English
Global economic conditions that have become increasingly unstable recently have caused many companies, including those in Indonesia, to experience financial shocks. In the start-up industry, for example, referring to data from the Indonesian Joint Funding Fintech Association (AFPI), there have been 23 companies that have carried out mass layoffs (PHK) until mid-2023.
Some companies collapsed because they failed to anticipate this external impact early. On the other hand, some companies appear to be very agile and resilient in facing the current global recession. The company carried out a spin-off from the parent business so that it is more focused on the market and can eventually grow swiftly.
Head of Corporate Finance - BDO in Indonesia, Ariston Sujoto said, “Spin-off is the right strategy for companies so they are not increasingly burdened with their financial expenses. Aside from being an efficiency measure, spin-offs are also a powerful way to develop new businesses that are considered more prospective.”
This is reasonable, because through a spin-off, a new entity or company with new management and resources is born. With separation, the new company can focus more on products, services, be independent, be more productive and not burden the main business.
"Spin-offs can also narrow the flow of a company's business chain so that securities analysis will clearly be more focused and company developments can be predicted more accurately," Ariston said in Jakarta.
Ariston revealed, at the global level there are many companies that do spin-offs well. Among them is the industry giant 3M.Co, which is releasing its health care and food safety business units in 2022-2023. Likewise, IBM is doing a spin-off because it focuses on the cloud computing and artificial intelligence (AI) business units, which are its mainstay.
According to Ariston, through this separation several business challenges such as the still low market share of the flagship unit can continue to be optimally boosted. Another advantage of the spin-off is also being able to increase shareholder value, expand business areas and reduce taxes.
Ariston assessed that many entrepreneurs are not fully aware of the conditions, challenges and business opportunities. In the midst of high inflation and this uncertain global situation, efficiency is a wise move, but if it's not done properly it can backfire. “Companies should be able to gain big profits by looking at new niches, they may even be stumped because debt suddenly piles up or they just become spectators. This is where it is important for companies to restructure their finances properly," he explained.
The next challenge in preparing for the acceleration of the spin-off is the expertise and professionals needed by the new spin-off company. Arina Marldiyah, Managing Director of BDO in Indonesia's Human Capital & Training division revealed that human resources are one of the most important assets of an organization.
According to Arina, the preparation of human resources in the spin-off process must be thought out early and in a mature and comprehensive manner. This is important because spin-offs not only create new businesses, but also new leaders, employees, goals, values and work culture. In preparing human resources, for example, the strategy must be right. The process can start from mapping employees, shifting employees to new units, determining which employees need upskilling or development, and which positions need new people to fill the needs of the new organizational structure. The principle is The Right Man on The Right Place at The Right Time. Another thing that must also be considered is the need for a good communication strategy so that all structures in this new business can be harmoniously orchestrated. Communication strategy and leadership alignment must be properly designed so that trust can be built in the face of resistance or concern as the effect of a change in management.
Head of Advisory - BDO in Indonesia, Thano Tanubrata added, apart from rearranging the financial and HR aspect, another effective step that companies can take at this time is to streamline technology. If this strategy is carried out correctly, Thano is optimistic that the company will remain agile in the midst of a fairly fragile global economic situation.
“There are many efficiency strategies that can be implemented. Based on the experience of the BDO Advisory team, many companies are actually growing well and prospectively through the use of IT (information and technology)," said Thano.
Thano explained, BDO's financial services are very focused on knowledge and expertise. This advantage is supported by BDO's long experience in restructuring hundreds of companies around the world. "As one of the largest networks of public accounting, tax, consulting and business advisory firms in the world, BDO is committed to providing comprehensive services to companies so that they get proper guidance on managing their finances, have added value and are reliable in the midst of intense competition," he said.
“BDO has comprehensive spin-off services and approaches, from spin-off advisory, spin-off preparation, spin-off execution to post transaction advisory. Through this service standard, we want to provide overall advisory to the downstream stage, namely helping companies complete transaction processing documents, including certain precedents," he concluded.(*)
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Indonesian Language
Kondisi ekonomi global yang kian tak stabil hingga saat ini banyak membuat perusahaan termasuk di Indonesia mengalami guncangan keuangan. Di industri start up misalnya, merujuk data Asosiasi Fintech Pendanaan bersama Indonesia (AFPI), sudah ada 23 perusahaan yang melakukan pemutusan hubungan kerja (PHK) massal hingga medio 2023 ini.
Tak sedikit pula perusahaan yang akhirnya kolaps gara-gara gagal mengantisipasi dini dampak eksternal ini. Di sisi lain, sebagian perusahaan justru tampak begitu lincah dan tangguh menghadapi badai resesi global saat ini. Perusahaan tersebut melakukan pemisahan (spin-off) dari usaha induk sehingga lebih fokus terhadap pasar dan akhirnya bisa tumbuh lebih pesat.
Head of Corporate Finance – BDO di Indonesia, Ariston Sujoto mengatakan, spin-off adalah strategi tepat bagi perusahaan agar tidak kian terbebani dengan pengeluaran keuangannya. Selain sebagai langkah efisiensi, spin-off juga menjadi jurus ampuh untuk mengembangkan bisnis baru yang dianggap lebih prospektif.
Hal itu beralasan, sebab lewat spin-off, maka melahirkan entitas atau perusahaan baru dengan manajemen serta sumber daya yang juga baru. Dengan pemisahan, maka perusahaan baru bisa lebih fokus dalam produk, layanan, mandiri, semakin produktif serta tidak membebani bisnis induk.
“Spin-off juga bisa mempersempit alur rangkaian bisnis sebuah perusahaan. Sehingga analisis sekuritas jelas akan lebih terfokus dan perkembangan perusahaan bisa diprediksi lebih akurat,” Ariston di Jakarta.
Ariston mengungkapkan, di level global ada banyak perusahaan yang melakukan spin-off dengan baik. Di antaranya raksasa industri 3M.Co yang melepaskan unit bisnis perawatan kesehatan dan keamanan pangan pada 2022-2023 ini. Demikian juga IBM yang melakukan spin-off karena berfokus pada unit bisnis komputasi cloud dan kecerdasan buatan (AI) yang jadi andalannya.
Menurut Ariston, lewat pemisahan ini beberapa tantangan bisnis seperti masih rendahnya pangsa pasar (market share) unit andalan itu bisa terus digenjot dengan optimal. Keuntungan lain dari spin-off juga mampu meningkatkan nilai pemegang saham, memperluas bidang bisnis dan mengurangi pajak.
Ariston menilai, banyak pengusaha tidak menyadari akan kondisi, tantangan dan peluang bisnis secara komprehensif. Di tengah inflasi yang tinggi dan situasi global tak menentu ini, efisiensi adalah langkah bijak, namun jika itu tidak dilakukan dengan tepat justru bisa jadi bumerang. “Mestinya perusahaan bisa meraih untung besar dengan melihat ceruk baru, bisa jadi malah buntung karena utang tiba-tiba menumpuk atau sekadar menjadi penonton saja. Di sinilah pentingnya perusahaan merestrukturisasi finansialnya dengan tepat,” terangnya.
Tantangan selanjutnya dalam mempersiapkan percepatan spin-off adalah tenaga-tenaga ahli dan profesional yang dibutuhkan perusahaan baru hasil spin-off. Arina Marldiyah, Managing Director dari Divisi Human Capital & Training BDO di Indonesia mengungkapkan bahwa sumber daya manusia adalah salah satu aset yang paling penting dari sebuah organisasi.
Menurut Arina, penyiapan sumber daya manusia dalam proses spin-off harus dipikirkan sejak dini, matang dan komprehensif. Ini penting karena spin-off tak sekadar memunculkan bisnis baru, namun juga leader, pegawai, goals, value dan budaya kerja yang baru pula. Pada penyiapan SDM misalnya, strateginya harus tepat. Mulai dari pemetaan karyawan, mana yang harus bergeser ke unit baru, mana yang di-upskilling atau development, dan mana posisi yang perlu orang baru untuk mengisi kebutuhan pada struktur organisasi baru. Prinsipnya The Right Man on The Right Place at The Right Time. Yang juga harus diperhatikan adalah perlunya strategi komunikasi yang baik agar seluruh struktur dalam bisnis baru ini mampu terorkestrasi dengan harmonis. Communication Strategy and leadership alignment harus dirancang dengan tepat agar terbangun trust dalam menghadapi resistensi atau kekhawatiran efek dari adanya perubahan manajemen.
Head of Advisory – BDO di Indonesia,Thano Tanubrata menambahkan, selain menata ulang kondisi keuangan dan SDM, langkah efektif lain yang bisa dilakukan perusahaan saat ini adalah dengan mengefisiensi teknologi. Jika strategi ini dilakukan dengan tepat, Thano optimistis perusahaan akan tetap lincah di tengah situasi ekonomi global yang cukup rapuh.
“Ada banyak strategi efisiensi yang bisa dilakukan. Pengalaman tim Advisory BDO, banyak perusahaan yang justru kian tumbuh sehat dan prospektif melalui penghematan di jalur teknologi ini seperti pemanfaatan IT (information and technology),” terang Thano.
Thano menjelaskan, layanan keuangan BDO sangat menitikberatkan pada pengetahuan dan keahlian. Keunggulan ini ditopang dengan pengalaman panjang BDO dalam melakukan restrukturisasi ratusan perusahaan di seluruh dunia. “Sebagai salah satu jaringan perusahaan akuntansi publik, pajak, konsultasi, dan penasihat bisnis terbesar di dunia, BDO berkomitmen untuk memberikan pelayanan secara totalitas kepada perusahaan agar mendapat panduan tepat mengelola keuangan, memiliki nilai tambah serta andal di tengah kompetisi yang ketat,” ujarnya.
“BDO memiliki layanan dan pendekatan spin-off secara komprehensif, dari spin-off advisory, spin-off preparation, spin-off execution hingga post transaction advisory. Lewat standar layanan ini kami ingin memberikan advisory secara menyeluruh hingga tahapan hilir yakni membantu perusahaan melengkapi dokumen proses transaksi termasuk dalam preseden tertentu,” tutupnya.
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