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Digital transformation key to helping businesses catch up with market opportunities

Digital transformation is considered the key to helping businesses overcome the current difficult period, seize market opportunities and recover strongly, heard a seminar held in Ho Chi Minh City on July 14.

The seminar on challenges and opportunities of small and medium enterprises (SMEs) in digital transformation was co-organised by Vietnam Chamber of Commerce and Industry (VCCI) – Ho Chi Minh City branch and WorkIT Joint Stock Company.

Digital transformation, helping businesses, catch up with, market opportunities, seize market opportunities, seize market opportunities

Illustrative image.

The prolonged Covid-19 pandemic has affected all aspects of business operations, according to participants at the event. Specifically, enterprises have been facing challenges such as the ability to access customers, cash flow, maintaining workforce and supply chain disruptions.

In order to recover and develop production, it is necessary for the business community, especially SMEs, to quickly restructure and transform their business models to embrace innovation, they said.

According to Phi Anh Tuan, Vice Chairman of the HCM City Informatics Association, many enterprises find it difficult to select the right solutions, technology and effective consulting units relating to the digital transformation process due to the number of suppliers in the market.

In addition, it is a must for them to set up a data analysis department, and build digital assets as well as a management system to exploit digital resources, he said.

Quach Ngoc Long, General Director of WorkIT Joint Stock Company, said that the demand for the digital transformation among businesses is high.

Digital transformation is a journey of technological integration following a long-term roadmap with a flexible strategy to meet market trends, therefore, enterprises should change their mindset, devise a detailed strategy, remove barriers and begin with available infrastructure, he added.

Tran Ngoc Liem, Director of VCCI-HCM city branch, said that the VCCI has been constantly making efforts to introduce effective solutions for digital transformation in the locality, adding that it promotes cooperation with a range of partners to provide solutions and applications of digital transformation suitable for businesses in different industries.

At the seminar, VCCI-HCM City branch and WorkIt Joint Stock Company signed a Memorandum of Understanding on a collaboration programme to support 1,000 SMEs in digital transformation.

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Source: VNA

Digital transformation, helping businesses, catch up with, market opportunities, seize market opportunities, seize market opportunities
 
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