Recently, Digiworld Corporation (HOSE: DGW) and Citek Corporation officially signed and kicked off a comprehensive digital transformation project using SAP S/4HANA Private Cloud and IFRS financial reporting standards.
The SAP S/4HANA Cloud system at Digiworld is implemented by Citek within 6 months and officially goes live on January 1, 2024. This project aims to: standardize the corporate governance structure and model across the corporation; establish an advanced, synchronized technology platform enabling Digiworld to replicate and expand into multiple sectors; implement IFRS; and leverage technology, mobility, data integration, and inheritance to enhance operational efficiency.
Ms. Dang Kien Phuong, CEO of Digiworld, and Mr. Nguyen Cong Tan, CEO of Citek, sign the project partnership agreement
Digiworld is recognized as one of the first companies in Vietnam to sign and successfully operate an SAP ERP system. Thirteen years later, amidst a declining market trend, Digiworld invested heavily in upgrading its ERP system by signing an agreement to implement SAP S/4HANA while simultaneously transitioning to IFRS financial reporting standards.
Ms. Dang Kien Phuong, CEO of Digiworld, speaks at the signing and kick-off ceremony
Speaking at the event, Ms. Dang Kien Phuong stated: “Throughout our 25-year journey, Digiworld has consistently adhered to the 3C strategy: Con người (People), Cơ sở (Infrastructure), and Cơ hội (Opportunity). A transparent and efficient management system is a key part of the ‘Infrastructure’ pillar. The key investment in infrastructure was in 2010, when Digiworld successfully implemented SAP Business One. Over 13 years of using SAP, with various versions, SAP has supported Digiworld’s growth. Today, with this commitment between Digiworld and Citek, we once again demonstrate our forward-looking vision, aiming to standardize operations and elevate our management standards. With SAP’s reputation and Citek’s proven commitment, we are confident that the SAP S/4HANA Cloud project will bring sustainable and long-term benefits to Digiworld and Citek.”
Ms. Dang Kien Phuong, CEO of Digiworld, and Mr. Nguyen Cong Tan, CEO of Citek, sign the project partnership agreement
Digiworld Corporation is a leading Vietnamese company with a mission to build markets and distribute reputable global products and services to Vietnamese consumers through its comprehensive Market Expansion Services (MES).
Founded in 1997, Digiworld has, for over a quarter of a century, been a trusted partner distributing more than 30 world-renowned brands. Leveraging its MES strength, Digiworld has created comprehensive strategic solutions that drive product and brand growth in new markets.
“Upgrading our management system with SAP S/4HANA and implementing IFRS is a significant step to empower Digiworld’s growth, especially in expanding new product categories and business units, ensuring effective management and sustainable development. Citek is committed to delivering the project on time, with the right quality, and officially operating SAP S/4HANA and other digital transformation solutions for Digiworld on January 1, 2024,” Mr. Nguyen Cong Tan, CEO of Citek, emphasized.
Nguyen Cong Tan, CEO of Citek, speaks at the event
At the signing ceremony, Mr. Aaron Ang, Vice President and Head of Mid-Market Business, SAP Southeast Asia, shared: “SAP S/4HANA Cloud and SAP’s solution portfolio provide a foundation for companies to drive innovation and ensure sustainable growth in a highly competitive world. Investing in SAP is not just investing in software; it’s investing in a legacy that will continue to grow with the business. As a long-time SAP user, Digiworld’s partnership with Citek and its upgrade to SAP S/4HANA Private Cloud will soon enable the company to adopt world-class management standards, delivering additional value to stakeholders and reaffirming its pioneering position.”
Imagines at the events:
