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Outsourcing unlocked unbelievable worth for main enterprises and lifted the financial fortunes of China, India, Japanese Europe, and Latin America.
Now it’s Vietnam’s flip. This vibrant nation has every thing it must turn into a brand new chief on the worldwide outsourcing and digital transformation stage. Right here’s how Vietnam and FPT Software program, a $2B world IT companies supplier, meets the wants of the C-suite at world enterprises:
Cut back value and danger by discovering new outsourcing alternatives: As an rising outsourcing companion, Vietnam gives distinctive worth to enterprises. Vietnamese corporations akin to FPT may help their companions standardize processes, acquire entry to new expertise swimming pools, and seize value efficiencies.
In 1997, one in every of FPT’s subsidiaries created Vietnam’s first intranet, the early spine of our nation’s web. And in 1999, we created a software program firm that now offers digital experience, options, and companies to greater than 700 prospects, together with 100 Fortune International 500 corporations.
Favorable enterprise local weather and nationwide technique:
Vietnam has made a number of strides to exhibit that it’s open for enterprise. The nation has 17 free commerce agreements and had a whole bunch of overseas direct funding tasks lively on the finish of 2021. Vietnam gives a 20% frequent company earnings tax (CIT) for overseas traders. Nonetheless, know-how corporations are supplied favorable remedy, with a tax exemption of as much as 4 years, adopted by a 50% tax discount for one more 9 years, and a ten % CIT price for a further interval of 15 years.
The Vietnamese authorities has additionally dedicated to creating the nation a digital chief by creating three essential pillars of functionality: fostering digital schooling and expertise growth, offering an entrepreneur-friendly enterprise surroundings and ecosystem, and constructing the nation’s digital infrastructure. Each nationwide and overseas companies are responding. Vietnam’s IT and telecommunications revenues have grown yr over yr and notched $124.68 billion U.S. {dollars} in revenues in 2020.
Capitalize on a tech-savvy youthful Vietnamese inhabitants: Many corporations grapple with an getting old workforce and frequent employees turnover of their dwelling nations. Consequently, it may be tough to take care of enterprise momentum.
One approach to future-proof an organization’s expertise mannequin and enterprise technique is to faucet into the expertise of a nationwide workforce that’s each younger and tech-savvy. In Vietnam, the median age of a resident is 32.5 years previous. And the nation’s residents see digital and outsourcing jobs as a path ahead not only for spurring skilled development, but additionally to elevate the fortunes of their households. Consequently, they’re deeply dedicated to their jobs at corporations like FPT and obsessed with innovating new options and delivering distinctive service to world 2000 enterprises.
Vietnam‘s strong academic system ranks among the many top-10 worldwide for graduating the very best variety of IT college students. The nation has 236 universities, 149 of that are coaching IT professionals and delivering greater than 50,000 IT engineers to the workforce every year. FPT is proud to assist develop this expertise pipeline.
FPT College, Vietnam’s first non-public college, has enrollment of greater than 75,000 college students throughout quite a lot of disciplines and graduates 6,000 to 7,000 engineers yearly. We produce work-ready graduates by exposing college students to real-world enterprise challenges and know-how options, enabling us to supply corporations with expertise at scale for digital transformation initiatives.
Achieve end-to-end capabilities: Past outsourcing, enterprises are searching for companions that may assist them pace digital transformation progress. It’s even higher if new companions carry their very own mental property and confirmed methodologies to the desk.
FPT’s digital enterprise is now rising at a price of 80% a yr, because of our client-focused enterprise mannequin and investments in superior know-how.
We begin and finish all shopper initiatives by aligning round our shoppers’ strategic intent and desired enterprise outcomes, after which we use know-how as a lever to perform change. We take a practical strategy to scale and roadmap digital transformation initiatives. By breaking them down into three-to-six-month packages, companies can rapidly make investments, see outcomes, measure ROI, align program targets, and embrace additional transformation. We additionally invite finish customers into the transformation journey to be taught from them, use their insights to develop options, acquire their buy-in for developed processes, and supply them with tangible worth for his or her contributions.
As well as, FPT gives an entire line of award-winning merchandise. Instruments akin to akaBot, a complete robotics course of automation answer, and akaChain, an enterprise blockchain platform, assist corporations speed up outcomes.
Conclusion
C-level leaders continuously search to create new sources of enterprise worth: from optimizing core processes and accelerating digital transformation to lowering value buildings. Look to Vietnam for these capabilities. When an enterprise collaborates with a Vietnamese know-how firm akin to FPT, they acquire a trusted companion with the expertise, drive, dedication, and toolset to assist them rework their enterprise and outcompete within the digital market.
Alwyn Joseph at present serves as Chief Income Officer at FPT Software program Americas. On this position, he’s answerable for main the P&L and driving vital development in income, income, capabilities, and folks. Beneath his management, his cross-functional groups have efficiently constructed companies and markets from scratch into multimillion-dollar portfolios. Previous to becoming a member of FPT, he held a number of managerial positions at main know-how corporations, together with ITC Infotech and Tata Consultancy Providers (TCS).
