FPT IS proposes strategies to boost finance in the digital era
In a recent session at the Hanoi CFO Forum, experts from FPT Information System Corporation (FPT IS) presented strategic plans aimed at assisting businesses in overcoming financial barriers, streamlining operations, and fostering growth through the application of technology.
According to the VCCI’s PCI (Provincial Competitiveness Index) 2022 Report, the biggest challenge for Vietnamese private enterprises, especially micro-enterprises, is accessing credit. During the period of 2017 – 2021, there has been a gradual decline in the proportion of businesses securing loans from banks, a trend that became more pronounced in 2022. Data extracted from the report underscores that a substantial 55.6% of businesses express concern over access to financing, with an additional 56.7% reporting challenges in obtaining bank loans.
During the “Macroeconomic Outlook – Shaping the Future of Finance: Application and Transformation” speech at the event, Ms. Nguyen Thi Phuong, Director of Digital Transformation Consulting for the Enterprise sector at FPT IS, underscored the challenges faced by SMEs, including limited capital resources, constrained financial capacity, and management capability. Additionally, she pointed out that the most challenging issues for these enterprises revolve around untransparent financial data and a lack of collateral, presenting hurdles for banks to assess and consider credit approvals.
Ms. Nguyen Thi Phuong, Director of Digital Transformation Consulting, Enterprise sector, FPT IS, giving a speech at the event.
Ms. Phuong suggested that businesses enhance their credit accessibility by implementing integrated management systems and adopting high-tech applications for process automation and optimization, while also keeping abreast of emerging technology trends.
“Integrating an ERP system with AI offers businesses a pathway to enhance their credit accessibility. ERP streamlines processes, automates tasks, mitigates risks, facilitates strategic planning, and enhances organizational capacity and compliance, thereby bolstering credibility and credit accessibility. With extensive ERP implementation expertise in Vietnam and partnerships with industry leaders, SAP and Oracle, FPT IS is poised to assist businesses in overcoming operational challenges,” stated Ms. Phuong.
The FPT IS representative further advocated for the utilization of the ‘Made by FPT’ product ecosystem for a successful digital transformation roadmap. Developed on core technology platforms such as AI, Blockchain, Cloud, IoT, and Lowcode, FPT’s solutions offer broad applicability across various sectors, enabling businesses and organizations to accelerate the digital transformation journey, enhance productivity, streamline costs, and optimize resource utilization in addressing challenges.
At the exhibition area, FPT IS showcased an array of comprehensive solutions designed to support businesses throughout their digital transformation journey, including Human Resources and Payroll Management solution FPT.iHRP, Electronic Contract solution FPT.eContract, Remote Digital Signature solution FPT.eSign, Electronic Invoice solution FPT.eInvoice, Automatic Input Invoice Processing solution FPT Digital Accounting, Centralized Procurement Management solution FPT.eProcurement, and Electronic PIT Deduction Document Management solution FPT.ePIT.
FPT IS introduced comprehensive solutions designed to support businesses’ digital transformation journeys at the event’s exhibition area.
The Hanoi CFO Forum 2024 presents a valuable opportunity for CFOs, business leaders, and senior financial administrators to convene, exchange insights, share experiences, and collaborate on practical solutions aimed at enhancing operational efficiency and fostering sustainable development.
Under the theme “Shaping the Future of Finance: Innovation, Application, and Transformation,” the Forum strives to foster creativity aimed at generating tangible value. Central to its objectives is the dissemination of core knowledge and emerging financial trends, facilitating businesses in optimizing financial efficiency. Additionally, the Forum aims to cultivate proactive strategies to navigate challenges and capitalize on opportunities, particularly in the 2024-2025 period marked by persistent difficulty and uncertainty.
