Everyone is talking about digital transformation and innovation, Vietnam Insider has been following the digitization in Vietnam for a while and wanting to answer our readers’ tough questions through the years.
This week, we talk to Thao Nguyen, Co-Founder/Chief Executive Officer of XsperaApac, a fast-growing digital technology product company in Vietnam; and especially in APAC region about this topic.
Thao Nguyen has 14+ years in banking, insurance, and financial services, being responsible for business operations, digital transformation, and change management. She was appointed to Strategy and Planning Specialist at VIB Bank and went through different roles such as Branch Manager, WB Key Account Manager and variety of leadership roles.
Given your extensive knowledge of Vietnam’s digital transformation services, we’d like to hear your thoughts and advice on how enterprises in Vietnam should respond to the trend?
Digital transformation is happening right now, right here, it’s unstoppable and is happening at a lightning speed. The Digital revolution will bring enterprises new opportunities and challenges; by digitizing and automating their supply chain and processes, enterprises could meet the increasing demands and expectations from customers and by structuring their data for efficiency they can develop new insights and processes; therefore, enterprise should fully embrace digital transformation.
Moreover, Digital transformation is the key to enterprise success, it’s a simple effort creating ambitious outcomes Enterprise need to hire the right talent for data analysis, implement the right tools and platforms to create better customers and/or working experience by integrating seamless, automated technology.
People said, digital transformation is about talent, not technology. What’s your thought?
A: We do think digital transformation is about talent and less about technology and here at XsperaApac, we always have our staff at the forefront of digital innovation to assist our customer needs.
You can buy any technology, coding or digital tools, but the ability to adapt the new technology, how it should be used depends on the people’s skills.
The Economist magazine once noted the most potential and yet obvious consequence of COVID-19 pandemic is: “the infusion of data-enabled services into ever more aspects of life”. It emphasizes the fact that Big Data and Digital Transformation is taking over when human interaction is becoming less and less. It is all about the right human minds that can make technology useful, people are critical to this technology integration as the saying goes “a fool with tool is still a fool”
How about the digital transformation benefits and who should be in charge of transformation efforts?
Digital Transformation’s benefits are enhanced data collection, increase agility, data-driven customer insights and so on. Because of these benefits, enterprises are racing to adapt first, implement new technology and gain the advantage first.
We usually ask these questions when we are finding the right team leader.
1. Does this person know enough about the current business strategy? There might be a small gap between business demand and the technology tool required, we need to find the right business intelligence to understand trends and to harmonize between the human and the technology.
2. Does this person understand our clients? We expect our project leaders at XsperaApac to be the best at linking technology to the business needs ; connecting the client’s needs and finding the right technology tools to help our customers gain a competitive advantage
3. Can this person work in an agile environment? Digital transformation requires a quick and timely response, will this leader have the ability to keep up?
4. Should this person be trusted? Last but not least, the project leader should be the person that assures their employees as well as their clients. If they can fulfill all the requirements but cannot be trusted, they are not fit to lead projects for us at XsperaApac.
The same questions should be asked for the enterprises as well. Do they meet all requirements to be digital transformed and do they have the right human skills?
Can digital transformation help them to become a dominant local or regional player in their industry?
The answer is YES to both. Digital transformation can help enterprises to become a dominant local and regional player in the industry. Organizations should focus locally before expanding regionally.
Digital transformation benefits all aspects of our customers business and increases their competitive advantage When enterprises can find the right technology that best fit their organizations strategy , they can become the number 1 local player in their industry. To become a regional player, they would need to have a better understanding and knowledge about trends in the region.
Enterprises should dream big and start small.
It is exciting to help shape the digital transformation, how digital transformation is driving the customer experience? When to kick-start digital transformation in an enterprise?
Technology has already changed consumer behavior. With mobile devices, machine learning, apps and more already providing the customer whatever they want exactly at the moment they want it. This has raised the customer’s expectations; they know what to do with technology. They always have their portable devices, connected to the internet at all times, resulting in more sophisticated consumers.
Being sophisticated consumers, they will command a higher quality of service and will check the customer experience rating before using the services itself.
With that being said, companies are feeling the pressure of digital transformation. The answer should be it depends on the organization. Before adapting a new technology, they should fully understand the capabilities and also the risks of digital transformation. They should ask these questions:
- How urgently should they be digitalized?
- What is the ROI when they decide on digital transforming? What is the RISK if they do not?
- While the technology is being replaced, will the existing applications and workflows be able to meet the customers’ needs?
- What are the risks and benefits involved ?
By asking these questions to understand the situation, organizations can have a better vision of what to do when it comes to digital transformation. If they are not ready and committed to making digital transformation, then they might bring more harm than benefits. The critical question is what happens to their business if they do nothing? Will they still exist in 5 years?
What can XsperaApac support the business owners to develop agility in delivering transformation journeys?
On the journey of digital transformation, we partner with Microsoft, offering a powerful platform and agile technology such as Power Platform, Power Apps and so much more. We also cooperate with several different cloud computing partners such as: Amazon Web Services (AWS) or Private cloud to provide our clients with a variety of options through the digital transformation processes.
Moreover, we have developed several business applications ready-to-use for organizations which support them to expedite their digitization with less effort in a much shorter time.
Thao Nguyen and XsperaApac’s team
XsperaApac has 15+ years of experiences in consulting digital transformation for organizations, we have seen and experienced numerous organizations in their journey of digital transformation as well as high profile and complicated transformational projects. We are the most experienced team in Vietnam for such projects.
We are confident to say to business owners that are trying to partner with technical teams that we can offer a comprehensive vision, deliver a step by step process and be assured with a successful outcome.
XsperaApac brings our clients a combination of tech professional with industry knowledge who can understand our clients core business and can deliver successful outcomes through agile technology. XsperaApac is the best combination of technology experts with specific industry knowledge in banking, insurance, education and human resources.
We will use our user-friendly software products to solve your business issue, let XsperaApac be your partner on your journey to digital transformation.