With a few tens of millions, can businesses transform digitally?

Use free tools for digital transformation

The title of this article is a question raised by a business at the Forum to promote the national digital transformation process with the theme "Creating value from data strategy" organized by the Vietnam Digital Communications Association on the morning of July 5.

According to leading experts and businesses in digital transformation in Vietnam, for units without much budget, purchasing software and converting data from contracts and forms is also a form of digital transformation.

Pama General Director Pham Vu Hiep affirmed: "In addition to improving what they are doing, businesses can use free online tools and applications to improve production and business efficiency. With just a few tens of millions, digital transformation can be achieved. The important thing is that we determine what to do and have the people to do it."

Mr. Thai Tri Hung - Technology Director of Momo Wallet Application said that "Small businesses and street vendors can also participate in the digital transformation process by selling online, linking with goods distribution and payment platforms".

"Through technology and social networks, we are closer to customers, which is also digital transformation," said Mr. Hung.

Mr. Le Nguyen Truong Giang, Director of the Institute of Digital Transformation Strategy, presented at the forum.

Data is a business asset

Answering the question of digital transformation which has been strongly communicated in recent times but is not effective, what should be done?, Mr. Le Nguyen Truong Giang, Director of the Institute of Digital Transformation Strategy, said that businesses always ask what are the benefits of digital transformation.

"However, the content that businesses are exposed to about digital transformation is currently not unified. There are hundreds of documents, regulations, and instructions on digital transformation, making it difficult to grasp the true nature of the problem while Vietnam lacks experts to guide and centers to promote digital transformation. We are implementing big goals, requiring fast but with a "half-baked" team," Mr. Giang shared.

According to Mr. Giang, digital transformation is a method and process to achieve a goal (for example, to serve people better, to increase productivity, customers, and revenue), but digital transformation is not a goal or an ornament as many people mistakenly think.

Digital transformation will make data valuable by structuring it into a product to sell. When businesses understand that data is an asset, they will soon transform digitally.

At the Forum, Mr. Giang proposed that the State provide businesses, especially small and medium-sized enterprises, with access to low-interest credit to implement digital transformation projects and apply science and technology. Without investment, breakthroughs cannot be created.

National Digital Transformation Forum

Measure audience preferences to create popular products

As one of the speakers at the forum, Mr. Huynh Long Thuy, General Director of VieON, said that all of the company's programs are posted online. At that time, all comments and viewership parameters such as age, gender and taste will be collected. From that set of criteria on reception needs, VieON builds content and buys program formats suitable for the audience.

Mr. Thuy believes that to keep up with trends and lead audiences, businesses must have a lot of information about users. VieON builds movies and entertainment programs with identity, which are widely accepted by audiences, thanks to using this data.

According to Mr. Tran Tinh Minh Triet, Director of SAP Vietnam Solutions, digital transformation is not something you choose to do, but it is a mandatory path to increase productivity and product value. To transform digitally, you must have data.

Citing MIT statistics, Mr. Triet said that by 2025, 175 Zettabytes of data will be created. If each USB is 1 GB, it would take 175 trillion USBs to store it all. This amount of USBs could circle the equator 222 times.

“Data is a valuable, intangible asset that is never included in a company’s financial statements. We often forget about this asset,” said the director of SAP Vietnam Solutions, adding that 66% of CEOs believe that having data in hand helps them work better than their counterparts.

Turn "non-number" employees into number employees

The key to successful digital transformation is internal communication, according to Network Vietnam Director Nguyen Khanh Hung.

This person believes that business leaders need to turn a "non-digital" employee who has no skills in using computers, technology, data collection tools... into a "digital employee".

Only when the whole team agrees and unanimously uses digital transformation as a method to achieve goals, regularly communicates internally, trains employees to meet new job requirements, and creates a new position for "digital employees" will it be successful.