Benefits businesses need to grasp

According to the Vietnam E-commerce White Book 2023, 41% of enterprises nationwide currently use electronic contracts in transactions. However, in Thanh Hoa , the rate of enterprises understanding and using electronic contracts to sign and execute transactions is still very modest. In the inevitable trend and from the efficiency and benefits that electronic contracts bring, enterprises need to understand correctly and quickly learn, grasp, and make full use of this form of transaction.

Electronic contracts: Benefits businesses need to grasp Electronic contracts are performed entirely online, helping businesses save costs and facilitating storage and search activities (Illustration photo).

An Hieu Minh Company Limited (Thanh Hoa City) operates in the field of providing tax accounting services for enterprises, with hundreds of contracts/month. Since the end of 2022, the enterprise has deployed the use of electronic contracts instead of paper contracts to facilitate transactions and save costs. According to the enterprise representative, with the previous paper contract, signing a contract would cost both parties a lot of time, money, personnel traveling, meeting, and discussing and agreeing on terms. Now, the contract is drafted, discussed, and agreed upon by both parties right on the network environment, so it is much more convenient. Storing and looking up the list is also very easy. The enterprise director can sign the contract anywhere without having to wait to be present at the enterprise's headquarters. Currently, the enterprise has deployed 100% of electronic contracts in commercial transactions.

According to VNPT Thanh Hoa, through the support of modern technological means, electronic contracts bring many conveniences and optimization in business administration activities. Accordingly, using electronic contracts will help save costs, optimize profits from cost savings such as printing, moving to sign contracts, personnel to manage contracts; save time...

In addition, the use of electronic contracts is also highly transparent because all content takes place in an online environment; information updates are recorded in the editing history; storage and searching are easy; at the same time, it overcomes barriers of geography, epidemics, weather and promotes international trade.

Discussing the legal provisions ensuring the legality of electronic contracts, Director of the Center for Information Technology and Digital Technology, Department of E-commerce and Digital Economy, Ministry of Industry and Trade Le Duc Anh said: The provisions that form the legal basis for electronic contracts are quite clear and are stipulated in the Law on Electronic Transactions 2023 (replacing the Law on Electronic Transactions 2005), effective from July 1, 2024. Accordingly, although established and transmitted in the form of data messages in the electronic environment, according to Article 38 of the Law on Electronic Transactions 2023, in the conclusion and implementation of electronic contracts, notifications in the form of data messages have the same legal value as notifications in paper documents.

To date, Thanh Hoa province has 21,000 operating enterprises, of which 90% are small and medium enterprises. Converting and using electronic contracts is one of the important contents in the digital transformation of enterprises, aiming to improve efficiency and competitiveness in the context of the digital economy. However, according to the Department of Information and Communications, many small and medium enterprises still do not clearly see the need and necessity of digital transformation in general or electronic contract conversion in particular. In particular, enterprises are also concerned about the safety and security of information for this type.

According to the Digital Transformation Plan for 2024, Thanh Hoa province aims to have over 50% of enterprises using electronic contracts. Achieving this goal requires proactiveness from enterprises, along with the support of state agencies and electronic contract service providers.

Vice President and General Secretary of the Provincial Business Association Doi Sy Nam said: “To continue promoting the achieved results, gradually overcome shortcomings and limitations; at the same time promote digital transformation activities in enterprises, contributing to the development of the local digital economy, the Provincial Business Association will accompany the business community in the roadmap for applying and converting electronic contracts. Along with propaganda work, raising awareness of digital transformation in general and the use of electronic contracts in particular, through consulting and introduction work, the association will work with enterprises to determine the roadmap for converting electronic contracts in a way that is appropriate to their level and finances, thereby helping enterprises choose suitable solutions and suppliers, promoting digital transformation of enterprises, towards the goal of national digital transformation".

Article and photos: Bach Nguyen

Source