Top 10 Digital Transformation Trends for 2024

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In today’s dynamic business environment, digital transformation is no longer optional – it’s essential for survival. A recent survey found that a staggering 70% of companies are actively crafting or implementing strategies. However, while embracing new technologies can present challenges, the potential rewards are immense: increased efficiency, streamlined operations, and a competitive edge.

This article delves into the most impactful digital transformation trends shaping the 2024 landscape, equipping businesses with the knowledge they need to leverage these advancements and thrive in the ever-evolving market.

Digital Transformation: A Modern Business Imperative

Digital transformation leverages technology to create innovative customer experiences, reshape organizational culture, and establish new business models.  This strategic approach entails adopting cutting-edge technologies to adapt core functionalities for the digital landscape.

In contrast to traditional methods, digital transformation prioritizes the customer journey over siloed departmental objectives (sales, marketing, customer service). This shift has placed customer needs at the forefront of corporate strategy for the past decade. Businesses now design goals based on a comprehensive understanding of customer requirements.

A core pillar of digital transformation involves the migration from paper-based processes to online and mobile applications. This fosters a more streamlined, organized, and sustainable work environment, reducing reliance on physical documents.

The transition to digital necessitates robust data security measures. Cloud-based storage solutions offer a secure and readily accessible platform for team collaboration, eliminating the need for email attachments or physical notes, and mitigating the risk of data breaches.

Top 10 Digital Transformation Trends for 2024

1. AI For Cutting Down OPEX

A recent industry survey reveals a troubling trend: the media and entertainment sector is experiencing massive spending with diminishing returns. Operational costs (OPEX) are outpacing profits, fueled by a relentless pursuit of early profits and a competitive environment. This unsustainable approach necessitates a strategic rethink.

The industry must re-evaluate its content management and spending practices. Fortunately, Artificial Intelligence (AI) and Machine Learning (ML) offer a solution. These technologies empower smarter content utilization and spending allocation. The focus should shift from content creation for its own sake to maximizing the value of existing content. By leveraging AI/ML, businesses can achieve significant cost reductions (OPEX) and improve their financial health.

2. IoT

The Internet of Things (IoT) is revolutionizing industries by connecting devices and collecting real-time data. This bridges the physical and digital worlds, offering businesses a wealth of insights.  Sensors and intelligent appliances gather data, enabling process optimization, reduced downtime, and increased efficiency. From manufacturing to healthcare,  IoT applications are transforming business operations. By embracing IoT, companies achieve operational excellence, gain data-driven insights, and ultimately boost customer satisfaction.

3. Digital Banking

Cutting-edge technologies like artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT) are transforming the landscape of banking.  Online banking has become the norm, with services like loan applications now receiving responses in seconds, compared to the weeks it once took. This digital revolution is expected to reach 2.5 billion users by 2024.

The COVID-19 pandemic further accelerated the shift towards digital banking. Deloitte’s Digital Banking Maturity report highlights key functions implemented by banks during this time:

  • Contactless Payments: 18% of banks introduced contactless options, and 41% increased existing limits.
  • Digital Onboarding: 34% of banks implemented fully digital onboarding processes.
  • Branch Efficiency: Appointment bookings were implemented by 25% of banks, streamlining in-person visits.
  • Digital Identity Verification: 23% of banks adopted digital ID verification methods.
  • Online Loan and Credit Card Applications: Several institutions began offering these services entirely online, including online document verification.

While the pandemic served as a catalyst, the shift towards digital banking was already underway. It presented an opportunity for financial institutions to not only embrace digital solutions but also personalize the experience, fostering a more empathetic and understanding approach to customer needs.

4. Enterprise Resource Planning

However, while technology is often seen as the cornerstone of successful digital transformation, it’s just one piece of the puzzle. Leading transformation service providers prioritize fostering a new organizational culture. This cultural shift, which emphasizes a collaborative approach, integrates people, processes, and technology.

Instead of solely focusing on external marketing channels, organizations should invest in building an intelligent Enterprise Resource Planning (ERP) system. In turn, this strengthens back-office operations and optimizes resource allocation, leading to reduced spending, improved efficiency, and ultimately, greater profitability. While technology plays a role, true digital transformation success hinges on internal optimization and a renewed focus on back-office processes.

5. 5G

The arrival of 5G networks marks a transformative era for online businesses. Compared to its predecessor, 4G, 5G boasts lightning-fast speeds, with response times dropping from 200 milliseconds to a near-instantaneous 1 millisecond. This translates to significantly faster broadband speeds and a more stable mobile network, paving the way for a hyper-connected future.

But beyond speed, 5G offers a multitude of benefits for businesses. Greater network reliability ensures consistent performance, advanced security features safeguard sensitive data, wider network coverage expands business reach, and significantly higher bandwidth empowers seamless handling of large data volumes. These advancements combined make 5G a game-changer for businesses that rely on the Internet of Things (IoT). With real-time data exchange and faster response times, 5G unlocks a future of enhanced connectivity and operational efficiency, empowering online businesses to thrive in the ever-evolving digital landscape.

6. Low-Code 

2023 is expected to see a surge in the adoption of low-code and no-code software by businesses. However, initial fears about these technologies replacing developers have proven unfounded. In fact, these tools are empowering both developers and businesses. Developers are freed from repetitive tasks, allowing them to focus on innovative projects that drive growth. Furthermore, low-code solutions also give non-technical professionals the ability to create modern applications, automate processes, and make data-driven decisions – all with an easy learning curve. This shift towards low-code/no-code development offers a multitude of benefits for businesses: improved agility to adapt to changing markets, increased productivity through streamlined workflows, reduced costs from simplified app development, enhanced customer experiences with faster application development, quicker digital transformation initiatives, and effective risk management thanks to streamlined governance. By embracing low-code/no-code development, businesses can simplify building custom applications, gain a competitive edge through faster innovation, and be better prepared to respond to the ever-changing business landscape..

7. Customer Data Platforms

Customer data platforms (CDPs) are emerging as a critical tool in digital transformation. They empower businesses to unify customer data from various sources into a single platform. This comprehensive customer view unlocks a range of benefits:

  • Personalized Marketing: Targeted campaigns tailored to individual customer needs and preferences.
  • Enhanced Customer Service: Proactive and personalized support based on customer data insights.
  • Data-Driven Decision Making: Informed strategies backed by real-time customer data analysis.

By understanding customer behavior, preferences, and trends, businesses can leverage CDPs to develop more effective engagement strategies.  This translates to highly targeted experiences, ultimately driving customer loyalty and satisfaction.

8. Cybersecurity

With the ever-present threat of cyberattacks, businesses must prioritize protecting sensitive information and ensuring secure operations. Therefore, robust cybersecurity measures, like encryption, multi-factor authentication, and regular security audits, are essential to safeguard against data breaches and cyberattacks. By prioritizing cybersecurity, companies can achieve several critical goals:

  • Protecting Assets: Secure data and critical infrastructure.
  • Maintaining Customer Trust: Build confidence in data security practices.
  • Regulatory Compliance: Adhere to data protection regulations.

In an increasingly interconnected world, robust cybersecurity is not just a trend; it’s a necessity for any business embarking on digital transformation.

9. XaaS (Everything as a Service)

XaaS includes familiar models like Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS).

XaaS offers businesses a subscription-based model for accessing software, infrastructure, and platforms. This eliminates the need for large upfront investments, promoting flexibility and scalability. This cost-effective and efficient approach makes XaaS a popular choice for businesses seeking to innovate and remain agile in today’s dynamic market. By adopting XaaS, businesses can align with digitalization trends and unlock efficient solutions for diverse business needs.

10. Cloud computing

Cloud computing stands as the bedrock of digital transformation initiatives. It empowers businesses with a powerful tool: on-demand, scalable IT resources accessible via the internet. This eliminates the need for expensive upfront investments in physical hardware, offering a more cost-effective approach. Cloud computing shines in terms of accessibility as well – data, applications, and services are readily available from anywhere with an internet connection. This fosters seamless collaboration among teams and empowers remote workers.

However, the true power lies in its scalability. Cloud resources can adapt and expand alongside your business needs, allowing for rapid growth and effortless scaling. By embracing cloud computing, companies unlock the potential for innovation, enhance operational efficiency, and position themselves for success in the ever-evolving digital landscape.

Conclusion

In conclusion, the digital landscape is a dynamic battleground, and businesses must continuously evolve to stay ahead. Embracing digital transformation trends like AI, IoT, automation, and data-driven solutions is no longer optional – it’s the cornerstone of survival. By harnessing these advancements, companies can modernize operations, enhance customer experiences, and make data-driven decisions that fuel innovation and growth. The key to success lies in ongoing adaptation and continuous integration of new digital solutions. Businesses that embrace this transformation journey will be well-positioned to thrive in the ever-evolving digital world.

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Vu Nguyen

Director of Information Technology

Vu Nguyen is a seasoned IT professional with a proven leadership and innovation track record in technology. Currently serving as the Director of Information Technology of AGEST Vietnam (AGV), Vu brings experience, drives IT strategy and ensures seamless technological operations for the company and its local and global affiliates.

Vu has always demonstrated a passion for leveraging technology to solve complex challenges and improve business processes throughout his career. Before joining AGEST VN (former name LogiGear VN) in 2008, he held key roles in various IT capacities.

Besides a bachelor in IT, Vu holds a bachelor in business administration from the University of the People (USA). This academic background, combined with his extensive experience in information technology, positions Vu as a well-rounded leader with a comprehensive understanding of business and technology.

Vũ Nguyễn

Giám đốc CNTT

Ông Vũ Nguyễn là một chuyên gia CNTT dày dạn kinh nghiệm với khả năng lãnh đạo và đổi mới công nghệ đã được chứng minh. Với chức vụ Giám đốc Công nghệ Thông tin của AGEST Việt Nam (AGV), ông Vũ Nguyễn mang đến kinh nghiệm, thúc đẩy chiến lược CNTT và đảm bảo hoạt động công nghệ liền mạch cho công ty cũng như các chi nhánh trong nước và toàn cầu.

Ông Vũ Nguyễn luôn thể hiện niềm đam mê tận dụng công nghệ để giải quyết những thách thức phức tạp và cải thiện quy trình kinh doanh trong suốt sự nghiệp của mình. Trước khi gia nhập AGEST Việt Nam (tên cũ là LogiGear VN) vào năm 2008, ông giữ các vai trò chủ chốt ở nhiều vị trí CNTT khác nhau.

Ngoài bằng cử nhân CNTT, ông Vũ còn có bằng cử nhân quản trị kinh doanh của UoP (Mỹ). Nền tảng học vấn này, kết hợp với kinh nghiệm sâu rộng về công nghệ thông tin, giúp ông Vũ trở thành một nhà lãnh đạo toàn diện với hiểu biết toàn diện về kinh doanh và công nghệ.

Tam Phan

Director of Japan Business Development

Tam Phan has over 16 years of experience in the tech industry and is a seasoned professional. Tam developed a passion for technology from a young age and was raised in Tokyo, Japan. He earned his degree in Computer Science from the University of HoChiMinh City, where his academic excellence laid the foundation for his future success. Throughout his career, he has a proven track record of meeting customer project needs.

Tam focuses on sourcing software development resources and solutions as well as software design, consulting, and other software-related activities. His early experiences gave him a comprehensive understanding of software development, system architecture, and project management. He has shown excellent leadership skills over the years, guiding teams through complex projects and fostering a collaborative work environment.

He quickly rose through the ranks due to his commitment to innovation and ability to foresee industry trends. As the Head of Engineering, he plays a crucial role in shaping the company’s technological landscape by overseeing the development of cutting-edge solutions that meet the ever-evolving needs of the digital world. Tam is known for his strategic vision and hands-on approach.

He has successfully led his team in implementing transformative technologies to deliver large-scale software projects in various domains, including education, eCommerce, and automobile. Tam held key managerial positions at leading Japanese companies in Japan and Vietnam before joining AGT.

Tam’s story is about his dedication, innovation, and leadership, which have made him a prominent figure in the IT landscape.

He received a certificate in Software Design from The Association for Overseas Technical Cooperation and Sustainable Partnerships, Japan (AOTS) in 2007.

Tâm Phan

Giám đốc kinh doanh - Thị trường Nhật Bản

Ông Tâm Phan là một chuyên gia giàu kinh nghiệm với hơn 16 năm cống hiến cho ngành công nghệ. Sinh ra và lớn lên tại Tokyo, Nhật Bản, ông Tâm đã nuôi dưỡng đam mê với công nghệ từ nhỏ. Ông Tâm tốt nghiệp chuyên ngành Khoa học Máy tính tại Thành phố Hồ Chí Minh, nơi thành tích học tập ưu tú của ông đã đặt nền móng cho sự thành công trong tương lai. Trong quãng đời nghề nghiệp của mình, ông Tâm đã chứng minh được khả năng đáp ứng mọi yêu cầu của dự án từ phía khách hàng.

Ông Tâm đã tập trung mạnh mẽ vào việc đảm bảo nguồn cung ứng linh hoạt của tài nguyên và phương pháp phát triển phần mềm, cùng việc tham gia vào quá trình thiết kế, tư vấn phần mềm, và các hoạt động liên quan khác trong lĩnh vực phần mềm. Những kinh nghiệm ban đầu của ông đã mang lại cho ông sự hiểu biết toàn diện về phát triển phần mềm, kiến trúc hệ thống và quản lý dự án. Ông đã thể hiện kỹ năng lãnh đạo xuất sắc trong nhiều năm, hướng dẫn các nhóm thực hiện các dự án phức tạp và thúc đẩy môi trường làm việc hợp tác.

Ông Tâm nhanh chóng thăng tiến nhờ vào khả năng đoán trước các xu hướng của ngành. Với tư cách là Giám đốc Kỹ thuật, ông đóng vai trò quan trọng trong việc định hình bối cảnh công nghệ của công ty bằng cách giám sát việc phát triển các giải pháp tiên tiến đáp ứng nhu cầu ngày càng phát triển của thế giới kỹ thuật số.

Ông đã lãnh đạo thành công nhóm của mình trong việc triển khai các công nghệ biến đổi để cung cấp các dự án phần mềm quy mô lớn trong nhiều lĩnh vực khác nhau, bao gồm giáo dục, Thương mại điện tử và ô tô. Ông Tâm từng đảm nhiệm các vị trí quản lý chủ chốt tại các công ty hàng đầu Nhật Bản tại Nhật Bản và Việt Nam trước khi gia nhập AGT. Câu chuyện của ông Tâm kể về sự cống hiến, sự đổi mới và khả năng lãnh đạo của ông đã khiến ông trở thành một nhân vật nổi bật trong lĩnh vực CNTT. Ông nhận được chứng chỉ về Thiết kế phần mềm từ Hiệp hội Hợp tác Kỹ thuật Nước ngoài và Quan hệ Đối tác Bền vững, Nhật Bản (AOTS) vào năm 2007.
Long Vuong is the COO of AGEST Vietnam (AGV). He has 30-year+ experience in the corporate world. Prior to joining AGV 14 years ago (2010), he had been holding multiple leadership roles including General Manager cum Chief Accountant for a 500-staff Belgian diamond company for 15 years, and Director of Operations for a 100-staff publishing company for 2 years. Long has a great network in the IT community, associations, and academia in Vietnam.

Long occasionally participates in studies in management science at national and institution levels, teaches and speaks at universities and conferences on various topics of his expertise. He also makes writing and translating his hobby in free time. A few books he translated and published: Nudge (Richard Thaler’s 2017 Nobel Prize in Economics), Classic Drucker, The Future Leader (Top-10 leadership books 2023), Smart Trust, The Snowball, and 30+ other leadership/management books. Long was awarded an Excellence Prize (2016) in Tokyo by the Japan Foreign Trade Council for his writing on the role of Japanese companies in global trade. He is currently the President of the EMBA Alumni of UEH University.

Long holds an Executive MBA degree (valedictorian), a BA in finance & accounting, and a BA in English linguistics.
Mizuide Tamaki, CFA, received his Master of Engineering in Applied Physics from Tohoku University in March 1990.

He joined a major Japanese bank, and was engaged in development of financial engineering products, then became Chief Manager of Risk Management Department in Singapore and Compliance Department at HQs Tokyo.

After 28 years of banking life, he moved to a Japanese car seat manufacturer who wanted to set up a new factory in Asia, where he became the local General Director. After establishing a factory near Hanoi, he joined Digital Hearts Holdings for another opportunity and was transferred to Ho Chi Minh as ex-LogiGear Vietnam’s (now AGEST Vietnam) Japan Business Head.

In February 2023, he took LogiGear Vietnam GD role, now CEO and GD of AGEST Vietnam.

Khuong Ngo

General Manager/AGV-Saigon (Test)

Khuong Ngo is the General Manager of AGEST Vietnam (AGV)-HCM, in charge of Software Test Division and Test Center of Excellence.  His responsibility includes business development, resource capability development and testing service delivery management. Besides, he also leads the innovation and technology research activities for new software testing methodologies on a companywide scale.

Khuong joined AGV under its former name “LogiGear Vietnam” since 2005 as a Software Developer for TestArchitect™, the action-based automation software testing tool, in its very first version. Khuong is a well-proven Project Management Professional (PMP). Khuong spent some time in LogiGear Headquarters, CA, USA in 2015, where he got trained of management and leadership in software outsourcing business. Over 18 years functioning in various technical and management positions, Khuong is now a key member of the senior management team of AGV.

Khuong holds a Bachelor of Science in Software Engineering by the Ho Chi Minh City University of Science.

Yen Nguyen

Financial Controller

Yen Nguyen is a core member of the senior management team of AGEST Viet Nam (AGV). She joined the company in 2010 when it was operating under the name of LogiGear Vietnam. Since then she has made her concrete career development with AGV through different roles and responsibilities: Accounting Clerk, Accountant, General Accountant, Chief Accountant, and Financial Controller at present. Besides, she oversees the corporate legal area of AGV in Vietnam.

In the role of a Financial Controller, Yen looks after all accounting/finance related activities, including cost accounting, managerial accounting, and budgeting. She assists the BOD and division heads with preparation and implementation of annual operating budgets, oversees the preparation of financial reports, monitors the internal and external compliance as well as conducting internal audits, due diligences, and spontaneous reports from time to time.

Yen holds a bachelor degree in accounting and a bachelor degree in Business English. She also earned a good number of professional certificates such as Certificate of Chief Accountant; Banking and Finance English; Marketing and Branding Management; and Public and Media Relations along her career journey.

Thanh Pham

General Manager/AGV-Hanoi

Thanh Pham is a General Manager of AGEST Vietnam (AGV), manages DX development center (Hanoi branch). He has 17 years of experience in the tech industry and is a seasoned professional.


Thanh Pham having worked for a Japanese company for two and a half years at the beginning of his professional career, he has been familiar with Japanese business culture and practices. Since then, he has gained experience, knowledge, skills, and climbed the ladder of his business career from BrSE to DM, and now GM.

Tam Pham

Director of Japan Business QA

Tam Pham is currently the Director of Japan Business QA of AGEST Vietnam (AGV). Tam joined AGV since 2011 when it was operated in Vietnam under the name of LogiGear Vietnam.

Tam has spent over 15 years in outsourcing software development, he plays multiple roles such as: Software Developer, Project Technical Leader, Test Leader, Project Manager, Delivery Manager, Engineering Manager, and Director. He worked a few years in Japan in 2007 and 2015. He also traveled to and got trained at LogiGear Headquarters, CA, USA for a while in 2016. This brought him a solid experience related to management and leadership in software outsourcing.

Tam enjoys great time as a R&D leader to research and develop automation testing product. For all of his career, Tam has been interested in software design, test automation and the state of the art of software craftsmanship. Tam has introduced his first line of code since 2001 and got engineer’s degree of Information Technology from Da Nang University of Science and Technology in 2006.

Thang Nguyen

General Manager, AGV Danang

Thang Nguyen is a seasoned professional with 17 years of dedicated service to AGEST Vietnam. Currently serving as the General Manager of AGEST Vietnam’s Danang branch, Thang’s expertise and leadership have played a pivotal role in the company’s success. With a background in Computer Science from the University of Madras in India, he has honed his skills and knowledge to excel in his career.

Thang’s journey within AGEST Vietnam has seen him take on diverse roles, culminating in his current position. Notably, he led the quality team for TestArchitect, a flagship product of AGEST Vietnam. His contributions to TestArchitect, a renowned automation tool acclaimed for its ability to automate a wide array of common AUT technologies, including Web, Desktop (.Net, Java, etc.), Web Services, Databases, and Images, have been instrumental in enhancing the product’s standing in the industry.

Thang Nguyen’s commitment, expertise, and leadership exemplify his invaluable contributions to AGEST Vietnam’s growth and success. As General Manager of AGV-Danang, his vision and dedication continue to drive the branch forward, setting new standards for excellence within the AGEST Vietnam.