Forrester digital transformation

Accelerated digitalization According to a Microsoft study conducted in the Asia-Pacific region, 98 percent of innovative enterprises believe innovation is the key to quick response to market challenges and opportunities, and 56 percent of CEOs of large enterprises confirm that digital transformation helps increase revenues. In general, companies that conducted successful digital transformation yielded 23 percent higher profits than those that did not. The banking industry conducted fast digital transformation to adapt to the pandemic For large-scale enterprises this means a unified management system through mobile applications, helping customers integrate and manage information when using different services, whether paying electricity bills, shopping or buying leisure services. According to Nguyen Hoang Ngan, General Director of the Binh Minh Plastic Joint Stock Company, the only positive outcome of the COVID-19 pandemic was acceleration of the digital … [Read more...] about Vietnam makes digital transformation leap

Matthias Rebellius, Member of the Managing Board Siemens AG; CEO of Siemens Smart Infrastructure It is in electric grids that use AI to balance fluctuating input from renewable wind turbines and solar panels. It is also in accelerated vaccine production to protect people from the pandemic, as well as in railway networks that can handle 30 per cent more trains without the need to lay any new tracks. The changes brought by the Fourth Industrial Revolution are nothing short of amazing. Digital technology saves lives, enables teams to collaborate remotely from anywhere, and gives companies a competitive advantage by making everything more efficient. Yet for all its promise, digital transformation can be complex. Deploying digital technologies and integrating them into existing systems can be difficult. And it can be hard to scale them up once you have proof of concept. The investment costs in the hardware and software can be prohibitive, and engineers often spend many months … [Read more...] about Siemens Xcelerator: digital transformation made easy

EVN contributes to realising national digital transformation goals. (Photo: EVN) Hanoi (VNA) – Electricity Vietnam (EVN) plans to nominate three of its self-developed automated products as “Make in Vietnam” ones as part of its efforts to contribute to the Government’s national digital transformation programme by 2025, with a vision to 2030. The three are among the six selected “Make by EVN” products developed by its affiliates, including three-phase electricity gauge, EVN electric vehicle charger, and smart remote fault indicator (SRFI) and fault diagnosis scheme (FDS) by the Central Power Corporation (CPC); outage management system (OMS) by the Ho Chi Minh City Power Corporation (EVNHCMC); remote data collection software EVNHES by the EVN Information and Communications Technology Company (EVNICT); and the load dispatch digitalisation project by the Hanoi Power Corporation (EVNHANOI). The corporation has accelerated digital transformation over the past several years, … [Read more...] about EVN contributes to realising national digital transformation goals

Employees of PV GAS (Photo: pvn.vn) By gradually digitising business, production and management, the corporation has been bringing higher added value to its customers and partners, and meeting the market demand. According to PV GAS, in early August, the 110,000th digital signature file was signed in PV GAS' digital signature system, equivalent to about 450,000 signatures. This is an important milestone of PV GAS in digital transformation, significantly contributing to reducing time for processing documents and increasing production and business efficiency. The firm’s digital transformation is implemented concertedly and consistently with the digital transformation process of PetroVietnam to take advantage of the infrastructure system and database, and promote the efficiency of the sector’s value chain. Along with solutions to promote digital transformation in terms of technology infrastructure, PetroVietnam has also been promoting the concerted implementation of "Digital … [Read more...] about Digital transformation helps PV GAS improve competitiveness

Participants in the discussion Deputy Director Le Anh Dung of the Payment Department (under the State Bank of Vietnam – SBV) affirmed that SBV has priorities in its digital transformation process. The first one is developments in the operative infrastructure and digital payment systems. Using digital technologies in product and service design is also a clear focus of SBV. Digitizing data and forming a digital ecosystem to offer secured products, services to clients on electronic devices is essential in the digital era. Therefore, SBV has cooperated with the Public Security Ministry to make good use of the national population database for the identification and authentication processes in order to provide safe, quick, convenient, and reputable services. Also, since 95 percent of banks in the country has already devised their digital transformation strategies, SBV is actively trying to master advanced technologies like cloud computing, big data analysis to upgrade its main IT … [Read more...] about Banking industry investing VND15 trillion in digital transformation

Prime Minister Pham Minh Chinh addresses the forum (Photo: VNA) Hanoi (VNA) – Prime Minister Pham Minh Chinh on September 23 chaired a forum on collective economy and cooperatives, which focuses on the role of digital transformation in the development of the sector. The leader underlined the significance of digital transformation as a compulsory task in the national development. Meanwhile, the collective economy is an obvious trend during international economic integration, which is suitable to the socialist-oriented economy, he said. Resolution No.20-NQ/TW released at the fifth session of the 13th Party Central Committee clarified that the collective economy is an important economic sector that needs to be reinforced and developed and, together with the State-owned sector, to become a firm foundation for the national economy, he noted. The Government leader said that over the years, the collective economic sector has seen strong growth in all aspects, including … [Read more...] about PM chairs forum on digital transformation role in collective economy, cooperatives