Sustainability in Governance and Economic Dimension
Corporate governance is one of the key components of sustainable development. The Company has established a corporate governance structure consisting of a board of directors, management team, and internal departments appropriate to the size of the business to ensure its effective corporate governance. This will result in both inside and outside stakeholders of the organization who have confidence in the organization and are ready to support the Company’s business operations for stable and sustainable growth, being able to generate returns and create additional value for shareholders. Therefore, the factors that must be important in managing corporate governance and economic sustainability are as follows:
Risk Management
The Company recognizes the importance of risk management by implementing Risk Management policies to cover all risks of the organization. Risk issues, potential impacts, and the possibility of events happening are thoroughly identified. The risk issues will be revised where the problems tend to occur and prioritize the risk management plan. Therefore, the Management reports the results of risk management to the Risk Management Committee every quarter, to revise and evaluate the risk management of each issue that may occur.
The Company also revised the exposure guidelines for single clients and single customers (buyers) based on risk tolerance and the Company’s annual profit to manage the risk sustainably.
In addition, the Company engages internal auditors from AMC International Consulting Co., Ltd. to review the operations and internal control of each department, to ensure the effectiveness and efficiency of the systems of the Company. Moreover, they review the operations procedures of each department and report directly to the Audit Committee.
Digital Development
The Company recognizes the necessity of adapting to the rapid change in the business environment and technological landscape by exploring, selecting, and applying appropriate new technologies to enhance operational efficiency and respond to clients’ needs in a timely, comprehensive, and more convenient manner. Accordingly, the Company focuses on conducting its business through a Digital Factoring Platform to expand channels and options for accessing funding for SMEs. Using Digital Invoice, clients are able to apply for financing more efficiently, which helps reduce operational procedures, shorten the credit consideration process, and enable customers to receive financial liquidity in a timely manner, in line with the needs of business operations in the digital era.
Cybersecurity Management
The Company places the utmost importance on maintaining the security of information systems and organizational data, recognizing that business development alongside technological advancement inevitably comes with cybersecurity risks that may affect operations, reputation, and critical information. Accordingly, the Company has established systematic cybersecurity management guidelines and measures that comprehensively cover prevention, detection, and response to potential cybersecurity incidents.
The Company has implemented data access control measures, encrypted critical information, and conducted regular security assessments of its systems. In addition, the Company has established a Cybersecurity Incident Management Policy to ensure efficient incident response and system recovery. The Company also continuously enhances employees’ knowledge and awareness of cybersecurity to mitigate risks arising from social engineering threats and emerging forms of cyber threats. All cybersecurity measures are regularly reviewed, improved, and assessed for effectiveness to ensure that the Company’s operations remain secure, transparent, and reliable, thereby reinforcing confidence among clients, business partners, and all groups of stakeholders.
Corporate Governance and Code of Conduct
The Company recognizes the importance of corporate governance by setting corporate governance policies to implement corporate governance to be in line with its objectives, defined goals, and direction of the organization, including business ethics that cover various policies of the company to be used as guidelines for conducting business with transparency and fairness to all groups of stakeholders i.e. the anti-corruption policy, fraudulence/corruption prevention policy, conflict of interest policy, etc., including channels for receiving complaints, whistleblowing and measures to protect those who make complaints or report the clues.
The Company has also established clear, transparent, and easily accessible channels for receiving complaints and whistleblowing reports, along with appropriate measures to protect complainants and whistleblowers from retaliation or any adverse consequences. This aims to foster confidence and encourage stakeholder participation in promoting good corporate governance tangibly and effectively.
Data Protection and Information Security
The Company places importance on information security, privacy, and the protection of personal data of clients, business partners, and stakeholders. The Company has put in place appropriate policies, procedures, and internal control measures to manage and safeguard personal data in accordance with applicable laws and relevant standards to mitigate risks relating to unauthorized access, use, disclosure, or other unlawful processing of personal data.
In this regard, the Company has established written policies and practices on personal data protection in compliance with the Personal Data Protection Act B.E. 2562 (2019) (the “PDPA”). Such policies are disclosed on the Company’s website (www.ifscapthai.com/th/privacy-notice) and apply to corporate clients, shareholders, directors, as well as recruitment processes, to ensure that stakeholders are informed of their rights and the Company’s personal data protection measures, thereby supporting confidence in the Company’s business operations.
In conducting its business, the Company carefully considers the collection, use, or disclosure of personal data on an appropriate and necessary basis and in accordance with lawful purposes. The Company has also established internal policies, procedures, and control measures to prevent unauthorized access, use, or disclosure of personal data and to enhance the effectiveness of its corporate governance framework.
Furthermore, in compliance with the PDPA, the Company has established a personal data protection working team and appointed a Data Protection Officer (“the DPO”). The DPO is responsible for overseeing, providing advice on, and monitoring the Company’s operations relating to the collection, use, and disclosure of personal data, as well as guiding clients, employees, and relevant stakeholders to prevent personal data breaches and mitigate legal risks.