That is the affirmation of Mr. Le Hong Quang - Permanent Deputy General Director of MISA Joint Stock Company (MISA) on the topic "Making Financial Decisions Based on Data and AI" at the Vietnam Corporate Governance Forum held on October 11, 2024.
The event was organized by the Vietnam Association of Corporate Directors (VACD) with the participation of leaders of Associations, Clubs, and organizations such as VACD, Human Resources Club (VNHR); Chief Financial Officer Club (CFO); Sales & Marketing Director Club (CSMO); TheLEADER... along with leading experts in the financial industry and many businesses.
Mr. Le Hong Quang - Permanent Deputy General Director of MISA Joint Stock Company (MISA) presented a speech on the topic "Making Financial Decisions Based on Data and AI" at the Vietnam Corporate Governance Forum
In his speech, Mr. Le Hong Quang affirmed that there are 3 core factors that help business leaders make timely and accurate financial decisions, which are people, data and tools . Accordingly, the first factor is people, specifically the department in charge of financial planning and analysis (FP&A) in the business. A flexible FP&A team is a team that is built, organized and fully trained in data analysis, Big Data, data modeling, etc. to be able to analyze and make decisions based on available data warehouses.
MISA has successfully deployed the MISA AMIS Unified Enterprise Management Platform for more than 250,000 businesses, helping units build and effectively exploit data to make operational decisions.
The second factor is data. In the digital age, businesses need to accelerate the digital transformation process to build a converged data warehouse from all departments such as human resources, operations, marketing, business, finance - accounting. When data is converged and connected between departments, it will become a powerful tool for business operations and decision making.
The third factor is the tool that helps businesses analyze and forecast based on data. Mr. Le Hong Quang believes that, in the context of strong technology development, the application of modern analytical tools, especially artificial intelligence (AI), will provide businesses with a "digital assistant" to support reporting, analyze data immediately and regularly, monitor and control cost risks, forecast revenue or cash flow, thereby making timely and accurate decisions.
MISA has successfully deployed the MISA AMIS Unified Enterprise Management Platform for more than 250,000 businesses, helping units build and effectively exploit data to make operational decisions.
Keeping up with the trend of applying AI in management, MISA has successfully researched and developed the MISA AVA Artificial Intelligence Assistant integrated into the MISA AMIS Unified Enterprise Management Platform to support all operations in the enterprise. The MISA AMIS platform includes more than 40 specialized applications, helping businesses comprehensively digitally transform core operations such as: Finance - Accounting, Marketing - Sales, Human Resources, Digital Office.
MISA AVA artificial intelligence assistant integrated into MISA AMIS unified enterprise management platform supports all operations in the enterprise.
With the MISA AVA assistant integrated into the platform, business owners can quickly ask questions about data, reports, analysis, etc. without having to wait, synthesizing information from many sources. The digital assistant will provide accurate and instantly updated data shown through reports and intuitive charts - a solid foundation to help the leadership make strategic decisions quickly and effectively.
According to Mr. Le Hong Quang, data analysis technology combined with artificial intelligence AI also helps MISA AVA instantly detect abnormalities in expenses, identify and warn of potential financial risks.
In addition, data analysis technology combined with AI also helps MISA AVA instantly detect abnormalities in expenses, identify and warn of potential financial risks. This technology allows businesses to effectively evaluate the use of resources, prevent waste and improve budget management.
At the end of his presentation, Mr. Le Hong Quang emphasized: “Enterprises need to have a culture of making decisions based on data to optimize financial management. This is an essential requirement to help businesses grasp trends and adjust strategies promptly, increasing competitive advantage and operational efficiency.”
Le Hong Quang emphasized that businesses need to have a culture of making decisions based on data to optimize financial management.
To do this, businesses need to carry out strong digital transformation, especially in converging and consolidating data to create a rich and accurate database. Applying modern analytical tools and AI will help businesses maximize the value of data, provide detailed information, and help make more accurate and optimal financial decisions.
VACD is an organization that brings together Vietnamese business administrators to create opportunities to exchange and share knowledge, skills, and experiences to improve the management capacity of each enterprise, and at the same time propose solutions to perfect the legal framework on management for Vietnamese enterprises. On the afternoon of November 11, 2024, within the framework of the 4th National Congress of VACD, Mr. Le Hong Quang - Permanent Deputy General Director of MISA was elected to the Executive Committee of the Central Committee of the Association for the 4th term.
With 30 years of strength in the technology field, MISA is committed to accompanying VACD in promoting digital transformation for businesses. Thereby, contributing to improving the capacity and competitive advantage of the Vietnamese business community, promoting the sustainable development of Vietnam's digital economy.
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