In the current issue of FACES, we're excited to have Duc Tran, NET2GRID’s Head of Finance, with us. Duc brings over 11 years of extensive experience in finance, having held key roles at renowned multinational companies like KPMG, EY, and DNV. His academic journey is equally impressive as he holds an MBA with distinction from the TIAS School for Business and Society—one of Europe's most prestigious business schools—and a bachelor’s degree in Auditing from the University of Economics Ho Chi Minh City.
Originally from Vietnam, Duc has worked in diverse professional environments, which has given him the opportunity to gain a multicultural perspective. In this interview, we’ll explore Duc’s professional journey, his contributions to NET2GRID, and how his global experiences have shaped his approach to finance.
1. In the past, you have worked with multinational companies and high-profile firms like KPMG and EY. How has this experience shaped your approach to managing financial operations at NET2GRID?
My experience with these organizations has equipped me with the highest level of professionalism and also a deep understanding of how large corporations effectively manage their financial operations. In addition, the exposure to diverse industries, cultures, and business models from these high-profile multinational companies develops my flexible mindset to adapt quickly to the changing environments of a fast-growing and dynamic company like NET2GRID. It has significantly helped me to elevate NET2GRID’s financial operations to the next level.
2. Coming from Vietnam and now living in the Netherlands, how has your multicultural background influenced your approach to leadership and teamwork at NET2GRID?
My multicultural background has taught me the importance of embracing diverse perspectives and fostering an environment where all team members feel valued. For example, during my first week at NET2GRID, I initiated bi-weekly Finance team meetings to share my vision, address challenges, and actively encourage input from the team. Later on, such meetings became a standard for other teams across the organization. This approach has helped us to build strong, collaborative teams at NET2GRID, where everyone feels heard and valued, which ultimately leads to better decision-making.
3. Since joining NET2GRID, you've led several significant initiatives, such as transitioning Enterprise Resource Planning (ERP) systems and enhancing financial processes. Can you share a project that you’re particularly proud of and how this has impacted the company?
The project that I’m most proud of is the implementation of a new ERP system. This was a significant challenge given our limited resources and tight deadline while such projects typically require a dedicated team of at least six people over a period of six months or more. I led the entire process, from building the business case and selecting the appropriate platform to managing data migration and training the finance, logistic and sales team on the new system. The timing presented an additional challenge, as it overlapped with our final audit and another major project requiring my involvement. However, upgrading the ERP system was both urgent and essential at that time. NET2GRID had already experienced rapid growth and was expanding into the U.S while our legacy system was no longer able to keep pace and adequately support our operations. The new ERP system has significantly improved our financial processes, enhancing accuracy, accelerating reporting, streamlining workflows, reducing manual tasks, and improving cross-functional collaboration across the company.
4. Financially speaking, what are the growing pains that startups face when scaling up?
Cash flow management is a key focus for startups transitioning into scale-ups. This is vital for the sustainability and growth of scale-ups. Managing the delicate balance between investing for growth and maintaining financial health is one of the core challenges that many scale-ups must navigate during this crucial phase.
5. NET2GRID is known for its innovative approach in the energy and IT sectors. What do you think makes NET2GRID a strong contender for continued growth?
Over the years, NET2GRID has developed highly cost-efficient and accurate real-time data solutions based on our largest ground truth datasets in the market. This focus has resulted in an impressive growth rate in Annualized Recurring Revenue, an important KPI of SaaS companies. Additionally, securing key U.S. contracts last year has unlocked significant new opportunities for our business. Establishing a foothold in the U.S. market is an achievement that remains a considerable challenge for many competitors. Given these factors, I am confident that NET2GRID will continue to experience accelerated growth in the coming years.
6. Having worked in international professional environments, what’s the most surprising or amusing cultural difference you’ve encountered in the workplace? Could you share a fun incident?
Before joining NET2GRID, I was the Head of Financial Planning and Analysis for a business line of DNV. While the entire finance team was based in Barcelona, Spain, I was working remotely from the Netherlands. I wasn't aware that, usually, in Spain, people have lunch at around 14:00, instead of, let’s say at 12:00, which is the typical lunchtime in the Netherlands. As a result, I once scheduled a Teams meeting with a colleague at 14:15. To my surprise, my colleague joined the meeting, still swallowing the last bite of his lunch, as he had rushed to wrap up his meal in time for our call. Needless to say, I apologized for the poorly timed meeting and promptly noted that the 14:00-15:00 slot is sacred lunchtime when working with Spanish colleagues!
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