August 15, 2022

Chairman Tung on Vietsuccess: Ambition to go global

In the latest episode of The Quoc Khanh Show series (on the frame of the VietSuccess program), Chairman of Rikkeisoft Ta Son Tung shared stories about the journey of leading a business with 1,500 employees, discussing the direction for IT  startups as well as the outstanding development potential of the IT industry in Vietnam.

Watch a full episode on VietSuccess

“Software outsourcing is no longer a popular direction for Vietnamese IT startups”

Chairman of Rikkeisoft shared for the first time about the company’s growth milestone, the factor that helped Rikkeisoft “go up” quickly at the beginning of its startup. After 10 years of development, Rikkeisoft has taken on high-difficulty projects, receiving advice from domestic and international experts.

According to Mr. Tung, the most crucial milestone in the growth lesson is the landmark of 100 employees. Before this milestone is the process of finding customers to get a job. After this milestone, 70-80% of former customers must maintain cooperative relationships. In addition, processes on ISO, CMMI, and quality management need to be in place after this milestone.

In the current context, Mr. Tung said that outsourcing is no longer a popular direction for Vietnamese IT startups. In the past, because foreign investment funds have not paid much attention to Vietnam, it is challenging for startups to want to make a new product in Vietnam. Raising capital is difficult, so they often choose software outsourcing.

“Currently, when Vietnam has many investment funds, young people are good at developing projects and products that apply new technologies such as blockchain. As a result, so many startups no longer choose outsourcing to start,” he said.

Mr. Tung stated that the Japanese government currently invests a lot in digital transformation by sharing about potential areas in Japan that Vietnamese IT can explore. Vietnam will be the first market that Japan aims to cooperate with because Vietnam has advantages in terms of personnel and quality. In addition, Vietnam’s image in Japan is currently quite reasonable.

Challenges of global expansion

Setting a “go-global” goal, Chairman Ta Son Tung shared more about the difficulties when Rikkeisoft chose this next journey. The first difficulty is the time zone difference. Now Japan is 2 hours from Vietnam, but in the Global market, for example, the US, it’s also more difficult for the light and dark sides. Secondly, competitiveness, in Japan, almost Vietnamese companies do not have many competitors, but at the international level, Rikkeisoft’s competitors are very numerous, and it is a long-term problem.

In addition to the Go-Global goal, Rikkeisoft’s personnel growth goal is also on top. Although there are many problems in the current IT recruitment context, Mr. Tung shared his vision that “farmers know how to code.” (meaning anyone can study and work in the IT industry). Although there are challenging jobs in the IT industry, it is imperative that those who are trained in-depth and methodically. In an extensive IT system, there are tough stages, there are medium-difficulty stages, and there are elementary stages. “Those who are good at hard work, those who work both at the same time and those who work carefully, do simple things but require meticulousness, hard work, and care,” said Mr. Tung.

With specific actions, Chairman of Rikkeisoft desires that Vietnam’s world image will be better. At that time, “rich people” automatically “strong country”. Referring to Vietnam, people mention the leading information technology companies in the region. In the coming time, Rikkeisoft will make goals come true, such as the scale of 10,000 employees by 2025 and IPO and beyond, bringing Vietnamese intellectuals to the world.

More From Newsroom

May 13, 2024

RKTech Attends IBTTA 2024, Gaining Insights into AI and Data in the Tolling Industry

The IBTTA Technology Summit, held from May 4th to May 7th in Atlanta, is a flagship event in the tolling industry that promotes collaboration and knowledge sharing. RKTech was proud to participate, forging valuable connections and demonstrating our commitment to advancing tolling technology. The International Bridge, Tunnel and Turnpike Association: Moving Faster Founded in 1932, […]

May 6, 2024

Rikkeisoft at Hannover Messe 2024: Showcasing Tech Expertise on the Global Stage

Hannover Messe, regarded as the world’s leading industrial trade fair, was held from April 22nd to 26th at Hannover, Germany. Rikkeisoft participated alongside over 4,000 industry companies, exhibiting cutting-edge solutions and facilitating international networking opportunities. Hannover Messe 2024 – A Global Stage for Industry Leaders Held annually since 1947, Hannover Messe has become a renowned […]

May 2, 2024

Rikkeisoft at World IT Show 2024: Opening Partnership Opportunities in AI Tech

On April 17-19, Rikkeisoft was honored to be one of three Vietnamese enterprises participating in World IT Show 2024 held in Seoul, South Korea. World IT Show 2024: Innovation in Everyday Life, Created by AI The World IT Show (WIS) is an annual major trade fair for information technology and digital innovation, held in Seoul […]

March 12, 2024

Welcoming Mike C. Kaufmann: The New Strategic Advisor at RKTech

RKTech is thrilled to announce the appointment of Mike C. Kaufmann, a former Fortune 15 CEO, to the Board of Advisors at RKTech. With a distinguished career spanning over three decades in Cardinal Health, Mike brings a wealth of experience and expertise that will be invaluable to our company’s growth and strategic direction.  Mike’s career […]

March 7, 2024

Rikkeisoft Bolsters Management Team to Achieve Ambitious 2024 Goals 

In a strategic move to strengthen its management team and ensure the successful implementation of its key objectives for 2024 and beyond, Rikkeisoft’s Board of Directors has announced a significant reshuffling and the appointment of new managers across various departments, effective March 2024. This restructuring is part of Rikkeisoft’s ongoing effort to enhance its operational […]

February 28, 2024

Healthcare’s Next Chapter: What’s Ahead for the US Healthcare Industry

Tech Times has an interview with Mike C. Kaufmann, also known as the Board Advisor of RKTech, a former Fortune 15 CEO and a prominent figure in the healthcare sector. The discussion revolves around the opportunities of technology service companies in the healthcare industry.  1, In recent research, these were a few of the healthcare […]