Technology Businesses and Opportunities to Turn the Tide Post-COVID-19

COVID-19 has caused many industries to “freeze” over the past two years. However, businesses operating in the digital economy and technology sectors still have great potential to reverse the tide and expand their markets, with recorded growth in both user numbers and market size. 

The “New Normal” for Tech Companies

While IT seemed to be one of the least affected sectors by the pandemic, tech companies still faced many challenges both internally and externally. Internally, transitioning between remote work and returning to the office required a mental reset to maintain productivity and business operations. Externally, companies struggled with customer outreach, project implementation, and entering new markets. Many clients were tightening budgets and unable to pay for IT services or projects. Some projects were delayed for extended periods, waiting for a clearer pandemic outlook. However, during prolonged social distancing, COVID-19 significantly altered consumer behavior: more home cooking, less use of cash, and remote work became common. This shift turned industries like e-commerce, e-payment, and tech services into rare bright spots, thriving despite the pandemic. According to German statistics firm Statista, Vietnam’s IT service revenue in 2021 is expected to regain pre-pandemic growth levels—estimated at over USD 1.18 billion and projected to reach USD 1.43 billion by 2025.

Source: Statista, December 2020

Accelerated Digital Transformation Trend

COVID-19 was both a challenge and a litmus test, proving that technology and the Internet will dominate almost all aspects of life in the future. Without them, the world would grind to a halt. During the pandemic, offline activities like working, studying, and shopping were completely replaced by online alternatives. Thanks to technology, people quickly adapted, and businesses continued to operate despite complete lockdowns. The pandemic-induced growth of the digital economy has motivated many traditional businesses to adopt technology and strengthen their online presence. In challenging times, the need for technology becomes even more critical. Mr. Ngo Van Tau – CEO of GMO-Z.com RUNSYSTEM shared: “Approximately 98% of businesses in Vietnam are small and micro enterprises, but most digital transformation solutions on the market are aimed at medium and large enterprises. Therefore, the majority lack suitable tools to participate in digital transformation.”

Mr. Ngo Van Tau – CEO of GMO-Z.com RUNSYSTEM affirms that digital transformation is an inevitable trend for all businesses in the future.

The KAIKE accounting software helps reduce operating costs, offers real-time data access, and supports flexible remote work across devices.

Understanding the difficulties and “pain points” of businesses, GMO-Z.com RUNSYSTEM has developed various products and services to support their digital transformation journey. From providing Internet infrastructure services under the Tenten.vn and Z.com brands—such as domain names, hosting, websites, SSL certificates—for traditional businesses entering online commerce, to building an ecosystem of digital transformation products, GMO-Z.com RUNSYSTEM is heavily investing in R&D to offer flexible, task-suited solutions across business types. Notably, the KAIKE accounting software is the company’s latest product, designed with CEOs in mind. With its simplified and intuitive financial insights, KAIKE enables better management. The company is offering free 1-year access to the first 100 registered businesses. For paying users, the price is only 7,000 VND/day.

Digital Transformation Ecosystem developed by GMO-Z.com RUNSYSTEM

Beyond KAIKE, GMO-Z.com RUNSYSTEM also offers many other digital transformation products including: SmartOCR, SmartKYC, SmartRPA, SmartGIFT, SmartStore, Salefie, etc. These solutions form a comprehensive digital ecosystem that helps businesses optimize operations, minimize manual processes, reduce errors, and improve efficiency. It’s safe to say that technology is redefining how Vietnamese people do business, produce goods, shop, work, study, and communicate. With proper investment, the tech sector has the potential to achieve growth beyond expectations and help the economy overcome the challenges that COVID-19 has posed to traditional industries.