Why are companies implementing digital transformation initiatives? CIO Rahul Shinde of Duy Tan Plastics Manufacturing Corporation People and culture must come before the technology to unlock the full potential of digital. The companies have been transforming for the last 30-40 years using technology and we have seen many phases of development and transformation to respond to the changing business climate. However, what is different today is that in the recent past, the pace, cost, and volume of technical innovation has accelerated the way businesses adopt technology and hence today’s transformation is happening via tools, processes, and data that is driven through digital channels. With a new breed of online companies providing enhanced customer experience using new online marketing channels, providing digitally-enhanced products, and utilising cloud technology to engage and service customers utilising data-driven insights, and customers embracing the same has … [Read more...] about Adopting tech changes: a must in the digital age
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As Vietnam is going cashless, new payment services are popping up across the market to capture users Photo: Duc Thanh The era of digital payments Some 57 per cent of Vietnamese respondents in a survey carried out by Visa Inc. last year were confident to go cashless for three consecutive days. This percentage was the highest among regional nations, with only 42 per cent of Singaporeans and 37 per cent of Thais stating they were ready to go cashless for the same duration of time. Indeed, there is no need to carry cash around, since the digital payments industry in Vietnam has grown stronger than ever, evidenced by the arrival of foreign mobile payments services like Samsung Pay last September or Apple Pay and other mobile payment platforms that are about to debut here in the upcoming months. According to EY’s ASEAN Fintech Census 2018, in the Asia-Pacific region, social media platforms, e-commerce players, and on-demand service providers–like ride-hailing Grab with … [Read more...] about A cashless economy on the horizon
The 2 - kilometer Nguyen Trai street beginning from Nguyen Van Cu street to the intersection Tran Phu- Nguyen Duy Duong is set as fashion street. Before, the district administrator established some streets such as herbal street, lantern display street, and jewelry street. Now, the new fashion street is expected to contribute to push up the district’s tourist development particularly and the city generally. In Nguyen Trai street, six stores are certified as qualified shops to serve tourists. The administration has received registrations of 187 units in the street whose owners pledged to ensure quality, high-quality services, and abide with regulations. Established naturally as per city dwellers’ buying habit, the street had several stores to sell clothes and shoes at first but later more shops were opened to different fashion items. People from many places flock to the street to buy clothes and fashion accessories; especially in weekends or holidays, the street is … [Read more...] about District 5 opens fashion street
Phu Nhuan Jewelry Joint Stock Company (PNJ) has said it will further expand its retail network and online sales and carry out customer segmentation to offer tailor-made designs meeting the needs of every customer. Speaking at the company’s annual general meeting in HCM City last Saturday, chairwoman Cao Thi Ngoc Dung said the company targets VND14.195 trillion (US$662.58 million) in revenues and VND882 billion ($38.68 million) in net profits, 30 per cent and 22 per cent higher than last year. Revenues from online sales are expected to rise five-fold to VND150 billion this year and at least VND1 trillion by 2021. The company would also open at least 40 stores this year to increase the total number to more than 300, she said. Two subsidiaries, PNJ Production and Trading Ltd and Customer Era Ltd, would be set up for trading jewellery, precious metals, precious and semi-precious stones, gold bars, souvenirs and gifts, import and export gold jewellery and import and distribute … [Read more...] about PNJ to expand retail system, online sales
After the launch of Vietnam’s first QR code store in Ho Chi Minh City, Hanoi is also planning to pilot similar stores in 2018, aiming to boost the development of e-commerce in the capital. However, with only five million Vietnamese people using QR codes to pay, it remains a question whether these new stores will become popular in Hanoi. A vending machine at Hoan Kiem Lake The information that Hanoi will pilot QR code stores raised hopes that these stores will be more user-friendly than current vending machines or other convenience stores. Lien (Cau Giay district) said, “It is necessary to open QR code stores in Hanoi, because payment via QR code is easier than other forms. For example, with payment via QR code, I never need to worry about how much cash I have on me or if the change is correct." Nguyen Hau (a tourist in Hanoi) told VIR, “Young people like us value convenience and quick service above all, so I think applying QR code in convenience stores is a good … [Read more...] about Will QR code stores become the new craze in Hanoi?