Mid-2023 Management Report

26 June 2023 @ Starbucks Susco square

Executive Summary

GIPSIC faced a huge challenge ever

Root causes has been analyzed including lack of team management / business process or poor estimation.

Some action has been taken to confront the problems

We did a big move to lean the organization, reduced cost, and cut off no-return investment.

Big amount of debt occur after the crisis

We need to manage and prioritize the order and importance of them to minimize the cost of capital.

There's a new normal and some number we are proud to reveal.

We do our best to survive the crisis, it sets new way of working and it seems to work evidenced by half-year performance.

Opportunities are raining down to us

Connections we have lead many opportunities to us but we have limited resource and capability, so the well-analyzed decision need to be made and that need advise from Board of Directors.

What happened in 2022

Reach 11 Members

In order to reassure customers that we have enough people to handle the work.

Finally 7 Members

There've been resignations & new members recruited for future projects.

4.00M Revenue

Started selling solutions that involve hardware, and received a significant amount of projects from CPN.

6.28M Expense

The majority of the funds are allocated towards office rent and employee salaries.

What did we do

What happened in 2022

Bigger team in wrong time

The expansion of the team and workplace without proper preparation is a major factor contributing to significantly higher expenses.

One man show

Lack of business workflow and team management results in project failure.

Wrong estimation

The team is unable to deliver the work at all.

2,000,000 thb fine

1,440,802.70 thb fine

Total Fine : 3,440,802.70 THB

What happened in 2022

0 K
0 K
0 M
0 K
0 K
Nutnicha's Dad
0 K
wisit's friends

Total Debt : 4,305,500 THB

What happened in 2022

How we address them

Too large team -> Laid off 4 employees = 110,000 THB/m. saved

Due to the company's lack of projects and insufficient revenue to cover expenses, it was necessary to lay off employees in positions that were unable to generate income.

Need to pay for laying off = 229,676 THB in Total

To terminate the employment of 4 individuals, we are required to provide them with compensation that is determined based on the duration of their tenure with our company.

Too expensive workplace -> Moved the office to Co-Working Space
= 100,000 THB/m. saved

Due to the high and oversized office rental expenses, we have decided to relocate the office to a new location.

Excessive office equipment -> Sold the office equipment.
= 155,251 THB revenue

Due to the excessive amount of office equipment and insufficient storage space in the new office, we have decided to sell the office equipment.

What we are doing...

Get project from the network "P'Ko" CEO of Konsys

Get a call from N'Pat while having launch with team @ SukiShi on 6th Jan to migrate Synphaet's website.

Learn all the skill we don't have from "Senestia"

After getting new website project from Senestia, they are recruiting Senior Software Engineer, Wisit was sent into interview process and got a deal of 7500THB/day. out-sourcing contract till end of Aug 2023. Not only the constant revenue, joining the Senestia team give us the opportunity to learn from then in all aspect of what software company should do e.g. team management, project planning, recruiting process, and much more. Moreover, we got many new-field extra project from there too.

Complete all CPN on-going project and get away...

There're some pending project with CPN to complete and get paid then we have to end business with them due to the penalty regulation. However that's just what should be officially, in fact, we still have a good, even not strong as it was, relationship with the staff team to feed more project to us indirectly via the nominees.

Expanding the business network to acquire new projects

Many relationship from the past works are giving its return ! With the shinning skill of GIPSIC team and flexibility that makes partners feel comfy to work with, bring us many opportunities...

GIPSIC numbers : First-half 2023

0 K
0 K
0 K
0 M
Central Pattana
0 K
Cloud & Hosting
0 K

Total Earnings : 3,139,251 THB

0 M
Quotation Confirmed
0 K
Outsource Contract
0 M
Leads & Opportunities

GIPSIC numbers : First-half 2023

580 K
300 K
1.08 M
479 K
400 K
Nutnicha's Dad
195.5 K
wisit's friends

Total Debt :



GIPSIC numbers : First-half 2023

Central Pattana
VGI One : 4Plus

Total Fine :



229676 THB
Compensation Left
100000 ฿/m
221225 ฿/m

GIPSIC New Power

Network Connection

Ko, Nattawut Sudprasert

CEO, Founder of Konsys & Senestia. Software house companies leverage strong connection with big name of financial & healthcare.

Diw, Pasin Junchusri

CEO, Founder of Konsys & Senestia. Software house companies leverage strong connection with big name of financial & healthcare.

Chan, Chanvadee Wattasanti

Head of sale of ChillPay, a fast grown payment provider in Thailand. Leading a project that need custom integration with ChillPay.

F, Government Lobbyist

A strong connection middle man, deal in the Government organization's projects. Introduced to us by ChillPay.
Can expect 1 or 2 small projects from him this year.

New Business Partners

New-field Portfolio

Second-half Goal

+ All compensations are paid.

Remaining debt : target

270 K
1.01 M
66.5 K
0 K
0 K
1197 M
KKP loan

+ No more delayed projects.

+ Financial liquidity > 300,000 THB

0 M
to complete
0 M
required To reach goal
0 K
Get confirmed for 2024

And if possible, clear VGI's 4Plus fine of

1,400,000 THB

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