Look to Vietnam for Digital Transformation and Outsourcing
(Sponsored Article)
Outsourcing unlocked incredible value for leading enterprises and lifted the economic fortunes of China, India, Eastern Europe, and Latin America.
Now it’s Vietnam’s turn. This vibrant country has everything it needs to become a new leader on the global outsourcing and digital transformation stage. Here’s how Vietnam and FPT Software, a $2B global IT services provider, meets the needs of the C-suite at global enterprises:
Reduce cost and risk
In 1997, one of FPT’s subsidiaries created Vietnam’s first intranet, the early backbone of our country’s internet. And in 1999, we created a software company that now provides digital expertise, solutions, and services to more than 700 customers, including a hundred Fortune Global 500 companies.
Favorable business climate and national strategy:
Vietnam has made multiple strides to demonstrate that it is open for business. The country has 17 free trade agreements and had hundreds of foreign direct investment projects active at the end of 2021. Vietnam offers a 20% common corporate income tax (CIT) for foreign investors. However, technology companies are offered favorable treatment, with a tax exemption of up to four years, followed
The Vietnamese government has also committed to making the country a digital leader
Capitalize on a tech-savvy youthful Vietnamese population: Many companies grapple with an aging workforce and frequent staff turnover in their home countries. As a result, it can be difficult to maintain business momentum.
One way to future-proof a company’s talent model and business strategy is to tap into the talent of a national workforce that’s both young and tech-savvy. In Vietnam, the median age of a resident is 32.5 years old. And the country’s citizens see digital and outsourcing jobs as a path forward not just for spurring professional growth, but also to lift the fortunes of their families. As a result, they are deeply committed to their jobs at companies like FPT and passionate about innovating new solutions and delivering exceptional service to global 2000 enterprises.
Vietnam‘s robust educational system ranks among the top-10 worldwide for graduating the highest number of IT students. The country has 236 universities, 149 of which are training IT professionals and delivering more than 50,000 IT engineers to the workforce each year. FPT is proud to help develop this talent pipeline.
FPT University, Vietnam’s first private university, has enrollment of more than 75,000 students across a variety of disciplines and graduates 6,000 to 7,000 engineers annually. We produce work-ready graduates
FPT’s digital business is now growing at a rate of 80% a year, thanks to our client-focused business model and investments in advanced technology.
We start and end all client initiatives
In addition, FPT offers a complete line of award-winning products. Tools such as akaBot, a comprehensive robotics process automation solution, and akaChain, an enterprise blockchain platform, help companies accelerate results.
Conclusion
C-level leaders constantly seek to create new sources of business value: from optimizing core processes and accelerating digital transformation to reducing cost structures. Look to Vietnam for these capabilities. When an enterprise collaborates with a Vietnamese technology company such as FPT, they gain a trusted partner with the talent, drive, commitment, and toolset to help them transform their business and outcompete in the digital marketplace.
Alwyn Joseph currently serves as Chief Revenue Officer at FPT Software Americas. In this role, he is responsible for leading the PL and driving significant growth in revenue, profits, capabilities, and people. Under his leadership, his cross-functional teams have successfully built businesses and markets from scratch into multimillion-dollar portfolios. Prior to joining FPT, he held several managerial positions at leading technology firms, including ITC Infotech and Tata Consultancy Services (TCS).