Vietnamese enterprises to boost digital transformation

ABO/VNA - Increasing profit a few hundred percent, saving billions of dollars in technology costs, operating complex data systems in real time, transforming appropriate business models, improving operational efficiency and personalising customer experience on large-scale digital platforms at fast speed were the benefits of digital transformation, said Dr. Phuong Tram, FPT head consultant on digital transformation and former DuPont CIO at a seminar in Hanoi this week.

Overview of the event (Photo: VNA)

Digital transformation in organisations and businesses is the process of changing from traditional models to digital enterprises by applying new technologies such as Big Data, the Internet of Things (IoT) and cloud computing.

It also changes operation and leadership methods, working processes and corporate culture.

Digital transformation brings many benefits such as cutting operating costs, reaching more customers in a shorter time, quicker and more accurate decisions thanks to timely reporting systems, thereby enhancing the operational efficiency and competitiveness of organisations and businesses.

"Digital transformation", "business model breakthrough" and "digital business" are not only topics discussed at global economic forums, but have attracted large tech firms to build platforms such as Google, AWS and Apple.

 

According to an IDG report last year on multinational corporations and billion-dollar businesses and organisations, 90 percent had planned, developed and deployed digital transformation.

Thirty-two percent of CIOs and IT managers said digital transformation had helped their businesses grow strongly and brought large profits.

 

CIOs of major corporations world selected digital transformation as one of the top three issues that needed to be considered by enterprises in the era of a technological boom.

 

From practical experience, Dr. Phuong Tram said that digital transformation brought great value to businesses, but results could be derived from small digital initiatives, which could be completed within three to six months.

 

The Vietnamese Government had been preparing for both opportunities and challenges brought by the rapid and strong development of the digital economy across the globe, according to Mai Tien Dung, Minister and Chairman of the Government Office.

 

Dung said in a letter sent to the seminar that the Government had realised opportunities would arise and had developed policies to construct the country’s IT sector and e-government system in efforts to boost socio-economic development.

 

“Prime Minister Nguyen Xuan Phuc thinks the development of a digital, smart economy is the key task for the country’s economic restructuring process, which must prioritise the enhancement of productivity, quality, efficiency and competitiveness,” he said.

 

Truong Gia Binh, FPT chairman, said that digital transformation brought FPT new and bigger opportunities in the information technology world because the market was large and open.

 

This strategy brought dual value while both improving the value and role of FPT and creating great value for businesses accompanying FPT in digital transformation, he said.

 

“Working with global corporations around the world in recent years, we have found that 100 percent of them have taken digital initiatives,” Binh added.

 

Also at the seminar, FPT outlined the group’s digital transformation strategy and its ambition to become a leading digital transformation enterprise in the next 10 years.

 

With the capacity and experience of implementing digital transformation for leading corporations and the consultation of Dr. Phuong Tram, FPT would transform into a digital enterprise this year, which operates based on near - real time data, improving labour productivity and strong growth rate by innovating and applying 4.0 technologies such as artificial intelligence, Big Data and Chatbot in the group’s activities.

 

(Source: VNA)