Hanoi (VNA)🌃 – FPT experts have said digital transformation can help enterprises cut cost by up to 60 percent and time needed by between 30 and 70 percent, or even 90 percent in some specific stages.

Given the global economy plagued by the COVID-19 pandemic, digital transformation is considered a solution to helping businesses sustain and boost their operations.

A growth leverage

At the technology forum FPT Techday 2020 held in Ho Chi Minh City on November 19, Pankaj Rathi, director at Deloitte Consulting in Southeast Asia, said the pandemic is causing a severe GDP reduction, resulting in plunging global consumption, increasing unemployment rate, and a future full of uncertainties. The expert said in such context, no matter what goals a business chooses for itself, a technological platform is needed. Will Nguyen, head of IT Advisory for KPMG Vietnam and Cambodia, said Vietnam remains a potential market for technological products as all of its sectors are working toward digital innovation. However, looking for an IT expert in Vietnam is harder than in other countries, he added. Truong Gia Binh, co-founder and chairman of the Vietnamese technology company FPT, said firms are facing a double-edged challenge in which they might be swept away by technological waves or ride them to grow further. Nguyen Van Khoa, CEO of FPT, stated technology and digital transformation have proved their important role in creating the upcoming ‘normal conditions’. He noted FPT, despite facing a challenging and unpredictable year, has weathered the difficulties thanks to its technological readiness.

A key to businesses’ digital transformation

Khoa said his company believes in technology power and trusts that when technology becomes part of a concerted effort, it can bring about new opportunities and greater value. According to experts, the cooperation between humans and machines are expected to generate breakthrough values, becoming an answer for the sustainable development puzzle of firms in the context of the booming 4th industrial revolution. At the FPT Techday 2020, participating companies had a chance to shape in their minds the future of the world in the ‘normal condition’ and find the answers for their quest for growth from the human-technology combination. The combination means core technologies and artificial intelligence assist the human brain in creating breakthrough values, improving labour productivity, cutting losses, and opening up doors to growth. Participants were also treated to digital experiences at FPT’s Digital Command Centre Enterprise 5.0 and more than 30 spaces introducing online solutions to digital transformation. Vu Anh Tu, FPT Chief Technology Officer, said the FPT ecosystem consists of made-by-FTP products, its research and development activities, center of excellence (CoE), network of partners, and merger and acquisition activities. The ecosystem can help its clients perform a complete digital transformation, experience smart products and services, create productivity breakthroughs, and overhaul their business models, he added. According to a FPT representative, by investing in technology, a company can quickly transform its operation following digitalisation for optimal productivity, cost and time consumption levels. Based on their practical working experiences, FPT experts calculated that digital transformation can help enterprises cut cost by up to 60 percent and time needed by between 30 and 70 percent, or even 90 percent in some specific stages./.