Vinamilk is a national brand and is among the top 40 largest dairy companies in the world in terms of revenue; it has been at the top of the best listed companies in Vietnam for many consecutive years. Currently, Vinamilk has expanded its scale to 46 units including: 1 head office and 5 branches, managing a system of 15 dairy farms and 16 factories in Vietnam, Cambodia, Laos and the US, 2 warehouses, and 12 subsidiaries, along with affiliated companies both domestically and internationally. The enterprise has also exported products to more than 60 countries and territories around the world such as the US, Japan, the Republic of Korea, and Australia.
Corresponding to the scale of production and business activities, accounting, tax and financial management at Vinamilk are always the bright spots of the enterprise despite having to manage a huge amount of accounting data with detailed and complex operations. The financial information provided by Vinamilk in a timely manner, which fully reflects the health status of the enterprise, has contributed to increasing its reputation with customers, shareholders and large investors. For consecutive years, Vinamilk has been honoured as the top enterprise with the best annual report in the non-financial sector, while always ensuring compliance with regulations on securities and financial markets.
Maintaining its commitment to financial transparency, while increasing operational efficiency in reporting, Vinamilk has implemented many digital transformation projects in financial management and accounting. Most recently, in March 2024, Vinamilk and FPT launched the FPT CFS project, building a roadmap to implement the digitalisation of the Comprehensive Financial Reporting and Consolidation Solution. The project also acts as a preparation step for the conversion of financial statements according to International Financial Reporting Standards (IFRS) and merger and acquisition (M&A) activities of the enterprise.
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Vinamilk and FPT discuss the FPT CFS project, building a roadmap to implement the digitalisation of the solution for financial reporting consolidation and closing. |
In only 3 months, the professional teams of both sides have completed the preparation, data standardisation, and automated integration of data from multiple sources to be ready for implementation. The “lightning speed” in the project implementation process comes not only from the efforts and professionalism of the financial accounting team but also from the consensus and support for innovation from Vinamilk leaders.
Speaking at the ceremony, Mr. Le Thanh Liem, Vinamilk’s Chief Financial Officer, shared: “Digital transformation is a major strategy at Vinamilk, especially in the field of financial management and accounting. Over the years, Vinamilk has been implementing many digital solutions to improve the financial management process and the application of FPT CFS is also in this direction, helping to promote a more comprehensive and effective digital transformation in the company's financial sector, according to international standards.”
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Vinamilk’s Chief Financial Officer Le Thanh Liem shares that digital transformation, including digitalisation in financial management, is a major strategy at Vinamilk. |
The official use of FPT CFS to digitise the entire process of consolidating financial reports at Vinamilk will help automate internal data reconciliation, improve productivity, and increase the accuracy and timeliness of separate reports, consolidated reports and consolidated notes.
Nguyen The Phuong, Deputy General Director and Chief Financial Officer of FPT and also Chairman of FPT Smart Cloud, shared at the event: “We are proud to be a team accompanying Vinamilk in the official operation of the FPT CFS system. It is the professionalism, efforts and innovative thinking from all levels of the Vinamilk team combined with the market understanding and technological capabilities of FPT that have helped to successfully implement the project ahead of schedule.”
At the same time, within the framework of the event, Vinamilk and FPT leaders also hope that the two businesses will continue to accompany and cooperate in the process of innovation, applying new technology to operations and management to help optimise operations and enhance business management efficiency.
