Digital Transformation Partnership between BaF and Citek with SAP S/4HANA Cloud & IFRS

On March 11, 2024, BaF Vietnam Agriculture Joint Stock Company (HOSE: BAF) and Citek Technology Joint Stock Company officially signed a collaboration agreement, initiating the Comprehensive Enterprise Digital Transformation Project with SAP S/4HANA Cloud solution and the adoption of International Financial Reporting Standards (IFRS).

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BaF is an Animal Husbandry business with a closed-loop model: Feed – Farm – Food, owning the first animal feed factory in Vietnam to achieve the highest international certifications in the industry: Global G.A.P CFM and FSSC 22000; GLOBALG.A.P IFA certification for farms, as well as multiple awards and titles from the Ministry of Agriculture and Rural Development, reputable organizations, etc.

Currently, BaF is heavily investing in digital transformation to meet its growth strategy by collaborating with Citek to implement the SAP S/4HANA Cloud project while converting and adopting the International Financial Reporting Standards (IFRS). As committed, the SAP system will be advised and deployed by Citek within 10 months and officially put into operation in January 2025.

Ms. Bui Huong Giang – CEO of BaF said: “With a dynamic team, the digital transformation journey is expected to accelerate BaF’s development, bringing about more noticeable and resource-saving efficiency. The digital conversion on the SAP platform also allows us to be ready to accelerate for a new growth phase with an operational scale expanded to over 100 farms, 11 animal feed factories, 2 processing factories, and becoming one of the top 3 largest animal husbandry enterprises in Vietnam by 2030”.

In the long-term growth strategy, BaF’s leadership highly values the importance of applying new business models based on comprehensive and in-depth data application, fast processing speed, and advanced technology in all activities to enhance the ability to quickly respond to market fluctuations, create competitive advantages, and aim for sustainable development. The SAP S/4HANA Cloud solution applied at BaF helps build a transparent and professional management platform, facilitate business operations, human resource training and management, and better connect with customers and shareholders. It also creates a competitive advantage and supports the company’s sustainable development in the next stages.

“Digital conversion is part of BaF’s corporate culture-building and formation process, where we always make efforts in every period to keep up with the changes of the era, be ready to integrate and seize new opportunities,” Ms. Giang added.

Mr. Nguyen Cong Tan, CEO of Citek, speaking at the event

“With a high determination to become a top leading technology livestock company in Vietnam, BaF applies international best practices to the entire Feed – Farm – Food closed-loop. The value generated from the SAP system will help BaF optimize its operations, establish a foundation to achieve its goals by 2030, and aim for sustainable development. With a strong implementation capacity, Citek commits to work closely with the entire project management board, making strong efforts to ensure the project’s successful implementation and official operation in January 2025” – Mr. Nguyen Cong Tan – CEO of Citek emphasized.

“The Digital Conversion project at BaF Vietnam is a large-scale project, with a long 10-month implementation time, accompanied by great value that the company will achieve after successful operation. SAP is committed to accompanying BaF before, during, and after implementation, helping the company operate the system effectively,” said Mr. Nguyen Hong Viet, CEO of SAP Vietnam.

In her role as the project steering committee chairwoman, Ms. Bui Huong Giang – CEO of BaF – trusts in the professional team and Citek’s implementation capacity, as well as SAP’s support to help BaF improve its management system.

BaF project team, Citek, and SAP representative at the ceremony

About Citek

Citek is known as a consulting and implementation company for comprehensive ERP digital transformation solutions (SAP & Oracle NetSuite), CRM, MES, Data Collection, IBP, Business Planning, Business Intelligence, integrated with other platforms and solutions such as DMS, HCM, Delivery, E-commerce,… Citek has gained the trust of over 100 reputable corporate customers in and outside Vietnam, including Hoa Phat Dung Quat, Gelex Electric, Vicostone, Cadivi, VAS Group, Eurowindow, Loc Troi Group, A & An Rice, Vicostone, An Cuong Wood, Uniben, Fulbright University, Honda Vietnam, Ajinomoto, Win Brothers Group, MOG group, BW Industrial, etc.

                                             

                                             

                                                                                                                                     

                                                                                                                                    

                                                                                              

                                                                       

                                                                       

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