FPT makes bold digital bet, aims to boost revenue by 50% in 2021

FPT makes bold digital bet, aims to boost revenue by 50% in 2021

Tech giant posted $1.3 billion in revenue during 2020, up 7.6 per cent year-on-year

Truong Gia Binh (FPT)

Truong Gia Binh (FPT)

Credit: FPT

FPT has committed to increasing digital transformation revenue from overseas markets by 50 per cent in 2021, reaching a target of US$209 million as the technology giant expands beyond Vietnamese heartlands.

Announced via the company’s annual shareholder meeting, the business is prioritising the delivery of cloud, robotics process automation (RPA) and low-code services, forecast to grow at 50 per cent, 150 per cent and 150 per cent in revenue respectively during the next 12 months.

Despite the challenge of COVID-19, FPT posted $1.3 billion in revenue during 2020, up 7.6 per cent year-on-year, supported by “positive growth” in overseas markets, including Japan (nine per cent), the US (eight per cent), Asia Pacific (28 per cent) and Europe (one per cent).

At the heart of such ambitions is a “data-driven and customer-centric” strategy, originating in Vietnam and expanding into growth markets across Southeast Asia and beyond. Backed by a portfolio housing 77 digital products and solutions, the technology provider has also widened global network development centre reach in India, Canada, the Middle East, India and Costa Rica within the space of the past 12 months.

“In 2020, FPT has made every effort to turn threats into opportunities and be able to uphold our position as the most valuable technology brand in Vietnam,” said Truong Gia Binh, chairman of FPT. “By continuing taking on the strategy of ‘customer focus at heart’, FPT has what it takes to accomplish all targets set for 2021.”

In addition to geographic expansion, FPT also moved to strengthen digital transformation services offerings, which increased 31 per cent year-on-year. This was evident by the recent launch of a new digital transformation consulting subsidiary in the form of FPT Digital.

The new division - the eighth member company of FPT - was launched in late February with the ambition of creating digital consulting services for customers while at the same time promoting “new initiatives and innovative business models”.

As reported by Channel Asia, the move reflects FPT’s decision to shift focus to the digital transformation market after two decades as a major IT services player across Southeast Asia.

The new business makes use of the latest technologies and business models, as well as the broader group’s own digital transformation methodology, called FPT Digital Kaizen. Broadly, the move was part of the company’s efforts to enrich its digital business ecosystem, providing end-to-end IT solutions, from consulting to implementation.

“FPT has productively achieved the goals in 2020, thanks to our quick adaptability in facing challenges, identifying the right opportunities and putting them into results,” added Nguyen Van Khoa, CEO of FPT.

Expansion in the Philippines

Beyond FPT Digital, another of the provider’s spin-off businesses, FPT Software, has opened a new office in Manila amid plans to expand capabilities across the Philippines through the creation of the company’s second-largest delivery centre globally.

Buoyed by strong local growth, FPT Software increased revenue and employee count by 65 per cent and 30 per cent respectively during the past 12 months, shaped by the aim of expanding headcount by a further 25 per cent by the end of 2021.

“As a convergence of both economic resources and talents, Manila is expected to be a major engine for FPT Philippines to grow its business significantly,” said Ralf Mosqueda, managing director of FPT Philippines.

The software specialist first established Filipino operations in 2015, launching in Ceby before expanding presence with a second office at IT Park in the same city four years later. Locally, the provider has prioritised the delivery of business process outsourcing (BPO), software and managed services.

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