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SMEs Urged to Embrace Digital Transformation in Vietnam

The COVID-19 pandemic has sped up the process of digital transformation in businesses and has urged companies to consider their own resources and conditions to ensure and increase efficiency, according to a news report. For instance, workers at a construction site in Hanoi use FaceID on their smartphones to register their arrival at work making it faster and more convenient to clock on. In the logistics sector, the application of technology is growing as drivers use their smartphones to track routes and shipments.

A recent study showed that the participation of SMEs in Vietnam in the digital transformation process could contribute US$24-30 billion to the country’s GDP by 2024, and significantly help with post-pandemic recovery. According to the Vietnam Logistics Association, 50%-60% of logistics enterprises are applying technology in their operations. At Sai Gon Newport Corporation, the application of an advanced management system helped reduce the time shipments stayed at the port by 55% and reduce delivery time by 75%.

An industry analyst noted that digital transformation is an inevitable trend of enterprises, especially during the current pandemic. If enterprises were slow in digital transformation, they would face difficulties when competing with others, especially in the rapid international integration. Digital transformation is not simply buying software or technology. Enterprises must pay attention to their resources and conditions to ensure the efficient process of digital transformation.

Under the digital transformation programme during the 2021-25 period, the Ministry of Planning and Investment wants 100% of enterprises to receive training in digital transformation to enhance their digital awareness. Micro and small enterprises, despite accounting for 96.7% of the total number of enterprises in Vietnam, contributed 40% to the country’s gross domestic product (GDP) and provided 60% of jobs. However, due to their limited budgets, they had not benefited much from the digital transformation, the report said.

Digital transformation solution providers often paid more attention to government agencies and medium and large enterprises that had a greater budget and were often located in major cities. Nguyen Van Khoa, CEO of FPT, said that there were about five million household businesses in Vietnam who were also subject to digital transformation at different levels. Statistics have revealed that 50% of SMEs went bankrupt in the first five years and 90% in the next five years, stressing that the competition would be much fiercer in the digital transformation.

Digital transformation is accelerating the transition to a digital economy, which is enabling enterprises to develop platforms to promote their operation and business. It is more convenient for big enterprises to digitally transform because they have their own ecosystems while SMEs do not have a budget to digitise their operations.

The government aims to be in the top 40 performers in the Global Innovation Index (GII), the top 30 in the International Telecommunication Union (ITU)’s Global Cybersecurity Index (GCI), and the top 50 in the United Nations’ e-Government Development Index (EGDI) by 2030.

The country also aims to raise the proportion of the digital economy in national GDP to 30% and boost productivity by 7.5% annually on average. Other targets for digital transformation are to achieve universal access to fibre-optic internet and 5G services; complete digital government development; and establish smart cities in key economic zones as well as connect with regional and global networks of smart cities.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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