NextPay, a Vietnamese fintech firm owned by NextTech Group, on March 31 launched the Next360.vn digital transformation ecosystem for micro-, small-, and medium-sized enterprises (MSMEs), with the aim of conquering the huge growth potential of the local market.
|The launch of the Next360.vn digital transformation ecosystem |
For roughly VND560,000 ($24.35) a month, these businesses are able to use a set of 20 products for digital transformation. The products will solve the problems of four main business areas such as business governance, sales, payments, and supply sources and capital.
For instance, for sales, Next360 has NextShop, NextOrder, NextPha, MySpa, and Omisell. For business governance it has accountancy software (NextAcc), personal governance software (NextHR), electronic invoice (vInvoice), and MegaDoc.
|Nguyen Hoa Binh, chairman of NextTech |
Nguyen Hoa Binh, chairman of NextTech, said that while MSMEs account for 96.7 per cent of total enterprises in Vietnam, contribute 40 per cent of the country’s GDP, and create 60 per cent of jobs, they have been slow to approach digital transformation because of a lack of capital and solution providers’ interest.
According to NextTech study, digital transformation solutions providers often focus on government agencies and powerful enterprises in big cities.
Nguyen Huu Tuat, CEO of NextPay said, “NextPay has continuously made investments in joint ventures to help small startups access a network of hundreds of thousands of SMEs nationwide in its NextTech’s ecosystem with the vision of enabling one million MSME to succeed with digital transformation, thus contributing $15 billion to the country’s GDP in the next five years.”
Also at the event, NextPay announced the establishment of Next Academy to train consultants and manpower for digital transformation.
|The signing of the sponsorship contract for Shark Tank Vietnam |
NextPay also announced an investment of millions of US dollars in three startups PosApp, MySpa, and MegaBiz, and signed a sponsorship contract for the fourth season of Shark Tank Vietnam to support the development of the country’s startup ecosystem.