Staff work at FPT Software Co. Many software developers said that there was a vast untapped market since only a fraction of the thousands of companies in the country have invested in business management software. — VNA/VNS Photo

HCM CITY  (Biz Hub) — The market for business management software is promising for IT companies thanks to increasing demand for more effective management among local companies.

Many software developers told Viet Nam News that there is a vast untapped market since only a fraction of the thousands of companies in the country has already invested in business management software.

It is an effective tool for companies to strengthen their competitiveness against domestic as well as foreign rivals by allowing them to better manage assets, accounts, human resources, and other aspects, they said.

"There is no study or research available on the exact demand," Nguyen Thanh Tung, director of the Viet Nam Data Communication Information Technology (VDCIT) Centre, told Viet Nam News.

"But it is clear that more and more companies have invested in and focused on developing information technology to improve their management."

VDCIT has come out with solutions for tasks like customer relations management, human resource management, project management, big customer relations management, and assets management and found that "the market is in a fledgling state and has not been explored and the potential is huge."

He explained that only big companies buy expensive and comprehensive management solutions covering all aspects of business.

The smaller ones, based on their specific needs, use individual and specialised software, he said, adding "thus, there is a great opportunity to develop them."

A marketing staff at a software company in HCM City's Binh Thanh District, who asked not to be named, told Viet Nam News that her company also saw a growth in demand for business management software.

"Only large companies buy comprehensive software because the price is expensive at around US$20,000. Small companies buy individual solutions."

"Vietnamese software developers have an edge over their foreign rivals," Tung said.

"Made-in-Viet Nam program-mes will be easy to understand because of the language. Furthermore, Vietnamese solutions will be consistent with the country's laws and regulations."

"VDCIT is setting up a distribution system and plans to invest more in human resources and use cloud from next year," he said. — VNS