What strategic direction to help businesses innovate in the future?

What strategic direction to help businesses innovate in the future?

The pandemic pushes businesses to digitalize faster. That is the common opinion of businesses at the Vietnam – Asia Digital Transformation Summit 2022 during on May 25.

According to Mr. Nguyen Xuan Hoang, Vice Chairman of the Committee for Digital Transformation of Small and Medium Enterprises (SMEs) under the Vietnam Software and Information Technology Services Association (VINASA), as of December 2020, Vietnam has more than 811,000 enterprises. SMEs account for 98.1% of the total number of enterprises in Vietnam, employ 70% of the labor force and contribute up to 45% of GDP. 

Vietnam has been talking about digital transformation since 2018. To date, digital transformation has become a popular concept, a hot issue from high-level agendas to people’s everyday stories. However, a survey by VINASA shows that 69% of surveyed businesses do not know which partner to choose to implement digital transformation, 72% do not know where to start, 92% do not know how to digital transformation. 

Mr. Le Vu Minh, Director of FPT Digital Innovation and Strategy Consulting Division, informed about digital transformation in enterprises at the forum. 

Digital transformation is one of the key solutions to help SMEs go from surviving to breaking through the COVID-19 pandemic. In order to support businesses in digital transformation, especially small and medium-sized enterprises, VINASA has established an expert council to develop a Digital Transformation Framework for SMEs, including nearly 40 experts who are senior leaders of various industries. Technology enterprises are leading in digital transformation. 

The Council has selected and grouped experts according to practical experience in implementing Digital Transformation for each industry, combining practical experience, current situation and development trends of each industry, and refer to the reference model. According to the projection, 26 fields have been selected to build the digital transformation framework most suitable for Vietnam’s SMEs. Accordingly, all documents are publicly released and completely free on the website www.dx4sme.vn. SMEs can download documents for research and can directly register to connect and request in-depth advice on the website. 

Mr. Le Vu Minh, Director of Strategy and Innovation Consulting Division of FPT Digital shared, In fact, in the past 2 years, the COVID-19 epidemic has accelerated the speed of digital transformation of businesses. In Vietnam, there are many advantages to accelerate digital transformation, especially in a city where 85% of the population uses smartphones – ready to access technology, services and products of businesses in the digital environment. 

Visit and experience digital transformation applications. 

“We all know that applying information technology (IT) to digital transformation will help businesses optimize, improve productivity, and save costs. However, that is the original approach. In fact, today, large enterprises in the world approach digital transformation as a strategic direction that must be taken to be able to maintain sustainable development in the future. Through technology, units will overcome the geographical distance, connecting with partners in the ecosystem is much more convenient. With the participation of IT units and associations such as VINASA, the development of products and services for digital transformation is also very diverse, suitable for businesses from large to small, expanding access opportunities” said Mr. Le Vu Minh.

“Even as the digital transformation in FPT has taken place strongly, we have had 72 digital transformation programs at the group’s member companies, 62 implementation programs have been brought to life, tested by the result is more than 500 billion VND from the program of digital transformation, improving productivity, saving costs, creating new business models that create value for the group,” said Mr. Le Vu Minh. 

Sharing about digital transformation, many business representatives wondered how to implement the digital transformation program. From the implementation experience in the past 2 years, experts in this field believe that, first of all, businesses have to assess the current state of technology application to identify strengths and weaknesses to identify strengths and weaknesses, then determine the items that need to be focused and focused on in the short term and in the long term. Above all, to succeed in digital transformation, there mua st be determination from the leadership team and the head of the unit. 

Source: Newspapers 

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