Digital transformation in businesses

A view of the seminar on digital transformation in businesses. Photo: PHAN VINH

Digital thinking

Opening the seminar, Mr. Hoang Dang Vinh - Founder of the reporting platform and CTO of Network Da Nang - stated that while digital transformation was a vague concept 3-4 years ago, recently, the definitions and understanding of this term have expanded and deepened. This is because reality proves that many large businesses that did not pay attention to digital transformation have begun to enter a period of decline, experiencing a drop in business performance.

Start-up businesses are beginning to apply digital transformation and digital technology to their business operations. Photo: PHAN VINH

"Previously, they didn't seriously apply the concept of data digitization in their businesses. They relied on their personal experience and expertise to manage their operations. This is a huge gap for any business, regardless of size, when it doesn't use data to measure and evaluate processes and work efficiency. This becomes an enormous challenge when businesses face the digital transformation of the entire political and social system. Many businesses today still lack a digital mindset and, naturally, have no foundation or basis for digital transformation," Mr. Vinh said.

According to Mr. Tran Xuan Tan, before considering digital transformation, businesses need to review their management processes and digitize their data. (Photo: Phan Vinh)

Sharing the same viewpoint as Mr. Hoang Dang Vinh, Mr. Tran Xuan Tan - a digital transformation expert and director of Fastdo Digital Management Co., Ltd. - shared that, from another perspective, many small and micro-enterprises have standardized their operational processes. They are very meticulous in digitizing their data. These businesses are very clear about "what I do, why I am successful, and what my formula for success is." They document these standardized processes so that finding a supporting tool will be easier.

"That's why, before implementing digital transformation, I often advise businesses not to rush into using applications but to have a digital mindset first. From there, they can review their processes, answer questions about where the effectiveness or failure comes from, what data, and what processes generate that data. Transforming operational processes, or more simply, modifying the business model, is not something that happens overnight but must be done in small steps," Mr. Tan said.

Leverage resources

According to Mr. Vinh, developed countries around the world, especially China, are currently digitizing everything. From startups with just a few employees initially, businesses have experienced explosive growth in scale thanks to investments in digital transformation. In Vietnam, Vatgia.com, which started with only 18 employees, has grown to 1,000 employees after two years of digitalization. However, generally speaking, the digital transformation process requires each business to leverage resources, especially those within the business itself. Optimizing processes is crucial to effectively apply digital transformation to achieve desired results.

Learning from the successful digital transformation practices abroad is a key focus for Vietnamese businesses. (Photo: PHAN VINH)

Mr. Tan believes that in business management, there are terms like leadership and driving change. Many businesses want to digitize, but they don't do it thoroughly and haven't truly demonstrated a commitment to change.

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We must experiment, correct mistakes, apply new methods, set goals and hypotheses to test the results, and then identify problems and solutions to make adjustments for greater effectiveness. That is the key to digital transformation, not just applying software and hoping to create something new for the business.

Mr. Tran Xuan Tan

Businesses need to leverage their internal strengths to promote and apply digital transformation as an effective way to boost efficiency. Photo: PHAN VINH

Mr. Nguyen Minh Nam, Vice Chairman of the People's Committee of Tam Ky City, stated that the city's leadership is paying close attention to the issue of digital transformation, especially the digital economy in businesses. Tam Ky City aims for the digital economy to account for 20% of its digital transformation targets by 2025. In recent years, activities related to digital transformation in businesses and startup projects in the city have begun to show deep application and yield many positive results.

Mr. Nguyen Minh Nam, Vice Chairman of the People's Committee of Tam Ky City, believes that businesses need to utilize various resources to enhance their digital transformation capabilities. Photo: PHAN VINH

"The leaders of Tam Ky City are ready to support businesses in their digital transformation activities. Although businesses currently face many difficulties regarding investment costs, this is an essential method for survival before even thinking about breakthroughs."

"In the current complex economic situation, businesses should leverage support resources from themselves, partners, customers, and local authorities to actively digitize their businesses and undergo digital transformation in their production and business processes, especially in the areas of marketing, sales, and financial management..." - Mr. Nam added.

Source: https://baoquangnam.vn/chuyen-doi-so-trong-doanh-nghiep-tu-duy-va-hanh-dong-3142601.html