Brian Jeffrey
Adapting to Business Challenges through Digital Transformation
In light of recent global uncertainties, companies are increasingly focused on finding ways to thrive and grow. Embracing digital transformation and leveraging technology are seen as key strategies to navigate these challenges.
KPMG Vietnam reports that many businesses recognize significant advantages from digital transformation, particularly in enhancing employee satisfaction and improving customer experiences.
As a result, approximately 57% of companies have invested in advanced technologies such as AI, machine learning, generative AI, edge computing, robotics, automation, and the metaverse.
Revenue Growth in a Difficult Environment
Digital transformation expert Nguyen Thuong Tuong Minh emphasizes that given the current array of challenges, many enterprises have been forced to streamline operations and explore new revenue streams over the last few years.
This raises important questions: How can businesses increase their revenue amid dwindling opportunities? What strategies can be implemented to practice fiscal responsibility and avoid resource waste?
The solution goes beyond merely adopting new software; it requires a fundamental approach to operations to address issues at their core.
Navigating Complexity in Technology
However, research from Dell Technologies shows that a significant 60% of respondents in Vietnam report feeling overwhelmed by the complexity of technologies during their digital transformation journeys. This presents a considerable obstacle for companies in Vietnam.
Many businesses still rely on separate systems that demand manual intervention, leading to operational risks.
Integrating new software with existing systems can be labor-intensive and challenging. Companies seek solutions that combine both new and legacy software effectively. A seamless, integrated software system is essential—not just individual software products.
“Such integration maximizes investments in information technology. The cost is not merely for three software solutions but encompasses the enhanced value created through their interaction. This translates to savings in time, resources, and finances,” he noted.
Essential Features of Modern Software Systems
Experts argue that contemporary software systems should address various key aspects, including automating communication between different software platforms, standardizing processes to eliminate errors, enhancing data exchange, and allowing easy addition or removal of software components when needed.
As reported by the Ministry of Information and Communications, by October 2024, around 1.28 million businesses have engaged in the small and medium enterprise (SME) digital transformation support program (SMEdx).
