return icon

Digital transformation cannot be achieved overnight

The Covid-19 pandemic has accelerated digital transformation, forcing businesses to adapt quickly even though they are not ready for it.

Not having to queue to take a roll call every day, workers at a construction site in Hanoi use their smartphones to scan their faces from a management app. Timekeeping by FaceID on mobile phones has replaced traditional timekeeping forms to help monitor workers in real time and manage construction sites remotely.

In fact, construction site management has been digitally deployed by many businesses on mobile applications. However, many businesses just apply the form of reporting through photos and papers, and workers still have to be present directly to handle suddenly arising tasks. The cost of office administrative formalities also lies in the business process with too many papers, records, applications, and equipment for printing and storing information.

Đổ tiền mua phần mềm, 1 đêm thành chuyển đổi số: Đừng có mơ

The digital transformation races. (Photo: LVN)



In the field of logistics, the use of technology application 4.0 for shippers and vehicle owners is in great demand. Many drivers are accustomed to using cellphones to track roads and send daily work reports.

According to the Vietnam Association of Logistics Service Enterprises, Vietnamese logistics enterprises are providing from two to 17 different logistics services, mainly delivery, transportation, warehousing, express delivery and customs declaration. Some 50-60% of businesses are applying different types of technology, depending on the size and nature of their services.

The effectiveness of IT application in logistics has been proven in practice. For example, the Saigon New Port Company, after successfully applying advanced production management programs, has reduced the leisure time of ships by 55%, 3/4 of freight forwarding time, and 60% of cases of labor and traffic unsafety.

Similarly, the Vietnam Post Corporation is building a Vmap mapping platform and a real-time database on location, address data, and code assignment of addresses to households.

Digital transformation must be quick

Digital transformation is a trend among local businesses, especially during the Covid-19 pandemic. Mr. Vu Tuan Anh, Deputy General Director of Dr SME, said that without digital transformation, Vietnamese firms will lose a lot when competing with national and international brands.

"Digital transformation is imperative, but performing digital transformation is not just buying an application or technology to use, but it is considering resources and the conditions of each business," Tuan Anh said.

Đổ tiền mua phần mềm, 1 đêm thành chuyển đổi số: Đừng có mơ

Businesses look to digital transformation. (Photo: D.A)



Mr. Nguyen Hoa Binh, Chairman of NextTech Group, pointed out that SMEs (small and medium enterprises) and micro-SMEs account for 96.7% of the number of Vietnamese enterprises, contribute 40% of GDP, and create 60% of jobs. But they do not benefit much from digital transformation due to their low budgets and fragmentation. Digital transformation solution providers often focus more on the Government sector and large and medium enterprises with higher budgets located in big cities.

Tuan Anh said that digital transformation technologies such as cloud computing are available in corporate governance solutions in Vietnam, which have been researched and developed by Vietnamese organizations. This is an important advantage if local businesses are truly determined to transform.

Mr. Dang Quang Vu, Chief Technology Officer of FastWork, commented that most Vietnamese employees now use smartphones so that digital transformation is easy to perform from the lowest level.

Mr. Dinh Minh Quan, CEO of FastWork, said that thanks to digital transformation, the corporate governance system will become simpler, and more seamless, transparent and efficient. Managers and employees can simultaneously approve, coordinate and exchange jobs on a single platform.

Quan noted that there is no digital transformation solution that "fits" all types of businesses. Digital transformation solutions must be developed based on demand and existing problems.

Economist Vo Tri Thanh mentioned three lessons for success in digital transformation, including: Think big, act specifically, act drastically from small, innovative, highly diffuse things; deeply combine digital transformation with business development strategy; and consider leaders as pioneers in digital transformation.

Bao An

Race for digital transformation: now or never

Race for digital transformation: now or never

The rules of the game in the future will be "quick fish eats slow fish". Even “giants,” without timely performing digital transformation, may lose ground to “rookies” that are young and agile in the 4.0 technological revolution.

Covid-19 and digital transformation

Covid-19 and digital transformation

Digital transformation is keeping life going but in a ‘new normal’ state.



Industrial, logistics property attractive to investors: Savills

Big U.S. businesses to explore opportunities in Vietnam

Major U.S. companies will come to Vietnam to sound out investment and trade opportunities in the Southeast Asian nation beginning today, March 21 to March 23, the local media reported.

Traders' frauds cause losses to Dalat's strawberry farmers

Farmers in the Central Highlands city of Dalat are complaining about losses as local traders are selling Chinese strawberries under the Dalat brand name.

Vietnam sets up working group to fight smuggling by air

The Ministry of Finance has just signed a decision to establish a working group to fight against smuggling by air.


Hanoi Tourism Festival 2023 takes place this week

Agricultural authorities draft plan to grow one million hectares of low-carbon rice

Twelve out of 13 provinces in the region have signed up for the plan. They have committed to reaching 200,000 ha next year, 719,000 ha in 2025, and over one million ha in 2030.

Top check-in places in Hai Phong

About 120 km from Hanoi’s center, Hai Phong is a famous port city and tourist destination in the North. The city’s symbol is a phoenix flower so it is known as the "red phoenix flower city".

Silicon Valley Bank collapse not to impact VN: VinaCapital

The Silicon Valley Bank (SVB) collapse by itself will end up being neutral for Viet Nam’s stock market and economy, Michael Kokalari, chief economist at investment fund VinaCapital, has said in a report.

Careful consideration of special consumption tax on sugary drinks urged

Enterprises urge careful consideration to be given to the Ministry of Finance’s proposal to impose a special consumption tax on sugary drinks to ensure harmonisation of benefits between the State, consumers and producers.

VN pharma companies urged to invest in R&D, improve competitiveness

It is critical for pharmaceutical companies to improve competitiveness with a focus on research and development (R&D), production technology and digitalisation.

Bamboo Airways finds a new investor

A representative of Bamboo Airways confirmed that the airline had found a new investor to replace the old shareholders, former Chairman Trinh Van Quyet and other related shareholders.

Quang Ninh to have another airport on Co To Island

Co To Island, about 170 kilometers from Hanoi, has great potential for sea and island tourism.

Da Nang has new IT park

Deputy Prime Minister Tran Hong Ha has signed a decision recognizing the FPT office complex in Danang City as a concentrated information technology park.

Doctors have to work 10 years at public hospitals before earning US$400 a month

Many young doctors don’t return to the hospitals which fund their study after finishing their training courses. They leave for private hospitals where they can expect higher pay.

Real estate firms resume issuing bonds

Real estate businesses have issued nearly VND12 trillion worth of corporate bonds since Government Decree 08 came into effect on March 6.