I. Overview of FPT operations in 2019
With the aim to become a leading Provider of Digital Transformation service worldwide in 2019, FPT had promoted investments in research, application completion, and development of market-demanded platform technology, at the same time transformation FPT into a digital business.
Aside from positive growth in revenue from digital transformation at the end of 2019, FPT had also built a strong digital transformation consultant capability, thanks to the digital transformation methodology FPT Digital Kaizen, along with powerful staff of Mr. Phuong Tram – Head consultant of Digital Transformation, who had succeeded in deploying this technology for Dupoint; a Vice-President in charge of Digital Transformation; 01 Digital Transformation Director; and over 2,500 employees for project deployment.
FPT Digital Kaizen is built on three basic principle: Think Big – Start Smart – Scale Fast. Think big is to combine strategies for business and digital transformation via the 3600 approach. While Start Smart is to pinpoint major problems and select suitable and feasible solutions for the business, at the same time choose appropriate staff for different tasks. Finally, Scale Fast is to prepare a scaling method over the entire business once tests are successfully performed.
In order to obtain a world-class tech capability, in 2019, FPT had promoted investments in research to catch up with global technological trends, all to improve product innovation, operation performance for customers, customer experience, as well as seek new business opportunities.
FPT had developed a total of 81 products, solutions, and services Made by FPT, among those are 60 digital transformation products, solutions, and services using the newest 4.0 technologies such as AI, Cloud, RPA, Blockchain, IoT… – all applied in various fields like Smart Businesses, Smart Banking, Smart Factories, Smart Healthcare, Smart Education, and Smart Life. FPT’s digital transformation solutions often focus on solving prevailing challenges in businesses and organizations, particularly those of optimizing procedures, elevating working efficiency, improving creativity among employees, reforming customer experience, at the same time contributing to hot issues of the society in medical, traffic, public administration….
Along with developing products, solutions, and services Made by FPT, the corporation also built its capability in 04 technological trends of AI, Cloud computing, blockchain, and Automation for comprehensive digital transformation in businesses of various industries, from here opening new doors and creating a motivation for further growth of the Corporation.
Tech capability and remarkable platforms and solutions from FPT
- Artificial Intelligence technology
The artificial intelligence platform – FPT.AI is now supporting 50 domestic as well as foreign businesses, with 72 millions of AI requests every year, affecting over 1 million end users, and is able to digitalize procedures/documents at 98% accuracy.
- Cloud computing
FPT deploys comprehensive Cloud services from consultancy to strategies, transformation, deployment, and product development for all major services like AWS, Azure, Office365, Saleforce, CloudStack, OpenStack, at the same time integrates new technologies of AI, BigData, and Blockchain. At the moment, FPT has 1,000 Cloud experts and own support toolkits including Citus™ Cloud Load Test, Citus™ PaaS, Citus™ Migration Suite, Citus™ CloudATS, Citus™ Containerization, all of which helps save time and cost for customers.
The Blockchain platform – akaChain assists businesses in quacking building of business networks and distribution application with blockchain technology, so that businesses may deploy new business models in the most efficient way, saving initial time and cost for deployment. At the moment, akaChain is being deployed and applied for various customers over industries like finance, insurance, retail, and supply chain.
The akaBot platform enables comprehensive procedure automation for businesses, applicable for businesses of all fields. With the platform, all repetitive procedures can be automatized to save time and human resource, from that reduce errors and improve work efficiency. Utilization of akaBot also help save up to 90% of work processing time, and 70% of human resources. It is used in tasks like: automation of data download procedure, automation of staff procedure, and so on.
II. FPT development strategy in 2020-2022
FPT will continue to follow the long-term target of becoming a digital business, as well as enter Top 50 world-leading provider of comprehensive digital transformation services and solutions in 2030.
1.1. Market trend
2019 had seen a boom in IT spending for Digital Transformation services of over 1,100USD – increasing almost 18% compared to 2018. IT spending in general, especially for digital transformation is estimated to continue growing in the upcoming years.
Digital transformation service: IDC predicts that Digital transformation service will reach 2,300 billion USD, which is 53% of the world’s total spending on IT services in 2023. Annual growth rate during 2019-2023 is also predicted to be around 17.1%.
1.2. Long-term target
1.3. Competitive advantages
- Digital transformation platforms and solutions
FPT had built an ecosystem of diverse digital transformation platforms and solutions to meet all customer demands.
- Partnerships with large customers
Revenue from large customers in Fortune Global 500 continues to rise.
- Over 100 customers in Fortune Global 500.
- 40% increase in revenue from Fortune Global 500 customers.
- Enormous technology resources
FPT technology staff continues to grow in both quality and quantity. At the same time, FPT also own a unique model of Education centers and Software parks, creating a stable platform to ensure long-term human resources for digital transformation and further growth.
- 17,628 tech employees.
- 2,510 employees for digital transformation projects.
- 04 Education centers and Software parks in Ha Noi, Da Nang, Ho Chi Minh City, and Can Tho, providing study spaces and workplaces for 80,000 people.
1.4. Programme of Action
- Improving consultant capability
Continue to add and adjust the FPT Digital Kaizen methodology along with business strategies of the organization based on transformation in 3 major elements of Digital Transformation in Operations (DX) – Digital Transformation in IT infrastructure (ITX) – People Transformation (PX).
DX- Applying new technologies to transform operational procedures and optimize operational costs.
ITX- Transformation of technology infrastructure to satisfy technical demands in DX.
PX – Training staff to ensure smooth operation of DX and ITX.
- Promoting investments in expansion of platform ecosystem and comprehensive digital transformation solutions
Promote investments in research and development, focusing on: (1) Development of Low-code platforms and tech solutions Made by FPT for instant deployment; (2) Promote services on cloud computing platforms; (3) Improve quality for solutions that use blockchain, AI, Big Data, RPA.
- Promoting development of high-quality staff in accordance with international standards
Focusing on development of specialized tech staff with in-depth knowledge in particular fields.
- Improving management capability
Focus of these 3 elements: (1) Continue to transform FPT into a digital business; (2) Deploy stronger OKR management solutions in the Corporation; (3) Unite the strongest fronts to create overwhelming advantages in human resources, technology, products, and solutions.
2.1. Market trend
The Vietnamese static wideband Internet market had grown 13.8% in 2019, from 13 million accounts to 14.8 million accounts.
2.2. Long-term target
Maintain stable growth and improve market increase at around 15% per year, with aim to become the service provider with best customer experience.
2.3. Programme of Action
Focus on improving customer experience by: (1) Satisfying customers throughout their use of the service; (2) Apply new technologies in customer support to ensure service quality, at the same time meeting diverse demands from customers; (3) Deploy new services on FPT Internet and FPT Television; (4) Improve international connection and bandwidth.
3.1. Market trend
Annual education demand for all levels, from elementary to university and post-graduate is around 19 million students.
3.2. Long-term target
Becoming an international Mega education system, meeting demands from the community, at the same time using the most advanced educational technologies.
3.3. Programme of Action
- Continue to expand education scale to increase access to new educational approaches for students, contribute to training of human resources for the society.
- Collaborate with Coursera to deploy Massive open online courses (MOOCs) for students.
- Expand high-quality cross-border study programs