On April 5, the workshop "BPA Market and Automation Solutions" took place within the framework of the Vietnam International Trade Fair 2024 (VIETNAM EXPO) at the Hanoi International Exhibition Center.
The workshop was jointly organized by VineXad and WBS to create a space to discuss the potential of business process automation (BPA) in promoting international trade, opening up cross-border trade and investment opportunities with the support of digital technology.
Business Process Automation (BPA) is the trend of using technology to automate activities and functional processes within a business. The goal of BPA is to improve operational efficiency, reduce errors, standardize processes, and help employees focus on more strategic, value-added activities.
According to GlobeNewsWire, the global BPA market is forecast to expand at a CAGR of 11.4%. In 2023, the BPA market is estimated to be worth around $14.2 billion, which is expected to increase to $30.2 billion by the end of 2030.
Ms. Nguyen Hong Nhung, Director of VIETNAM EXPO 2024 delivered the opening speech.
Beyond optimizing productivity, business process automation promises to boost global trade through applications such as smart warehouses, robots that track shipments and manage orders, digital software that speeds up trade transactions by streamlining paperwork and payments, and data analytics tools that help organizations spot trends, make accurate forecasts, and streamline supply chains.
The application of BPA in factory operations is a market with great potential. According to the national land use plan approved by the National Assembly on November 13, 2021, by the end of 2030, the land area for industrial park development will reach about 210,930 hectares.
Thus, from now until 2030, there will be an additional 120,000 hectares of industrial parks. Automation applications not only help increase efficiency, but also help industrial parks achieve ESG (Environmental - Social - Corporate Governance) benefits such as reducing carbon emissions, creating a secure working environment, promoting innovation, as well as reducing errors in processes, optimizing operating costs of assets, processes and resources.
The workshop provided a space to discuss the potential of business process automation (BPA) in facilitating international trade.
For small and medium-sized enterprises (SMEs), BPA is an opportunity to expand their access to global markets. Through digital platforms, SMEs can now communicate with customers, partners and suppliers worldwide. Cross-border transactions are made easier thanks to digital payment systems.
Ms. Nguyen Hong Nhung, Director of VIETNAM EXPO 2024, said: " Vietnam is facing a wave of automation technology. This is considered a key factor to help businesses develop and improve their competitive position in the market. New technologies such as Robotic Process Automation (RPA), Intelligent Document Processing (IDP), Artificial Intelligence (AI) ... will directly affect a number of industries through their impact on input productivity and through market mechanisms spread to many other industries ."
However, the level of automation application of Vietnamese enterprises is still low. This is both an opportunity for automation solution providers to introduce their products and a challenge for businesses to find ways to adapt in the era of strong digital economic development.
Speakers in the discussion session on “Identifying and challenging digital transformation of businesses”.
Mr. Nguyen Quang Thong, Deputy Director of Personal Banking Division and Director of Digital Banking Center, Nam A Bank, shared that in the context of digital transformation taking place strongly in Vietnam, automation is no longer an option but has become an urgent requirement for every bank.
According to Mr. Thong, at Nam A Bank, automation is not only a tool to improve work efficiency but also a means to optimize customer experience, providing personalized banking services.
" We are witnessing automation helping the banking industry improve response time, accuracy and security in every transaction. This not only affirms our pioneering role in the industry but also demonstrates our commitment to continuously improve service value, accompanying the sustainable development of the digital economy, " said Mr. Thong.
Mr. Ho Anh Thang, Director of TNTECH Solutions, believes that smart warehouse solutions help improve operational efficiency and enhance sustainable competitiveness for businesses.
Mr. Pham Ngoc Son, Chairman of the Board of Directors of FaceNet High Technology and Software Services Joint Stock Company.
Mr. Pham Ngoc Son, Chairman of the Board of Directors of FaceNet High Technology and Software Services Joint Stock Company, said that automation has opened a new era in the management and deployment of information technology systems.
Mr. Son stated that at FaceNet, the evolution of automation is not only considered a fundamental trend in the industry but also a key driver behind continuous innovation. For FaceNet, automation not only helps businesses operate more efficiently but also significantly improves the end-user experience.
With the ability to deploy quickly and flexibly, Mr. Son affirmed that automation has become the key to unlocking unlimited creative potential, helping organizations of all sizes adapt and grow in the digital world.
The event is chaired by the Ministry of Industry and Trade, directed by the Trade Promotion Agency and organized by VINEXAD Company. With a focus on international trade, the main objective of VIETNAM EXPO is to promote investment, boost production and link growth in the context of globalization of the world economy.
VIETNAM EXPO 2024 brings together more than 480 businesses present at 550 booths from 16 countries and territories, promising to attract international visitors and the business community from cities in Vietnam with programs through ministries, departments, branches, diplomatic agencies, domestic and international trade promotion organizations, and major domestic industry associations.
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