“Vinamilk and FPT Collaborate to Elevate Financial Management with Tech-Driven Solutions”

This event is a continuation of Vinamilk’s comprehensive financial digital transformation projects as part of its sustainable development strategy, contributing to enhancing the brand’s position in the Vietnamese and international markets.

Vinamilk is a National Brand and one of the Top 40 largest dairy companies in the world by revenue, consistently ranking among the best-listed companies in Vietnam. Currently, Vinamilk has expanded its scale to 46 units, including 1 head office, 5 branches, managing 15 dairy farms and 16 factories in Vietnam, Cambodia, Laos, and the United States, 2 warehouses, and 12 subsidiaries and affiliated companies both domestically and abroad. The enterprise has also exported its products to more than 60 countries and territories worldwide, including the US, Japan, South Korea, Australia, and more.

Corresponding to its large-scale business operations, the accounting, tax, and financial management at Vinamilk have always been a strong suit for the enterprise, despite managing a massive volume of detailed and complex accounting data. The financial information provided by Vinamilk is timely and comprehensively reflects the company’s health, contributing to increased credibility with customers, shareholders, and investors. Vinamilk has consecutively been recognized as one of the Top Enterprises with the Best Annual Reports in the non-financial sector, while also ensuring compliance with securities and financial market regulations.

Maintaining its commitment to financial transparency while increasing operational efficiency in reporting, Vinamilk has implemented numerous digital transformation projects in financial and accounting management. Most recently, in March 2024, Vinamilk, in collaboration with FPT, initiated the FPT CFS project, outlining a roadmap for the implementation of comprehensive digital solutions for financial close and consolidated reporting. The project also prepares the company for the transition to International Financial Reporting Standards (IFRS) and supports its M&A activities.

Vinamilk and FPT discuss the FPT CFS project, outlining a roadmap for digital transformation in financial close and consolidated reporting.

Within a short span of 3 months, the dedicated teams from both sides completed the preparatory work, data standardization, and automation of data integration from multiple sources, ready for implementation. The “lightning speed” of the project’s execution resulted from the dedication and professionalism of the financial accounting teams and the supportive leadership at Vinamilk, embracing innovation and digital transformation.

Speaking at the event, Mr. Le Thanh Liem, Chief Financial Officer of Vinamilk, shared: “Digital transformation is a significant strategy for Vinamilk, particularly in the realm of financial management and accounting. Over the years, Vinamilk has been implementing various digitalization solutions to enhance its financial management processes, and the adoption of FPT CFS aligns with this direction, promoting comprehensive and efficient digital transformation in the company’s financial sector, adhering to international standards.”

Mr. Le Thanh Liem, Chief Financial Officer of Vinamilk, emphasizes the importance of digital transformation, including digitalization in financial management, as a key strategy for Vinamilk.

The official utilization of FPT CFS for end-to-end digitalization of Vinamilk’s financial consolidation process will automate internal data reconciliation, enhance productivity, and improve the accuracy and timeliness of standalone, consolidated, and consolidated explanatory reports.

Mr. Nguyen The Phuong, Deputy General Director and Chief Financial Officer of FPT, and Chairman of FPT Smart Cloud, shared at the event: “We are truly proud to be Vinamilk’s partner in operating the FPT CFS system. The professionalism, dedication, and innovative mindset of the Vinamilk team, coupled with FPT’s market understanding and technological capabilities, have led to the successful implementation of the project ahead of schedule.”

During the event, the leaders of Vinamilk and FPT also expressed their desire for continued collaboration between the two enterprises in innovation and the application of new technologies in operations and management, optimizing activities and enhancing management efficiency.