The relentless ebb and move of geopolitics, financial and environmental circumstances, and fluctuating labor and client markets all contribute to immediately’s fluid and unpredictable world panorama.
On this evolving economic system, the place your group conducts enterprise is simply as necessary as the way it operates.
The confluence of Vietnam’s geographic location and course of expertise has made it a digital hub that helps organizations flourish by changing legacy infrastructure and siloed operations. The nation affords a uncommon mixture of built-in options that makes it a quickly rising vacation spot for bold enterprises.
Overcoming Market Challenges
Success within the world market requires organizations to optimize operational prices, improve effectivity, scale operations, and foster strategic alliances inside home and worldwide ecosystems. Ahead-thinking enterprises similar to Apple, Intel, Qualcomm, Foxconn, Canon, Samsung, LG, LEGO, Schaeffler, Cox Automotive, Airbus, E.ON, RWE, and Halliburton have begun working with companions primarily based in Vietnam to ascertain digital transformation methods as a part of a holistic method to world enterprise.
Digital-native organizations primarily based in Vietnam have developed the technical experience and entry to expert personnel required to help efforts similar to constructing world provide chains, managing cloud infrastructure, using danger diversification, and enhancing efficiency optimization.
Unmitigated dangers can disrupt operations, hinder progress, and erode profitability. That makes danger diversification the important thing to insulating organizations in opposition to market volatility. Sustainable operations in fast-growing world markets require working with agile, resilient distributors and companions and making use of the right combination of expertise instruments to optimize efficiency.
Key elements for reaching profitability embrace velocity, scalability, vendor consolidation, and value containment. As well as, organizations doing enterprise in world markets might have native help on a variety of organizational and operational challenges, similar to the next considerations.
Vendor consolidation and world presence. This consists of companies designed to streamline vendor administration and help world operations. Vendor consolidation means each decrease prices and extra agile, adaptive, and environment friendly operations.
Migration and modernization. Digital transformation requires a transfer from legacy software program and infrastructure to cloud-based techniques. This motion helps organizations considerably enhance effectivity and scale back reliance on soon-to-be-discontinued mainframe merchandise and retiring mainframe specialists.
Synthetic intelligence (AI) and automation. These breakthrough options, particularly with generative AI, allow corporations to rework their methods of working, reinvent themselves, and obtain accelerated progress.
Expert labor. It’s vital that wherever world organizations find their operations they will entry a big and dependable pool of high-quality engineers, programmers, provide chain specialists, and world enterprise specialists.
Embracing Agile Greatest Practices
The enterprise local weather in Vietnam is conducive to international funding, export-oriented manufacturing, and technology-driven companies.
Vietnam’s economic system, one of many fastest-growing on the planet, is predicted to learn from the nation’s newly upgraded, complete strategic partnership with the U.S. Particularly, the brand new framework could encourage organizations primarily based elsewhere to diversify their operations by working in Vietnam.
World enterprises profit from regional and native companions that may information them on the best way to align individuals, processes, and applied sciences to drive innovation. Vietnamese expertise corporations are significantly well-positioned to work with organizations within the automotive, insurance coverage, well being care, and e-commerce sectors.
FPT Corp., a number one world info expertise and IT service supplier headquartered in Hanoi, operates in three core sectors—expertise, telecommunications, and training—and employs greater than 40,000 individuals. The company helps enterprises in a variety of sectors apply agile finest practices, similar to organizational collaboration and alignment and strategic sourcing, in Vietnam and past.
Cox Automotive, primarily based in Atlanta, labored with FPT to develop a consolidated strategic provider program. “We knew there have been value optimization alternatives, however that was not our main space of focus,” says David Brooks, chief expertise officer at Cox. “We believed that by having a strategic partnership in place, we might ramp quicker, fill any talent gaps, and allow flexibility in our workforce.”
Amongst different areas the place its automotive presence is rising, FPT is supporting the sector’s paradigm shift in Vietnam from gas-powered to electrical automobiles (EVs). Well being care organizations are using FPT’s Digital Well being Platform to boost efficiency, foster profitability, and cling to stringent regulatory requirements in Vietnam and different world markets. Insurance coverage corporations can even use FPT’s options to raise buyer expertise and optimize effectivity and value in operations.
Along with its expertise and telecommunications infrastructure, FPT’s world operations and various supply mannequin combines on-shore, near-shore, and offshore capabilities. This vary allows FPT to develop custom-made options that assist its companions implement digital methods, enhance efficiency, develop world networks, and rent expert native expertise.
Studying to Compete
Aligning training with business wants is a high precedence in Vietnam. Postgraduate training and coaching applications guarantee organizations can entry a pipeline of well-trained personnel for programming, administration, finance, human sources, and venture administration.
FPT College, the nation’s first privately owned college, makes a speciality of info expertise, enterprise administration, and international languages. Since its 1999 launch, this college has proved vital to Vietnam’s training spine, with a outstanding 96.5% employment price for brand spanking new graduates. The college additionally ensures a strong pipeline of high-quality younger expertise for FPT globally, with over 30% of scholars working at totally different FPT subsidiaries upon commencement.
To accompany Vietnam’s Digital Transformation Plan, FPT additionally promotes a number of training initiatives to organize for a nationwide labor power of fifty,000 semiconductor engineers by 2030. One current initiative is the newly opened Semiconductor Circuit College at FPT College. As a part of the corporate’s current partnership with Touchdown AI to drive software of and training in AI, FPT may even develop a complete AI curriculum for Vietnamese college students from grades 1 by way of 12.
Success within the world market requires organizations to work with trusted companions that may assist them recruit expert employees and implement digital instruments that help resilience, optimized efficiency, and sustainable progress. More and more, organizations are taking part in to win in Vietnam by constructing cross-functional, expert groups and implementing revolutionary expertise inside the nation’s quickly increasing economic system.
Find out how FPT can assist your group begin its digital transformation journey in Vietnam.
