Digital transformation in Vietnamese enterprises has become an essential, inevitable, and objective requirement for the business community to remain resilient and grow.
Digital transformation and its benefits for Vietnamese enterprises
Digital transformation in enterprises can be understood as the process of shifting from traditional business models to digital enterprises, based on the application of new technologies such as Big Data, IoT, cloud computing, etc., in order to transform management methods, workflows, and corporate culture. The goal of digital transformation is to achieve comprehensive development, including enhancing competitive positioning, driving revenue growth, improving labor productivity, and expanding the ability to attract and retain customers.
Digital transformation brings numerous benefits to enterprises. When applied, information across departments is connected through a unified technology platform. This enables issues arising within the business to be addressed immediately, ensuring smooth operations and avoiding negative impacts such as delays in customer service or declines in sales. At the same time, this connectivity allows managers to proactively and easily access reports on business activities. All operations—such as revenue tracking, workforce changes, and customer data—are reflected in enterprise management software, helping improve efficiency and transparency.
Digital transformation also helps enterprises fully leverage employees’ capabilities. Low value-added tasks can be automated without additional costs, allowing employees to focus on enhancing their expertise and handling more important responsibilities. It also enables managers to evaluate employee performance more effectively through timely reporting data.
With a digital platform in place, business leaders can operate more efficiently, accurately, and effectively, as digital management solutions enhance the quality and precision of decision-making. Moreover, digital transformation strengthens competitiveness by optimizing management, costs, and profits, enabling faster customer interaction, and improving customer service policies.
Under the impact of the Fourth Industrial Revolution, digital transformation has become an inevitable trend and a matter of survival for enterprises. Significant changes in labor productivity, consumer demand, behavior, and new business models are reshaping society and industries. As a result, digital transformation affects all sectors, and in the race toward digitalization, only enterprises that can adapt proactively and effectively will survive and grow.
Experience in digital transformation from BuyMed in the pharmaceutical sector
Developing amid digital transformation, BuyMed is a startup operating the e-commerce platform Thuocsi.vn, distributing pharmaceuticals directly under a B2B model. The company focuses on providing medical products, medicines, and healthcare solutions to patients. BuyMed’s ambition is to revolutionize healthcare services in Asia by making them more affordable and accessible.
However, there is a clear gap between the reality of digital transformation and expectations regarding its effectiveness. Although BuyMed has worked with more than 2,000 pharmaceutical companies and reputable suppliers, offering over 35,000 products, it still faces market barriers that make customer acquisition challenging. In addition, issues such as counterfeit drugs and misleading product promotion have negatively impacted pharmaceutical distributors, leading to revenue declines.
Policy factors and access to policy are also major challenges for enterprises in digital transformation associated with innovation. Limited access to government support policies for digital transformation can cause businesses to miss development opportunities.
Speaking at the forum ‘Innovation in the Context of Digital Transformation and Sustainable Development,’ organized by the Journal of Economics and Forecasting on the morning of June 5, Vuong Dinh Vu – Director of BuyMed – noted that the company has applied digital platforms to effectively address fragmentation issues. During operations, arising problems are monitored and resolved through innovative solutions, enabling outcomes to shift in the most positive direction. Innovation can range from redesigning product packaging toward a circular model to applying product labeling for monitoring the transportation process.
As a member of the Vietnam Pharmaceutical Enterprises Association, Vuong Dinh Vu expressed his hope that authorities and relevant agencies would establish industry standards as a basis for consistent implementation, thereby enhancing product transparency and benefiting consumers. At the same time, regulatory mechanisms should aim to ensure coherence and avoid overlap, which can lead to resource inefficiencies.
