Digital transformation (DT) is a vital trend for every business in the era of Industry 4.0. However, the cost of implementing digital technology is still considered a major barrier for many businesses, especially small and medium-sized enterprises (SMEs).
The Impact of Cost on a Business's DT Goals
According to a survey by the Ministry of Planning and Investment, only 36.7% of businesses have a budget to meet the DT needs from average to full levels. 43.3% of businesses have budgeted for DT investment but have not met the actual demand. More worrisome, 20% of businesses have no budget for DT investment at all.
Investment Budget Chart for Digital Transformation in Businesses (%)
According to the Ministry of Planning and Investment, over 60% of surveyed businesses admit that they have not yet undertaken DT due to the cost barrier. In particular, the cost of applying digital technology is still high for businesses, especially SMEs, which account for 98% of total businesses in Vietnam today.
Businesses believe that the cost of implementing and maintaining technology solutions is relatively high compared to other expenses that businesses have to bear. Meanwhile, the effectiveness of applying technology to production and business operations is not clearly demonstrated in the short term.
It can be seen that the cost factor is still an invisible obstacle on the digital transformation journey of Vietnamese businesses.
How to Overcome the Barrier?
Discussing the obstacles that businesses face, Mr. Vu Duc Nghia, Deputy General Director of Viindoo Technology Joint Stock Company (Viindoo), said that cost is not really a cause for concern in DT. Currently, digital technology solutions are very diverse with many different price levels, suitable for each specific scale and type of business.
In reality, SMEs' DT is more flexible and less expensive than large enterprises thanks to available solutions at an affordable price. Small businesses and startups can start their digital transformation journey with free technology solutions, such as the One App package from Viindoo Enterprise Management Software.
Starting Digital Transformation at No Cost
Previously, when approaching digital management solutions, small businesses and startups often expressed concern about investment costs. However, One App offers businesses the opportunity to choose and experience digital features, from Accounting, Sales, CRM, to Warehouse, Production, etc. From there, businesses can start DT without worrying too much about cost.
Gradual Transformation and Flexible Expansion
The One App package opens up opportunities to gradually realize the DT strategy for businesses. Instead of implementing a "big-bang" model across all departments, businesses can choose to transform gradually, helping employees gradually get used to the new way of doing things and adjust appropriately to the operational characteristics. This is also an opportunity for businesses to evaluate the benefits and risks before deciding to invest in a comprehensive solution for their entire production and business operations.
Free One App Package from Viindoo Enterprise Management Software
It can be said that the future of businesses in the Industry 4.0 era depends on their ability to receive and apply technology to serve DT. Resolving cost barriers is an important first step, helping businesses access and effectively implement digital technology in their production and business operations. The free One App package from Viindoo promises to bring new opportunities for Vietnamese businesses in experiencing the use of management software in particular and overall DT of their production and business operations.
Viindoo Technology Joint Stock Company - A provider of Enterprise Management Software to solve business challenges in the DT era. The integrated software package is unlimited: ERP (Enterprise Resource Planning), CRM (Customer Relationship Management), E-commerce, IoT (Internet of Things), Machine Learning, and Artificial Intelligence, meeting all management, operation, and growth needs of businesses.
Viindoo is honored to receive the Sao Khue Award for outstanding software products and solutions for three consecutive years. With the mission of a Science and Technology Enterprise, Viindoo is confident to accompany and support businesses in optimizing their DT roadmap, building sustainable competitive advantages in the market.
- Website: https://viindoo.com
- Hotline: 0225 730 9838