Digital transformation business: Strategy is long-term but implementation must start with short steps

DNVN - Sharing at the CEO Forum with the topic "Business development strategy in a world of great transformation", on the afternoon of January 25, expert Le Hong Quang - Permanent Deputy General Director of MISA Joint Stock Company said that digital transformation enterprises need to determine that the strategy is long-term but implementation must start from short steps.

According to expert Le Hong Quang, digital transformation of enterprises requires changes from thinking to implementation.

“In the process of helping businesses improve productivity and operational efficiency through technology, especially small and medium-sized enterprises, we affirm that without digital transformation, businesses will find it difficult to survive. Because competitors of businesses are making technological changes to launch new products and form other ways to solve problems for customers,” said Mr. Quang.

Mr. Quang gave an example, Rang Dong Joint Stock Company is considered a model in digital transformation. This company has digitized solutions into smart lighting products, thus, the business develops sustainably.

Expert Le Hong Quang - Permanent Deputy General Director of MISA Joint Stock Company .

Explaining what is the mindset of a business in digital transformation, according to Mr. Quang, businesses must have the right perception of digitalization. Normally, we do not understand enough about digital transformation.

That is to understand digitalization in part, but businesses must know how to apply information technology to operations. More broadly, businesses must apply digital technology to change operating processes to create products.

This is a comprehensive process, through the application of digital technology to comprehensively change the process and operation of the business. Thereby, bringing new value to customers. Specifically, serving customers faster, providing customers with smarter product solutions. Interacting with customers better.

In particular, online access will help businesses reach a larger number of customers. Customer service response will be faster.

This process also helps businesses speed up operations, improve efficiency and productivity. Coordination between departments is smoother. Another important thing is that if you do not create a modern environment, it will be very difficult to attract talent to work for the business.

“In the picture of digital transformation, few businesses are out of the picture. It’s just that businesses are at this stage in digital transformation (partial, comprehensive or have achieved high results). The trend of discussing digital transformation is very much, proving its importance to businesses,” said Mr. Quang.

Regarding the actual digital transformation requirements of small and medium-sized enterprises today, according to Mr. Quang, this actual process can be divided into 3 stages.

Phase 1 is the process of businesses digitally transforming their existing products and services. That is, digitizing business operations through the application of technology software to serve customers faster, understand them better, and take better care of them.

Phase 2 is the process of applying technology more comprehensively (applying more modern and automated technology). This process is carried out after having a data system such as sales history and accounting system, which are the results of phase 1.

Phase 3 is the process of using the data generated from the previous two phases to find a solution that provides new value to customers. This is not just about the product but also the service (whether it is delivered to customers quickly or not, whether it is cheap or not, whether the product creates new value or not).

According to expert Le Hong Quang, MISA has completed building a technology product system to meet the needs of businesses in digital transformation.

The desire of small and medium-sized business owners in the digital transformation process is to use technology software that is easy - cheap - fast. This is the difference with large enterprises, because a comprehensive management solution for businesses requires a large amount of finance.

To help small and medium-sized enterprises successfully transform digitally with limited budget, MISA has built a business management platform with full financial and accounting sales applications. However, each item is divided into small items, but there are links between each part. Enterprises can convert in small items.

The investment cost of small and medium enterprises for digital transformation can range from a few tens of millions to several billion VND, depending on the scale and stage of digital transformation of the enterprise. Each small part of MISA's software system will help enterprises automate the cycle from orders, purchases, warehousing, delivery to financial and accounting activities...

“Small businesses will have experience and know-how to use small software. In the process of digital transformation of businesses, the strategy is to go long-term but the implementation must be done from short steps, from small actions. However, when taking action, it must be fast, act immediately. Without digital transformation, businesses will lose,” Mr. Quang emphasized.

Galaxy

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