Digital transformation is essential for businesses to seize market opportunities

The seminar on the challenges and opportunities of small and medium-sized businesses (SMEs) in digital transformation was co-organized by the Ho Chi Minh City branch of the Vietnam Chamber of Commerce and Industry (VCCI) and WorkIT Joint Stock Company on July 14. According to event participants, COVID-19 has affected all business operations. Specifically, enterprises have been confronted with obstacles such as customer access, cash flow, workforce retention, and supply chain disruptions.

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The business community, particularly SMEs, must quickly restructure and transform their business models to embrace innovation in order to recover and expand production, they said.

According to Phi Anh Tuan, Vice Chairman of the HCM City Informatics Association, a large number of market suppliers make it difficult for businesses to choose the appropriate digital transformation solutions, technologies, and consulting units.

They also need to establish a department for data analysis, generate digital assets, and develop a management system to take advantage of digital resources, he added.

Quach Ngoc Long, general director of WorkIT Joint Stock Company, stated that businesses have a high demand for digital transformation. Adding that digital transformation is a journey of technological integration following a long-term road map with a flexible strategy to meet market trends, he stated that enterprises must change their mindset, devise a detailed strategy, eliminate barriers, and start with their existing infrastructure.

Director of the VCCI-HCM city branch Tran Ngoc Liem noted that the organization has been working hard to bring effective solutions for digital transformation to the area, and that it encourages partnership with a variety of partners to provide solutions and applications of digital transformation suitable for companies in various industries.

During the seminar, the VCCI-HCM City branch and WorkIt Joint Stock Company signed a Memorandum of Understanding on a programme to support 1,000 SME digital transformation.