The e-Contract solution FPT.eContract aims towards building a paperless business with optimal operations, saving up to 70% of time and costs compared to traditional methods.

Many businesses nowadays still use traditional methods in sighing and managing contracts, including printing and deliveries between parties, which leads to certain time limits and interruptions, especially in case of force majeures. A clear example to this is the recent COVID-19 outbreak, where all activities are postponed, with heavy impacts on work progress. Management, generation, and extraction of the traditional physical data storages are also extremely consuming in both time and resources of businesses.

To solve such matters in a completed manner, especially during the “new normalcy”, FPT had officially deployed FPT.eContract – a pioneering solution for digitalization and automatization of contract procedures between businesses/partners/individuals, at the same time optimizes operations and improves customer experience. This also an outstanding product among FPT’s many digital transformation solutions, with high promises of creating a revolution in contract signing for Vietnam’s future business and commercial activities.

Interface of FPT.eContract’s main work page. Photo: Vtv.vn.

FPT.eContract is the first system in Vietnam that allows complete performance of all procedures from creating contracts, signature role delegation, signing and storing, and contract management – all on one single digital platform. With the solution, businesses can easily sign individual contracts, or do so in large, unlimited amounts at the same time, in mere minutes.

For contracts with multiple review and signing levels, FPT.eContract can also create automatic sighing flows, suitable for different demands of businesses. Businesses can perform signing using the USB token e-Signature on Cloud, or by images (application for internal contracts or by request).

FPT.eContract can be applied in all types of businesses, as well as all types of digital contracts, documents, and verifications. By transforming from traditional signing methods to remote e-Contract signing with FPT.eContract, businesses can save up to 70% of signing cost and time thanks to the following advantages:

1. Paperless signing with no interruptions

Aims at building paperless businesses, the solution assists in creating legal e-Contracts in the shortest times, suitable with all current e-Signature technologies. With it, businesses no long have to waste money on contract printing, delivery, as well as storage. This eliminates the risk of losses and interruptions occurred due to external influences.

2. Automatizes and simplifies procedures

Businesses and their partners can easily customize, directly fill, and perform online reviews on various levels on multiple devices. The signing procedures will also be automatically sent to relevant parties without accounts on the system. Furthermore, contracts are all stored on the digital platform for easy management, storage, and searching.

3. Ensures legal validity and maximizes security

FPT had built the FPT.eContract solution in compliance with all relevant Laws, Regulations, and Decrees, particularly: Law no. 51/2005/QH11 of November 29, 2005 on E-transactions acknowledges the legal validity of e-Contracts, and Decree 130/2018/ND-CP details the implementation of E-Transactions Law on digital signature and digital signature certification services. The system also utilizes security solutions which prevent attacks and losses of data on a 24/7 basis, so businesses can rest assured while signing and storing/managing their contracts on the platform.

Mr. Nguyen Hoang Minh, President of FPT Information System (the unit that had developed FPT.eContract, FPT Group) had affirmed that: “After decades of working with Vietnamese businesses, FPT had understood business problems during operations, as well as learned how to solve those with technological solutions. With FPT.eContract, FPT hopes to bring better and quicker business operations, at the same time provide digital and digital business building experiences, all to assist businesses in their adaption with the ‘new normalcy’”.

FPT.eContract is one outstanding products among FPT’s many digital transformation solutions (https://solutions.fpt.com.vn/), which aim to assist business in digital technology applications for cost-saving, operation optimization, and appropriate HR usage, and from here provide adequate stepping stones and motivation for Vietnamese businesses to recover and break through during the “new normalcy”.

Thao Chi

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