Grasping opportunities in the growing IT market
Globalization and rapid development in information technology have provided a large number of “borderless-jobs” for Vietnamese people. These include active engagement in the global value chain and business process outsourcing (BPO) across many industry sectors.
Today, with enhanced IT skills and access to technology people can take part in real estate projects in any corner of the world. In particular, graphics-related jobs contribute notably to the expansion of the IT sector in Vietnam. IT related BPO accounts for 43.8% of the total IT jobs in Vietnam (TopDev, 2020). These jobs include either photo or video editing, retouching, 3D visualization, etc.
As part of its commitment to delivering relevant training programs that meet market needs, REACH quickly identified these growing markets. Consequently, it developed a range of training programs to meet these needs including Graphic & Web Design, Video Editing, and 3-D Modelling.
Furthermore, it grasped the opportunity to develop a new Social Enterprise that aligns with these skill training programs.
In July 2018, REACH initiated a new start-up business, Viewzz (previously Revina). Established as a social enterprise, it provides a wide range of photo editing post-production services globally for the real estate industry. These include 3D visualization, graphic post-production (photo/video editing), floor plan.
Viewzz was also established with the aim of assisting REACH to become financially sustainable. This means all profit gained by the enterprise is reinvested in vocational training for disadvantaged youth at REACH.
In response to the expectation of its ‘parent’ organization, REACH, Viewzz has achieved incredible growth over the last 2 years. Initiated with four staff in 2018 it now has more than 40 employees and is currently recruiting and additional 27. Viewzz has developed a strong and loyal customer base across the world. These include customers from the USA, Canada, Australia, New Zealand, UK, and many Western European countries. Last year, the company broke even and has consistently been increasing its revenue. Since January 2020 it has increased revenue by 15% per quarter which is a remarkable achievement considering the global disruption to business caused by the COVID-19 pandemic.
In addition to delivering on REACH’s objective to achieve financial sustainability, Viewzz has created a number of secure jobs for REACH’ graduates. It is a young, dynamic, and protective workplace where many disadvantaged youth benefit from engaging in productive and meaningful work.
These outcomes clearly indicate that REACH is on the right track and applying relevancy and innovation to its work in improving outcomes from Vietnam’s disadvantaged youth.
That said, the nature of technology is rapidly changing, and this is one of the main threats in the industry.
For example, Nguyet Tran, production manager at Viewzz says, “The market has seen a significant drop in using 3D modeling in real estate 3D visualization”. “The software previously used to deliver these services is now simply out of date for the real estate sector.”
Being aware of these changes in demand and developing new training packages to meet them is a key challenge. Viewzz has a critical role in identifying these changes and providing timely solutions.
Last week, the REACH team had an official meeting with Viewzz CEO, Hai Nguyen, and production managers, Nguyet Tran. REACH received feedback on the relevance of its training to the needs of the market and discussed a plan of action to better align its training to support the work of Viewzz.
These included consideration of updating the training curricula of IT courses, the development of sharing training resources, and a detailed plan for retraining teachers to better prepare students for the new market requirements.
“The closer the training section aligns with business needs, the more resilient students will be in front of the rapid changes in technology,” says Tam Pham, REACH executive director. “And we achieve that through Viewzz.”
“We are living in a super busy world. There are very few businesses willing to apply resources and invest in relevant training initiatives” says Tran. “It is a great advantage that REACH can support Viewzz through its training initiatives and similarly that Viewzz can ensure this training always meets the changing market demands.”
A model of sustainable growth
Despite the COVID-19 crisis that has affected a wide range of business sectors, there were fewer IT jobs affected. Only 7% of IT companies in Vietnam reporting an employee cutdown (TopDev COVID-19 report, 2020).
During this period, Viewzz has even seen a reverse situation with continuous growth in the business outcome and has maintained secure employment for its staff.
The proven resilience and sustainability of the IT field and Viewzz response has allowed REACH to be optimistic about its future success as it moves towards 2022 and the hope of a more stable global economy. This includes an ambitious plan to expand Viewzz to a company with 300 employees, creating jobs for hundreds of disadvantaged youth through effective training and real job opportunities.