Leaders of Sacombank and partners at the signing ceremony in HCM City on Thustday. — Photo courtesy of Sacombank

Saigon Thuong Tin Commercial Join Stock Bank (SACOMBANK), Viet Nam’s fifth largest private bank in terms of total assets, on September 17 signed an agreement with HR Path, a leading global human resources services provider, for implementing SAP SuccessFactors solutions.

Another milestone in Sacombank’s digital transformation of its banking operations and human resources management, the project is scheduled to go live in June 2021 and wrap up in 2022.

SAP SuccessFactors Solutions integrate recruiting and on-boarding, performance management and compensation, succession planning, learning, social and collaboration tools, and workforce analytics with high levels of precision, especially superior experiences for satisfying and engaging employees, thus increasing productivity and revenues and improving operational efficiency.

All this comes together with a best-in-class user experience to deliver an HR platform that is agile and provides relevant insights and analytics to decision makers.

With SAP SuccessFactors solutions, Sacombank expects to see a significant boost in employee productivity, higher employee satisfaction and improved HR operational efficiency.

Le Duc Thinh, the bank’s deputy director, said, “In recent years digital transformation has been a key objective in Sacombank’s plans to create a solid and comprehensive solution that is Industry 4.0-relevant.

“Our goal is to enhance the operational management capacity, optimise operational efficiencies to better meet the growing needs of our customers, and create new competitive advantages.

“In addition to the continuous effort to digitise the core banking system and banking services as well as enhance operations management, including risk and credit management, with software solutions, digitising human resource management has also been one of our digital transformation goals.

“We realise the importance of human capital management and how it is instrumental in enabling our company to further enhance our operational efficiencies, especially now that our workforce has expanded to over 18,000 employees in Vietnam, Laos and Cambodia.”

In 2018 Sacombank successfully went live with SAP CRM and Hybris Marketing to enhance its customers’ experience in all transactions and interactions with the bank. It was one of the first times that a bank in Vietnam deployed CRM solutions in a comprehensive and systematic way.

Can Thi Thanh Hai, managing director of HR Path Vietnam, said: “With extensive experience in supporting companies improve their human capital management efficiencies, we are confident the project will yield positive results.

“HR Path will propose the best approaches to make the most of Sacombank’s investment in the project and to fully optimize the strength of SAP SuccessFactors solutions.”

Chern-Chuen Khor, acting managing director of SAP Vietnam, said: “A growing millennial generation in the workforce is requiring a different way of human capital management. It may not be enough to give your workforce digital tools that replace traditional processes.

“Achieving an engaged workforce is about creating a human experience designed with human values in mind and supported by intelligent technologies to deliver an impactful business outcome.” — VNS