Digital transformation has a positive impact on enterprises in terms of external factors, namely business, market and customers and internal ones comprising administration, operation, human resources, safety and production infrastructure.

Monitoring and operating the smart grid at Da Nang Power System Control Centre (photo taken at the beginning of April 2021). Photo: KHANH HOA

The assessment was released in the Annual Report on Corporate Digital Transformation 2021: Barriers and Needs for Digital Transformation, which has just been announced by the Ministry of Planning and Investment in collaboration with the U.S. Agency for International Development (USAID).

Specifically, digital transformation helps develop business models and create new products and services that meet market needs in parallel improving governance efficiency, resource use and decision-making capabilities.

The report also shows that businesses of different sizes have separate needs to access digital transformation knowledge.

Most businesses, regardless of size, access digital transformation knowledge with the aim of applying it to their operations. There are also purposes of studying and researching, inquiring and reference.
With regard to the difficulties and barriers that businesses face in the digital transformation process, more than 60% of the surveyed businesses said that the biggest difficulty was the covering of digital technology investment and application cost.

More than 52% complained about challenges in changing business habits and practices and ensuring adequate internal human resources for the application of digital technology.

Some of the other barriers include the lack of information about digital technology; difficulties in integrating digital technology solutions and the fear over corporate data leakage.

In particular, the report shows the needs of businesses in digital transformation in five areas: supply chain, working environment, system integration, customer experience and sales omnichannel, administration and process automation.

Reporting by PHONG LAN- Translating by A.THU