The "Journeys of Peace and Joy"

By applying technology to connect customers and help transportation businesses operate efficiently, CEO Phan Bá Mạnh and the An Vui team have helped both customers and transport companies have safe and enjoyable journeys. Not only serving domestic businesses, he is also striving to expand internationally.

Businessman Phan Bá Mạnh, General Director of An Vui Technology Joint Stock Company.

Turning the tide with technology.

Inter Bus Lines is a popular choice for tourists planning a trip to Sa Pa town (Lao Cai province). In the transportation industry, Inter Bus Lines is also among the leading companies, with over 100 vehicles and an average occupancy rate of approximately 87% per trip.

In the memory of businessman Phan Bá Mạnh, there was a very different Inter Bus Lines than the present day. In July 2017, Mr. Nguyễn Thanh Tùng, Chairman of Inter Bus Lines, intended to cease operations. The reason was that despite using software provided by an intermediary ticketing company, Inter Bus Lines was still operating inefficiently. On the internet, Inter Bus Lines was a obscure brand, easily impersonated by others for profit. Business-wise, Inter Bus Lines recorded low actual revenue due to capital tied up by agents, while a significant number of tickets were sold. In particular, the company faced the risk of dependence on a single exclusive agent, who also held the ticketing software.

Seeing a problem they could solve, An Vui approached Inter Bus Lines, offering to provide a technology platform for the bus company, with the sole condition: "If Inter Bus Lines' business efficiency increases by 10 dong, An Vui will receive 1 dong." At that time, An Vui had only been launched for less than a month, specializing in comprehensive management solutions for long-distance bus companies.

We must avoid burning money to buy users, and instead adopt a long-term strategy that combines technology and deep industry knowledge to create a competitive advantage.

- Businessman Phan Bá Mạnh

Inter Bus Lines has agreed to let An Vui replace its old software system with a new solution. First, they will build a website system based on Inter Bus Lines' brand identity and standardize it to meet SEO standards. Next, An Vui will support Inter Bus Lines in developing an online ticket booking application to help the company proactively cultivate a loyal customer base. In addition, An Vui will help Inter Bus Lines develop sales channel management software, enabling the company to proactively expand its ticket sales channels through agents and control capital tie-up.

Within the following two years, Inter Bus Lines' revenue increased by 200%; the number of employees decreased by one-third. The cost Inter Bus Lines had to pay An Vui, based on the initial cooperation agreement, could have reached 100 million VND per month. Therefore, An Vui adjusted the costs according to the features Inter Bus Lines used. Inter Bus Lines, their first customer, also helped An Vui improve its product daily.

"Inter Bus Lines is the clearest example of how a strong transformation through technological applications can help transportation businesses turn the tide of business," said a representative from An Vui.

The "Journeys of Peace and Joy"

To date, after 7 years, Inter Bus Lines remains a loyal customer of An Vui. In addition, An Vui has approximately 400 other customers, mostly large transportation brands such as Kumho Samco, Son Tung, Hao Huong, Bac Son, etc. In 2023, the An Vui system recorded over 9 million tickets sold, equivalent to ticket sales revenue of 400 billion VND.

CEO Phan Bá Mạnh estimates that 80% of Vietnam's passenger transport market is controlled by 20% of the largest transport companies. Among these large transport companies, An Vui has partnered with 50%, becoming a leading name in technology solutions for long-distance transport operators.

“The entire business operation is automated. The company can manage everything down to the second, from the number of tickets sold, remaining tickets, travel schedules, cash flow, profit, and loss. An Vui software helps bus companies save 10-15% on operating costs and increase ticket sales revenue by 15-30%, thanks to providing scientific communication and interaction tools between departments,” the CEO, born in 1981, affirmed.

To ensure that small transport businesses are not left behind in the digital transformation race, since the beginning of 2022, An Vui has collaborated with the Ministry of Information and Communications to implement a program offering free software setup for transport companies owning fewer than 5 vehicles. For each trip, An Vui collects 5,000 VND from the transport companies.

“The Covid-19 pandemic has severely impacted transportation businesses, putting them at risk of bankruptcy or cessation of operations due to a lack of customers and insufficient funds to maintain operations. This is the motivation for An Vui to implement this support program, joining hands with transportation businesses to overcome challenges,” CEO Phan Bá Mạnh shared.

From the customer's perspective, when transportation companies integrate technology into their management, they can book tickets more easily, no longer have to queue to buy tickets, can proactively choose their seats, and avoid overcrowding, especially during holidays and Tet (Lunar New Year).

Phan Bá Mạnh deeply understands the hardships faced by travelers who have to travel long distances by car. Ten years ago, after the failure of a business project, the 30-year-old Phan Bá Mạnh lost all his capital. He packed his backpack and wandered across the country to find motivation and seek new opportunities.

During that long journey, he encountered numerous difficulties due to a lack of information and online ticket booking tools; even when he managed to book a ticket, he often boarded the wrong bus or was dropped off at the wrong destination… From this, the idea of "Safe and Happy Journeys" for both customers and transportation companies was born.

For a transparent “ticketing industry”

In a conversation with a reporter from the Investment Newspaper, CEO Phan Bá Mạnh enthusiastically spoke about his goal: building a transparent "ticket industry" that reduces losses and waste for society as a whole. Starting with a management platform focused on road transport businesses, An Vui's technology has been applied to other sectors such as movie tickets, ferry tickets, and tickets for tourist attractions and destinations.

However, Phan Bá Mạnh never forgets the difficulties that An Vui faced to get to where it is today. He admits that, with his current understanding, if given the opportunity, he might not dare to start building An Vui again.

He once simply thought that the multi-billion dollar long-distance transportation market in Vietnam, which was not yet professionally managed, would be an opportunity for businesses that knew how to integrate technology into their operations. He was also confident that he possessed a product good enough for the market to readily accept. But the more he worked, the more he realized that the biggest challenge didn't come from the product or the market, but from changing the mindset of the transport companies.

According to him, most heads of transportation businesses rose through the ranks from being drivers or assistant drivers. They navigated the harsh realities of the market, accepting losses and waste as an inevitable part of it, and even willing to pay unofficial fees rather than invest in technology. Therefore, An Vui's only path forward is to persistently persuade and not give up when customers repeatedly say "no."

During the Covid-19 pandemic, An Vui faced a critical situation. CEO Phan Bá Mạnh exclaimed, "This is a once-in-a-century challenge for businesses." All of An Vui's transportation clients had to cease operations due to social distancing measures, causing the company's revenue to drop to zero within a year. Despite fortunately receiving two rounds of investment from VinaCapital in 2019 and Hustle Fund in 2020, An Vui still struggled to find a way to survive.

At this point, CEO Phan Bá Mạnh realized that large businesses struggle to survive, small businesses struggle to survive, and only businesses that are flexible and adaptable can endure.

He drastically reduced the sales department from 20 people to 2, while expanding the product development department from 5 to 10. Simultaneously, he focused on strengthening the company's internal operations, integrating new features such as developing a freight transportation platform, enabling transport companies to utilize their vehicle's cargo space to optimize their operations. An Vui also built a shared ticketing system for transport businesses, then connected this system with domestic and international partners to help businesses diversify their sales channels. To date, bus tickets sold through 24 banking applications or the VNPAY platform all source from An Vui's ticketing system.

"We absolutely refuse to burn money trying to buy users; instead, we must adopt a long-term strategy combining technology and deep industry knowledge to create a competitive advantage," businessman Phan Bá Mạnh said about his strategy.

Having overcome numerous challenges, An Vui will focus intensely on developing the domestic market to bring its products to even more transportation companies in the coming period. In addition, An Vui is also considering entering the stadium ticket sales segment, a segment considered even more challenging than passenger transportation. From there, An Vui will gradually conquer the markets of neighboring countries in Southeast Asia in the future.

“We expect that products created by Vietnamese people will serve Vietnamese businesses and, from there, expand our market share abroad. An Vui already has a branch in Singapore, which will be a key point for expanding our market to other countries in Southeast Asia,” CEO Phan Bá Mạnh shared.

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