Trends for digital transformation of businesses
As digital transformation becomes an inevitable trend and also a national strategy, Vietnamese enterprises are also quickly "digitalizing" maximum processes and procedures in the working and transaction process. Among them, electronic contracts are a powerful tool to support enterprises in saving time, costs, optimizing business performance, and enhancing brand image.
An electronic contract can be understood as a type of contract established in the form of a data message according to the provisions of the Law on Electronic Transactions. In which, a data message is information created, sent, received and stored by electronic means such as computers, laptops, phones, iPads.
To sign an electronic contract, users are required to use electronic contract signing software provided by registered and licensed service providers[TĐT2]. Currently in Vietnam, the legal framework for electronic contract authentication has been completed, protected by law and in accordance with the provisions of the current Law on Electronic Transactions.
Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said that electronic contracts are widely applied in cross-border transactions, import and export, especially in developed countries (according to the speech at the Conference "Developing electronic contracts in Vietnam - Implementing Decree 85/2021/ND-CP").
Furthermore, since the COVID-19 pandemic began, many businesses have been gradually switching from traditional paper contracts and documents to electronic contracts and documents. In fact, 33% of businesses in Vietnam apply electronic contracts in commercial activities as announced by the Vietnam E-Commerce White Book 2021, further affirming this trend.
Solutions to help businesses make big profits
To maximize the advantages of electronic contracts, businesses need to choose a reputable electronic contract software provider. Researched and developed by MobiFone Telecommunications Corporation, MobiFone eContract is currently the optimal electronic contract service platform used by many businesses with reasonable costs and many outstanding features.
Enhance data security and information safety: One thing that businesses often pay attention to when using electronic contracts is security when related to third parties. In this regard, MobiFone eContract electronic contracts are highly appreciated for applying 24/7 security measures, preventing attacks and data leaks with multi-layer security, real-time data backup; secured on MobiFone's server infrastructure.
Contract data is encrypted when transmitted and connected to the Vietnam Electronic Contract Development Axis of the Ministry of Industry and Trade to ensure the security of user information. This helps businesses not only secure information but also minimize risks compared to traditional contracts such as: avoiding damage, loss, fire due to incidents... At the same time, looking up the authenticity of the contract is also easier, faster and more convenient.
Help businesses save time and money
For traditional contracts, businesses usually have to spend 5 to 8 working days and spend 50,000 to 80,000 VND (including printing, storage, transportation, etc.) to complete a set of contracts. Not to mention force majeure cases such as the COVID-19 outbreak, transporting contracts is impossible.
Meanwhile, MobiFone eContract software only takes from a few minutes to a few hours to submit and sign a contract. Regarding costs, let's do a simple calculation: If a business generates 500 contracts in a year, the related costs can be up to 40 million VND. Meanwhile, the cost of electronic contract software is only about 15% of this figure, meaning that businesses save up to 85% of costs.
In addition, the feature of signing multiple contracts at the same time also helps businesses speed up the signing process, save costs, improve production and business efficiency, and contribute to environmental protection.
Convenient and flexible signing: With the characteristic of electronic contracts, MobiFone eContract allows users to sign contracts anywhere, anytime without having to meet in person or worry about the person holding the seal being absent. Users can also sign on many electronic devices such as: phones, tablets, computers.
In addition, MobiFone eContract also supports many forms of signing such as HSM digital signature, USB Token, multi-network CA SIM, eKYC, photo signature with SMS OTP. Each encrypted digital signature can be used for many contract signing points instead of having to sign by hand and stamp, which takes a lot of time.
Enhance competitiveness in the digital age: Enterprises using electronic contracts demonstrate vision as well as technological innovation. Moreover, electronic contracts can help enterprises access, transact and exchange information with many partners at the same time.
For foreign partners, this is also a useful transaction tool in the digital age, not hindered by geography, time zone, etc. This creates conditions for the subjects of the contract, especially e-commerce contracts, to be able to cooperate, manage, and make the most of all business opportunities.
To meet the needs of many customers, MobiFone also designs many different electronic contract solution packages to bring superior solutions to customers. This also clearly demonstrates the commitment to constantly improve and upgrade to bring customers the best services and experiences, commensurate with the development of digital technology in the world, contributing to promoting the national digital transformation.
Bao Anh
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