“Our story” is a series of articles that present Viettonkin’s attempt in assisting clients to achieve their target. Our case study will help you understand how we work, how we help clients solve their problems in the most professional way.
CallCo, a technology-enabled global business service company, is a subsidiary of a California-based Fortune Global 500 corporation. Today, CallCo is known as one of the most giant companies with a presence in over 125 countries and more than 200,000 employees worldwide. Focusing on BPO (Business Process Outsourcing), the company provides services namely customer service, flight reservations, hotel booking, travel assurance and holiday packages with a view to enhancing customer engagement and improving business performance for the best brands in the world.
In early 2017, CallCo made a decision to set up a venture in Vietnam and later to Indonesia and Thailand. Thanks to the establishment of local entities with local shareholders and directors, CallCo was able to acquire the entity using a holding structure in Netherland later on. This strategic plan is important for CallCo to become a part of a global footprint.
CallCo had a Philippine-based center, however, Vietnam seems to be a perfect fit for the business expansion. Vietnam has enormous advantages of a huge labour force, a high-growth consumer market, and dynamic youngsters who are willing to learn and spend more. Therefore, establishing a business venture in Vietnam is capable of helping CallCo attract key clients with a massive number of transactions.
How does Viettonkin help CallCo set up a venture in Vietnam?
In order to penetrate into such a multi-faceted market like Vietnam, CallCo needed an experienced consultant who could provide in-depth advice and one-stop solutions to make the procedure of penetration become quick and flawless.
After six months of extensive due diligence by CallCo’s global leaders and regional headquarter in India, Viettonkin was appointed as the consulting firm being in charge of all issues in terms of legal, accounting and payroll.
Viettonkin conducted the legal procedure of establishing CallCo Vietnam (including the appointment of a local director) then directed the acquisition process (which took 04-05 months as call center services were restricted for foreign investors) to turn CallCo Vietnam into 100% foreign-owned company under CallCo Global Holding. Besides CallCo Vietnam, the Viettonkin’s Indonesia team would also help CallCo establish an Incorporation based in Jakarta.
Nearly one year of setting up CallCo Vietnam, the result was beyond expectation. Viettonkin continued to be chosen as a reliable consultant in aiding CallCo to establish its second entity in Vietnam which specialized in debt management and collection services. Vietnam has strict regulations about debt collection especially for foreign investors, hence on behalf of CallCo, Viettonkin dealt with local stakeholders including the local police department and others with a view to ensuring the success of the company incorporation and acquisition process. Then the second entity was successfully set up and has been running smoothly.
Today, CallCo and Viettonkin are maintaining a harmonious partnership and discussing a lot of future business projects within and beyond Vietnam. Viettonkin’s top managers usually travel to the regional headquarter to have a discussion on upcoming projects.
If you would like to have a consulting service of setting up a company in Vietnam, you can read How To Set Up a Joint Venture In Vietnam to acquire basic knowledge and leave us your message so that our experts can connect with you and discuss on your plan.
The partnership of CallCo and Viettonkin has cherished a great collaboration in business and generated amazing results, win-win achievements. Viettonkin shall become a representative consultant of CallCo in Southeast Asia to assist the company in entering new markets as well as building relationships with large regional corporations. The story of Viettonkin, a medium-sized consulting firm in Vietnam, and CallCo, a top-tier global MNC has proved that regardless of who you are, whether a local company, you are able to make big results and collaborate with world-level firms.