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On November 25, the Vietnam CFO Summit successfully held the CFO Summit 2023 program with the theme: “Shaping the Future of Finance: Innovation, Application and Transformation”. In particular, the event is like a milestone, marking the 15-year journey of the Vietnam CFO Association.
What to expect for the economic picture in 2024
Recently, the financial market has faced many “earthquakes” affecting the general economic situation. Specifically, the State Bank is urgently looking for solutions to remove difficulties to boost credit to serve the production and business activities of people and businesses nationwide; the bond market is volatile, the real estate market seems to freeze, transactions are becoming more difficult.
With the signals and predictions of the 2024 economy, what are the expectations for managers? Through hot topics and in-depth discussions, experts have come up with advanced strategies to optimize corporate finance, open up multi-dimensional perspectives on the market, and help manage finance more effectively and flexibly in the new period.
In addition to the attraction of the discussion session with a new but not new topic: “What is keeping CFOs awake at night?” is the participation of speakers from leading enterprises such as Mr. Phan Vu, CFO, STADA Vietnam, Mr. Le Thanh Liem, Board Member & CFO Vinamilk, Mr. Nguyen Xuan Dai, CFO Sovico Group and Mr. Nguyen Dinh Thanh, CEO, IIA Vietnam.
Read more: Viet Nam to adopt IFRS by 2025
Data, AI weapons help CFOs “Shape the Future of Finance: Innovation, Application and Transformation”
Genertive AI is a trend and is expected to surpass human intelligence by 2030, the market is forecast to reach 1.3 trillion USD by 2032 with a growth rate of 42%/year. So, what are the opportunities and challenges?
Within the framework of the CFO Summit 2023 event, Speaker Mr. Le Hong Viet, General Director of FPT Smart Cloud gave an interesting presentation with the topic: “Data for AI: What is the next move for CFOs and Business Leaders?”. (According to Gartner, McKinsey 2023 report) AI is being widely applied in many fields, especially in the financial sector, AI has handled highly feasible cases such as revenue forecasting, portfolio optimization or used to automate debt notifications from customers. In fact, FPT.AI has helped automatically process 12 million calls/month, saving 60% of operating costs.
Mr. Viet added: “For repetitive, uncomplicated tasks, leaders need to quickly change, grasp technology trends and apply technology flexibly to save time, labor and operational costs”.
In addition to effectively applying AI, FPT Smart Cloud also introduced FPT CFS, a financial reporting consolidation solution. This is a comprehensive solution that can help businesses save 60% of time, human resources and costs in consolidating financial reports. With some outstanding features such as supporting the consolidation of financial statements according to multiple levels, multiple currencies, multiple standards (VAS, IFRS …) but still ensuring 100% accuracy and integrity of financial data
FPT Smart Cloud is honored to accompany the VietNam CFO Summit 2023 event, celebrating its 15th anniversary, and is proud to bring many new perspectives to contribute to shaping the future of corporate finance in innovation, application and transformation through FPT’s ecosystem.
Read more: Solution for businesses converting from VAS to IFRS
