New thoughts and actions for businesses to accelerate digital transformation

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Forum: Digital transformation in enterprises: New thoughts and actions.
Forum: Digital transformation in enterprises: New thoughts and actions.

Speaking at the forum "Digital transformation in enterprises: New thoughts and actions" organised by Business Forum Magazine in collaboration with the Institute of Enterprise Informatics and the Vietnam Federation of Trade and Industry (VCCI) on December 28, Hoang Quang Phong, Vice Chairman of VCCI said that digital transformation was an inevitable trend, contributing to promoting economic growth, improving labour productivity, competitiveness, production, and business efficiency, and reducing product costs, administrative procedures, time, and costs for businesses.

Phong said Vietnamese enterprises, especially small and medium units, have been interested in digital transformation and have achieved many successes. However, in reality, many businesses have not paid attention to the depth of digital transformation. The depth of digital transformation is to assess an enterprise's digital transformation level in detail according to scientific and clear criteria to build appropriate changes, strategies, and development plans.

More specifically, Nguyen Thi Thu Giang, Vice President of the Vietnam Software and IT Services Association (VINASA), said that digital transformation in businesses must go through three stages.

The first stage is digitising the database and business operations and bringing the enterprise's data to the digital environment. In the second stage, software solutions will be applied to transform some areas and activities of enterprises from digitised data. On that basis, enterprises carry out the third stage, which is the digital transformation of all business activities

However, this expert recognised that the challenges in businesses' digital transformation involve several issues, such as businesses must come up with their problems before deciding on digital transformation; they must provide solutions, software and services suitable to their type of operation; and they must have security operations on the digital environment.

Sharing business experiences at the forum, Tran Duc Quyet, Partner Development Director of Coc Coc Coc Co., Ltd., said that in the digital transformation process, digital businesses were an important and indispensable component of digital users. According to a survey by Coc Coc, up to 62% of users of this generation are using multiple devices with different roles, such as phones and computers. Additionally, up to 47% of digital users shop online and make non-cash payments. Therefore, businesses need to have the plan to reach digital users in this space.

Meanwhile, Bui Hai Ha, Director of the IT Center of FPT Digital Retail JSC, said that FPT Long Chau was the first enterprise with more than 1,000 pharmacies nationwide in 63 provinces and cities. Therefore, the company has built the best sales tool for pharmacists to reach customers' requirements as quickly as possible.

Similarly, Le Hong Quang, Permanent Deputy General Director of MISA JSC, said that small and medium enterprises needed to pay attention to three criteria: easy to access, cheap, and fast to see results. In addition, they need to actively approach the digital transformation scale of the Ministry of Information and Communications, rely on digital transformation frameworks to choose what businesses want to do, and choose reputable suppliers.

Along with changing the mindset of businesses, mechanisms and policies also need to create more favourable conditions. According to Nguyen Trong Duong, a digital transformation expert Ministry of Information and Communications, during the implementation of supporting the application of digital technology supporting the digital transformation for businesses, it is still challenging to identify the capital that enterprises must contribute and funding from the State to support in the procedures for making and paying support funding. As a result, enterprises still have to carry out many cumbersome and complicated procedures to receive the State's support funding, while the amount of this support is not much.

He also said that the mobilisation of resources from domestic and foreign organisations to support digital transformation for small and medium-sized enterprises was being distributed and fragmented.

Within the framework of the forum, Business Forum Magazine, in collaboration with digital transformation experts from the Ministry of Information and Communications and the Institute of Enterprise Informatics, announced the vote for some typical Digital Platform Enterprises and Digital Transformation Enterprises in 2022. The program will be held annually to encourage the business community to promote digital transformation in the future further.

By Huong Diu/ Ha Thanh

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