On February 25, 2022, FSI Technology Development and Trading Investment .,JSC cooperated with Iron Mountain Vietnam to organize the event “Information Lifecycle Management and Digital Transformation, Better Together.” This event marked the official cooperation between two leading companies in digitization, digital transformation (FSI), and information management storage (Iron Mountain). Concurrently, introduce to customers solutions to manage data lifecycle and intelligent business digital transformation.
The information lifecycle management in the digital transformation journey – A complicated problem for all businesses today.
Records of data and information are the most valuable assets of any business; it determines up to 70% of the success of a transaction. However, in Vietnam today, more than 70% of information and data are still stored on paper; More than 90% of businesses are still traditionally exploiting this asset through storage in warehouses, cabinets, shelves, etc. The storage time can last from a few years to forever, depending on the law and the business requirements.
Storing documents traditionally makes businesses expensive and faces risks in information security, data loss affecting business operations if not careful. Specifically, according to IDC, the US spends $25-35 billion every year filing, storing, and retrieving paper; Each 4-drawer file cabinet holds 10,000-12,000 documents and occupies about 2.7 square meters of floor space, and costs $1,500 per year to sustain.
Furthermore, the COVID-19 epidemic has caused a significant change in businesses and employees, with many innovative working models and jobs arising to replace the traditional way of operating. This requires a shift in data mining and administration practices and how they run and work to accommodate the “new normal” period.
To solve the problem of information lifecycle management and promote successful business transformation, FSI, Vietnam’s leading digital transformation solution provider, has officially partnered with Iron Mountain – the world’s leading provider of information storage and management services (with over 70 years of experience and more than 1400 facilities in 50 countries), to host the event “Information Lifecycle Management and Digital Transformation, Better Together.” The event also serves as a signing ceremony for the two companies’ official collaboration in providing the most effective solutions for the digitization, data storage, and digital transformation.
Workshop “Information Lifecycle Management and Digital Transformation, Better Together” co-organized by FSI and Iron Mountain.
The Workshop “Information Lifecycle Management and Digital Transformation, Better Together” was held live from 15:00 to 18:30 on February 25, 2022, Vietnam time at Liberty Central Saigon Center hotel, 59 Pasteur, Ben Nghe, District 1, Ho Chi Minh City. The event had the participation of leaders, managers, representatives of many companies and organizations operating in many different fields such as – Banking, Finance – Insurance, Construction, Real Estate, etc., along with guests, representatives of units, state agencies, and representatives of media agencies, press reports.
According to Mr. Tran Viet Hung, Commercial Director of Iron Mountain in Vietnam, “Data and information records are the most valuable assets of any business, yet more than 90% of businesses are still exploiting this property traditionally. In the post-COVID period, Busineses need to be ready for breakthroughs, and lifecycle management of data records is an important first step. Whether operating in an offline, online, or hybrid model, Iron Mountain Vietnam always brings you the powerful, flexible and reliable data protection and records management solutions.”
At the event, representatives of FSI and Iron Mountain provided beneficial knowledge, experiences, and solutions to help businesses:
- Intelligent data protection and mining
- Improve the method of Data Governance
- Automate efficient workflow
- Multi-system data integration and formats
Strategic cooperation between FSI and Iron Mountain is determined to dominate the digital market.
In addition to sharing information on protection and exploitation issues, the seminar saw the signing of a strategic cooperation agreement between FSI and Iron Mountain, with FSI becoming a partner in implementing the Iron Mountain Group’s Development Strategy for the digital market (Digital Solutions) in Vietnam.
Iron Mountain is a global pioneer in information management and storage services, founded in 1951. With a network of more than 1,400 facilities in more than 50 countries and a total storage area of more than 85 million square feet, Iron Mountain is trusted by more than 220,000 organizations worldwide. Iron Mountain specializes in storing and protecting billions of assets through information, including critical business information, sensitive data, and cultural and historical artifacts. Secure data storage, data information management, digital transformation, secure document destruction, and data center and other cloud services are among the services offered by Iron Mountain. Iron Mountain assists businesses in lowering costs and risks, complying with information security standards, recovering from disasters, and transforming their business practices to be more digital. Visit www.ironmountain.com for more information.
In searching for suitable partners in the Vietnamese market, Iron Mountain found that FSI is a leading digital transformation unit in Vietnam with more than 15 years of experience in digitization and digital transformation. Both sides have found commonalities in each business’s mission, core values , and the development directions, leading to the cooperative decision to bring customers the most suitable storage solutions, information management, digitization, digital transformation.
This signing ceremony is a milestone marking the connection and cooperation of the two companies and, at the same time, opening a new journey with many goals and challenges to conquer. This is the first important step in Iron Mountain’s journey to enter the Vietnam market. And with FSI, the cooperation with Iron Mountain is not just about adding a new service but also about opening a new direction in managing the entire data lifecycle.
Sharing at the event, Mr. Bui Ngoc Binh, Deputy Director of FSI Technology Development and Trading Investment JSC – Ho Chi Minh City branch. Ho Chi Minh said: “FSI is very honored to be accompanying Iron Mountain in the Vietnam market. I believe this cooperation will open up many opportunities for FSI, Iron Mountain, and many Vietnamese businesses. The solution that FSI and Iron Mountain research cooperation offer can solve many backlog problems of documentation and information storage at the same time.”
This cooperation between FSI and Iron Mountain opens a professional digital ecosystem that meets international standards and matches the criteria and characteristics of businesses in the Vietnamese market. Accordingly, companies can save a lot of information management costs from Iron Mountain’s solutions and increase the efficiency of using information for business and production activities based on FSI’s digital transformation solutions.