Digital transformation in business: Opportunities and challenges

Opportunities from digital transformation

The COVID-19 epidemic pushed businesses to face many difficulties, but also suggested more channels to reach customers, which is an opportunity for businesses to change their thinking, digital transformation, and e-commerce application in production and business activities. its business. In recent years, many enterprises in the province have paid attention to and gradually "stepped into" digital transformation, creating significant efficiency in production and business activities. Thereby, rising to affirm the brand, signing more new orders, participating in the global supply chain.

Mr. Le Van Vuong, Director of Vuong Thanh Cong Production and Trading Company Limited (Buon Ma Thuot City) said that the enterprise plans to implement the digital transformation roadmap and considers this a necessary investment in the strategy. its development. Currently, the unit has applied digital transformation in using tax declaration software, digital signatures, accounting software and sold products on 4 domestic e-commerce platforms... Under the negative impact Due to the epidemic, the unit is continuing to perfect digital transformation application programs to maintain its image and attract customers.
At Ban Me Green Farm Joint Stock Company (Buon Ma Thuot City), this enterprise has applied digital transformation in production management, using electronic diaries to control remote work, manage businesses and manage customer distribution. Nguyen Thi Thai Thanh, Director of the company shared that the results of digital transformation help businesses save a lot of costs in the production process, increase business efficiency through automation, thereby bringing in more profits. orders, new customers.
For example, during the time of social distancing to prevent and control the COVID-19 epidemic, especially when Ho Chi Minh City Buon Ma Thuot implements Directive No. 16/CT-TTg of the Prime Minister, thanks to the application of digital transformation in production and sales management, it has made it much more convenient for the unit to collect customer information. , product catalog and order, manage the number of existing goods, inventory... Every day, enterprises have 400 - 500 more orders. Having taken advantage of opportunities from digital transformation, however, according to Ms. Thanh, if the advantages and potentials of digital transformation are better exploited, the revenue of enterprises will grow even higher.

According to experts, digital transformation brings many opportunities for businesses. In order to seize the opportunities brought by integration, enterprises must "quickly" apply scientific and technical advances to production, towards smart production and step by step towards digital transformation.
Need the right mindset and roadmap

Sharing with enterprises of the province in developing e-commerce and digital transformation, Mr. Phi Anh Tuan, Vice Chairman of Ho Chi Minh City Informatics Association. According to Ho Chi Minh, in the context of international integration, if you want to create a breakthrough in production, digital transformation is the optimal and necessary solution. Digital transformation reaps many benefits when production and business activities are increasingly attached to and dependent on the digital economy. It is worrying about slow digital transformation that will lose opportunities for businesses.

Mr. Le Nguyen Hong Phuong, Chairman of the Board of Directors of BIT Group, affirmed that in the competition to keep and expand the product consumption market, enterprises with fast digital transformation will gain many advantages. Because enterprises participate in digital transformation, developing e-commerce as soon as possible will create more added value and achieve more success compared to traditional production and business.

In fact, the difficulty of Dak Lak enterprises is that most of them are small and medium-sized, so investment capital for production and business is limited. However, according to Mr. Phuong, the cost of business investment is no longer a barrier when starting digital transformation. For example, a business when starting a business only needs to invest a few million dong to start an online business, while the surplus value is quite high, especially in the retail, consumer, service, brokerage industries...
Selling online gives a higher income than traditional sales, while the initial investment in infrastructure does not need to be much. Today, online business is "on the throne", consumers tend to buy anything, mostly on the Internet to search. In Vietnam, online revenue in 2016 only reached 5 billion USD, now it is 11 billion USD.

There are some problems that are currently, many enterprises in Dak Lak province are still confused and don't know where to perform argument transfer from? How to apply to change the growth model? How to do online business without violating regulations on e-commerce? How to make market information transparent? And there are many difficulties such as: no big data for the industry; Application skills, steps to increase efficiency in online business are still limited…

Talking about this issue, Dr. Quach Ngoc Long, General Director of WORKIT Joint Stock Company, said that in digital transformation, technology is the support, the new human factor is important. In which, the mindset of the head of the business plays an important role in digital transformation, basically, does the enterprise really want to transform and prepare for a breakthrough? According to Mr. Long, enterprises should have a transformation roadmap in line with their ability to participate in the global supply chain. To do so, businesses need to understand the importance of applying technology to production and business, participating in digital transformation to increase competitiveness with goods of the same type in the market.