Vietnam digital transformation means more than just revenue
HANOI: The goals of digital transformation are not simply to increase revenue or improve management efficiency, but how to obtain the best added value and optimise resources, Le Nguyen Truong Giang, director of the Digital Transformation Strategy Institute, says.
Giang said at a conference on accelerating digital transformation in Quang Ninh last Sunday that enterprises should clearly understand digital transformation in order to develop their plans.
He said digital transformation is not a movement, trend or fad.
He added that if enterprises only cared about increasing sales, improving customer service and improving management efficiency, it should not be digital transformation but increasing information technology application.
He stressed that digital transformation helps provide enterprises with solutions to increase sales, achieve the best added value and optimise resources.
Digital transformation is the process in which the unmeasurable becomes measurable and the uncountable becomes countable, he said.
For example, enterprises often complain that they find it difficult to access credit, but if they have a good data system, digital transformation will simplify everything because their capacity can now be measured.
In addition, measuring enterprises’ resources will help them develop effective optimisation solutions, he said.
Giang said that the first important step in digital transformation is providing training about knowledge and skills, especially for decision-making positions.
Pham Thanh Ha, director of VTI Solutions, said there is increasing interest among enterprises to digital transformation. Some planned to spend from 5% to 10% of revenue on digital transformation.
However, the transition remains challenging. Ha pointed out that few enterprises have raised master plans for digital transformation, but they tend to implement transformation in small parts first and then integrate later, which often causes more difficulties and increases costs.