The digital transformation solutions industry is witnessing impressive growth despite the challenging economic context. The popularity of automation and artificial intelligence technologies, typically the ChatGPT application "fever", has contributed to promoting businesses to boldly use digital transformation solutions.
On the other hand, demand digital conversion is increasing in the context of the COVID-19 pandemic and the strong development of technology. Businesses are looking digital transformation solutions to help them automate processes, optimize operations and enhance competitiveness.
Despite the general difficulties of the economy, digital transformation solutions industry still recorded impressive growth. According to VTV's report, many businesses in the industry digital transformation solutions recorded a growth of more than 30% in the first 6 months of 2023 compared to the same period last year.
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VTV reports: The digital transformation solution market is facing difficulties "going upstream"
VTV reported: The market for "upstream" digital transformation solutions is facing difficulties
Behind each smooth and convenient digital banking device is a combination of many different solutions, from electronic identification, chip-based citizen identification authentication to automating business processes with robots.
Mr. Vu Trong Nghia, CEO of Bizzi Vietnam, shared: “It is true that businesses will be cautious in spending at the present time. However, with the solution of Bizzi and Shinhan, it is a low-cost solution, but the value it brings to businesses is greater. More and more businesses see the importance of applying technology, especially automation and the popularity of artificial intelligence to help their financial and accounting management become more efficient, streamlined and optimal.”
The effectiveness of digital transformation solutions is proven by the impressive growth that many businesses have recorded after applying them. This is the main reason why companies providing “upstream” solutions have been successful in the context of general difficulties.
However, convincing business leaders to change their perception of digital transformation is still a big challenge. Many businesses have used the solution but failed due to lack of careful preparation or choosing an inappropriate solution.
Some large enterprises estimate that the growth of the digital transformation solution industry is still reaching more than 30%. Enterprises spend money to buy digital transformation solutions, but find that the effectiveness is short-lived… is the reason why companies selling “upstream” solutions are having difficulty.
Mr. Tu Tien Phat, General Director of ACB, said: "Investing in infrastructure cannot be economical because it is related to the bank's foundation, but when investing in applications, we carefully consider solutions, focusing only on solutions that bring good customer experiences and not applying them indiscriminately."
According to the technology world, there are still business customers who have used the solution but failed and were not effective, so they are hesitant and afraid of its feasibility. Therefore, convincing business leaders to change their perception of digital transformation remains a challenge.
To solve this problem, solution providers need to focus on:
- Consulting and assessing specific needs of each enterprise.
- Provide suitable solutions with the size, industry and budget of the business.
- Support businesses to deploy and use solutions effectively.
Besides, businesses also need:
- Raise awareness about the benefits of digital transformation.
- Strategy development Digital transformation in accordance with business goals.
- Investment commitment finance and human resources for the digital transformation process.
Digital transformation solutions industry is predicted to continue to grow strongly in the coming years. Businesses need to seize this opportunity digital conversion success, improving competitiveness and sustainable development.
With close cooperation between solution providers and businesses, the digital transformation solution industry promises to continue to grow strongly in the future, contributing to promoting Vietnam's economic development.
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