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Before embracing digital transformation, Walmart encountered challenges when infectious diseases broke out through food items. It took considerable time for people to trace the origins of the illness. Consequently, which company applied blockchain technology? The company developed a food traceability system based on Hyperledger Fabric. Walmart, along with technology partner IBM, conducted two projects to test the system. One project focused on tracking mangoes sold in Walmart stores in the U.S., and the other aimed to trace the origin of pork sold in stores in China.
For pork in China, this system allows uploading verification certificates onto the blockchain, providing users with more confidence. For mangoes in the U.S., the time required to trace their origin decreased from 7 days to just 2.2 seconds.
After implementing this digital transformation, Walmart can now trace the origin of over 25 products from 5 different suppliers using a system supported by Hyperledger Fabric.
2. Netflix - A company successfully digitized in the technology and entertainment industry
Netflix excels in digital transformation
Those who love movies surely can't be unaware of Netflix. The company began with a DVD rental model through mail. By 2007, it fully transitioned its operations to online movie rental. This made it easier for people to access Netflix.
The company collaborated with Amazon to develop a world-class backend infrastructure. Partnering with Amazon Web Services allowed Netflix to rapidly deploy thousands of servers and terabytes of storage in a short time, providing customers with the best movie-watching experience. Hence, when you buy a Netflix account and watch movies, you notice the exceptional quality, right?
This model has addressed the shortcomings of traditional business models and tapped into international customers beyond the US market. Exposure to a large amount of international customer data early on has made this algorithm increasingly intelligent, giving Netflix revolutionary competitive advantages over their competitors.
3. Domino’s Pizza – Successfully Digitally Transforming in the Fast Food Industry
Domino’s Pizza, a renowned brand in Vietnam, is a popular choice among people. To enhance operations, Domino's invested in two digital-focused improvements to smoothen the delivery process: Automated delivery vehicles and electric bike delivery. Specifically:
- Domino’s partnered with Ford to introduce autonomous delivery service in 2019.
- Domino’s collaborated with Rad Power Bikes in 2019 to launch electric bike delivery services.
- AI integration in the ordering process has also been a significant factor in boosting the company's revenue.
These innovations led to digital sales surpassing half of the total global retail sales in 2019. Currently, the majority of restaurants offer doorstep delivery services.
4. Adobe – Successfully Digitizing in the Software Technology Industry
For those regularly using technology software, names like Adobe Photoshop, Adobe Audition, Adobe Premiere are already familiar. Adobe specializes in selling software to support users in editing images, vectors, and video editing software.
Since 2008, following a severe economic downturn, the company decided to integrate cloud storage technology into its operations. Thanks to this, Adobe has now established its position with 3 models: creative cloud, document cloud, and marketing cloud. As a result, stock prices sometimes tripled, and Adobe's revenue soared from single to double or triple digits. In 2020, Adobe achieved a record revenue of $12.87 billion, a 15% growth compared to the same period last year.
5. Fujifilm – Successfully Digitizing in the Image Industry Sector
Fujifilm is a company whose main activities lie in the field of photography and film production in Japan. In the 2010s, the rise of digital cameras had a significant impact on Fuji's film business. The company decided to embrace digital transformation to address this challenging situation.
Specifically, FujiFilm transitioned and invested in digital technology, enhancing investments in digital technologies such as LCD displays, digital memory cards, and digital storage. After the digital transformation, Fuji decided to expand its business market, focusing on technology and healthcare.
Fuji has succeeded in introducing various medical imaging devices to the market, diagnostic support equipment, along with a series of other medical products. By leveraging film technology to the fullest, Fuji has developed LCD panels. Thanks to bold and timely decisions, the company has reaped much larger profits than its previous traditional methods.
6. TPBank – A Showcase of Successful Digital Transformation in Banking and Finance
TPBank was established in 2008, primarily operating in the provision of financial products and services. Faced with global changes and the pandemic crisis, TPBank decided to implement the digital transformation strategy it had been pursuing early on. Presently, the bank utilizes AI and other modern technologies such as Machine Learning, Deep Learning, and Optical Character Recognition (OCR).
The bank also deployed nearly 300 virtual bots - implementing akaBot's RPA automation technology internally to shorten process handling time, optimize customer experience, and free up labor for staff. Thanks to digital transformation efforts, TPBank has achieved the title of 'Outstanding Digital Transformation Enterprise,' awarded by the Vietnam Digital Communications Association for three consecutive years.
7. Sephora – Successfully Digitizing in the E-commerce Sector
Sephora is a multi-national retailer from France specializing in beauty and personal care products. To drive business operations, Sephora has applied a digital transformation strategy with a prominent focus on enhancing artificial intelligence: integrating Modiface into their products.
Modiface is an image technology and facial analysis company that has collaborated with Sephora for nearly a decade. Through this partnership, Modiface enables augmented reality 'digital try-on' of Sephora products, allowing shoppers to experience beauty products without visiting stores.
Sephora leverages artificial intelligence to provide product recommendations to members through its visualizing capabilities. Sephora's exclusive Color iQ technology can scan customers' skin to identify their unique Color iQ number corresponding to various cosmetics to meet individual needs and provide personalized recommendations.
As a result, Sephora's sales have seen significant leaps.
Above, Vntrip has sent readers a selection of successful digital transformation companies for reference. It is undeniable that digital transformation is an urgent and important need for businesses to keep up with the world's development and drive business operations.
