{"id":999979814,"date":"2026-01-17T13:18:05","date_gmt":"2026-01-17T06:18:05","guid":{"rendered":"https:\/\/bizzi.vn\/?p=999979814"},"modified":"2026-06-03T23:33:04","modified_gmt":"2026-06-03T16:33:04","slug":"what-does-it-mean-to-waste-time","status":"publish","type":"post","link":"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/","title":{"rendered":"What is wasted time? How to convert &quot;lost work hours&quot; into costs (OpEx\/ROI) and reduce them through automation."},"content":{"rendered":"<p>Wasting time isn&#039;t just about &quot;laziness&quot; or &quot;distraction,&quot; but is often a symptom of manual processes, fragmented data, and cumbersome approvals. For CFOs, wasted time always boils down to three consequences: increased OpEx (operating costs), increased risk of errors\/fraud, and slowed cash flow (especially in invoices and accounts receivable).<\/p>\n<p>This article helps you define what &quot;wasted time&quot; is, identify the causes of wasted time in businesses, quantify it using formulas, and apply a set of process-technology solutions to eliminate repetitive tasks at their root.<\/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-does-it-mean-to-waste-time\/#Lang_phi_thoi_gian_la_gi_trong_doanh_nghiep_va_vi_sao_CFO_can_dinh_nghia_theo_%E2%80%9Cgia_tri_tao_ra%E2%80%9D\" >What constitutes wasted time in a business, and why should CFOs define it in terms of &quot;value created&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-does-it-mean-to-waste-time\/#_Vi_sao_CFO_phai_dinh_nghia_thoi_gian_theo_%E2%80%9Cgia_tri_tao_ra%E2%80%9D\" >\u00a0Why should CFOs define time in terms of &quot;value created&quot;?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Lang_phi_thoi_gian_khac_gi_voi_lam_viec_kem_hieu_qua_va_mat_tap_trung\" >How is wasting time different from being inefficient and distracted?<\/a><\/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-does-it-mean-to-waste-time\/#5_dau_hieu_cho_thay_doanh_nghiep_dang_lang_phi_thoi_gian_trong_van_hanh_tai_chinh_%E2%80%93_ke_toan\" >5 signs that your business is wasting time on financial and accounting operations.<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#1_Doi_tai_chinh_%E2%80%9Crat_ban%E2%80%9D_nhung_luon_thieu_thoi_gian_cho_phan_tich\" >1. The finance team is &quot;very busy&quot; but always lacks time for analysis.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#2_Quy_trinh_phe_duyet_nhieu_tang_nhung_van_cham_va_rui_ro\" >2. The multi-tiered approval process is still slow and risky.<\/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-does-it-mean-to-waste-time\/#3_Xu_ly_hoa_don_va_cong_no_mang_tinh_lap_lai_chua_chay\" >3. Handling recurring invoices and accounts receivable, firefighting.<\/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-does-it-mean-to-waste-time\/#4_Bao_cao_nhieu_nhung_quyet_dinh_it\" >4. Lots of reports, few decisions.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#5_Thoi_gian_closing_keo_dai_phu_thuoc_nhieu_vao_con_nguoi\" >5. The closing time is lengthy and highly dependent on human factors.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Nguyen_nhan_gay_lang_phi_thoi_gian_tai_cong_so_la_gi_va_vi_sao_%E2%80%9Cthay_doi_thoi_quen%E2%80%9D_chua_du\" >What are the causes of wasted time at the workplace, and why isn&#039;t simply &quot;changing habits&quot; enough?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Lop_1_%E2%80%93_Thoi_quen_ca_nhan_bieu_hien_de_thay_nhat\" >Grade 1 \u2013 Personal Habits (the most easily observable manifestation)<\/a><\/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-does-it-mean-to-waste-time\/#Lop_2_%E2%80%93_Quy_trinh_to_chuc_nguyen_nhan_cot_loi\" >Level 2 \u2013 Organizational Processes (Core Causes)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Lop_3_%E2%80%93_Cong_nghe_du_lieu_ke_khuech_dai_lang_phi\" >Grade 3 \u2013 Technology &amp; Data (the amplifier of waste)<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Quy_trinh_thu_cong_trong_ke_toan_%E2%80%93_tai_chinh_dan_den_lang_phi_thoi_gian_nhu_the_nao\" >How do manual processes in accounting and finance lead to wasted time?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Nhap_lieu_thu_cong_%E2%86%92_lang_phi_ngay_tu_diem_xuat_phat\" >Manual data entry \u2192 wasteful right from the start.<\/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-does-it-mean-to-waste-time\/#Doi_soat_thu_cong_%E2%86%92_%E2%80%9Cnut_that_co_chai%E2%80%9D_vo_hinh\" >Manual reconciliation \u2192 an invisible &quot;bottleneck&quot;<\/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-does-it-mean-to-waste-time\/#Phe_duyet_thu_cong_%E2%86%92_thoi_gian_chet_nhieu_hon_thoi_gian_xu_ly\" >Manual approval \u2192 more downtime than processing time<\/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-does-it-mean-to-waste-time\/#Bao_cao_thu_cong_%E2%86%92_lang_phi_tri_tue_chat_xam\" >Manual reporting \u2192 waste of intellectual resources.<\/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-does-it-mean-to-waste-time\/#Sua_sai_thu_cong_%E2%86%92_lang_phi_day_chuyen\" >Manual error correction \u2192 wasteful production line<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Lang_phi_kho_do_nhung_rat_ton\" >Waste is difficult to measure but very costly.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Vi_sao_phe_duyet_da_cap_tao_bottleneck_va_lam_tang_%E2%80%9Cdecision_latency%E2%80%9D_trong_doanh_nghiep\" >Why does multi-level approval create a bottleneck and increase decision latency in businesses?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Quyet_dinh_bi_don_len_it_nguoi_%E2%86%92_bottleneck_cau_truc\" >Decision-making is concentrated among a small number of people \u2192 structural bottleneck<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Thieu_han_muc_rule_%E2%86%92_phe_duyet_thay_cho_tu_duy\" >Lack of quotas and rules \u2192 approval instead of critical thinking.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Phu_thuoc_chat_email_%E2%86%92_decision_latency_tang_theo_cap_so_nhan\" >Dependence on chat\/email \u2192 decision latency increases exponentially.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Phe_duyet_tuan_tu_%E2%86%92_do_tre_cong_don\" >Sequential approval \u2192 cumulative delay<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Lanh_dao_bi_keo_vao_vi_quan_ly\" >Leaders are drawn into micromanagement.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Tac_dong_day_chuyen_den_tai_chinh_van_hanh\" >The ripple effect on finance and operations.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Nguyen_nhan_gay_lang_phi_thoi_gian_co_the_lam_tang_rui_ro_tai_chinh_va_gian_lan_noi_bo_nhu_the_nao\" >How can wasted time increase financial risk and internal fraud?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Quy_trinh_cham_%E2%86%92_%E2%80%9Cduong_tat%E2%80%9D_xuat_hien_shadow_process\" >Slow processes \u2192 \u201cshortcuts\u201d appear (shadow processes)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Shadow_process_%E2%86%92_mat_truy_vet_loss_of_audit_trail\" >Shadow process \u2192 loss of audit trail<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Bo_qua_buoc_kiem_soat_%E2%86%92_rui_ro_nhan_len_theo_cap_so\" >Skipping the control step \u2192 risk multiplies exponentially.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-32\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Rework_xu_ly_hau_qua_%E2%86%92_lang_phi_thoi_gian_thu_cap\" >Rework and post-work cleanup \u2192 secondary waste of time.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-33\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Ap_luc_cuoi_ky_%E2%86%92_moi_truong_ly_tuong_cho_gian_lan\" >End-of-term pressure \u2192 ideal environment for cheating<\/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-does-it-mean-to-waste-time\/#Tam_giac_gian_lan_Fraud_Triangle_bi_kich_hoat\" >The Fraud Triangle has been triggered.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-35\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Lang_phi_thoi_gian_la_gi_va_anh_huong_den_dong_tien_qua_DSO_va_chi_phi_von_nhu_the_nao\" >What is wasted time and how does it affect cash flow through DSO and cost of capital?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-36\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Lang_phi_thoi_gian_lam_xau_dong_tien_qua_DSO_nhu_the_nao\" >How does wasting time negatively impact cash flow through DSOs?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-37\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Lang_phi_thoi_gian_anh_huong_chi_phi_von_Cost_of_Capital_ra_sao\" >How does wasted time affect the cost of capital?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-38\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Cac_phuong_phap_quan_ly_thoi_gian_pho_bien_co_thuc_su_giam_lang_phi_thoi_gian_doanh_nghiep_khong\" >Do popular time management methods actually reduce wasted business time?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-39\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Pomodoro\" >Pomodoro<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-40\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Eisenhower_Matrix_Quan_trong_%E2%80%93_Khan_cap\" >Eisenhower Matrix (Important \u2013 Urgent)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-41\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#To-do_list_GTD\" >To-do list \/ GTD<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-42\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Doanh_nghiep_nen_cat_lang_phi_thoi_gian_tu_dau_hoa_don_phe_duyet_chi_phi_hay_cong_no\" >Where should businesses cut wasted time: invoices, expense approvals, or accounts receivable?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-43\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Vi_sao_day_la_cac_diem_tao_ROI_nhanh\" >Why are these points of interest that generate ROI quickly?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-44\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Nen_uu_tien_theo_logic_nao_de_thay_hieu_qua_som\" >Which logic should be prioritized to see results sooner?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-45\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Tu_dong_hoa_xu_ly_hoa_don_va_doi_soat_3_chieu_giam_lang_phi_thoi_gian_nhu_the_nao\" >How does automating invoice processing and three-way reconciliation reduce wasted time?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-46\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#1_Loai_bo_thoi_gian_nhap_lieu_thu_cong_%E2%80%93_nguon_lang_phi_hien_nhien_nhat\" >1. Eliminate manual data entry time \u2013 the most obvious source of waste.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-47\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#2_Chuyen_tu_%E2%80%9Cxu_ly_tat_ca%E2%80%9D_sang_%E2%80%9Cchi_xu_ly_ngoai_le%E2%80%9D\" >2. Change from \u201chandle all\u201d to \u201chandle only exceptions\u201d<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-48\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#3_Phat_hien_sai_lech_som_%E2%86%92_giam_rework_va_tranh_thanh_toan_sai\" >3. Early detection of discrepancies \u2192 reduces rework and avoids incorrect payments.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-49\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#4_Tac_dong_truc_tiep_den_chi_phi_va_dong_tien\" >4. Direct impact on costs and cash flow<\/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-does-it-mean-to-waste-time\/#Tu_dong_hoa_phe_duyet_chi_phi_giup_loai_bo_bottleneck_ma_van_kiem_soat_rui_ro_ra_sao\" >How does automated expense approval eliminate bottlenecks while still controlling risk?<\/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-does-it-mean-to-waste-time\/#1_Go_bottleneck_bang_tuyen_duyet_ro_rang_dung_nguoi_%E2%80%93_dung_cap_%E2%80%93_dung_thoi_diem\" >1. Remove bottlenecks with a clear approval process: the right person \u2013 at the right level \u2013 at the right time.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-52\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#2_Thay_kiem_soat_thu_cong_bang_kiem_soat_bang_quy_tac\" >2. Replace manual control with rule-based control.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-53\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#3_Giam_rui_ro_bang_dau_vet_phe_duyet_va_kha_nang_truy_vet\" >3. Reduce risk through approval traceability and tracking capabilities.<\/a><\/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-does-it-mean-to-waste-time\/#4_Canh_bao_som_thay_vi_xu_ly_khi_da_qua_muon\" >4. Early warning instead of dealing with it when it&#039;s too late.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-55\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Tu_dong_hoa_nhac_no_theo_kich_ban_giup_giam_lang_phi_thoi_gian_va_cai_thien_DSO_nhu_the_nao\" >How does automated debt reminder system reduce wasted time and improve DSO (Debt Service Order)?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-56\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#1_Loai_bo_lang_phi_do_phu_thuoc_tri_nho_va_thao_tac_lap_lai\" >1. Eliminate waste caused by reliance on memory and repetitive tasks.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-57\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#2_Nhac_dung_thoi_diem_%E2%80%93_yeu_to_then_chot_de_giam_DSO\" >2. Reminding at the right time \u2013 a key factor in reducing DSO.<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-58\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#3_Theo_doi_phan_hoi_va_cap_nhat_tuoi_no_theo_thoi_gian_thuc\" >3. Monitor responses and update debt aging in real time.<\/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-does-it-mean-to-waste-time\/#4_Tap_trung_nguon_luc_vao_khoan_no_%E2%80%9Cco_van_de%E2%80%9D\" >4. Focus resources on &quot;problematic&quot; debt.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-60\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#FAQ_Cau_hoi_thuong_gap_ve_nguyen_nhan_lang_phi_thoi_gian_trong_doanh_nghiep_la_gi\" >FAQ: Frequently Asked Questions about the causes of wasted time in businesses.<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-61\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Lang_phi_thoi_gian_la_gi\" >What is wasting time?<\/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-does-it-mean-to-waste-time\/#Lam_sao_do_luong_lang_phi_thoi_gian_trong_phong_ke_toan\" >How can we measure wasted time in the accounting department?<\/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-does-it-mean-to-waste-time\/#Quy_doi_thoi_gian_lang_phi_thanh_chi_phi_va_ROI_nhu_the_nao\" >How do you convert wasted time into costs and ROI?<\/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-does-it-mean-to-waste-time\/#Vi_sao_ERP_van_gay_lang_phi_thoi_gian_trong_lap_ke_hoach_ngan_sach_va_du_bao\" >Why does ERP still waste time in budget planning and forecasting?<\/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-does-it-mean-to-waste-time\/#Tu_dong_hoa_doi_soat_3_chieu_3-way_matching_giup_giam_lang_phi_o_AP_the_nao\" >How does 3-way matching automation reduce waste at APs?<\/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-does-it-mean-to-waste-time\/#DSO_cham_lien_quan_gi_den_lang_phi_thoi_gian_va_chi_phi_von\" >How does a slow DSO (Demand for Sale) relate to wasted time and capital costs?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-67\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Lam_sao_giam_bottleneck_phe_duyet_ma_khong_tang_rui_ro_gian_lan\" >How can we reduce the approval bottleneck without increasing the risk of fraud?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-68\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#CFO_nen_uu_tien_cat_lang_phi_thoi_gian_o_khau_nao_truoc\" >Which areas should a CFO prioritize cutting wasted time in first?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-69\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Bizzi_giup_doanh_nghiep_giam_lang_phi_thoi_gian_%E2%80%9Ctan_goc%E2%80%9D_nhu_the_nao\" >How does Bizzi help businesses eliminate wasted time at its root?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-70\" href=\"https:\/\/bizzi.vn\/en\/what-does-it-mean-to-waste-time\/#Ket_luan\" >Conclude<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Lang_phi_thoi_gian_la_gi_trong_doanh_nghiep_va_vi_sao_CFO_can_dinh_nghia_theo_%E2%80%9Cgia_tri_tao_ra%E2%80%9D\"><\/span><b>What constitutes wasted time in a business, and why should CFOs define it in terms of &quot;value created&quot;?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Wasted time in business refers to the time spent on activities. <\/span><b>does not create value<\/b><span style=\"font-weight: 400;\"> Or it can create low value relative to the resources expended, increasing operating costs and prolonging decision-making time. For CFOs, &quot;waste&quot; must be measurable using data.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"_Vi_sao_CFO_phai_dinh_nghia_thoi_gian_theo_%E2%80%9Cgia_tri_tao_ra%E2%80%9D\"><\/span><b>\u00a0Why should CFOs define time in terms of &quot;value created&quot;?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The CFO views time as equal to money. Each hour worked is equivalent to: Salary, Benefits, Opportunity Cost. If time doesn&#039;t create value, then it is: <a href=\"https:\/\/bizzi.vn\/chi-phi-an-implicit-cost-la-gi-cach-de-kiem-soat-chi-phi-an\/\">Hidden costs<\/a> is eroding profits.<\/p>\n<p><span style=\"font-weight: 400;\">A team can:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Do it faster<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Do more<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">But if:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Incorrect order of priority<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Optimizing non-critical tasks<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The CFO considered this to be local efficiency optimization.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The CFO is responsible for resource allocation. Time is the most scarce resource, and the most difficult to expand:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Budget<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tools<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Human Resources<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Defining by value helps the CFO:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Decide what to automate.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Which process should be eliminated or simplified?<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Where should you invest in technology to get the fastest return on investment?<\/span><\/li>\n<\/ul>\n<p>In short, wasted time in a business equals time that does not generate economic value or operational capacity. For a CFO, defining time in terms of \u201cvalue created\u201d is a prerequisite for:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Profit protection<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Optimize cash flow<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Preparing for sustainable growth<\/span><\/li>\n<\/ul>\n<figure id=\"attachment_999979816\" aria-describedby=\"caption-attachment-999979816\" style=\"width: 828px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-999979816 size-full\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-1.png\" alt=\"What is wasting time?\" width=\"828\" height=\"381\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-1.png 828w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-1-300x138.png 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-1-768x353.png 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-1-18x8.png 18w\" sizes=\"(max-width: 828px) 100vw, 828px\" \/><figcaption id=\"caption-attachment-999979816\" class=\"wp-caption-text\">Wasted time in business refers to the expenditure of time on activities that create little or no value relative to the resources expended.<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Lang_phi_thoi_gian_khac_gi_voi_lam_viec_kem_hieu_qua_va_mat_tap_trung\"><\/span><b>How is wasting time different from being inefficient and distracted?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Wasted time typically involves spending time on non-value-adding tasks or repetitive work due to process errors, while inefficiency results in low value creation due to poor skills\/methods. Distraction is a contributing factor, but not the root cause, of wasted time in a business.<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Concept<\/b><\/td>\n<td><b>Nature<\/b><\/td>\n<td><b>CFO looks at<\/b><\/td>\n<td><b>For example<\/b><\/td>\n<\/tr>\n<tr>\n<td>Wasting time<\/td>\n<td><span style=\"font-weight: 400;\">Work <\/span>does not create value<\/td>\n<td><span style=\"font-weight: 400;\">Should this activity exist?<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Prepare a report. <\/span>nobody uses it<\/p>\n<p><span style=\"font-weight: 400;\">The meeting was just for &quot;updates,&quot; but <\/span>indecisive<\/p>\n<p><span style=\"font-weight: 400;\">Manually check for risks. <\/span>There are already automatic rules.<\/td>\n<\/tr>\n<tr>\n<td>Ineffective<\/td>\n<td><span style=\"font-weight: 400;\">Do <\/span>doing the right thing<span style=\"font-weight: 400;\"> But <\/span>It wastes too many resources.<\/td>\n<td><span style=\"font-weight: 400;\">Is there a better way to do it?<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Manual invoice reconciliation instead of 3-way matching.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The approval process is the same for all expenditures.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Create reports manually in Excel instead of using the dashboard.<\/span><\/td>\n<\/tr>\n<tr>\n<td>Distraction<\/td>\n<td><span style=\"font-weight: 400;\">Time <\/span>fragment<span style=\"font-weight: 400;\">, without achieving results<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Why couldn&#039;t it be completed?<\/span><\/td>\n<td><span style=\"font-weight: 400;\">One report took three days to complete due to constant interruptions.<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Financial decisions are being delayed due to a lack of focus window.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>Why are CFOs particularly concerned about &quot;wasted time&quot;?<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Inefficient \u2192 additional costs<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Lack of focus \u2192 slow decision-making<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Wasting time \u2192 creates no value regardless of the cost.<\/li>\n<\/ul>\n<p>A CFO can accept temporary inefficiencies, but cannot tolerate maintaining activities that don&#039;t create value.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"5_dau_hieu_cho_thay_doanh_nghiep_dang_lang_phi_thoi_gian_trong_van_hanh_tai_chinh_%E2%80%93_ke_toan\"><\/span><b>5 signs that your business is wasting time on financial and accounting operations.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Businesses are wasting time with signs such as: lengthy approval wait times, multiple manual data entry attempts, reports dependent on Excel, backlog of exception handling, and having to &quot;chase after&quot; invoices\/accounts receivable instead of proactively managing them.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Doi_tai_chinh_%E2%80%9Crat_ban%E2%80%9D_nhung_luon_thieu_thoi_gian_cho_phan_tich\"><\/span><strong>1. The finance team is &quot;very busy&quot; but always lacks time for analysis.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Token<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Accountants and finance professionals often work overtime.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Most of the time is spent on data entry, reconciliation, and error handling.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Little time for:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Cost Analysis<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Cash flow forecast<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Business consulting<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b>Nature: <\/b><span style=\"font-weight: 400;\">Time is being &quot;burned&quot; for <\/span><b>low-value operational tasks<\/b><span style=\"font-weight: 400;\">, instead of <\/span><b>high-value financial thinking<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><b>CFO Warning: <\/b><span style=\"font-weight: 400;\">Finance is playing a role <\/span><b>back-office records<\/b><span style=\"font-weight: 400;\">, Not <\/span><b>business partner<\/b><\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Quy_trinh_phe_duyet_nhieu_tang_nhung_van_cham_va_rui_ro\"><\/span><strong>2. The multi-tiered approval process is still slow and risky.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Token<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Approval via email, chat, or written documents.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Every expenditure has to go through the same multiple levels.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It still happens:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Late payment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Incorrect payment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Loss of budget control<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b>Nature: <\/b><span style=\"font-weight: 400;\">Time-consuming <\/span><b>human inspection<\/b><span style=\"font-weight: 400;\">but not controlled by <\/span><b>Risk &amp; Data<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><b>CFO Warning<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">&quot;Many steps&quot; \u2260 &quot;Safe&quot;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Approval not based on risk level is <\/span><b>Wasting collective time<\/b><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"3_Xu_ly_hoa_don_va_cong_no_mang_tinh_lap_lai_chua_chay\"><\/span><strong>3. Handling recurring invoices and accounts receivable, firefighting.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Token<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Many invoices were returned due to errors:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Supplier Information<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Unit price, tax rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Missing purchase order\/document<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Personnel spend many hours:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Check again<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Email exchange<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Manual adjustment<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b>Nature: <\/b><span style=\"font-weight: 400;\">Time is wasted because <\/span><b>system error<\/b><span style=\"font-weight: 400;\">It&#039;s not human error.<\/span><\/p>\n<p><b>CFO Warning<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Businesses are &quot;paying&quot; for <\/span><b>recurring error correction<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Each incorrect invoice = hidden cost + audit risk<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"4_Bao_cao_nhieu_nhung_quyet_dinh_it\"><\/span><strong>4. Lots of reports, few decisions.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Token<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Multiple Excel files, multiple versions<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reports are submitted regularly, but:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Rarely read<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Fewer actions taken<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The decision was still based on emotion.<\/span><\/li>\n<\/ul>\n<p><b>Nature: <\/b><span style=\"font-weight: 400;\">Time spent on <\/span><b>report production<\/b><span style=\"font-weight: 400;\">, Not <\/span><b>generating insights<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><b>CFO Warning<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reports that do not support decision-making = <\/span><b>Wasting collective time<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The CFO should ask: <\/span><i><span style=\"font-weight: 400;\">&quot;If we remove this report, will anyone be affected?&quot;<\/span><\/i><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"5_Thoi_gian_closing_keo_dai_phu_thuoc_nhieu_vao_con_nguoi\"><\/span><strong>5. The closing time is lengthy and highly dependent on human factors.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Token<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Month-end \/ year-end closing is stressful<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Data is scattered and difficult to reconcile.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Risk:<\/span>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Error<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Delayed reporting<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Dependent on key person<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b>Nature: <\/b><span style=\"font-weight: 400;\">The system is not good enough to <\/span><b>self-operating<\/b><span style=\"font-weight: 400;\">That must be compensated for by human time.<\/span><\/p>\n<p><b>CFO Warning<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Businesses are not yet ready to scale.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The time in finance was &quot;locked&quot; in the past, not looking to the future.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Nguyen_nhan_gay_lang_phi_thoi_gian_tai_cong_so_la_gi_va_vi_sao_%E2%80%9Cthay_doi_thoi_quen%E2%80%9D_chua_du\"><\/span><b>What are the causes of wasted time at the workplace, and why isn&#039;t simply &quot;changing habits&quot; enough?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The causes of wasted time typically stem from three layers: personal habits (lack of focus), organizational processes (cumbersome meetings\/approvals), and data technology (fragmented systems, manual data entry). If only the behavior is addressed without correcting the processes, the waste will return.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Lop_1_%E2%80%93_Thoi_quen_ca_nhan_bieu_hien_de_thay_nhat\"><\/span><strong>Grade 1 \u2013 Personal Habits (the most easily observable manifestation)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Token:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lack of focus, constantly switching tasks (context switching)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Delay due to unclear priorities.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Responsive work (responding to emails and messages)<\/span><\/li>\n<\/ul>\n<p><b>Why isn&#039;t changing habits enough?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Human <\/span><b>nature reacts to the environment<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If the environment requires: waiting for approval, asking for information multiple times, handling urgent tasks due to delays from others. <\/span><b>Good habits also wear down.<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Bad habits are often <\/span><b>symptom<\/b><span style=\"font-weight: 400;\">, is not the cause.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Lop_2_%E2%80%93_Quy_trinh_to_chuc_nguyen_nhan_cot_loi\"><\/span><strong>Level 2 \u2013 Organizational Processes (Core Causes)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>The biggest source of waste:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Many meetings, but no decisions were made.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Multi-tiered approval process, lack of clear SLA.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Overlapping roles and responsibilities<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The job is being rotated due to a lack of entry standards.<\/span><\/li>\n<\/ul>\n<p><b>A familiar example:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">&quot;Waiting for boss approval&quot; accounts for 40% of processing time.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The report was completed but had to be revised 3-4 times because there was no standard template.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Meetings were held to &quot;update on the situation&quot; rather than to make decisions.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">When the process is poor, <\/span><b>The harder the employees try, the more tired they become.<\/b><span style=\"font-weight: 400;\"> but the effectiveness did not increase.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Lop_3_%E2%80%93_Cong_nghe_du_lieu_ke_khuech_dai_lang_phi\"><\/span><strong>Grade 3 \u2013 Technology &amp; Data (the amplifier of waste)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Common problems:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Discrete system \u2192 repetitive input<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Excel, email, and chat are out of sync.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No real-time data \u2192 must ask \u2013 confirm \u2013 wait<\/span><\/li>\n<\/ul>\n<p><b>Consequences:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A simple decision takes days.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Employees are acting as &quot;data clerks&quot; instead of creating value.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Manual error \u2192 correction \u2192 additional time wasted<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The technology is not good. <\/span><b>amplifying all weaknesses of the process<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Wasted time at the workplace isn&#039;t due to &quot;undisciplined employees,&quot; but rather the result of a poorly designed system. Therefore, &quot;changing habits&quot; only touches the surface, not addressing the root cause. For sustainable time savings, businesses must design systems that make doing things right easy and doing them wrong difficult.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Quy_trinh_thu_cong_trong_ke_toan_%E2%80%93_tai_chinh_dan_den_lang_phi_thoi_gian_nhu_the_nao\"><\/span><b>How do manual processes in accounting and finance lead to wasted time?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Manual processes are wasteful as personnel have to repeatedly enter data, visually check, manually compare documents, and correct errors multiple times. Each &quot;touch&quot; increases the risk of errors, prolongs processing time, and increases costs. <a href=\"https:\/\/bizzi.vn\/5-chi-phi-nhan-su-vo-hinh-doanh-nghiep-can-cat-giam\/\">Personnel costs.<\/a><\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Nhap_lieu_thu_cong_%E2%86%92_lang_phi_ngay_tu_diem_xuat_phat\"><\/span><strong>Manual data entry \u2192 wasteful right from the start.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Symptoms:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Re-enter data from paper\/PDF invoices into Excel or ERP.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Copying between multiple files and systems<\/span><\/li>\n<\/ul>\n<p><b>Waste incurred:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Repeat data entry time<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Verification\/Inspection Time<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Time taken to correct typos<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A manually entered invoice can be costly. <\/span><b>3\u201310 minutes<\/b><span style=\"font-weight: 400;\">but minor errors can lead to problems. <\/span><b>hours of dealing with the aftermath<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Doi_soat_thu_cong_%E2%86%92_%E2%80%9Cnut_that_co_chai%E2%80%9D_vo_hinh\"><\/span><strong>Manual reconciliation \u2192 an invisible &quot;bottleneck&quot;<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Common examples:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">3-way matching (PO \u2013 GR \u2013 Invoice) done by hand<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reconcile accounts payable in Excel.<\/span><\/li>\n<\/ul>\n<p><b>Wasting time:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Find the file, find the email, ask another department.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Waiting for a response to confirm the discrepancy.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Stop the entire process because <\/span><b>a mismatched line<\/b><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Phe_duyet_thu_cong_%E2%86%92_thoi_gian_chet_nhieu_hon_thoi_gian_xu_ly\"><\/span><strong>Manual approval \u2192 more downtime than processing time<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Familiar signs:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Print a signed receipt.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Send email request for approval<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">I don&#039;t know where the file is &quot;stuck&quot;.<\/span><\/li>\n<\/ul>\n<p><b>The biggest waste:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Waiting time<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tracking time \u2013 reminders<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Bao_cao_thu_cong_%E2%86%92_lang_phi_tri_tue_chat_xam\"><\/span><span style=\"font-weight: 400;\">Manual reporting \u2192 waste of intellectual resources.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Reality:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Accountants download data, merge tables, and adjust formatting.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Each cycle starts from scratch.<\/span><\/li>\n<\/ul>\n<p><b>Consequences:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Finance personnel are working as &quot;data clerks&quot; instead of analysts.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">CFO receives reports late \u2192 decisions are delayed.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Sua_sai_thu_cong_%E2%86%92_lang_phi_day_chuyen\"><\/span><strong>Manual error correction \u2192 wasteful production line<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Chain of waste:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Incorrect input \u2192 late detection<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The document must be undone.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Impact on reporting, taxes, and audits.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A small error at the beginning of the process can multiply into a larger one. <\/span><b>many hours of processing at the end of the period<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Lang_phi_kho_do_nhung_rat_ton\"><\/span><strong>Waste is difficult to measure but very costly.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Besides the time wasted, manual processes also cause:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Stress and overload at the end of the semester.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Loss of motivation for talented employees.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Dependence on human resources \u2192 risk of employee turnover<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This is hidden waste, not visible in reports but clearly evident in operations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In short, time is wasted not because accountants are slow, but because the system forces them to work slowly. To save time, the solution is not to rush people, but to eliminate manual operations from the process.<\/span><\/p>\n<figure id=\"attachment_999979817\" aria-describedby=\"caption-attachment-999979817\" style=\"width: 836px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-999979817 size-full\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-2.avif\" alt=\"What is wasting time?\" width=\"836\" height=\"418\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-2.avif 836w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-2-300x150.jpg 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-2-768x384.jpg 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-2-18x9.jpg 18w\" sizes=\"(max-width: 836px) 100vw, 836px\" \/><figcaption id=\"caption-attachment-999979817\" class=\"wp-caption-text\">To save time, the solution isn&#039;t to rush people, but to eliminate manual operations from the process.<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Vi_sao_phe_duyet_da_cap_tao_bottleneck_va_lam_tang_%E2%80%9Cdecision_latency%E2%80%9D_trong_doanh_nghiep\"><\/span><b>Why does multi-level approval create a bottleneck and increase decision latency in businesses?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Multi-level approval processes create bottlenecks when decisions are delegated to a small number of people, lacking clear limits\/rules and relying on chat\/email. The consequences include increased waiting times, backlogs, delayed payments, and leaders being drawn into micromanagement instead of strategic decision-making.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The following analysis focuses on the operating mechanism, not just the symptoms.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Quyet_dinh_bi_don_len_it_nguoi_%E2%86%92_bottleneck_cau_truc\"><\/span><b>Decision-making is concentrated among a small number of people \u2192 structural bottleneck<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Mechanism of obstruction:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Every expenditure \u2013 however small \u2013 must be escalated to a higher level.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The approver becomes the &quot;single point of failure&quot;.<\/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;\">Dozens of small decisions are lined up waiting.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Strategic decisions are being interrupted by operational issues.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The bottleneck isn&#039;t about the number of steps, but about the lack of decisive flow control.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Thieu_han_muc_rule_%E2%86%92_phe_duyet_thay_cho_tu_duy\"><\/span><b>Lack of quotas and rules \u2192 approval instead of critical thinking.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">When:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Approval threshold (role-based limit)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The rule is clear: when to auto-approve, and when to escalate.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">What actually happened:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In every case, it&#039;s &quot;up to the boss to decide.&quot;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Approvals are subjective and inconsistent.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Businesses are outsourcing their thinking to their superiors.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Phu_thuoc_chat_email_%E2%86%92_decision_latency_tang_theo_cap_so_nhan\"><\/span><b>Dependence on chat\/email \u2192 decision latency increases exponentially.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Main problem:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">I don&#039;t know where the file is.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">There are no SLAs for each approval level.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No decision log<\/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;\">Short processing time<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Extremely long waiting time.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Decision latency = total response waiting time, not processing time.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Phe_duyet_tuan_tu_%E2%86%92_do_tre_cong_don\"><\/span><b>Sequential approval \u2192 cumulative delay<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Danger mechanism:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Level A approval is required before Level B approval is granted.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">One step slows down \u2192 the whole chain comes to a standstill.<\/span><\/li>\n<\/ul>\n<p><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;\">Each level is only &quot;busy for one day&quot;.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">4 levels of review \u2192 decision takes 4\u20135 days<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">This is linear latency; it doesn&#039;t generate additional value.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Lanh_dao_bi_keo_vao_vi_quan_ly\"><\/span><b>Leaders are drawn into micromanagement.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The opposite consequence:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Leaders take the time to review the details.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Limited time for strategy, high risk analysis.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Multi-level approvals are wasting the time of the most expensive person.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Tac_dong_day_chuyen_den_tai_chinh_van_hanh\"><\/span><strong>The ripple effect on finance and operations.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Late payments \u2192 loss of supplier&#039;s reputation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Miss out on early payment discounts!<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Pressure builds up at the end of the period \u2192 increased risk of errors<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Employees are &quot;chasing signatures&quot; instead of creating value.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">High decision latency isn&#039;t due to a lack of decision-makers, but rather to flawed decision design. Efficient businesses don&#039;t reduce control; they bring decisions to the right level, at the right time, and in the right context.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Nguyen_nhan_gay_lang_phi_thoi_gian_co_the_lam_tang_rui_ro_tai_chinh_va_gian_lan_noi_bo_nhu_the_nao\"><\/span><b>How can wasted time increase financial risk and internal fraud?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When processes are too slow, employees are more likely to create &quot;shortcuts&quot; such as sending documents via chat, making payments upfront and then supplementing later, or skipping verification steps. These &quot;shadow processes&quot; not only waste time (rework) but also increase the risk of errors and fraud due to a lack of traceability.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Below is a systematic explanation of the cause-and-effect mechanism.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Quy_trinh_cham_%E2%86%92_%E2%80%9Cduong_tat%E2%80%9D_xuat_hien_shadow_process\"><\/span><strong>Slow processes \u2192 \u201cshortcuts\u201d appear (shadow processes)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">When staff have to wait:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Approval takes too long.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Cumbersome reconciliation<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The system is not responding in time.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Behavior that arises:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Send documents via personal chat\/email.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Pay upfront, submit documents later.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Thanks to &quot;verbal approval,&quot; they reversed the process.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The shadow process is not due to intentional fraud from the outset, but rather to time pressure.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Shadow_process_%E2%86%92_mat_truy_vet_loss_of_audit_trail\"><\/span><strong>Shadow process \u2192 loss of audit trail<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The core issue:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No time log \u2013 reviewer \u2013 reason<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">There is no unified version of the profile.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The data is scattered across chats, emails, and personal files.<\/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;\">It is not possible to determine who is responsible.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It is difficult to detect systematic deviations.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Audits only see the &quot;results,&quot; not the &quot;process.&quot;<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Fraud thrives best when there is a lack of traceability, not when there is a lack of regulations.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bo_qua_buoc_kiem_soat_%E2%86%92_rui_ro_nhan_len_theo_cap_so\"><\/span><strong>Skipping the control step \u2192 risk multiplies exponentially.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Commonly skipped steps:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">3-way matching<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Check budget limits<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Verify supplier\/payment terms<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Risk chain:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Duplicate Payment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Incorrect unit price paid<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Invalid payment to supplier.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">One instance of &quot;flexibility&quot; can pave the way for intentional repetition of the behavior.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Rework_xu_ly_hau_qua_%E2%86%92_lang_phi_thoi_gian_thu_cap\"><\/span><strong>Rework and post-work cleanup \u2192 secondary waste of time.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>When errors are discovered late:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Undo the document<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Adjust the report.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Explanation to auditors\/tax authorities<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Business <\/span><b>I lost both money and time.<\/b><span style=\"font-weight: 400;\">, and moreover <\/span><b>loss of internal credibility<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Ap_luc_cuoi_ky_%E2%86%92_moi_truong_ly_tuong_cho_gian_lan\"><\/span><strong>End-of-term pressure \u2192 ideal environment for cheating<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">End of month \/ end of quarter:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Consolidate files<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Meeting deadlines<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Prioritize &quot;getting the job done&quot; over &quot;following the correct procedure.&quot;<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">\u00a0Cheating rarely happens when there&#039;s no work to do \u2013 it happens when there&#039;s too much work.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Tam_giac_gian_lan_Fraud_Triangle_bi_kich_hoat\"><\/span><strong>The Fraud Triangle has been triggered.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Wasting time contributes to creating all three of the following factors:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Pressure<\/b><span style=\"font-weight: 400;\">: delayed payments, pressure to meet deadlines<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Opportunity<\/b><span style=\"font-weight: 400;\">: The process is broken, lacking control.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Rationalization<\/b><span style=\"font-weight: 400;\">&quot;I&#039;ll do this temporarily to finish on time, and I&#039;ll add more later.&quot;<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Wasting time <\/span><b>not directly committing fraud<\/b><span style=\"font-weight: 400;\">, But <\/span><b>creating an ideal environment for fraud to occur.<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<figure id=\"attachment_999979818\" aria-describedby=\"caption-attachment-999979818\" style=\"width: 782px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"wp-image-999979818 size-full\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-3.avif\" alt=\"What is wasting time? 3\" width=\"782\" height=\"447\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-3.avif 782w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-3-300x171.jpg 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-3-768x439.jpg 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-3-18x10.jpg 18w\" sizes=\"(max-width: 782px) 100vw, 782px\" \/><figcaption id=\"caption-attachment-999979818\" class=\"wp-caption-text\">When processes are too slow, employees are prone to creating &quot;shortcuts&quot; such as sending documents via chat, paying upfront and then supplementing later, or skipping verification steps.<\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Lang_phi_thoi_gian_la_gi_va_anh_huong_den_dong_tien_qua_DSO_va_chi_phi_von_nhu_the_nao\"><\/span><b>What is wasted time and how does it affect cash flow through DSO and cost of capital?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">When debt collection is slow due to manual reminders or undisciplined debt aging tracking, the Date of Sale (DSO) increases and cash flow is delayed. This results in higher capital costs for the business (because it has to finance working capital), even though paper revenue remains unchanged.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Lang_phi_thoi_gian_lam_xau_dong_tien_qua_DSO_nhu_the_nao\"><\/span><strong>How does wasting time negatively impact cash flow through DSOs?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Slow debt collection process \u2192 Increased DSO (Debt Collection Order).<\/span><\/p>\n<p><b>Common sources of wasted time in AR:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tracking debt aging manually using Excel.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Debt collection is not on a standard schedule and depends on the individual.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Late-discovered invoice disputes<\/span><\/li>\n<\/ul>\n<p><b>Direct consequences:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The invoice arrived late to the customer.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reminding someone of a debt at the wrong time.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Overdue debts were not scalded in time.<\/span><\/li>\n<\/ul>\n<p><b>The increase in DSO is not due to bad customers, but because businesses are slow to react.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Increased DSO \u2192 working capital gets &quot;stuck&quot;<\/span><\/p>\n<p><b>Core formula: Capital Tie = Average Daily Revenue \u00d7 DSO<\/b><\/p>\n<p><span style=\"font-weight: 400;\">When DSO increases:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The money stays with the customer longer.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Businesses must self-finance their operations.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Delayed cash flow \u2192 increased cost of capital even though revenue remains unchanged.<\/span><\/p>\n<p><b>Businesses must:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Use cash reserves.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Or short-term loans\/overdrafts<\/span><\/li>\n<\/ul>\n<p><b>Additional costs incurred:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Interest<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Opportunity cost (not being able to invest)<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In the P&amp;L report, <\/span><b>No &quot;costs incurred by DSO&quot; are listed.<\/b><span style=\"font-weight: 400;\">, but it <\/span><b>erosion of real profits<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Wasting time in AR creates a negative spiral.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Late debt reminders \u2192 disputes \u2192 wasted time resolving<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Incomplete documentation \u2192 customer delays payment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Work accumulates at the end of the period \u2192 errors \u2192 further increase in DSO (Demand on Sales).<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"Lang_phi_thoi_gian_anh_huong_chi_phi_von_Cost_of_Capital_ra_sao\"><\/span><strong>How does wasted time affect the cost of capital?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Unstable cash flow \u2192 increased financial risk<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Large cash-in fluctuations<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">CFOs must maintain a high cash buffer.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Dependence on short-term capital<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Borrowing to cover working capital<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Missed out on early payment discounts.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Long-term impact on valuation<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Weak cash flow \u2192 High WACC<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Investors assess liquidity risk.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Cac_phuong_phap_quan_ly_thoi_gian_pho_bien_co_thuc_su_giam_lang_phi_thoi_gian_doanh_nghiep_khong\"><\/span><b>Do popular time management methods actually reduce wasted business time?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Pomodoro, Eisenhower, or to-do lists help individuals focus better, but they only address the &quot;symptoms&quot; when waste stems from processes and data. For businesses, it&#039;s necessary to combine personal techniques with standardized processes and tools to truly reduce waste.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Pomodoro\"><\/span><b>Pomodoro<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Help:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Increase personal focus<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduce distractions and procrastination.<\/span><\/li>\n<\/ul>\n<p><b>Unresolved:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Awaiting approval<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Insufficient input information<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The work was interrupted by someone else.<\/span><\/li>\n<\/ul>\n<figure id=\"attachment_999979815\" aria-describedby=\"caption-attachment-999979815\" style=\"width: 800px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-999979815 size-full\" src=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-.webp\" alt=\"What is wasting time?\" width=\"800\" height=\"559\" title=\"\" srcset=\"https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi-.webp 800w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi--300x210.webp 300w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi--768x537.webp 768w, https:\/\/bizzi.vn\/wp-content\/uploads\/2026\/01\/lang-phi-thoi-gian-la-gi--18x12.webp 18w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><figcaption id=\"caption-attachment-999979815\" class=\"wp-caption-text\">Pomodoro helps individuals focus better, but it only addresses the &quot;symptoms&quot; when waste stems from processes and data.<\/figcaption><\/figure>\n<h3><span class=\"ez-toc-section\" id=\"Eisenhower_Matrix_Quan_trong_%E2%80%93_Khan_cap\"><\/span><b>Eisenhower Matrix (Important \u2013 Urgent)<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Help:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Prioritize better jobs.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Avoid getting caught up in trivial matters.<\/span><\/li>\n<\/ul>\n<p><b>Unresolved:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The &quot;urgency&quot; is created by a slow system.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Work was delayed due to a process error.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"To-do_list_GTD\"><\/span><b>To-do list \/ GTD<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>Help:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduce memory load<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Track your personal progress<\/span><\/li>\n<\/ul>\n<p><b>Unresolved:<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Repetitive work due to lack of standardization<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rework due to data errors.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The job depends on others.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Despite the widespread implementation of Pomodoro, Eisenhower, and to-do lists, many businesses still <\/span><b>It fails to reduce wasted time in a substantial way.<\/b><span style=\"font-weight: 400;\">The reason lies in these methods. <\/span><b>touching personal behavior<\/b><span style=\"font-weight: 400;\">, while wasting time is beneficial. <\/span><b>It arises from how businesses operate their systems.<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In short, the widespread application of these methods <a href=\"https:\/\/bizzi.vn\/6-buoc-quan-ly-thoi-gian-du-an\/\">project time management<\/a> or individuals <\/span><b>They don&#039;t fail because they&#039;re wrong.<\/b><span style=\"font-weight: 400;\">because they are expected to solve a problem. <\/span><b>belongs to the system<\/b><span style=\"font-weight: 400;\">Until processes, data, and decision-making mechanisms are redesigned, any efforts to manage individual time will only benefit the business. <\/span><b>better at tolerating waste<\/b><span style=\"font-weight: 400;\">, rather than letting it go to waste and disappear.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Doanh_nghiep_nen_cat_lang_phi_thoi_gian_tu_dau_hoa_don_phe_duyet_chi_phi_hay_cong_no\"><\/span><b>Where should businesses cut wasted time: invoices, expense approvals, or accounts receivable?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If the goal is to generate ROI quickly by cutting wasted time, businesses shouldn&#039;t start with seemingly strategic processes that have little measurable data. Instead, they should target processes with three key characteristics: high volume, high repetition, and direct impact on costs and cash flow. The three areas that best meet these criteria are invoice processing (AP), expense approval, and accounts receivable management (AR).<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Vi_sao_day_la_cac_diem_tao_ROI_nhanh\"><\/span><b>Why are these points of interest that generate ROI quickly?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><b>First, large volume and high frequency: <\/b><span style=\"font-weight: 400;\">Invoices, expense requests, and accounts payable transactions arise daily and weekly. Each small task, if done manually, would add up to hundreds or thousands of hours of work per year. By simply reducing a few minutes per transaction, the total time saved is enough to see a clear ROI.<\/span><\/p>\n<p><b>Secondly, its high repeatability makes it very suitable for automation:<\/b><span style=\"font-weight: 400;\"> Steps such as entering invoices, reconciling purchase orders (PO-GR-Invoice), submitting approval requests, sending approval reminders, and reconciling accounts payable all follow relatively fixed rules. This is a type of &quot;mechanical&quot; waste, where technology and digital workflows can quickly replace humans without increasing risk.<\/span><\/p>\n<p><b>Thirdly, it directly impacts costs and cash flow.<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Delayed AP \u2192 late payments, lost discounts, wasted time processing exceptions.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Confusing expense approvals lead to uncontrolled expenses or a backlog of work at the end of the period.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Poor AR \u2192 High DSO, cash flow is tied up.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Cutting time here not only saves staff but also <\/span><b>Direct conversion to cash, lower costs, and better predictability of cash flow.<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Nen_uu_tien_theo_logic_nao_de_thay_hieu_qua_som\"><\/span><b>Which logic should be prioritized to see results sooner?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">If you have to prioritize tasks to generate ROI quickly, a common approach is:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Start with invoice processing (AP)<\/b><span style=\"font-weight: 400;\">: where data is clear, easy to measure before and after, and easy to normalize. Businesses often see immediate reductions in data entry time, errors, and outliers.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Next is cost approval.<\/b><span style=\"font-weight: 400;\">When the workflow is streamlined, waiting times are drastically reduced, allowing the entire AP\u2013AR chain to operate more smoothly.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Finally, there is accounts receivable management (AR).<\/b><span style=\"font-weight: 400;\">At this point, AR is optimized as a consequence, with DSO reduced thanks to invoices being issued correctly, completely, and quickly, and the approval process no longer experiencing bottlenecks.<\/span><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Tu_dong_hoa_xu_ly_hoa_don_va_doi_soat_3_chieu_giam_lang_phi_thoi_gian_nhu_the_nao\"><\/span><b>How does automating invoice processing and three-way reconciliation reduce wasted time?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Automated invoice processing and three-way reconciliation (Invoice \u2013 Purchase Order \u2013 Grand Finale) <\/span><b>It&#039;s not just about making it &quot;faster&quot;.<\/b><span style=\"font-weight: 400;\">, but <\/span><b>Cut the right out for the biggest time-wasting issues in AP.<\/b><span style=\"font-weight: 400;\">: Manual input, waiting, error correction, and reprocessing. The waste reduction mechanism occurs in three distinct layers.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Loai_bo_thoi_gian_nhap_lieu_thu_cong_%E2%80%93_nguon_lang_phi_hien_nhien_nhat\"><\/span><strong>1. Eliminate manual data entry time \u2013 the most obvious source of waste.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In the manual model, each invoice must:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Enter each line manually.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Check supplier information, purchase order number, unit price, and tax.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Correct any errors.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Automation (OCR + rule engine) helps:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Extract invoice data immediately upon receipt.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Standardize format, supplier code, and account.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Directly input data into the accounting\/ERP system.<\/span><\/li>\n<\/ul>\n<p><b>drastically reduce repetitive work hours.<\/b><span style=\"font-weight: 400;\">This also reduces human error \u2013 the cause of numerous subsequent repair cycles.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Chuyen_tu_%E2%80%9Cxu_ly_tat_ca%E2%80%9D_sang_%E2%80%9Cchi_xu_ly_ngoai_le%E2%80%9D\"><\/span><strong>2. Change from \u201chandle all\u201d to \u201chandle only exceptions\u201d<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The biggest difference with automation is not speed, but... <\/span><b>human attention distribution<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With automatic 3D verification:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Invoices matching PO &amp; GR within acceptable limits \u2192 automatically approved<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Only the bills <\/span><b>discrepancies in unit price, quantity, tax, and terms.<\/b><span style=\"font-weight: 400;\"> recently added to the exception queue.<\/span><\/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;\">AP personnel are no longer processing 100% invoices.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Focus time for <\/span><b>20\u201330% invoices carry real risk.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Significantly reducing &quot;peace of mind&quot; checks without adding value.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"3_Phat_hien_sai_lech_som_%E2%86%92_giam_rework_va_tranh_thanh_toan_sai\"><\/span><strong>3. Early detection of discrepancies \u2192 reduces rework and avoids incorrect payments.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Three-way reconciliation helps:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Discover the error as soon as the invoice arrives, don&#039;t wait until the payment deadline.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Prevent overpayments, duplicate payments, or payments that violate terms.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Avoid the rework chain: pay the invoice \u2013 adjust the purchase order \u2013 reconfirm the gross order \u2013 re-enter the data.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Compared to manual processing, where errors often only become apparent in the final step, 3-way matching <\/span><b>Block errors at the source.<\/b><span style=\"font-weight: 400;\">, help:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduce the number of reprocessing cycles.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Shorten billing cycle time.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduce conflicts with suppliers due to incorrect or delayed payments.<\/span><\/li>\n<\/ul>\n<h3><span class=\"ez-toc-section\" id=\"4_Tac_dong_truc_tiep_den_chi_phi_va_dong_tien\"><\/span><strong>4. Direct impact on costs and cash flow<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>When invoice processing time is reduced:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Paying on time \u2192 avoids penalties, maintains supplier reputation.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Proactively take advantage of early payment discounts.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Outflows can be predicted more accurately.<\/li>\n<\/ul>\n<p>ROI comes not just from personnel savings, but from real cash flow and lower risk.<\/p>\n<p>In summary, automated invoice processing combined with three-way reconciliation reduces wasted time by:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Eliminate manual data entry and verification.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Only pass exceptions for human handling.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Detect discrepancies early, reduce rework, and avoid incorrect payments.<\/li>\n<\/ul>\n<p>In other words, businesses aren&#039;t speeding up an old process, but redesigning it so that people only do value-added work.<\/p>\n<ul>\n<li><strong><em>See more content about workflow drawing software. <a href=\"https:\/\/bizzi.vn\/top-10-phan-mem-ve-quy-trinh-lam-viec\">here<\/a><\/em><\/strong><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Tu_dong_hoa_phe_duyet_chi_phi_giup_loai_bo_bottleneck_ma_van_kiem_soat_rui_ro_ra_sao\"><\/span><b>How does automated expense approval eliminate bottlenecks while still controlling risk?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Automating expense approvals isn&#039;t about &quot;getting it over with quickly,&quot; but about eliminating unvalue-adding waiting time while tightening risk control through rules and data. This mechanism can be seen through four layers.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Go_bottleneck_bang_tuyen_duyet_ro_rang_dung_nguoi_%E2%80%93_dung_cap_%E2%80%93_dung_thoi_diem\"><\/span><strong>1. Remove bottlenecks with a clear approval process: the right person \u2013 at the right level \u2013 at the right time.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>In manual modeling, bottlenecks typically stem from:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">It is unclear who has the authority to approve which expenditures.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">One person has to review too many types of expenses.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Unnecessarily going through too many levels of review just to be sure.<\/li>\n<\/ul>\n<p>Automation solves this by:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Define spending limits by role, department, and expense type.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Set up automatic browsing routes: within limit \u2192 fast browsing; exceeding limit \u2192 escalated.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Send your request directly to the person ultimately responsible, without intermediaries.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Waiting times have been drastically reduced because <\/span><b>No more asking - transferring - reminding<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Thay_kiem_soat_thu_cong_bang_kiem_soat_bang_quy_tac\"><\/span><strong>2. Replace manual control with rule-based control.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Instead of being controlled by the subjective feelings of the reviewer:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">&quot;Is this amount reasonable?&quot;<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">&quot;Did we exceed the budget?&quot;<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Automated system:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Compare costs with the approved budget.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Check if this type of expenditure is permitted.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Apply rules based on time, project, and cost center.<\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Reviewer <\/span><b>No need to check from the beginning.<\/b><span style=\"font-weight: 400;\">, and decisions are made only within a risk-filtered context.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Giam_rui_ro_bang_dau_vet_phe_duyet_va_kha_nang_truy_vet\"><\/span><strong>3. Reduce risk through approval traceability and tracking capabilities.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A common concern for CFOs is: <\/span><i><span style=\"font-weight: 400;\">&quot;Does going faster lead to a loss of control?&quot;<\/span><\/i><i><span style=\"font-weight: 400;\"><br \/>\n<\/span><\/i><span style=\"font-weight: 400;\"> In fact, automation helps control. <\/span><b>better<\/b><span style=\"font-weight: 400;\"> because:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Each browsing step has <\/span><b>timestamp, reviewer, review content<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No more browsing through chats and disjointed emails.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Easy to audit: who approves what, and based on which rules?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The risk of fraud and post-audit disputes has been significantly reduced.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Canh_bao_som_thay_vi_xu_ly_khi_da_qua_muon\"><\/span><strong>4. Early warning instead of dealing with it when it&#039;s too late.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">The automated approval system allows:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Warning <\/span><b>The budget was exceeded as soon as the request was created.<\/b><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Block or request clarification before submitting for review.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Real-time aggregation of spending data.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Businesses are shifting from <\/span><b>extinguish the fire after the expenditure<\/b><span style=\"font-weight: 400;\"> luxurious <\/span><b>Control before money leaves the account<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tu_dong_hoa_nhac_no_theo_kich_ban_giup_giam_lang_phi_thoi_gian_va_cai_thien_DSO_nhu_the_nao\"><\/span><b>How does automated debt reminder system reduce wasted time and improve DSO (Debt Service Order)?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Automated debt reminders based on scenarios not only replace the &quot;quick email&quot; method, but also redesign the entire way businesses track and collect payments, thereby cutting wasted time and directly impacting DSO (Demand Service Order). This mechanism creates value in four key areas.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Loai_bo_lang_phi_do_phu_thuoc_tri_nho_va_thao_tac_lap_lai\"><\/span><strong>1. Eliminate waste caused by reliance on memory and repetitive tasks.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Manual debt collection methods typically rely on:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Excel file for tracking debt aging.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">HR personnel remember the schedule for sending emails and making phone calls.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Copy and edit the same reminder content.<\/li>\n<\/ul>\n<p>The consequence is:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Remind late or forget to remind.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Inconsistent reminders among customers<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Many hours are wasted on operations that don&#039;t add value.<\/li>\n<\/ul>\n<p>Automation helps:<\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Schedule debt reminders in advance based on the age of the debt (pre-due, due, overdue).<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Automatically send emails\/notifications based on a script.<\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\">Regardless of individual circumstances or peak work times.<\/li>\n<\/ul>\n<p>AR time is freed from repetitive tasks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Nhac_dung_thoi_diem_%E2%80%93_yeu_to_then_chot_de_giam_DSO\"><\/span><strong>2. Reminding at the right time \u2013 a key factor in reducing DSO.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A debt was mentioned:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Paying ahead of schedule increases the probability of paying on time.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">On time \u2192 demonstrates professionalism<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">As soon as the deadline passes \u2192 reduces the risk of &quot;being forgotten&quot;.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Automation ensures:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Don&#039;t miss any important deadlines.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Remind them early and regularly, don&#039;t wait until they&#039;re long overdue.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Maintain pressure to collect payments. <\/span><i><span style=\"font-weight: 400;\">light but continuous<\/span><\/i><\/li>\n<\/ul>\n<p>The decrease in DSO (Debt Collection Order) was not due to coercion, but rather to disciplinary action regarding debt collection.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Theo_doi_phan_hoi_va_cap_nhat_tuoi_no_theo_thoi_gian_thuc\"><\/span><strong>3. Monitor responses and update debt aging in real time.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Unlike fragmented manual debt reminders, automated systems offer:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Record customer feedback (payments, appointments, disputes).<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Update <\/span><b>aging AR<\/b><span style=\"font-weight: 400;\"> as soon as there is a change<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Adjust the next reminder scenario based on the actual state.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">AR personnel <\/span><b>No need to review from the beginning.<\/b><span style=\"font-weight: 400;\"> each follow-up.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Tap_trung_nguon_luc_vao_khoan_no_%E2%80%9Cco_van_de%E2%80%9D\"><\/span><strong>4. Focus resources on &quot;problematic&quot; debt.<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">When debt reminders are automated:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">On-time payments almost &quot;flowed naturally&quot;.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">System only <\/span><b>Warning about upcoming or long overdue payments.<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Thanks to that:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The HR team focused on making phone calls and negotiating for difficult deals.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduce the processing time for debts that &quot;shouldn&#039;t need handling.&quot;<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">It saves both time and <\/span><b>increase the actual cash-in rate<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"FAQ_Cau_hoi_thuong_gap_ve_nguyen_nhan_lang_phi_thoi_gian_trong_doanh_nghiep_la_gi\"><\/span><b>FAQ: Frequently Asked Questions about the causes of wasted time in businesses.<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Below is a summary of answers to some common questions about time waste in businesses.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Lang_phi_thoi_gian_la_gi\"><\/span><b>What is wasting time?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Wasting time is <\/span><b>Time is wasted on activities that create little or no value.<\/b><span style=\"font-weight: 400;\">Waste often arises from manual processes, fragmented data, and slow approvals. In a business environment, waste should not be measured by the &quot;feeling of being busy&quot; but rather quantified through... <\/span><b>cycle time<\/b><span style=\"font-weight: 400;\">, <\/span><b>number of rework cycles<\/b><span style=\"font-weight: 400;\"> and <\/span><b>personnel costs<\/b><span style=\"font-weight: 400;\"> associated with each process.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Lam_sao_do_luong_lang_phi_thoi_gian_trong_phong_ke_toan\"><\/span><b>How can we measure wasted time in the accounting department?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">To accurately measure performance, businesses need to break down each process, such as invoice processing, expense approval, or accounts receivable reconciliation, and then track core metrics: <\/span><b>cycle time<\/b><span style=\"font-weight: 400;\">, <\/span><b>number of touches (touchpoints)<\/b><span style=\"font-weight: 400;\">, <\/span><b>rework hours<\/b><span style=\"font-weight: 400;\"> and <\/span><b>exception rate<\/b><span style=\"font-weight: 400;\">When converting these indicators into working hours and <a href=\"https:\/\/bizzi.vn\/chi-phi-van-hanh-la-gi\">operating costs<\/a> (OpEx), the CFO will be able to identify the bottlenecks that need priority improvement.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Quy_doi_thoi_gian_lang_phi_thanh_chi_phi_va_ROI_nhu_the_nao\"><\/span><b>How do you convert wasted time into costs and ROI?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<ul>\n<li><span style=\"font-weight: 400;\">Wasted time can be directly converted into cost using the following formula:<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span> <b>C\u208dwaste\u208e = H\u208dwaste\u208e \u00d7 Cost\u208dhour\u208e<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li><span style=\"font-weight: 400;\">ROI is calculated based on the difference between the benefits gained and the investment costs:<\/span><span style=\"font-weight: 400;\"><br \/>\n<\/span> <b>ROI = (Benefit \u2013 Cost) \/ Cost \u00d7 100%<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In there, <\/span><i><span style=\"font-weight: 400;\">Government<\/span><\/i><span style=\"font-weight: 400;\"> It comes not only from saved working hours, but also from <\/span><b>Reduce errors, minimize incorrect payments, and improve the speed of cash collection and disbursement.<\/b><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Vi_sao_ERP_van_gay_lang_phi_thoi_gian_trong_lap_ke_hoach_ngan_sach_va_du_bao\"><\/span><b>Why does ERP still waste time in budget planning and forecasting?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Even after implementing ERP, many businesses still spend a lot of time on budgeting and forecasting because <\/span><b>Fragmented data, slow updates, and reliance on manual Excel aggregation.<\/b><span style=\"font-weight: 400;\">The CFO and the FP&amp;A team must spend most of their time standardizing and consolidating data, rather than analyzing and making decisions.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Tu_dong_hoa_doi_soat_3_chieu_3-way_matching_giup_giam_lang_phi_o_AP_the_nao\"><\/span><b>How does 3-way matching automation reduce waste at APs?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Automated three-way reconciliation (Invoice \u2013 Purchase Order \u2013 Grand Finale) helps <\/span><b>Eliminate manual data entry and verification.<\/b><span style=\"font-weight: 400;\">, while only pushing incorrect cases to the exception handling stream. This \u201cexception-only\u201d approach reduces rework, shortens cycle time, and limits the risk of incorrect payments.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"DSO_cham_lien_quan_gi_den_lang_phi_thoi_gian_va_chi_phi_von\"><\/span><b>How does a slow DSO (Demand for Sale) relate to wasted time and capital costs?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">An increase in DSO means that <\/span><b>The money arrived late.<\/b><span style=\"font-weight: 400;\">This forces businesses to compensate for working capital shortfalls through borrowing or by sacrificing other investment opportunities. The underlying cause often stems from... <\/span><b>Manual debt tracking and reminders lack discipline.<\/b><span style=\"font-weight: 400;\">This makes collecting money dependent on individuals rather than the system.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"Lam_sao_giam_bottleneck_phe_duyet_ma_khong_tang_rui_ro_gian_lan\"><\/span><b>How can we reduce the approval bottleneck without increasing the risk of fraud?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The solution lies in establishing quotas and approval routes based on rules, combined with task separation (SoD) and approval trailing (audit trail). Automation doesn&#039;t reduce control, but shifts control from subjective to systemic, enabling faster approvals while still managing exceptions and fraud risks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"CFO_nen_uu_tien_cat_lang_phi_thoi_gian_o_khau_nao_truoc\"><\/span><b>Which areas should a CFO prioritize cutting wasted time in first?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>CFOs should prioritize high-volume, repetitive processes that directly impact cash flow, such as invoice processing, expense approval, and accounts receivable collection. These are the areas that deliver the quickest ROI by reducing labor hours, minimizing errors, and improving cash-in.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Bizzi_giup_doanh_nghiep_giam_lang_phi_thoi_gian_%E2%80%9Ctan_goc%E2%80%9D_nhu_the_nao\"><\/span><b>How does Bizzi help businesses eliminate wasted time at its root?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Bizzi addresses the root cause of waste by automating repetitive tasks in finance and accounting: bots process and reconcile invoices, digitize expense approvals, and automatically send debt reminders based on scenarios. As a result, businesses reduce cycle time, minimize rework, and mitigate cash flow delays.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ket_luan\"><\/span><strong>Conclude<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">What is the nature of wasted time? The cause of wasted time doesn&#039;t lie in &quot;slow employees,&quot; but in businesses letting people handle tasks that shouldn&#039;t require human intervention. This includes time wasted on repetitive data entry, waiting for approvals, correcting errors, manual reminders, and merging disparate data \u2013 activities that don&#039;t directly create value but silently erode costs, cash flow, and decision-making capabilities.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Businesses can only control it when:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">True to nature<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Accurately measured using cycle time.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Convert correctly to OpEx and ROI<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Address the root cause through process automation.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Platforms like Bizzi not only help businesses work faster, but also reduce the negative consequences of wasted time, including:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduce year-end pressure for the finance and accounting department.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduce the risk of incorrect, delayed, or duplicate payments.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduced DSO and cost of capital due to delayed cash inflows.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Free up CFO&#039;s time for strategic analysis and decision-making.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">By automating invoice processing, expense approvals, and debt reminders based on scenarios, Bizzi helps businesses cut waste at the system level, rather than requiring people to &quot;try harder.&quot;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">To receive personalized 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>L\u00e3ng ph\u00ed th\u1eddi gian kh\u00f4ng ch\u1ec9 l\u00e0 \u201cl\u01b0\u1eddi\u201d hay \u201cm\u1ea5t t\u1eadp trung\u201d, m\u00e0 th\u01b0\u1eddng l\u00e0 tri\u1ec7u ch\u1ee9ng c\u1ee7a quy tr\u00ecnh th\u1ee7 c\u00f4ng, d\u1eef li\u1ec7u ph\u00e2n&#8230;<\/p>","protected":false},"author":56,"featured_media":999979819,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[54],"tags":[],"class_list":["post-999979814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-so-tay-ke-toan"],"acf":[],"_links":{"self":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999979814","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=999979814"}],"version-history":[{"count":1,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999979814\/revisions"}],"predecessor-version":[{"id":999979820,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/posts\/999979814\/revisions\/999979820"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/media\/999979819"}],"wp:attachment":[{"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/media?parent=999979814"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/categories?post=999979814"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bizzi.vn\/en\/wp-json\/wp\/v2\/tags?post=999979814"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}