The journey of transformation to keep up with the times
2019 marked a turning point when Mr. Do Tien Dung took over the position of Chairman of the Board of Directors and General Director of INDEVCO Group. From the beginning, the young leader identified business modernization as a vital goal, in which digital transformation played a key role.
The biggest challenge in the digital transformation process at INDEVCO is the old mindset and infrastructure; the team that is used to working manually also has difficulty adapting to the complex digitalization process.
“ If we don’t change, we will be left behind. Failure is also an opportunity to learn and improve” – that is the consistent spirit that the young leader conveys to the Group’s employees.
INDEVCO’s determination to digitally transform is demonstrated through its heavy investments in IT infrastructure and management software. The company has poured more than VND20 billion into technology expansion and human resource training projects in the period from 2019 to 2024 – demonstrating its long-term investment vision.
From 2019 - 2020, the Group has allocated a budget to upgrade network systems, servers and digital equipment at factories and offices. In 2022, INDEVCO cooperated with PwC Vietnam to implement the "New INDEV" project - comprehensively restructuring the Company towards an advanced governance model.
Along with infrastructure investment, INDEVCO simultaneously deploys modern digital technology solutions in management activities, such as ERP system integrated with CRM - creating a unified "backbone" of management from internal operations to customer care, creating strong relationships, enhancing reputation in the market.
In the field of manufacturing construction materials from waste rock - minerals accompanying the coal mining process, the Group aims to apply IoT (Internet of Things) technology and automation to build smart factories, using AI technology to warn early of abnormalities and machine failures. INDEVCO boldly experiments and applies Blockchain to trace the origin of raw materials and products in the supply chain, helping customers and authorities trace the origin of goods when necessary.
In particular, INDEVCO has begun to digitize An Lac Vien cemetery - a very specific service. From manual management, the Company has now deployed a smart cemetery management platform integrating GIS digital maps, electronic databases, and CRM to manage graves and related services. On the new system, An Lac Vien clearly understands the status of each grave on the digital map, information of the deceased and customers, avoiding duplication... This is an innovative project that helps improve service quality, increase efficiency and customer experience.
Building a comprehensive digital transformation ecosystem
Unlike some businesses that only consider digital transformation as the responsibility of the Information Technology Department, at INDEVCO, Chairman Do Tien Dung directly assumes the position of Head of Digital Transformation. Every investment decision for technology is carefully considered by him in the spirit of "daring to spend for the future".
By mid-2025, after about 5 years of digital transformation, INDEVCO has achieved initial results, the most important of which is the innovation of management thinking. The company has shifted from traditional management based on experience and habits to data-based management. Thanks to that, despite many market fluctuations, INDEVCO remains stable, with a solid technological foundation.
The new ERP system helps optimize inventory and production planning, with an estimated average inventory reduction of nearly 15%, equivalent to tens of billions of VND in freed capital. Maintenance and operating costs for machinery have also decreased significantly thanks to reduced unexpected breakdowns and improved equipment performance. In addition, the implementation of standard financial accounting management modules helps INDEVCO control costs more closely, and detect unreasonable points early for reduction.
Many specific digital transformation projects have been and are marking success at INDEVCO. One of them is the IoT + AI application project plan for the Artificial Sand production project from coal mine waste rock - a business project that Mr. Do Tien Dung has cherished since taking over INDEVCO. This can be considered the first smart factory pilot model of the Group, serving as a basis for the Group to evaluate and expand to production facilities in the near future.
Identifying “Human resources are the decisive factor”, INDEVCO’s leadership pays special attention to training and developing digital skills for staff. Many training courses are organized. Employees gradually adapt to the digital environment, proactively proposing initiatives to improve processes based on technology.
Sustainable commitment, towards the future
For INDEVCO, the digital transformation journey is just beginning. The Group’s future vision is to build INDEVCO into a complete “digital enterprise” by 2030.
INDEVCO aims to complete its internal digital ecosystem in the next 5 years. All member units from construction material production, waste treatment to cremation and cemetery services are connected on the same centralized data management platform. All key processes will be highly digitized, minimizing manual intervention. The Group also aims to build a data analysis center, effectively supporting market forecasting, operational optimization and strategic decision making.
INDEVCO determines that its digital transformation strategy is always linked to the orientation of sustainable development. The Group will prioritize technology projects that help solve local environmental and social problems... This both fulfills its responsibility to the community and opens up new business opportunities in the digital and green economy .
Mr. Do Tien Dung once shared his desire to help INDEVCO contribute more to Quang Ninh province through projects that address essential local needs. Digital transformation is the key to realizing those projects effectively and quickly.
After a challenging journey, INDEVCO has learned many hard-won lessons about digital transformation. Digital transformation is a process of trial – error – learning – correction. As Mr. Dung once shared with his employees: “If we make mistakes, we can correct them, as long as we don’t stand still”. This spirit of learning helps INDEVCO overcome initial setbacks to continue moving forward.
INDEVCO's experiences - from understanding the true nature of digital transformation, valuing the human factor, courageously experimenting and learning, to using external resources - can all be useful lessons for other Vietnamese businesses that are or are about to embark on this path.
The journey ahead is long, but INDEVCO's story shows that a traditional business with the right will and strategy can still keep up with the times, proactively transform itself to thrive in the digital age.
Source: https://vtcnews.vn/doanh-nghiep-chuyen-doi-so-toan-dien-nhin-tu-bai-hoc-cua-indevco-ar957175.html
Comment (0)