Vietnam has quickly emerged as a potential IT hub in Southeast Asia. Acknowledging that ICT is a vibrant and promising field to fulfill comprehensive digital transformation, Vietnam’s government and businesses have made great efforts to accelerate its technology landscape by emphasizing automation adoption.
Table of Contents
Automation landscape in Vietnam
Overview
Mr. Do Manh Cuong, Deputy Secretary General of the Vietnam Automation Association, said that Vietnam has reached the third stage of automation, which involves the implementation of advanced technologies, including data access and high-speed connections, AI-based intelligent automation, and data-driven operations. Out of 7 automation levels, most Vietnamese organizations stay between levels 3 and 5, or partial automation, according to the Vietnam Automation Association.
On the other hand, current and planned automation levels in Vietnam are surprisingly high. Cekindo indicates about 10% of the organization’s operational tasks in Vietnam have been automated within the past three years, and the figure is expected to grow to 25% in 2023. Besides, 67% of foreign and domestic businesses plan to automate new tasks in the next 3 years, while 75% will leverage automation for existing tasks.
Businesses in Vietnam are driven by the impact of increased automation on current, employment and future recruitment plans. According to the Vietnam Business Forum, 12,6% of domestic businesses have increased employment in the workforce due to automation, while 35% plan to remain at the same employment levels, and 27% intend to reduce them.
Opportunities for implementing automation in Vietnam
The future outlook for Vietnam’s automation adoption is positive, with growing opportunities for continued growth.
Government support
As of 2023, Vietnam has become one of the attractive magnets for innovation and tech investment in Southeast Asia. Vietnam has identified ICT as a major industry to develop the economy. Therefore, the government has made significant strides to promote the growth of the country’s technology sector by implementing several initiatives and attracting investors from all over the world in recent years.
Digital transformation is inevitable for unlocking automation initiatives in Vietnam. Significantly, the country recently adopted the National Digital Transformation Programme through 2025 and orientations towards 2030. The dual purpose is to enhance the digital economy’s growth and establish a comprehensive roadmap for businesses to implement digital transformation for enhanced production, business efficiency, and competitiveness.
The attitude of Vietnamese toward technology adoption
According to PwC’s report on Vietnam’s Digital Readiness, 89% of surveyed respondents believe that automation’s opportunities outweigh the risks. Besides, 43% of respondents say they aspire to excel in learning and adapting to new technologies, while 34% want to build expertise in specific technologies. These results, which are significantly higher than those at a global level, suggest that Vietnamese have a strong urge to stay relevant in the ever-changing landscape of the digital age.
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The case study below is a demonstration of how akaBot actualized TPBank’s automation vision with our RPA solution.
Challenges
TPBank sets the goal to become one of the leading banks in digital transformation and automation in Vietnam. The bank needs to deploy comprehensive automation of the whole business within a short time to achieve undisruptive operation and cost-cutting efficiencies while ensuring high accuracy levels and interaction with other complex systems.
Solution
TPBank automation project started with Proof of Concept (PoC) and the Pilot phase with a small process group. The implementation team selected less than 10 processes with low to medium complexity to prioritize the application of RPA first (Fast Automation).
After that, TPBank entered the “Mass Automation” phase, delivering 400+ automated processes at 15 divisions.
Results
- Automate up to 30% of current tasks
- Ensure 24/7 continuous operation
- Reduce error rates by 98%
- Decrease task processing time by 80%
- Reduce operating costs by up to 40%
With the akaBot’s application, TPBank and FPT were recognized as the “Best Process Automation Bank” award at The Asian Banker Vietnam Award 2021.
From 2022 to 2023, the automation project between TPBank and akaBot (FPT) is expected to be expanded more in the coming years, setting a record in Vietnam’s BFSI as one of the biggest RPA projects with hundreds of processes to be automated.
To quickly harness the power of automation and unveil the potential of digital transformation, contact us today.
References
Automation in Vietnam Driving Economic Innovation & Industrialization
Combining AI with automation: the key to a business breakthrough
Vietnam’s ICT Industry: A Dynamic Market for Foreign Investment
Vietnam Digital Readiness Report
Vietnam’s automation future at work
VIETNAM’S INNOVATION AND TECH INVESTMENT LANDSCAPE IN 2023
akaBot (FPT) is the operation optimization solution for enterprises based on RPA (Robotic Process Automation) platform combined with Process Mining, OCR, Intelligent Document Processing, Machine Learning, Conversational AI, etc. Serving clients in 20+ countries, across 08 domains such as Banking & Finances, Retails, IT Services, Manufacturing, and Logistics…, akaBot is featured by Gartner Peer Insights, G2, and ranked as Top 6 Global RPA Platform by Software Reviews. akaBot also won the prestigious Stevie Award, The Asian Banker Award 2021, etc.
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