Identifying criteria, models, and assessing the digital transformation readiness levels of enterprises in Vietnam

Digital transformation is an inevitable trend for businesses around the world. This study provides an overview of the criteria and models for evaluating the level of digital transformation in businesses. Additionally, it analyzes the current state of digital transformation readiness among small and medium-sized enterprises in Vietnam for 2022 and 2023. The overview results indicate that, although many studies have addressed digital transformation, there are still few that provide evaluation models tailored to the specific characteristics of each industry. In Vietnam, the index for evaluating the readiness level for digital transformation in businesses consists of 7 pillars and 34 component criteria, including: strategic objectives; customer experience & omni-channel; supply chain; IT systems & data management; risk management & cybersecurity; financial management, accounting, planning, legal & HR management; and human & organization. However, this index is a common set for all types of businesses across different industries. The criteria used in these indices are currently assumed to have the same level of importance. In reality, their importance should vary between criteria and across different industries and types of businesses. The analysis results show that the average level of digital transformation readiness in 2023 tends to increase in all aspects compared to 2022. Notably, the readiness level for digital transformation in the strategic objectives aspect is the highest, and the most significant improvement is seen in the risk management & cybersecurity aspect. Based on the literature review and the analysis of the current situation, the study provides several discussions to enhance the digital transformation of businesses in Vietnam.