During the “Efficiency breakthrough in business operation” conference, hosted by FPT Corporation on the recent August 4, 2020, businesses’ success stories regarding digital transformation at various fields had been closely analyzed by esteemed experts.
In the webinar, experts from Deloitte and FPT had together shared experience, as well as business operational and digital transformation procedures for almost 800 attending companies. The event also welcomed Mr. Le Hong Viet – CTO of FPT, Mr. Phan Thanh Son – Head of Business Development at FPT IS, and Mr. Nguyen Xuan Viet – CTO of FPT IS.
Alongside FPT representatives were guest speakers from Deloitte – one of the “Big Four” accounting firms, a title bestowed due to their large network of professional services worldwide and expertise.
A high hurdle for many Vietnamese businesses
As the conference began, Ms. Tran Thi Thuy Ngoc – Deputy President of Deloitte Vietnam, had confirmed the problem of efficiency breakthrough and improvement in business operation to be a common question, regardless of the COVID-19 outbreak or economical booms and regressions. In front of a such a problem, according to her, businesses should take a step back to see their own positions, and to know whether they have met their target, what markets should they focus on, if they had had enough results for performance. Then, the next step would be to focus on their desired customer segments via customer experience.
Mr. Nguyen The Manh – Senior Head of Department at Deloitte Vietnam, meanwhile, had said: Businesses need to ask themselves how to generate more values from their spent resources? In the current age, it is not scale, but rather speed, that matters. Businesses therefore will have to “go fast or go home”, especially if we are talking about the importance of digital transformation.
Take example of when Deloitte was working with a non-life insurance company. Here, 80% of the firm’s insurance sales process is about delivery and storing of profiles – which are basically of no value from the customer’s perspective. Now, we are having plenty of support systems for automation and standardization like API, AI, robot… to improve efficiency. “But first, businesses need to ask themselves about their needs, areas that require improvements, before seeking suitable technological solutions,” said Mr. Manh.
Solutions for increasing competitive advantages
As a tech expert, Mr. Nguyen Xuan Viet – CTO of FPT IS, believed that digitalization and digital transformation are no longer challenging for most businesses.
The FPT representative pointed out the 4 major solutions that can be immediately performed by businesses to counter crises brought forth by COVID-19. In particular: The Marketing and Sales solution will help recover consumption; The Finance and Cashflow will assist in risk management and cash control; The Operation and Supply chain solution meanwhile will help connect the supply chain for to ensure constant operations as well as expand the firm’s ecosystem; and finally, the Administration and HR solution will help businesses to quickly adapt to remote working and training, for better staff health and effective work management.
Mr. Viet also shared both success and failure stories in digitalization and automation of operational procedures. Before, to solve one problem, a business will need an average of 40 hours. However, digitalization had reduced the number down to 3. And if applied in large businesses with scale of thousands of employees, then we can see exponential improvements in efficiency.
The digitalization and automatic work delegation product FPT SPro, deployed by FPT, is helping businesses to create intuitive processes in a quick manner. With the system, managers will also be able to accurately pinpoint bottlenecks, their causes (human or non-human), and everything will be transparent via numbers. These are important conditions to accurately evaluate HR quality.
According to Mr. Nguyen Xuan Viet, FPT Spro resembles a transitional center, which connects preexisting systems in the business to assist management. The system also includes upto 350 preset procedures, which companies can utilize at any time.
Beside FPT Spro, FPT also own other series of products for process automation and work efficiency improvement like akaBot – which minimizes the need for human interaction, thus saving both cost and time; or FPT.AI Vision – which helps to digitalize physical data and images, and is thus useful for management.
By imitating repetitive tasks and movements and using different business resources, akaBot can automatize a wide variety of procedures in different fields e.g. banking, insurance, retail, transportation, production… Meanwhile, FPT.AI Vision focuses on automatizing Cognitive RPA procedures for businesses, image identification, form detection, and OCR (Optical Character Recognition). The product provides comprehensive automation solutions for administrative tasks via digitalizing and storing all basic personal documents like ID card, Driver license, Bills… then simplify them to general samples.
“This ecosystem sets the stone for smart automation, as well as human and machine collaboration, thus create breakthroughs in efficiency and new experiences in interaction with customers,” said an expert.
Mr. Le Hong Viet – CTO of FPT confirms: FPT is also trying to find paint points of businesses, and help them choose and effectively apply technological products. Those of FPT on the market can be bought as subscription, at the rate of just a couple dollars for one user. Therefore, SMBs can utilize these products, without heavy investments in IT infrastructure. “The business can immediately start using without any initial cost.”
The Deputy President of Deloitte also believes that the smaller and simpler the business, the easier digital transformation will be. A small business will see clear differences upon application, with “quick win” results, where risks become opportunities, and opportunities lead to success. Ms. Ngoc also encourages small firms to take the lead, as systems nowadays are very open-sources, and can be used to build effective and constant databases – a “valuable asset” to businesses.
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