What does business automation contribute to the digital economy?

Business Process Automation, abbreviated as BPA, is the trend of utilizing technology to automate activities and functional processes within a business. The goal of BPA is to improve operational efficiency, minimize 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 US$14.2 billion, which is expected to increase to US$30.2 billion by the end of 2030.

Not only optimizing productivity, BPA promises to promote global trade through applications such as smart warehouses, robots to track shipments, manage orders; digital software to speed up trade transactions by streamlining paperwork and payments; data analysis tools to help organizations find trends, make accurate forecasts and streamline supply chains...

For small and medium-sized enterprises (SMEs), BPA is an opportunity to expand their access to global markets. Through digital platforms, SMEs can communicate with customers, partners and suppliers worldwide. Cross-border transactions are made easier thanks to digital payment systems.

Các diễn giả chia sẻ về những thay đổi mà BPA có thể mang đến cho doanh nghiệp — Speakers share about the changes BPA can bring to businesses

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.

Sharing at the workshop "BPA Market and Automation Solutions" held on the afternoon of April 5, co-organized by VineXad and WBS in Hanoi (within the framework of the Vietnam International Trade Fair 2024 - VIETNAM EXPO), Mr. Nguyen Quang Thong - Deputy Director of Personal Customer Division and Director of Digital Banking Center, Nam A Bank said: "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".

Mr. Ho Anh Thang, Solution Director of TNTECH Company shared: "Smart industrial park solutions help improve operational efficiency and enhance sustainable competitiveness for businesses. This is not only a step forward in optimizing the supply chain but also contributes to laying the foundation for the era of smart manufacturing".

BPA is also considered to open a new era in the management and implementation of current information technology systems, according to Mr. Pham Ngoc Son - Chairman of the Board of Directors of FaceNet High Technology and Software Services Joint Stock Company.

"We have not only witnessed the evolution of automation as a fundamental trend in the industry, but also as a key driver behind continuous innovation, helping businesses operate more efficiently and significantly improving the end-user experience. With the ability to deploy quickly and flexibly, automation has become the key to unlocking unlimited creative potential, helping organizations of all sizes adapt and grow in the digital world," Mr. Son emphasized in his sharing at the event.

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