Hanoi (VNS/VNA) -Increasing profit a few hundred percent, saving billions of dollars intechnology costs, operating complex data systems in real time, transformingappropriate business models, improving operational efficiency and personalisingcustomer experience on large-scale digital platforms at fast speed were thebenefits of digital transformation, said Dr. Phuong Tram, FPT head consultanton digital transformation and former DuPont CIO at a seminar in Hanoi thisweek.

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

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

Digital transformation brings manybenefits such as cutting operating costs, reaching more customers in a shortertime, quicker and more accurate decisions thanks to timely reporting systems,thereby enhancing the operational efficiency and competitiveness oforganisations and businesses.

"Digital transformation","business model breakthrough" and "digital business" arenot only topics discussed at global economic forums, but have attracted largetech firms to build platforms such as Google, AWS and Apple.

According to an IDG report last year onmultinational corporations and billion-dollar businesses and organisations, 90 percenthad planned, developed and deployed digital transformation.

Thirty-two percent of CIOs and ITmanagers said digital transformation had helped their businesses grow stronglyand brought large profits.
CIOs of major corporations worldselected digital transformation as one of the top three issues that needed tobe considered by enterprises in the era of a technological boom.

From practical experience, Dr. PhuongTram said that digital transformation brought great value to businesses, butresults could be derived from small digital initiatives, which could becompleted within three to six months.

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

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

“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 andcompetitiveness,” he said.

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

This strategy brought dual value whileboth improving the value and role of FPT and creating great value forbusinesses accompanying FPT in digital transformation, he said.

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

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

With the capacity and experience ofimplementing digital transformation for leading corporations and theconsultation of Dr. Phuong Tram, FPT would transform into a digital enterprisethis year, which operates based on near - real time data, improving labourproductivity and strong growth rate by innovating and applying 4.0 technologiessuch as artificial intelligence, Big Data and Chatbot in the group’sactivities.-VNS/VNA