80%9Cloi_mon_S-M-A-R-T%E2%80%9D\" >How to write SMART goals without falling into the &quot;SMART trap&quot;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#S_%E2%80%93_Specific_Cu_the\" >S \u2013 Specific<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#M_%E2%80%93_Measurable_Do_duoc\" >M \u2013 Measurable<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#A_%E2%80%93_Achievable_Kha_thi\" >A \u2013 Achievable<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#R_%E2%80%93_Relevant_Lien_quan_chien_luoc\" >R \u2013 Relevant (Strategically relevant)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#T_%E2%80%93_Time-bound_Co_thoi_han\" >T \u2013 Time-bound<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Muc_tieu_lien_ket_ngan_sach_Budget_nhu_the_nao_de_khong_%E2%80%9Cdat_xong_roi_de_do%E2%80%9D\" >How can we ensure that budget targets are set and not simply left unfulfilled?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Vi_sao_muc_tieu_chi_phi_sai_lam_lech_dong_tien_that\" >Why do incorrect cost targets distort real cash flow?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Lien_ket_muc_tieu_%E2%80%93_ngan_sach_de_khong_%E2%80%9Cdat_xong_roi_de_do%E2%80%9D\" >Link goals and budgets to avoid &quot;setting goals and then leaving them unfulfilled.&quot;<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#31_Gan_moi_muc_tieu_chi_phi_voi_1_ngan_sach_cu_the\" >3.1. Assign each cost objective to a specific budget.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#32_Muc_tieu_chi_phi_phai_co_baseline\" >3.2. Cost targets must have a baseline.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#33_Bien_muc_tieu_thanh_rule_kiem_soat_ngan_sach\" >3.3. Turn goals into budget control rules.<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Cach_thiet_lap_muc_tieu_la_gi_de_tuan_thu_thue_va_giam_rui_ro_hoa_don_theo_chuan_van_hanh\" >What are the ways to set goals for tax compliance and reduce invoice risk according to operational standards?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Muc_tieu_%E2%80%9Cgiam_rui_ro_hoa_don%E2%80%9D_nen_do_bang_chi_so_nao\" >What metrics should be used to measure the goal of \u201creducing invoice risk\u201d?<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Exception_Rate_%E2%80%93_Ty_le_hoa_don_phat_sinh_ngoai_le\" >Exception Rate \u2013 The percentage of invoices that generate exceptions.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#3-way_Mismatch_Rate_%E2%80%93_Ty_le_sai_lech_PO%E2%80%93GR%E2%80%93Invoice\" >3-way Mismatch Rate \u2013 The rate of discrepancies between PO\u2013GR\u2013Invoice<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Vendor_Risk_Rate_%E2%80%93_Ty_le_NCC_rui_ro_cao\" >Vendor Risk Rate \u2013 High-risk vendor rate<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Invoice_Processing_Cycle_Time_%E2%80%93_Thoi_gian_xu_ly_hoa_don\" >Invoice Processing Cycle Time \u2013 Invoice Processing Time<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Cach_thiet_lap_muc_tieu_DSO_va_dong_tien_de_toi_uu_von_luu_dong_ma_khong_%E2%80%9Cmat_long%E2%80%9D_khach_hang\" >How to set DSO and cash flow targets to optimize working capital without alienating customers.<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-33\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#DSO_la_gi_va_tai_sao_la_muc_tieu_%E2%80%9Cdang_tien%E2%80%9D_nhat_cua_CFO\" >What is DSO and why is it the most &quot;worthwhile&quot; target for a CFO?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-34\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Vi_sao_DSO_la_muc_tieu_%E2%80%9Cdang_tien%E2%80%9D_nhat_cua_CFO\" >Why is DSO the most &quot;worthwhile&quot; target for CFOs?<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-35\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#DSO_tac_dong_truc_tiep_den_Cash_Flow_khong_qua_%E2%80%9Cdien_giai%E2%80%9D\" >DSO directly impacts Cash Flow, without any &quot;interpretation&quot;.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-36\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#DSO_thap_giam_chi_phi_von_phu_thuoc_vay_ngan_han\" >Low DSO = reduced cost of capital and reliance on short-term debt.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-37\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#DSO_la_%E2%80%9Cchat_luong_doanh_thu%E2%80%9D_khong_phai_doanh_thu_ao\" >DSO stands for &quot;revenue quality,&quot; not fictitious revenue.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-38\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#DSO_phan_anh_ky_luat_toan_bo_chuoi_van_hanh\" >DSO reflects discipline throughout the entire operational chain.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-39\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#DSO_la_muc_tieu_do_duoc_%E2%80%93_can_thiep_duoc_%E2%80%93_cai_thien_duoc\" >DSO is a measurable, interventionable, and improveable goal.<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-40\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Cach_phan_ra_muc_tieu_tu_CEO_xuong_CFO_va_phong_ban_de_khong_%E2%80%9Cmoi_nguoi_mot_KPI%E2%80%9D\" >How to break down goals from CEO down to CFO and departments to avoid having &quot;everyone with their own KPIs&quot;.<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-41\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#_Van_de_cot_loi_vi_sao_%E2%80%9Cmoi_nguoi_mot_KPI%E2%80%9D_luon_xay_ra\" >\u00a0The core issue: why does the &quot;everyone has their own KPI&quot; situation always occur?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-42\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Cascade_muc_tieu_tu_muc_tieu_chien_luoc_den_KPI_van_hanh_theo_chuoi_nhan_qua\" >Cascade of Goals: From Strategic Objectives to Operational KPIs Following a Cause-and-Effect Chain<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-43\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Buoc_1_CEO_dat_muc_tieu_cap_cong_ty_Outcome\" >Step 1. The CEO sets company-level goals (Outcome).<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-44\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Buoc_2_CFO_chuyen_Outcome_thanh_%E2%80%9Cdon_bay_tai_chinh%E2%80%9D\" >Step 2. The CFO converts Outcome into \u201cfinancial leverage\u201d.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-45\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Buoc_3_Phan_ra_xuong_phong_ban_theo_%E2%80%9Cvai_tro_tac_dong%E2%80%9D\" >Step 3. Break down the structure into departments based on &quot;role and impact&quot;.<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-46\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Theo_doi_Target_vs_Actual_va_phan_tich_lech_muc_tieu_variance_de_sua_dung_cho\" >Monitor Target vs Actual and analyze the variance to make necessary corrections.<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-47\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Target_vs_Actual_nen_review_theo_nhip_nao_de_phat_hien_lech_som\" >What pace should we follow when reviewing Target vs. Actual to detect discrepancies early?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-48\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Khi_nao_can_dieu_chinh_muc_tieu_giua_ky_reforecast_va_dieu_chinh_theo_du_lieu_gi\" >When should we adjust our interim targets (reforecast) and based on what data?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-49\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Dieu_chinh_muc_tieu_khac_%E2%80%9Cnoi_KPI%E2%80%9D_o_diem_nao\" >How does adjusting targets differ from &quot;loosening KPIs&quot;?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-50\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Cach_thiet_lap_muc_tieu_chuyen_doi_so_Finance_Ops_Do_hieu_qua_va_ROI_the_nao_cho_dung\" >How to set digital transformation goals in Finance Ops: How to properly measure effectiveness and ROI?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-51\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Muc_tieu_%E2%80%9Cgiam_gio_thu_cong%E2%80%9D_can_do_bang_chi_so_nao_va_tinh_ROI_ra_sao\" >What metrics should be used to measure the goal of &quot;reducing manual labor time,&quot; and how should the ROI be calculated?<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-52\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Chi_so_cot_loi_Manual_Processing_Hours_MPH\" >Key metric: Manual Processing Hours (MPH)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-53\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Chi_so_bo_tro_de_khong_bi_%E2%80%9Cao%E2%80%9D\" >Supplementary indicators (to avoid being &quot;unrealistic&quot;)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-54\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Tinh_ROI_chuyen_doi_so_Finance_Ops_nhu_the_nao_cho_dung\" >How to properly calculate the ROI of digital transformation in Finance Ops?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-55\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Vi_du_tong_hop\" >Comprehensive example<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-56\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Bang_so_sanh_nhanh_va_checklist_trien_khai_de_team_khong_lam_sai_ngay_tu_tuan_dau_ve_thiet_lap_muc_tieu_la_gi\" >What are some quick comparison charts and implementation checklists to help the team avoid making mistakes in goal setting right from the first week?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-57\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#FAQ_ve_cach_thiet_lap_muc_tieu_cho_CFO_va_phong_Tai_chinh_%E2%80%93_Ke_toan\" >FAQ on how to set goals for the CFO and the Finance and Accounting department.<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-58\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Thiet_lap_muc_tieu_la_gi\" >What is goal setting?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-59\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Muc_tieu_va_muc_dich_khac_nhau_the_nao\" >What is the difference between goals and objectives?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-60\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#KPI_nao_quan_trong_nhat_de_danh_gia_kiem_soat_chi_phi_tu_dong\" >Which KPIs are most important for evaluating automated cost control?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-61\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Lam_sao_gan_muc_tieu_ngan_sach_vao_quy_trinh_phe_duyet_chi_tieu\" >How can we link budget targets to the spending approval process?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-62\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Lam_sao_thiet_lap_muc_tieu_tuan_thu_thue_lien_quan_hoa_don\" >How do I set tax compliance goals related to invoices?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-63\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#DSO_la_gi_va_dat_muc_tieu_DSO_the_nao_de_khong_mat_khach\" >What is DSO and how do you set DSO targets without losing customers?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-64\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Muc_tieu_%E2%80%9Cdong_tien_duong%E2%80%9D_nen_bat_dau_tu_dau\" >Where should the goal of achieving &quot;positive cash flow&quot; begin?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-65\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Khi_nao_nen_reforecast_muc_tieu\" >When should you refresh your target?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-66\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Tinh_ROI_cua_muc_tieu_tu_dong_hoa_ke_toan_the_nao\" >How do you calculate the ROI of accounting automation goals?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-67\" href=\"https:\/\/bizzi.vn\/en\/what-is-goal-setting\/#Ket_luan\" >Conclude<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Thiet_lap_muc_tieu_la_gi_trong_doanh_nghiep_va_vi_sao_CFO_phai_%E2%80%9Cdat_dung_ngay_tu_dau%E2%80%9D\"><\/span><b>What is goal setting in a business, and why should CFOs &quot;set the right goals from the start&quot;?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Setting goals is the process of defining the desired outcomes, measurable by specific indicators, with a deadline and accountability. For businesses, goals are only &quot;right&quot; when they are linked to resources (budget), measurable data (actual), and a monitoring mechanism to detect deviations early.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Thiet_lap_muc_tieu_la_gi_trong_doanh_nghiep\"><\/span>What is goal setting in business?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Setting goals is a process:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Identify what the business wants to achieve.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Within a specified period<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">And who is held accountable, according to specific metrics?<\/li>\n<\/ul>\n<p>In modern business, the goal is not just to &quot;motivate,&quot; but to:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Resource allocation<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Coordinate actions between departments.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Risk control<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">And make the right financial decisions at the right time.<\/li>\n<\/ul>\n<p>Goals are the &quot;operating compass&quot; of a business.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Vi_sao_CFO_phai_tham_gia_va_%E2%80%9Cdat_dung_ngay_tu_dau%E2%80%9D\"><\/span><b>Why should the CFO be involved and &quot;get it right from the start&quot;?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Setting the right goals from the start won&#039;t make your business grow faster, but it will prevent it from going down the wrong path. Incorrect goals from the beginning equal inaccurate measurement throughout the entire period.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regardless of:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Expanding the market<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue growth<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Optimize operations<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Let&#039;s embrace digital transformation.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">\u00a0<\/span><b>They all have an impact:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Expense<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cash flow<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Profit<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Financial risk<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If the goal is set as follows:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cash flow is not taken into account.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No budget included.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Financial performance cannot be measured.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Business <\/span><b>It might be the &quot;right strategy,&quot; but there&#039;s still not enough money to live on.<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the target is wrong:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">KPIs look good, but the cash flow is bad.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The department met its targets, but the company lost money.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Risks accumulate and are only discovered at the end of the period.<\/span><\/li>\n<\/ul>\n<p><b>The CFO is the one who suffers the consequences, even though they didn&#039;t directly set the goals.<\/b><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Good goal<\/b><\/td>\n<td><b>Poor target<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Connect cash flow<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Revenue-only<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">There is a baseline<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Target only<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">There is a data source.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">It has to be assembled manually.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">There is a warning threshold.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Wait until the end of the term.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">By understanding what goal setting entails, CFOs ensure that their goals are &quot;measurable, controllable, and actionable.&quot;<\/span><\/p>\n<figure id=\"attachment_999979732\" aria-describedby=\"caption-attachment-999979732\" style=\"width: 640px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-999979732 size-full\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/thiet-lap-muc-tieu-la-gi-1.jpeg\" alt=\"\" width=\"640\" height=\"434\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/thiet-lap-muc-tieu-la-gi-1.jpeg 640w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/thiet-lap-muc-tieu-la-gi-1-300x203.jpeg 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/thiet-lap-muc-tieu-la-gi-1-18x12.jpeg 18w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><figcaption id=\"caption-attachment-999979732\" class=\"wp-caption-text\">Setting the right goals from the start won&#039;t make your business grow faster, but it will prevent it from going down the wrong path. Incorrect goals from the beginning equal inaccurate measurement throughout the entire period.<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Muc_tieu_khac_gi_muc_dich_KPI_va_OKR_trong_he_thong_quan_tri_hieu_suat\"><\/span><b>How do goals differ from objectives, KPIs, and OKRs in a performance management system?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A goal is a destination. KPIs are metrics to measure progress and determine whether you&#039;re moving toward your goal or deviating from it. OKRs are a framework for achieving goals through key results. Purposes are typically directional, while goals must be measurable and have deadlines.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Below is a comparison table of the four concepts above.\u00a0<\/span><\/p>\n<table style=\"width: 69.0076%;\">\n<tbody>\n<tr>\n<td style=\"width: 10.473%;\"><b>Concept<\/b><\/td>\n<td style=\"width: 18.9026%;\"><b>What is it used for?<\/b><\/td>\n<td style=\"width: 17.1335%;\"><b>Nature<\/b><\/td>\n<td style=\"width: 19.2692%;\"><b>Measurement<\/b><\/td>\n<td style=\"width: 15.8128%;\"><b>Time<\/b><\/td>\n<td style=\"width: 29.9648%;\"><b>Short example<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 10.473%;\"><b>Site<\/b><\/td>\n<td style=\"width: 18.9026%;\"><span style=\"font-weight: 400;\">Identify the destination<\/span><\/td>\n<td style=\"width: 17.1335%;\"><span style=\"font-weight: 400;\">Desired outcome<\/span><\/td>\n<td style=\"width: 19.2692%;\"><span style=\"font-weight: 400;\">It can be measured.<\/span><\/td>\n<td style=\"width: 15.8128%;\"><span style=\"font-weight: 400;\">Medium- to long term<\/span><\/td>\n<td style=\"width: 29.9648%;\"><span style=\"font-weight: 400;\">Cash flow control<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 10.473%;\"><b>Objective<\/b><\/td>\n<td style=\"width: 18.9026%;\"><span style=\"font-weight: 400;\">Specify the Goal<\/span><\/td>\n<td style=\"width: 17.1335%;\"><span style=\"font-weight: 400;\">Priority results<\/span><\/td>\n<td style=\"width: 19.2692%;\"><span style=\"font-weight: 400;\">Measure at the result level<\/span><\/td>\n<td style=\"width: 15.8128%;\"><span style=\"font-weight: 400;\">Short- to medium term<\/span><\/td>\n<td style=\"width: 29.9648%;\"><span style=\"font-weight: 400;\">Reduce cash collection time.<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 10.473%;\"><b>KPI<\/b><\/td>\n<td style=\"width: 18.9026%;\"><span style=\"font-weight: 400;\">Monitoring operations<\/span><\/td>\n<td style=\"width: 17.1335%;\"><span style=\"font-weight: 400;\">Measurement index<\/span><\/td>\n<td style=\"width: 19.2692%;\"><span style=\"font-weight: 400;\">Continuous measurement<\/span><\/td>\n<td style=\"width: 15.8128%;\"><span style=\"font-weight: 400;\">Daily \/ Monthly<\/span><\/td>\n<td style=\"width: 29.9648%;\"><span style=\"font-weight: 400;\">DSO = 50 days<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 10.473%;\"><b>OKR<\/b><\/td>\n<td style=\"width: 18.9026%;\"><span style=\"font-weight: 400;\">Create a breakthrough<\/span><\/td>\n<td style=\"width: 17.1335%;\"><span style=\"font-weight: 400;\">Ambitious framework<\/span><\/td>\n<td style=\"width: 19.2692%;\"><span style=\"font-weight: 400;\">Measured via KR<\/span><\/td>\n<td style=\"width: 15.8128%;\"><span style=\"font-weight: 400;\">By quarter<\/span><\/td>\n<td style=\"width: 29.9648%;\"><span style=\"font-weight: 400;\">DSO decreased sharply in Q3.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">In short:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>KPI<\/b><span style=\"font-weight: 400;\">: run <\/span><b>continuous<\/b><span style=\"font-weight: 400;\">, implementing rewards and punishments<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>OKR<\/b><span style=\"font-weight: 400;\">: run <\/span><b>by quarter<\/b><span style=\"font-weight: 400;\">, without direct rewards<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Goal \/ Objective<\/b><span style=\"font-weight: 400;\">: plays a guiding role<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Lay_baseline_the_nao_de_muc_tieu_khong_vien_vong\"><\/span><b>How do you set a baseline so that your goals aren&#039;t unrealistic?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The baseline is the truth. The goal is to make controlled improvements from that truth. There is no right baseline \u2013 all goals are just expectations. Setting financial goals should always begin with \u201ccleaning up the data,\u201d not \u201cbeautifying the numbers.\u201d<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Baseline_la_gi\"><\/span><strong>1. What is a baseline?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Baseline<\/b><span style=\"font-weight: 400;\"> To be <\/span><b>database path<\/b><span style=\"font-weight: 400;\">, reflects <\/span><b>current situation<\/b><span style=\"font-weight: 400;\"> of the business <\/span><b>before setting goals<\/b><span style=\"font-weight: 400;\">Baseline <\/span><b>not the target<\/b><span style=\"font-weight: 400;\">No &quot;beautification&quot; allowed, no emotional adjustments.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Good goals = controlled improvement from the true baseline.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>A flawed baseline equals unrealistic goals from the design stage.<\/b><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"2_CFO_phai_chot_baseline_o_dau\"><\/span><strong>2. Where should the CFO set the baseline?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The baseline should not be taken from manually compiled reports, but from the original operating system.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><span style=\"font-weight: 400;\">Data group<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Required baseline source<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cost<\/span><\/td>\n<td><span style=\"font-weight: 400;\">ERP \u2013 GL module \/ Budget<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Invoice<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Electronic invoicing system<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">AR\/AP<\/span><\/td>\n<td><span style=\"font-weight: 400;\">ERP \u2013 Accounts Receivable Details<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Fight<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Bank statement \/ Cash module<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><span class=\"ez-toc-section\" id=\"3_Baseline_theo_4_nhom_trong_yeu_cua_CFO\"><\/span><strong>3. Baseline based on the four key groups of CFOs<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h4><span class=\"ez-toc-section\" id=\"31_Baseline_Cost_Chi_phi\"><\/span><span style=\"font-weight: 400;\">3.1. Baseline Cost<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><b>Baseline should be:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Actual cost according to the cost center<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Compared to the approved budget<\/span><\/li>\n<\/ul>\n<p><b>Suggested recipe:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Cost Variance=Actual Cost \u2013 Budgeted Cost<\/span><\/p>\n<p><b>Note to the CFO:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Do not include extraordinary expenses (one-off).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Separate operating costs from investment costs.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"32_Baseline_Invoice_Hoa_don\"><\/span><span style=\"font-weight: 400;\">3.2. Baseline Invoice<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><b>Baseline should be:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Total number of input invoices<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The invoice contains errors (incorrect tax code, incorrect tax, missing purchase order, etc.).<\/span><\/li>\n<\/ul>\n<p><b>Required formula:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Exception Rate = Number of Error Invoices \/ Total Number of Invoices<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is the baseline for:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">MBO invoice quality<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">MBO reduces tax risk.<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"33_Baseline_AR_AP_Cong_no\"><\/span><strong>3.3. Baseline AR \/ AP (Accounts Payable\/Debt)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><b>Baseline should be:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Detailed Aging Report<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Do not use the total.<\/span><\/li>\n<\/ul>\n<p><b>Baseline index:<\/b><\/p>\n<p data-start=\"221\" data-end=\"255\"><strong data-start=\"221\" data-end=\"253\">Days Sales Outstanding (DSO)<\/strong><\/p>\n<ul>\n<li><b><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-mathml\">DSO= (Accounts Receivable\/Credit Sales)\u00d7Days<\/span><\/span><\/span><\/b><\/li>\n<\/ul>\n<p data-start=\"324\" data-end=\"360\"><strong data-start=\"324\" data-end=\"358\">Days Payable Outstanding (DPO)<\/strong><\/p>\n<ul>\n<li><b><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-mathml\">DPO= (Accounts Payable\/COGS) xDays<\/span><\/span><\/span><br \/>\n<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The baseline must be analyzed as follows:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Customer\/Supplier Group<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Overdue bills<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"34_Baseline_Cash_Dong_tien\"><\/span><b>3.4. Baseline Cash<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Questions the CFO needs to answer:<\/b><\/p>\n<p><span style=\"font-weight: 400;\">&quot;How much money do businesses actually burn through each month?&quot;<\/span><\/p>\n<p><b>Baseline should be:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cash inflows and outflows<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Do not use accounting profit.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/li>\n<\/ul>\n<p><b>Suggested formula (run-rate):<\/b><\/p>\n<ul>\n<li><span class=\"base\"><span class=\"mord text\"><span class=\"mord\">Run-rate<\/span><\/span><span class=\"mrel\">=<\/span><\/span><span class=\"base\"><span class=\"mord\"><span class=\"mfrac\"><span class=\"vlist-t vlist-t2\"><span class=\"vlist-r\"><span class=\"vlist\"><span class=\"mord text\">Actual YTD\/Number of months elapsed<\/span><\/span><span class=\"vlist-s\">\u200b<\/span><\/span><\/span><\/span><\/span><\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Baseline Cash helps:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Set survival goals.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Avoid growth that leads to dead money.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"SMART_van_can_nhung_phai_viet_SMART_kieu_CFO_de_do_duoc_bang_so_khi_thiet_lap_muc_tieu\"><\/span><b>SMART is still necessary, but it needs to be written in a CFO-style way so that it can be measured numerically when setting goals.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">SMART isn&#039;t wrong. The mistake is writing SMART without attaching numbers, data, and control metrics. The CFO-style SMART is about goals that the system can measure itself \u2013 no need to ask anyone else.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Cach_viet_muc_tieu_SMART_ma_khong_roi_vao_%E2%80%9Cloi_mon_S-M-A-R-T%E2%80%9D\"><\/span><b>How to write SMART goals without falling into the &quot;SMART trap&quot;<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">SMART is only the minimum requirement for clear, measurable, and limited goals. For businesses, SMART needs two more things: measurable data (actual) and control mechanisms (guardrails). Without these two components, SMART will still fail when implemented.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"S_%E2%80%93_Specific_Cu_the\"><\/span><b>S \u2013 Specific<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">&quot;Reduce domestic customer&#039;s DSO (Demand for Sale)&quot;<\/span><\/p>\n<p><b>Rules: <\/b><span style=\"font-weight: 400;\">\u00a0Specific = <\/span><b>call the correct number<\/b><span style=\"font-weight: 400;\">, not called a concept.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"M_%E2%80%93_Measurable_Do_duoc\"><\/span><b>M \u2013 Measurable<\/b><b><\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><b><\/b><b><span class=\"katex-display\"><span class=\"katex\"><span class=\"katex-mathml\">DSO= (Accounts Receivable\/Credit Sales)\u00d7Days<\/span><\/span><\/span><\/b><\/p>\n<p><b>Rules:<\/b><span style=\"font-weight: 400;\"> Do not have <\/span><b>recipe<\/b><span style=\"font-weight: 400;\"> \u2192 Not a SMART CFO.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"A_%E2%80%93_Achievable_Kha_thi\"><\/span><b>A \u2013 Achievable<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Baseline: 60 days \u2013 Target Q1: 55 days \u2013 Target Q2: 50 days<\/span><\/p>\n<p><b>CFO Rules: <\/b><span style=\"font-weight: 400;\">Improve <\/span><b>10\u201320% per cycle<\/b><span style=\"font-weight: 400;\">, unless there is a structural change.<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"R_%E2%80%93_Relevant_Lien_quan_chien_luoc\"><\/span><b>R \u2013 Relevant (Strategically relevant)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><b>The CFO asked:<\/b> <i><span style=\"font-weight: 400;\">Does this objective directly affect money, risk, or profit?<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">&quot;Reduce reporting delays to adjust cash flow during the period.&quot;<\/span><\/p>\n<ul>\n<li aria-level=\"1\">\n<h3><span class=\"ez-toc-section\" id=\"T_%E2%80%93_Time-bound_Co_thoi_han\"><\/span><b>T \u2013 Time-bound<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p><b>The CFO asked:<\/b> <i><span style=\"font-weight: 400;\">When should the review be conducted so that adjustments can be made in time?<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">Weekly review, quarterly review<\/span><\/p>\n<p><b>Time-bound CFO style: <\/b><span style=\"font-weight: 400;\">\u00a0It&#039;s not just deadlines, but also... <\/span><b>Cadence review<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<figure id=\"attachment_999979735\" aria-describedby=\"caption-attachment-999979735\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-999979735 size-full\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/thiet-lap-muc-tieu-la-gi-2.jpg\" alt=\"What is goal setting? 2\" width=\"1024\" height=\"429\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/thiet-lap-muc-tieu-la-gi-2.jpg 1024w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/thiet-lap-muc-tieu-la-gi-2-300x126.jpg 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/thiet-lap-muc-tieu-la-gi-2-768x322.jpg 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/thiet-lap-muc-tieu-la-gi-2-18x8.jpg 18w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption id=\"caption-attachment-999979735\" class=\"wp-caption-text\">SMART isn&#039;t wrong. The mistake is writing SMART without attaching numbers, data, and control metrics. The CFO-style SMART is about goals that the system can measure itself \u2013 no need to ask anyone else.<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Muc_tieu_lien_ket_ngan_sach_Budget_nhu_the_nao_de_khong_%E2%80%9Cdat_xong_roi_de_do%E2%80%9D\"><\/span><b>How can we ensure that budget targets are set and not simply left unfulfilled?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In fact, many businesses:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Set goals at the beginning of the year.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Create a separate budget.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">And they operate as two parallel systems.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Consequences:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Target achieved<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">But spending exceeded the budget.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cash flow shortage<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The CFO has to &quot;put out the fire&quot;.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">For a CFO, a goal is only valuable when it &quot;locks in&quot; the budget.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Vi_sao_muc_tieu_chi_phi_sai_lam_lech_dong_tien_that\"><\/span><b>Why do incorrect cost targets distort real cash flow?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Expense targets determine the budget envelope and the amount of money leaving the business. If expense targets are set off-base or lack guardrails, overspending will eat into cash flow, causing cash and profit plans to deviate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Expenses are cash outflows, not just P&amp;L figures.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">P&amp;L can look beautiful thanks to its acrobatic design.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">But <\/span><b>The money is still leaving the account.<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">If the cost objective is &quot;Excluding payment intervals&quot; or &quot;Excluding payment timing&quot;, then <\/span><b>The cash forecast will be wrong from the start.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Incorrect cost targets \u2192 incorrect budget \u2192 incorrect cash plan<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Common chain of errors: High targets \u2192 overspending \u2192 excess expenditure \u2192 cash flow deficit \u2192 short-term borrowing \u2192 decreased profits<\/span><\/p>\n<p><span style=\"font-weight: 400;\">CFOs don&#039;t lose money on &quot;expenses,&quot; but on... <\/span><b>Cash flow is being eroded.<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Lien_ket_muc_tieu_%E2%80%93_ngan_sach_de_khong_%E2%80%9Cdat_xong_roi_de_do%E2%80%9D\"><\/span><b>Link goals and budgets to avoid &quot;setting goals and then leaving them unfulfilled.&quot;<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The goal is to lock up the budget \u2013 the budget must lock up the money \u2013 the money must be monitored in real time.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"31_Gan_moi_muc_tieu_chi_phi_voi_1_ngan_sach_cu_the\"><\/span><span style=\"font-weight: 400;\">3.1. Assign each cost objective to a specific budget.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Each cost objective must address:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What is the budget?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">For how long?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What rhythm does it follow?<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"32_Muc_tieu_chi_phi_phai_co_baseline\"><\/span><span style=\"font-weight: 400;\">3.2. Cost targets must have a baseline.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><b>Goals that don&#039;t come from a baseline equal unrealistic budgets.<\/b><\/p>\n<p><b>For example:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Baseline operating costs: 10 billion VND\/month<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Objective: Reduce 10%<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New budget envelope: 9 billion VND\/month<\/span><\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"33_Bien_muc_tieu_thanh_rule_kiem_soat_ngan_sach\"><\/span><span style=\"font-weight: 400;\">3.3. Turn goals into budget control rules.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">The goal is not just to &quot;meet the deadline,&quot; but to:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Block excess spending during the period.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Early warning<\/span><\/li>\n<\/ul>\n<table style=\"border-color: #000000;\" border=\"1\" cellspacing=\"1\">\n<tbody>\n<tr>\n<td><b>Target<\/b><\/td>\n<td><b>Control rule<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Cost variance \u2264 +2%<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Block POs from exceeding budget.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">No expenses outside of the plan.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Requires senior-level approval.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Keep OPEX \u2264 X% DT<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Real-time alerts<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">In short, setting the wrong goals not only distorts KPIs, but also distorts cash flow and actual profits. Even with good cost control, CFOs can still &quot;lose money&quot; if invoices are incorrect and tax risks increase. Next are goals related to invoice compliance and risk control.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cach_thiet_lap_muc_tieu_la_gi_de_tuan_thu_thue_va_giam_rui_ro_hoa_don_theo_chuan_van_hanh\"><\/span><b>What are the ways to set goals for tax compliance and reduce invoice risk according to operational standards?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><b>Tax compliance isn&#039;t about &quot;avoiding penalties,&quot; but about controlling invoice risks right from the moment they arise. <\/b><span style=\"font-weight: 400;\">Therefore, the goal <\/span><b>not measured by the number of traffic violation tickets.<\/b><span style=\"font-weight: 400;\">which is measured by <\/span><b>The deviation rate is blocked before payment.<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Below is how to set tax compliance goals and reduce invoice risk according to operational standards, written from a CFO&#039;s perspective \u2013 control before money leaves the business, along with a set of measurable and operational KPIs.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Muc_tieu_%E2%80%9Cgiam_rui_ro_hoa_don%E2%80%9D_nen_do_bang_chi_so_nao\"><\/span><b>What metrics should be used to measure the goal of \u201creducing invoice risk\u201d?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Invoice compliance targets should be measured by operational metrics such as the rate of incorrect invoices, the rate of failed reconciliations, processing time, and the number of risky suppliers. Meeting these targets correctly will reduce tax risk and decrease manual processing time.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Exception_Rate_%E2%80%93_Ty_le_hoa_don_phat_sinh_ngoai_le\"><\/span><span style=\"font-weight: 400;\">Exception Rate \u2013 The percentage of invoices that generate exceptions.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">The percentage of invoices flagged as risky by the system or accounting department (incorrect, missing information, exceeding thresholds).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Exception Rate = Exception Rate = Number of invoices with exceptions \/ Total number of invoices received<\/span><\/p>\n<p><b>Management significance<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Measure <\/span><b>invoice input quality<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Early warning of tax and expense risks<\/span><\/li>\n<\/ul>\n<p><b>Operating standards<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The business is operating well: <\/span><b>\u2264 5%<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">On 10%: there is a problem with the input process.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">High exception rate = <\/span><b>Budget and cash flow are under threat.<\/b><span style=\"font-weight: 400;\">It&#039;s not just an accounting error.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"3-way_Mismatch_Rate_%E2%80%93_Ty_le_sai_lech_PO%E2%80%93GR%E2%80%93Invoice\"><\/span><span style=\"font-weight: 400;\">3-way Mismatch Rate \u2013 The rate of discrepancies between PO\u2013GR\u2013Invoice<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">The percentage of mismatched invoices between:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Purchase Order (PO)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Goods\/Service Receipt (GR)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Bill<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Mismatch Rate = Number of invoices without 3-way matcha \/ Total number of invoices with purchase orders.<\/span><\/p>\n<p><b>Common types of bias<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Incorrect unit price<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Quantity error<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Incorrect tax rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Incorrect payment terms<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">NCC issued incorrect legal information.<\/span><\/li>\n<\/ul>\n<p><b>CFO objectives<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Standard: <\/span><b>\u2264 2\u20133%<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">5%: Risk of incorrect payment and tax arrears<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This is <\/span><b>Incorrect blocking index before payment<\/b><span style=\"font-weight: 400;\">, not just a formal KPI.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Vendor_Risk_Rate_%E2%80%93_Ty_le_NCC_rui_ro_cao\"><\/span><span style=\"font-weight: 400;\">Vendor Risk Rate \u2013 High-risk vendor rate<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">The percentage of invoices coming from:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">NCC is on the list of tax risks.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">New NCC, not yet audited.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">NCC has a history of misconduct.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Vendor Risk Rate = Number of invoices from risky supplier \/ Total number of invoices<\/span><\/p>\n<p><b>Meaning<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Measure <\/span><b>supplier ecosystem risks<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Poor control leads to the risk of fraudulent or invalid invoices.<\/span><\/li>\n<\/ul>\n<p><b>Recommended CFO threshold<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u2264 5%: good control<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">10%: The vendor onboarding process needs to be tightened.<\/span><\/li>\n<\/ul>\n<p><b>The tax arrears were not due to accounting errors, but because the wrong supplier was chosen.<\/b><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Invoice_Processing_Cycle_Time_%E2%80%93_Thoi_gian_xu_ly_hoa_don\"><\/span><span style=\"font-weight: 400;\">Invoice Processing Cycle Time \u2013 Invoice Processing Time<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><b>This is <\/b><span style=\"font-weight: 400;\">\u00a0Time from receiving the invoice to being ready to pay.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cycle Time = Payment Date \u2013 Invoice Date<\/span><\/p>\n<p><b>Why is compliance relevant?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Slow processing \u2192 urgent payment \u2192 bypassing controls<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Quick payment = <\/span><b>Paying for an unsecured bill carries significant risk.<\/b><\/li>\n<\/ul>\n<p><b>Operational objectives<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Standard: <\/span><b>\u2264 3\u20135 business days<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">7 days: risk of skipping the control step<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A long cycle time doesn&#039;t make a business safer \u2013 it only accumulates risk.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cach_thiet_lap_muc_tieu_DSO_va_dong_tien_de_toi_uu_von_luu_dong_ma_khong_%E2%80%9Cmat_long%E2%80%9D_khach_hang\"><\/span><b>How to set DSO and cash flow targets to optimize working capital without alienating customers.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">DSO is the average number of days to collect payment after a sale. An increase in DSO means capital is tied up, and cash flow is strained even with good sales. Setting the right DSO target helps free up working capital and increase reinvestment capacity.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"DSO_la_gi_va_tai_sao_la_muc_tieu_%E2%80%9Cdang_tien%E2%80%9D_nhat_cua_CFO\"><\/span><b>What is DSO and why is it the most &quot;worthwhile&quot; target for a CFO?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Standard formula:<\/b><\/p>\n<p>DSO = (Account Receivable \/ Credit Sales) * Number of Days<\/p>\n<p><b>Simply put<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Today&#039;s sales<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lost <\/span><b>how many days<\/b><span style=\"font-weight: 400;\"> Then the money will be credited to the account.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Vi_sao_DSO_la_muc_tieu_%E2%80%9Cdang_tien%E2%80%9D_nhat_cua_CFO\"><\/span><b>Why is DSO the most &quot;worthwhile&quot; target for CFOs?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">DSO (Days Sales Outstanding) is the average number of days a business needs to collect payment after recognizing sales on credit. For CFOs, DSO is not just an accounting indicator \u2013 it&#039;s a direct leverage point for real cash flow.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"DSO_tac_dong_truc_tiep_den_Cash_Flow_khong_qua_%E2%80%9Cdien_giai%E2%80%9D\"><\/span><span style=\"font-weight: 400;\">DSO directly impacts Cash Flow, without any &quot;interpretation&quot;.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduced DSO = earlier payment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No need:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Increase revenue<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Cost reduction<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Change the product<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h4><span class=\"ez-toc-section\" id=\"DSO_thap_giam_chi_phi_von_phu_thuoc_vay_ngan_han\"><\/span><span style=\"font-weight: 400;\">Low DSO = reduced cost of capital and reliance on short-term debt.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">High DSO \u2192 CFO must:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Use overdraft<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Short term loan<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Extend DPO to compensate.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Low DSO \u2192 business:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Self-financing of working capital<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduce interest expenses.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Low liquidity risk<\/span><\/li>\n<\/ul>\n<p><b>Reducing the Daily Output (DSO) by 1 day \u2248 saves interest costs for the entire system.<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"DSO_la_%E2%80%9Cchat_luong_doanh_thu%E2%80%9D_khong_phai_doanh_thu_ao\"><\/span><span style=\"font-weight: 400;\">DSO stands for &quot;revenue quality,&quot; not fictitious revenue.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Revenue looks good, but:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Late payment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Outstanding debts<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Difficult to collect<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">\u2192 <\/span><b>P&amp;L looks good, Cash looks bad.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">DSO helps CFOs answer the crucial question: &quot;How much of this % revenue actually translates into cash?&quot;<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"DSO_phan_anh_ky_luat_toan_bo_chuoi_van_hanh\"><\/span><b>DSO reflects discipline throughout the entire operational chain.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">DSO is not solely the fault of the accounts payable accountant. It reflects:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Sales: Are the payment terms too lenient?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Legal: Is the contract legally binding?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Finance: Can you issue the invoice in time?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">AR: Is debt tracking and reminders effective and disciplined?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">DSO is <\/span><b>Cross-departmental KPIs<\/b><span style=\"font-weight: 400;\">The CFO has the authority to &quot;take the lead&quot;.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"DSO_la_muc_tieu_do_duoc_%E2%80%93_can_thiep_duoc_%E2%80%93_cai_thien_duoc\"><\/span><b>DSO is a measurable, interventionable, and improveable goal.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Unlike:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Profit (distorted by accounting)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">EBITDA (not cash)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Growth (capital-intensive)<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">DSO:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">There is a clear baseline.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Track by day\/week<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Improve through processes and data.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This is the goal. <\/span><b>The CFO has control.<\/b><span style=\"font-weight: 400;\">, independent of the market.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cach_phan_ra_muc_tieu_tu_CEO_xuong_CFO_va_phong_ban_de_khong_%E2%80%9Cmoi_nguoi_mot_KPI%E2%80%9D\"><\/span><b>How to break down goals from CEO down to CFO and departments to avoid having &quot;everyone with their own KPIs&quot;.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">This is <\/span><b>The method of breaking down objectives from CEO \u2192 CFO \u2192 department.<\/b><span style=\"font-weight: 400;\"> According to modern management thinking, in order to <\/span><b>Avoid a situation where &quot;everyone has their own KPI, and everyone works independently.&quot;<\/b><span style=\"font-weight: 400;\"> \u2013 A very common mistake when implementing MBO\/KPI\/OKR in businesses.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"_Van_de_cot_loi_vi_sao_%E2%80%9Cmoi_nguoi_mot_KPI%E2%80%9D_luon_xay_ra\"><\/span><strong>\u00a0The core issue: why does the &quot;everyone has their own KPI&quot; situation always occur?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">It&#039;s not the employee&#039;s fault, but the fault of... <\/span><b>The wrong way to break down the target from the start.<\/b><span style=\"font-weight: 400;\">:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">CEO placed <\/span><b>strategic objectives<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">CFO transformed into <\/span><b>Finance Department targets<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Other departments are running. <\/span><b>Local KPIs<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Result:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Increased sales lead to increased revenue \u2192 Increased DSO (Demand for Sales)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Finance tightens costs \u2192 operations slow down.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Procurement pulls DPO \u2192 NCC reaction<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Cascade_muc_tieu_tu_muc_tieu_chien_luoc_den_KPI_van_hanh_theo_chuoi_nhan_qua\"><\/span><b>Cascade of Goals: From Strategic Objectives to Operational KPIs Following a Cause-and-Effect Chain<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Proper goal breakdown involves transforming strategic goals into functional goals, and then into operational KPIs that can be measured weekly\/monthly. Each KPI must have a cause-and-effect relationship with the higher-level goals, avoiding &quot;measuring for fun.&quot;<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Buoc_1_CEO_dat_muc_tieu_cap_cong_ty_Outcome\"><\/span><strong>Step 1. The CEO sets company-level goals (Outcome).<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">CEO example: \u201cImprove net cash flow from operating activities by +30% over 12 months.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is <\/span><b>Outcome<\/b><span style=\"font-weight: 400;\">, not yet departmental KPI.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Buoc_2_CFO_chuyen_Outcome_thanh_%E2%80%9Cdon_bay_tai_chinh%E2%80%9D\"><\/span><strong>Step 2. The CFO converts Outcome into \u201cfinancial leverage\u201d.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">CFO analysis:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cash flow = Cash In \u2013 Cash Out<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The greatest leverage: <\/span><b>DSO, DPO, Costs, Inventory<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">CFO&#039;s choice <\/span><b>3\u20134 main levers<\/b><span style=\"font-weight: 400;\">, For example:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduce DSO<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cost Control<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduce invoice risk.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Optimize DPO (controlled)<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This is <\/span><b>CFO promotion goal<\/b><span style=\"font-weight: 400;\">, not individual KPIs.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Buoc_3_Phan_ra_xuong_phong_ban_theo_%E2%80%9Cvai_tro_tac_dong%E2%80%9D\"><\/span><strong>Step 3. Break down the structure into departments based on &quot;role and impact&quot;.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Don&#039;t divide KPIs evenly \u2013 divide them accordingly. <\/span><b>point of contact with the original target<\/b><\/p>\n<p><span style=\"font-weight: 400;\">In short, target breakdown isn&#039;t about breaking down targets into smaller parts, but about assigning the right people to the right touchpoints in the cash flow.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Theo_doi_Target_vs_Actual_va_phan_tich_lech_muc_tieu_variance_de_sua_dung_cho\"><\/span><b>Monitor Target vs Actual and analyze the variance to make necessary corrections.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Target vs. Actual only has value when you look beyond the numbers to identify the true points of deviation in the operational chain. The core principle: What is the purpose of Target vs. Actual? Not for making the report look good, but to answer the three questions CFOs need to know during the period:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">What is the difference?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Deviated <\/span><b>Where<\/b><span style=\"font-weight: 400;\"> in the operational chain?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is possible to intervene. <\/span><b>during the period or not<\/b><span style=\"font-weight: 400;\">?<\/span><\/li>\n<\/ol>\n<h3><span class=\"ez-toc-section\" id=\"Target_vs_Actual_nen_review_theo_nhip_nao_de_phat_hien_lech_som\"><\/span><b>What pace should we follow when reviewing Target vs. Actual to detect discrepancies early?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Effective goal tracking requires a clear review rhythm: weekly for operational metrics, monthly for financial, and quarterly for strategic. The right rhythm helps detect deviations early and allows for adjustments before closing the books. Standard tracking framework: 4 layers of data (CFO view)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Level 1 \u2013 Target (The goal has been finalized)<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">There is a clear baseline.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">There is a tolerance threshold.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Related to budget and cash flow<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Grade 2 \u2013 Actual (Reality of the period)<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Get from <\/span><b>data source<\/b><span style=\"font-weight: 400;\"> (ERP, AR\/AP, Invoice)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No manual adjustments<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Grade 3 \u2013 Variance (How much is the deviation?)<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Variance = Actual - Target<\/span><\/p>\n<p>%Variance=(Actual \u2013 Target)\/Target * 100%<\/p>\n<p><span style=\"font-weight: 400;\">Class 4 \u2013 Driver (Cause of misalignment)<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Who exerted influence?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Which step in the process?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Because <\/span><b>behavior<\/b><span style=\"font-weight: 400;\">, <\/span><b>procedure<\/b><span style=\"font-weight: 400;\"> good <\/span><b>data<\/b><span style=\"font-weight: 400;\">?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">CFOs need more Grade 4 qualifications than Grade 3 qualifications.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Khi_nao_can_dieu_chinh_muc_tieu_giua_ky_reforecast_va_dieu_chinh_theo_du_lieu_gi\"><\/span><b>When should we adjust our interim targets (reforecast) and based on what data?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A refresh isn&#039;t an admission of failure, but rather a management action taken when the nature of the data has changed. A timely refresh helps the CFO maintain control. An ill-timed refresh turns a goal into a compromise.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The CFO should only make a refresh when:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The initial assumption is no longer valid.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Or the financial leverage has reversed.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Dieu_chinh_muc_tieu_khac_%E2%80%9Cnoi_KPI%E2%80%9D_o_diem_nao\"><\/span><b>How does adjusting targets differ from &quot;loosening KPIs&quot;?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A refresher target is an update based on actual changes (market, orders, cash), not a lowering of standards to make reports look better. Proper adjustments must be based on data and accompanied by actionable solutions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Group 1. Actual Operating Data<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Source: ERP, AR\/AP, Invoice, Bank<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Group 2. Dynamic Baseline (Run-rate)<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">YTD<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Last 3 months (rolling)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Separate by:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Customer \u2013 Supplier \u2013 Cost Group<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">CFO needs <\/span><b>living baseline<\/b><span style=\"font-weight: 400;\">, no baseline at the beginning of the year.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Group 3. Driver variance data<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It&#039;s not just about knowing &quot;how much it&#039;s off,&quot; but also about knowing:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Price discrepancies<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Due to mass<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Due to the timing<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Due to behavior<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Refurbishing without knowing the driver is like fixing something blind.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Group 4. Cash &amp; liquidity data<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cash balance<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">13-week cash flow<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Credit limit<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Upcoming payment obligations<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Cash decided to set a target, not an ambition.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cach_thiet_lap_muc_tieu_chuyen_doi_so_Finance_Ops_Do_hieu_qua_va_ROI_the_nao_cho_dung\"><\/span><b>How to set digital transformation goals in Finance Ops: How to properly measure effectiveness and ROI?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Digital transformation in Finance Ops is not about &quot;modernization,&quot; but about reducing operating costs, shortening timelines, and mitigating financial and tax risks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Setting digital transformation goals for Finance Ops along three mandatory axes.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Axis 1 \u2013 Processing Time (Speed)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Axis 2 \u2013 Quality &amp; Risk<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Axis 3 \u2013 Operating Costs<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Muc_tieu_%E2%80%9Cgiam_gio_thu_cong%E2%80%9D_can_do_bang_chi_so_nao_va_tinh_ROI_ra_sao\"><\/span><b>What metrics should be used to measure the goal of &quot;reducing manual labor time,&quot; and how should the ROI be calculated?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The goals of digital transformation in finance should be measured by processing time, error rates, and operational cost savings. ROI is only meaningful when the time saved and risk reduced can be quantified in monetary terms.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Chi_so_cot_loi_Manual_Processing_Hours_MPH\"><\/span><b>Key metric: Manual Processing Hours (MPH)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><b>The core MPH indicator is <\/b><span style=\"font-weight: 400;\">Total hours finance personnel spend on manual tasks:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Data entry<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reconciliation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Check the invoice<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Summary report<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">MPH = \u2211(Number of transactions) * Processing time per transaction<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Chi_so_bo_tro_de_khong_bi_%E2%80%9Cao%E2%80%9D\"><\/span><span style=\"font-weight: 400;\">Supplementary indicators (to avoid being &quot;unrealistic&quot;)<\/span><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<table style=\"border-color: #000000;\" border=\"1\" cellspacing=\"1\">\n<tbody>\n<tr>\n<td><b>Index<\/b><\/td>\n<td><b>Meaning<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Avg. Processing Time \/ Invoice<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Processing time for one invoice<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Touchless Rate (%)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">% transactions do not require manual processing.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Rework Rate (%)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">% transaction needs to be redone<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Exception Rate<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Error rate<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><span class=\"ez-toc-section\" id=\"Tinh_ROI_chuyen_doi_so_Finance_Ops_nhu_the_nao_cho_dung\"><\/span><b>How to properly calculate the ROI of digital transformation in Finance Ops?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">ROI = (Annual Financial Benefit \u2013 Investment Cost) \/ Investment Cost<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Vi_du_tong_hop\"><\/span><b>Comprehensive example<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<table style=\"border-color: #000000;\" border=\"1\" cellspacing=\"1\">\n<tbody>\n<tr>\n<td><b>Amount<\/b><\/td>\n<td><b>Value \/ year<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Save working hours<\/span><\/td>\n<td><span style=\"font-weight: 400;\">864 million<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Reduce errors &amp; rework<\/span><\/td>\n<td><span style=\"font-weight: 400;\">630 million<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Reduce tax risk.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">300 million<\/span><\/td>\n<\/tr>\n<tr>\n<td><b>Total benefit<\/b><\/td>\n<td><b>1.794 billion<\/b><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>ROI &gt; 100%<\/b><span style=\"font-weight: 400;\"> \u2192 A worthwhile project<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">\u00a0<\/span><b>ROI &lt; 50%<\/b><span style=\"font-weight: 400;\"> \u2192 Review the range or expectations<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Bang_so_sanh_nhanh_va_checklist_trien_khai_de_team_khong_lam_sai_ngay_tu_tuan_dau_ve_thiet_lap_muc_tieu_la_gi\"><\/span><b>What are some quick comparison charts and implementation checklists to help the team avoid making mistakes in goal setting right from the first week?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A good goal-setting system requires: clear objectives, measurable KPIs, a consistent data source, a review schedule, and a pre-expenditure control mechanism. Checklists help reduce the risk of &quot;ordering and then abandoning&quot; and facilitate faster team onboarding.<\/span><\/p>\n<p><b>Table 1: \u201cGoal vs KPI vs OKR\u201d<\/b><\/p>\n<table style=\"border-color: #000000;\" border=\"1\" cellspacing=\"1\">\n<tbody>\n<tr>\n<td><span style=\"font-weight: 400;\">Criteria<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Site<\/span><\/td>\n<td><span style=\"font-weight: 400;\">KPI<\/span><\/td>\n<td><span style=\"font-weight: 400;\">OKR<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Concept<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Desired outcome at the target level<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Performance metrics<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Framework for change\/breakthrough goals<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Purpose<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Answer the question, &quot;What do we want to achieve?&quot;<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Answer &quot;Is it good or bad?&quot;<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Answer the question, &quot;How can we change?&quot;<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Nature<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Outcome<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Measurement (Metric)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Commitment + Priority<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Example: Finance Ops<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Improve cash flow<\/span><\/td>\n<td><span style=\"font-weight: 400;\">DSO, Exception Rate<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Reduced DSO from 60 to 45<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Writing style<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Short, no formula<\/span><\/td>\n<td><span style=\"font-weight: 400;\">There is a clear formula.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Objective + 2\u20134 KR<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Monitoring frequency<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Quarter \/ Year<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Day \/ Week \/ Month<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Month \/ Quarter<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Data sources<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Financial summary<\/span><\/td>\n<td><span style=\"font-weight: 400;\">ERP, AR\/AP, Invoice<\/span><\/td>\n<td><span style=\"font-weight: 400;\">KPI +l<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Common errors<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Writing too generally<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Use as a target<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Write it as a to-do checklist.<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">When to use<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Long-term orientation<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Stable operation<\/span><\/td>\n<td><span style=\"font-weight: 400;\">We need to change quickly.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<figure id=\"attachment_999979736\" aria-describedby=\"caption-attachment-999979736\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-999979736\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/thiet-lap-muc-tieu-la-gi-3.webp\" alt=\"What is goal setting? 3\" width=\"1200\" height=\"778\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/thiet-lap-muc-tieu-la-gi-3.webp 1480w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/thiet-lap-muc-tieu-la-gi-3-300x195.webp 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/thiet-lap-muc-tieu-la-gi-3-1024x664.webp 1024w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/thiet-lap-muc-tieu-la-gi-3-768x498.webp 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/thiet-lap-muc-tieu-la-gi-3-18x12.webp 18w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption id=\"caption-attachment-999979736\" class=\"wp-caption-text\">Quick comparison table of KPIs and OKRs<\/figcaption><\/figure>\n<p><b>Table 2: \u201cCommon CFO Objectives and Measurable KPIs\u201d<\/b><\/p>\n<table style=\"width: 44.3304%; border-color: #000000;\" border=\"1\" cellspacing=\"1\">\n<tbody>\n<tr>\n<td style=\"width: 28.757%;\"><b>CFO objectives<\/b><\/td>\n<td style=\"width: 34.5083%;\"><b>Key performance indicators (KPIs)<\/b><\/td>\n<td style=\"width: 56.4007%;\"><b>Recipe \/ Notes<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 28.757%;\"><span style=\"font-weight: 400;\">Improve cash flow<\/span><\/td>\n<td style=\"width: 34.5083%;\"><span style=\"font-weight: 400;\">Operating Cash Flow<\/span><\/td>\n<td style=\"width: 56.4007%;\"><span style=\"font-weight: 400;\">Cash Report<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 28.757%;\"><span style=\"font-weight: 400;\">Reduce DSO<\/span><\/td>\n<td style=\"width: 34.5083%;\"><span style=\"font-weight: 400;\">DSO<\/span><\/td>\n<td style=\"width: 56.4007%;\"><span style=\"font-weight: 400;\">AR \/ Credit Sales \u00d7 Days<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 28.757%;\"><span style=\"font-weight: 400;\">Cost Control<\/span><\/td>\n<td style=\"width: 34.5083%;\"><span style=\"font-weight: 400;\">Cost Variance (%)<\/span><\/td>\n<td style=\"width: 56.4007%;\"><span style=\"font-weight: 400;\">(Actual \u2013 Budget) \/ Budget<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 28.757%;\"><span style=\"font-weight: 400;\">Reduce invoice risk.<\/span><\/td>\n<td style=\"width: 34.5083%;\"><span style=\"font-weight: 400;\">Exception Rate<\/span><\/td>\n<td style=\"width: 56.4007%;\"><span style=\"font-weight: 400;\">Error invoices \/ Total<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 28.757%;\"><span style=\"font-weight: 400;\">Preventing incorrect payments<\/span><\/td>\n<td style=\"width: 34.5083%;\"><span style=\"font-weight: 400;\">3-way Mismatch Rate<\/span><\/td>\n<td style=\"width: 56.4007%;\"><span style=\"font-weight: 400;\">Invoice \u2260 Purchase Order \u2260 Gross Price<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 28.757%;\"><span style=\"font-weight: 400;\">Optimize DPO<\/span><\/td>\n<td style=\"width: 34.5083%;\"><span style=\"font-weight: 400;\">DPO<\/span><\/td>\n<td style=\"width: 56.4007%;\"><span style=\"font-weight: 400;\">AP \/ COGS \u00d7 Days<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 28.757%;\"><span style=\"font-weight: 400;\">Reduce manual labor time.<\/span><\/td>\n<td style=\"width: 34.5083%;\"><span style=\"font-weight: 400;\">Manual Processing Hours<\/span><\/td>\n<td style=\"width: 56.4007%;\"><span style=\"font-weight: 400;\">\u2211(Transactions \u00d7 Time)<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 28.757%;\"><span style=\"font-weight: 400;\">Increase automation<\/span><\/td>\n<td style=\"width: 34.5083%;\"><span style=\"font-weight: 400;\">Touchless Rate<\/span><\/td>\n<td style=\"width: 56.4007%;\"><span style=\"font-weight: 400;\">Auto \/ Total<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 28.757%;\"><span style=\"font-weight: 400;\">Speed up processing<\/span><\/td>\n<td style=\"width: 34.5083%;\"><span style=\"font-weight: 400;\">Invoice Cycle Time<\/span><\/td>\n<td style=\"width: 56.4007%;\"><span style=\"font-weight: 400;\">Pay \u2013 Receive<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 28.757%;\"><span style=\"font-weight: 400;\">Tax compliance<\/span><\/td>\n<td style=\"width: 34.5083%;\"><span style=\"font-weight: 400;\">Vendor Risk Rate<\/span><\/td>\n<td style=\"width: 56.4007%;\"><span style=\"font-weight: 400;\">Risk vendors \/ Total<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>CFO Rules:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">1 goal associated with <\/span><b>1\u20132 core KPIs<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Do not assign more than 3 KPIs to one goal.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"FAQ_ve_cach_thiet_lap_muc_tieu_cho_CFO_va_phong_Tai_chinh_%E2%80%93_Ke_toan\"><\/span><b>FAQ on how to set goals for the CFO and the Finance and Accounting department.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Below is a section answering questions related to goal setting.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Thiet_lap_muc_tieu_la_gi\"><\/span><strong>What is goal setting?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Setting goals<\/b><span style=\"font-weight: 400;\"> is the process of identification <\/span><b>desired outcome<\/b><span style=\"font-weight: 400;\">, Okay:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Measure by <\/span><b>specific index<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Have <\/span><b>guilty<\/b><span style=\"font-weight: 400;\"> (starting point)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Have <\/span><b>deadline<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Have <\/span><b>The owner is responsible.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">There is a tracking mechanism. <\/span><b>Target vs Actual<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">For the CFO, the goal is... <\/span><b>It is only valid when measured with real data.<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Muc_tieu_va_muc_dich_khac_nhau_the_nao\"><\/span><strong>What is the difference between goals and objectives?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Purpose is a direction, while goals are measurable and time-bound targets.<\/span><\/p>\n<table style=\"width: 29.3425%; border-color: #000000;\" border=\"1\" cellspacing=\"1\">\n<tbody>\n<tr>\n<td style=\"width: 30.0654%;\"><b>Criteria<\/b><\/td>\n<td style=\"width: 37.9085%;\"><b>Purpose<\/b><\/td>\n<td style=\"width: 69.6078%;\"><b>Target<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 30.0654%;\"><span style=\"font-weight: 400;\">Nature<\/span><\/td>\n<td style=\"width: 37.9085%;\"><span style=\"font-weight: 400;\">Orientation<\/span><\/td>\n<td style=\"width: 69.6078%;\"><span style=\"font-weight: 400;\">Destination<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 30.0654%;\"><span style=\"font-weight: 400;\">Measurement<\/span><\/td>\n<td style=\"width: 37.9085%;\"><span style=\"font-weight: 400;\">Optional<\/span><\/td>\n<td style=\"width: 69.6078%;\"><span style=\"font-weight: 400;\">Measurement required<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 30.0654%;\"><span style=\"font-weight: 400;\">Duration<\/span><\/td>\n<td style=\"width: 37.9085%;\"><span style=\"font-weight: 400;\">Long term<\/span><\/td>\n<td style=\"width: 69.6078%;\"><span style=\"font-weight: 400;\">There is a deadline.<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 30.0654%;\"><span style=\"font-weight: 400;\">Responsibility<\/span><\/td>\n<td style=\"width: 37.9085%;\"><span style=\"font-weight: 400;\">Shared<\/span><\/td>\n<td style=\"width: 69.6078%;\"><span style=\"font-weight: 400;\">Clearly, Ms.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><b>For example<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Purpose: <\/span><i><span style=\"font-weight: 400;\">Improve cash flow<\/span><\/i><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Target: <\/span><i><span style=\"font-weight: 400;\">Reduce DSO from 60 to 45 days over 6 months.<\/span><\/i><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"KPI_nao_quan_trong_nhat_de_danh_gia_kiem_soat_chi_phi_tu_dong\"><\/span><span style=\"font-weight: 400;\">Which KPIs are most important for evaluating automated cost control?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Prioritize KPIs that reflect &quot;pre-control&quot; (blocking spending before it happens), not post-auditing.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>KPI<\/b><\/td>\n<td><b>Meaning<\/b><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Overrun %<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Over-budget ratio<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Spend Leakage<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Off-process spending<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Approval Cycle Time<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Approval time<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Exception Rate<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Anomaly rate<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span style=\"font-weight: 400;\">Good KPIs are KPIs <\/span><b>Block the money before it leaves the business.<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Lam_sao_gan_muc_tieu_ngan_sach_vao_quy_trinh_phe_duyet_chi_tieu\"><\/span><b>How can we link budget targets to the spending approval process?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Finalize budgets by department\/project, set approval thresholds, and enable over-budget alerts before approval. The correct way (CFO standard).<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Budget Envelope<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">By department \/ project \/ expenditure category<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Set the review threshold.<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In budget \u2192 fast review<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Exceeding the budget \u2192 escalation<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Turn on alerts before browsing.<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Don&#039;t wait until the final report.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Lam_sao_thiet_lap_muc_tieu_tuan_thu_thue_lien_quan_hoa_don\"><\/span><b>How do I set tax compliance goals related to invoices?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">It&#039;s not measured by &quot;avoiding penalties,&quot; but by the percentage of risks that are mitigated early. Tax compliance is about process management, not dealing with consequences.<\/span><\/p>\n<table style=\"width: 23.0387%;\">\n<tbody>\n<tr>\n<td style=\"width: 65.2672%;\"><span style=\"font-weight: 400;\">KPI<\/span><\/td>\n<td style=\"width: 58.3969%;\"><span style=\"font-weight: 400;\">Target<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 65.2672%;\"><span style=\"font-weight: 400;\">Invoice Exception Rate<\/span><\/td>\n<td style=\"width: 58.3969%;\"><span style=\"font-weight: 400;\">\u2264 5%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 65.2672%;\"><span style=\"font-weight: 400;\">3-way Mismatch Rate<\/span><\/td>\n<td style=\"width: 58.3969%;\"><span style=\"font-weight: 400;\">\u2264 2\u20133%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 65.2672%;\"><span style=\"font-weight: 400;\">Vendor Risk Rate<\/span><\/td>\n<td style=\"width: 58.3969%;\"><span style=\"font-weight: 400;\">\u2264 5%<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 65.2672%;\"><span style=\"font-weight: 400;\">Invoice Cycle Time<\/span><\/td>\n<td style=\"width: 58.3969%;\"><span style=\"font-weight: 400;\">\u2264 3\u20135 days<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h3><span class=\"ez-toc-section\" id=\"DSO_la_gi_va_dat_muc_tieu_DSO_the_nao_de_khong_mat_khach\"><\/span><b>What is DSO and how do you set DSO targets without losing customers?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">DSO (Days Sales Outstanding) is the average number of days to collect payment after a sale.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Setting DSO goals correctly<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Customer segmentation (key \/ long-tail)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Don&#039;t apply one number to everyone.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Monitor:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Aging report<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">% AR &gt;30 \/ 60 days<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Early intervention before the deadline.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Muc_tieu_%E2%80%9Cdong_tien_duong%E2%80%9D_nen_bat_dau_tu_dau\"><\/span><b>Where should the goal of achieving &quot;positive cash flow&quot; begin?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Start by controlling expenses before spending (spend), reduce DSO using debt collection scenarios, and reduce invoice discrepancies.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Khi_nao_nen_reforecast_muc_tieu\"><\/span><strong>When should you refresh your target?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Refresh when <\/span><b>Assuming the background has changed<\/b><span style=\"font-weight: 400;\">, not when it &quot;fails&quot;.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Required signals<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Run-rate deviation &gt;10\u201315%<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Costs are consistently exceeding the threshold.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">DSO increases for an extended period.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Revenue\/profit margin fluctuates significantly.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Referecast is <\/span><b>management actions<\/b><span style=\"font-weight: 400;\">No compromise.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Tinh_ROI_cua_muc_tieu_tu_dong_hoa_ke_toan_the_nao\"><\/span><b>How do you calculate the ROI of accounting automation goals?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Principle: ROI is only meaningful when <\/span><b>can be converted into money.<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Standard calculation method<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Convert time savings<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Cost savings = Hours saved * Hourly labor cost<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Error conversion &amp; rework reduction<\/b><\/li>\n<\/ul>\n<p>Cost savings due to reduced errors = \u0394(Error Rate) * Cost per Error * Number of transactions<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Excluding deployment costs<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">ROI = (Annual Financial Benefit \u2013 Investment Cost) \/ Investment Cost<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ket_luan\"><\/span><b>Conclude<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The above information covers what goal setting is and how to set effective goals for a business. Generally speaking, goal setting isn&#039;t just a strategic exercise on paper; it&#039;s a management action that determines whether money stays or leaves the business. For CFOs and the Finance and Accounting department, incorrect goals not only lead to incorrect KPIs but also result in skewed budgets, distorted cash flow, and accumulated risk.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A well-defined goal helps the CFO:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Prioritize the right financial leverage (DSO, expenses, invoices, cash).<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Align CEO strategy with departmental operations.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Detect discrepancies early and correct them during the period, instead of explaining them at the end of the quarter.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Protect cash flow and ensure compliance, not at the expense of short-term gains.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Conversely, vague or unmeasurable goals will:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Make each department run a KPI.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Turn the budget into a reference figure.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">This leads CFOs to &quot;chase numbers&quot; instead of controlling the system.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In reality, the goal often fails because:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Distributed, manual data<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">High reporting lag<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Subjective measurement<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The team spent time compiling data instead of analyzing it.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This is the time for them <\/span><b>Finance Ops technology solutions like Bizzi<\/b><span style=\"font-weight: 400;\"> Maximize value. Solutions such as <\/span><b>Bizzi<\/b><span style=\"font-weight: 400;\"> Help the CFO:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Normalize input data<\/b><span style=\"font-weight: 400;\">: invoices, expenses, accounts payable<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Pre-control settings<\/b><span style=\"font-weight: 400;\">: Blocking overspending, pre-payment risk invoices<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Automated KPI measurement<\/b><span style=\"font-weight: 400;\">: DSO, exception rate, cycle time, cost variance<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Track Target vs Actual real-time<\/b><span style=\"font-weight: 400;\">, reducing decision lag<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Unleash resources<\/b><span style=\"font-weight: 400;\">: Reduce manual labor time, increase analysis and operational time<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Then:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The goal is no longer dependent on the Excel file.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">KPIs are no longer just &quot;reported numbers&quot;.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Finance team moved from <\/span><b>handle<\/b><span style=\"font-weight: 400;\"> luxurious <\/span><b>control &amp; value creation<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In summary, setting the right goals helps CFOs control the future using current data. Implementing Bizzi solutions ensures those goals are accurately measured, tracked in a timely manner, and executed with fewer resources. To receive personalized advice on solutions tailored to your business, register here: <a href=\"https:\/\/bizzi.vn\/dang-ky-dung-thu\/\">https:\/\/bizzi.vn\/dang-ky-dung-thu\/<\/a><\/span><\/p>","protected":false},"excerpt":{"rendered":"<p>You set your goals, but at the end of the month you still don&#039;t know where you&#039;ve gone wrong. The problem is often not with SMART, but with\u2026<\/p>","protected":false},"author":56,"featured_media":999979734,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[76,84],"tags":[],"class_list":["post-999979731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-goc-nhin-cfo","category-thiet-lap"],"acf":[],"_links":{"self":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999979731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/comments?post=999979731"}],"version-history":[{"count":5,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999979731\/revisions"}],"predecessor-version":[{"id":999979886,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999979731\/revisions\/999979886"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/media\/999979734"}],"wp:attachment":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/media?parent=999979731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/categories?post=999979731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/tags?post=999979731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}