Synnex FPT: Upgrading from “Trading” to “Service”

Synnex FPT aims at gulfing the most market share in the industry of products and technology solutions, meanwhile joining the other industry and reach the goal of 2 bilion-dollah revenue in 2022. That is the first step on the journey of bringing distribution onto a new level which includes not only the products but also add-in services for its partners and customers and accompany others in realize every business growth opportunity.

Synnex FPT is an associated company belonging to FPT Corporation with 50% market share in the distribution industry in Vietnam. In the financial year of 2021, Synnex FPT is the company with the highest growth speed of FPT. Increases in revenue and profit of 55% and 112% respectively contribute to making a business growth the most remarkable in the history of Synnex FPT, bringing it to the mark of thousand billion dollah in revenue. In this special event, Mr. Le Vinh Thanh, President and CEO of Synnex FPT, shared with the press about the company’s ambition to become a world-class distribution company.

Reporter: The Covid-19 sets the world in a new order. How does it impact the domestic technology product distribution industry?

Mr. Le Vinh Thanh: Covid-19 brings on the table challenges that we’ve never seen before to the global distribution chains. At least in the 2 first quarters of 2021, the transportation and supply of products seemed to freeze due to a lack of production resources. In the domestic market, there are times when the business was deeply impacted because of a lack of product supply for the distribution chain when the social distancing policy prolonged. Meanwhile, work and study from home soared. Honestly, we had to do our utmost to balance the very few product supply for every segment and prioritizing the education segment. Towards the second half of 2021 when the world started to put Covid-19 under control and the goods supply bounced back, the market started to pull itself together. How to balance between importing and distributing is a difficult exercise, not only to us but also to all others in the business. After Covid-19, the demand for technology devices and solutions was still expected to increase thanks to the digital transformation process, optimal operation, and improved work efficiency in all industries in Vietnam. Synnex FPT will have to change itself significantly by improving product distribution competence, expanding and modernizing storage, and highly-skilled staff to ensure quality distribution service. Synnex FPT will be extended hands for credited technology brands, lending a hand in bringing the best technology products and services to consumers in the country via the nationwide distribution networks.

Reporter: In your opinion, which element contributes to this impressive result and is the drive force for Synnex FPT’s growth in the coming years?

Mr. Le Vinh Thanh: In my opinion, this result comes from the doubled effort of each individual in the organization. We always put the transformation spirit first. We dare to think and do, we don’t fear difficulties, we dare to accept challenges in spite of  failure.

Aside from that, quick adaptation and flexibility are elements which help Synnex FPT reached the remarkable growth in each of the business metrics. Positively, Covid-19 accelerated Synnex FPT’s digital transformation via kickstarting the unified DDP management platform, optimizing the process to head to the professional distribution services.

2022 will be a blooming year as we set the target of 2 billion in revenue and compound growth. To make it come true,  Synnex FPT need to double its growth rate compared to every month the previous year.  Until January 2022, Synnex FPT has completed 50% of the plan for the first quarter. Key projects such as M&A, storage and warehouse renovation, new products in the Smart IoT & Smart CE field.

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