Digital transformation in business

Scene of the seminar on digital transformation in enterprises. Photo: PHAN VINH

Digital thinking

Opening the discussion, Mr. Hoang Dang Vinh - Founder of the reporting platform - CTO Network Da Nang said that if digital transformation was a vague concept 3-4 years ago, recently, the definitions and understanding of this phrase have been expanded and deepened, because reality has proven that many large enterprises that do not care about digital transformation have begun to enter a period of decline, with declining business performance.

Startups are starting to apply digital transformation and digital technology to their business operations. Photo: PHAN VINH

"Previously, they did not seriously apply the story of digital data in the business. They applied their personal experiences and experiences to their work. This is a huge gap for any business, whether small or medium-sized, when they do not use data to measure and evaluate work processes and efficiency. This problem becomes an extremely big challenge when businesses are facing the digital transformation of the entire political and social system. Most businesses today still do not have a digital mindset and of course, there is no foundation or basis for digital transformation" - Mr. Vinh said.

Mr. Tran Xuan Tan said that before thinking about digital transformation, businesses need to review their data management and digitization processes. Photo: PHAN VINH

Sharing the same opinion with Mr. Hoang Dang Vinh, Mr. Tran Xuan Tan - digital transformation expert, director of Fastdo Digital Management Company Limited shared that, from another perspective, there are still many small and micro enterprises that have standardized their operating processes. They are very meticulous in the issue of digitizing data. Those enterprises are very clear in the story of "what I do business, why I do business effectively, what is my formula for success". They record those standard processes so that when looking for a support tool, it will be easier.

"That's why before digital transformation, I often advise businesses not to rush into using applications but to have a digital mindset first. From there, review the process, answer the questions of where the effectiveness or failure comes from, what data, what process produces that data. Transforming the operating process or more simply, modifying the business model is not something that can be done overnight but in small steps" - Mr. Tan said.

Leverage resources

According to Mr. Vinh, currently, in developed countries around the world, especially China, everything is digitalized. From startups with only a few employees at first, but thanks to investment in digital transformation, businesses have exploded in scale. In Vietnam, Vatgia.com when it was established had only 18 employees, after 2 years of digitalization it has grown to 1,000 employees. However, in general, in the digital transformation process, each business must take advantage of resources, especially resources from the business itself. Only by optimizing the process can we know how to apply digital transformation to achieve the desired number.

Learning from the effectiveness of digital transformation abroad is of interest to Vietnamese businesses. Photo: PHAN VINH

Mr. Tan believes that in business administration, there will be the term leadership, leading change. There are many businesses that want to digitize, but do not do it thoroughly and have not really shown the determination to change.

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We have to experiment, correct mistakes, apply new methods, try to set goals and hypotheses to verify the results, then propose problems and solutions to edit to become more and more effective. 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 exploit 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 Tam Ky City People's Committee said that the issue of digital transformation and especially the digital economy in enterprises has been given attention by the city's leaders. Tam Ky City determined that by 2025, the digital economy will account for 20% of the digital transformation target. In recent years, activities related to digital transformation of enterprises and start-up projects in the city have begun to have deep applications, bringing many positive effects.

Mr. Nguyen Minh Nam - Vice Chairman of Tam Ky City People's Committee said that businesses need to take advantage of many resources to promote digital transformation capacity. Photo: PHAN VINH

"The leaders of Tam Ky City are ready to accompany and support businesses in digital transformation activities. Although in the current situation, businesses still face many difficulties in investment costs, this is an inevitable way to survive before thinking about a breakthrough.

In the complicated economic situation, businesses should take advantage of support resources from themselves, partners, customers and local authorities to actively digitize businesses and digitally transform production and business processes, especially in the fields 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