On March 11, 2024, BaF Vietnam Agriculture Joint Stock Company (HOSE: BAF) and Citek Technology Joint Stock Company formally signed a strategic partnership agreement to kick off a comprehensive enterprise digital transformation project using SAP S/4HANA Cloud, while adopting IFRS (International Financial Reporting Standards).
BaF and Citek sign a contract to deploy SAP S/4HANA Cloud & IFRS Project
BaF is a leading company in the livestock sector, operating with a closed-loop "Feed - Farm - Food" model. This is the first animal feed manufacturer in Vietnam to receive the two highest international certifications in the industry: Global G.A.P CFM and FSSC 22000 along with the GLOBALG.A.P IFA certification for farms, numerous awards and recognitions from reputable organization like the Ministry of Agriculture and Rural Development.
Currently, BaF is making substantial investments in the digital transformation of the overall management system to support the company’s growth strategy. This involves partnering with Citek to implement the SAP S/4HANA Cloud alongside transitioning to IFRS. According to the commitment, the SAP system will be advised and implemented by Citek within 10 months, with official operation slated for January 2025.
Ms. Bui Huong Giang – CEO of BaF sharing at the event
Ms. Bùi Hương Giang, CEO of BaF, said:“With a dynamic team, this digital transformation journey is expected to intensify BaF’s growth, deliver clear operational improvements, and optimize resources. Digital transformation on the SAP platform will also enable us to accelerate for the next phase of expansion, targeting over 100 farms, 11 feed plants, and 2 processing facilities, aiming to become one of the top 3 livestock enterprises in Vietnam by 2030."
The executive board of BaF significantly values the comprehensive and profound application of a new business model based on data, processing speed, and advanced technology across all operations in order to increase responsiveness to market fluctuations, create competitive advantages, and foster sustainable development. Therefore, the SAP S/4HANA Cloud solution at BaF establishes a transparent and professional management foundation, facilitates business operations, improves human resources management and training, and strengthens connections with customers, shareholders and partners.
“Digital transformation is not just a tool—it’s part of shaping BaF’s corporate culture. We strive to adapt to the changing times and stay ready to seize new opportunities,” Ms. Giang added.
Mr. Nguyen Cong Tan – CEO of Citek speaking at the ceremony
“With a strong determination to become a leading high-tech livestock company in Vietnam, BaF has adopted international best practices throughout its Feed - Farm - Food chain. The value provided by the SAP system will optimize operations and lay the foundation for the organization to achieve 2030 goals and develop sustainably. With Citek’s proven capabilities, we commit to working closely with BaF to ensure the project’s success and official go-live in January 2025” Mr. Nguyen Cong Tan – CEO of Citek stated.
"The digital transformation project at BaF Vietnam is a large-scale project, with a long implementation period of up to 10 months, along with the immense value that the enterprise will achieve after successful operation. SAP commits to accompanying BaF before, during, and after implementation, helping the enterprise operate the system effectively," emphasized by Mr. Nguyen Hong Viet - Managing Director of SAP.
Citek and BaF project teams attending the kick-off event
As the project steering committee chair, Ms. Bui Huong - CEO of BaF, expressed full confidence in the expertise of the implementation team, the capabilities of Citek, and the dedicated support from SAP, which together will help BaF complete its management transformation successfully.