Empowering Vietnamese small businesses through AI-enhanced procurement

Strive
Mastercard Strive
Published in
5 min readJan 30, 2025

This post is by SoBanHang, a Mastercard Strive partner offering a one-stop business operating system that enables Vietnamese merchants to access market intelligence data and manage end-to-end cross-border procurement effortlessly.

Photo courtesy of SoBanHang

In the fast-paced world of e-commerce, efficiency and agility are crucial for small business success. One area undergoing rapid transformation is procurement, where AI-powered “intelligent procurement” has become a key strategy for enhancing operational efficiency and decision-making. By leveraging real-time data and advanced analytics, this approach redefines procurement from sourcing to inventory management, enabling faster decision-making and strategic resource allocation. For example, a small fashion accessories retailer can now receive AI-driven recommendations on which accessories to stock based on real-time trends, seasonal demand, and historical sales. Instead of manually tracking inventory and guessing which accessories to order, an intelligent procurement system alerts them when stock runs low and suggests optimal quantities. It also highlights trending products that match the shop’s target market, ensuring the shop carries items that resonate with customers. This shifts procurement from reactive, gut-based decisions to proactive, data-driven planning — saving time, minimizing excess inventory, and optimizing working capital for small businesses.

How can micro-businesses leverage intelligent procurement to enhance their efficiency?

Intelligent procurement allows businesses to transition smoothly from traditional and often manual processes — which may be slow and outdated — to streamlined operations. At its core, intelligent procurement uses real-time data to deliver insights into market trends, supplier performance, and spending patterns, freeing teams to focus on high-value tasks such as strategic planning and relationship building.

With more than 600,000 business users across Vietnam, SoBanHang, a trusted leader in small business solutions, is now advancing intelligent procurement for nano- and micro-businesses. In partnership with Mastercard Strive, SoBanHang has introduced SoBanHang Mall, an intelligent procurement platform designed to address small businesses’ unique challenges when sourcing and importing from China. This platform tackles issues faced by small businesses, such as language barriers, lack of market insights, limited bargaining power, complex customs processes, and international payment hurdles. By connecting Vietnamese business owners with trusted Chinese suppliers, SoBanHang Mall provides quick, affordable access to high-quality wholesale products, empowering small businesses to import with confidence.

SoBanHang Mall dashboard. Courtesy of SoBanHang.

SoBanHang Mall combines market data, financial services, sourcing, inventory management, and sales in one seamless platform. This comprehensive solution empowers nano- and micro-businesses to scale more effectively and confidently navigate the complexities of procurement.

How SoBanHang simplifies procurement for small businesses

Intelligent procurement stands out for its exceptional accessibility, effortlessly breaking down barriers for even the most novice users and empowering small businesses that lack procurement expertise to confidently navigate the intricacies of sourcing products across borders. SoBanHang ensures its procurement solution is user-friendly, tailored, and valuable to small businesses in a variety of ways:

  • Simple interface: SoBanHang Mall is optimized for small business owners, with a friendly and easy-to-use interface that is accessible on both mobile and desktop. Users can navigate features effortlessly thanks to step-by-step guidance and intuitive visual cues. The interface follows familiar e-commerce patterns, making it feel comfortable and approachable for Vietnamese users, with minimal learning required. Key features are displayed with 100% Vietnamese language support, allowing users to complete tasks in just a few taps or clicks.
  • Real-time data for dynamic inventory management: Traditional inventory methods rely on historical data, leading to inefficiencies. SoBanHang Mall implements real-time data analytics, allowing small businesses to instantly monitor market trends and customer needs, optimizing stock levels to avoid overstocking or shortages. This approach boosts efficiency, enhances customer satisfaction, and improves cash flow. Additionally, real-time insights on supplier performance and lead times strengthen supplier relationships and negotiation, refining overall procurement strategies.
  • Friendly yet powerful AI assistance: SoBanHang Mall does more than just connect businesses with suppliers — it uses advanced technology to bring real-time market data and customer feedback into clear, actionable insights. The AI-powered assistant not only analyzes historical purchasing data to identify buying trends but also engages with users in a friendly, conversational way, making complex data easy to understand and act upon. This smart assistant provides quick, accurate answers to questions about inventory, product selection, and supplier options, helping business owners make informed decisions effortlessly.
  • Real profits with precise tax calculation: For sellers on e-commerce platforms, platform fees and additional taxes can significantly impact actual profits. SoBanHang’s tool helps small business owners accurately calculate these costs, ensuring that all expenses are properly accounted for. As a result, business owners can adjust their pricing to achieve desired profit margins while fully meeting tax obligations. This feature not only supports reliable profit calculations but also enables business owners to operate with confidence, focusing on growth and sustainable revenue.
  • e-invoicing automation to make compliance easier: With a commitment to comprehensive merchant support, SoBanHang Mall simplifies the import process and regulatory compliance in Vietnam, making it straightforward and hassle-free. Enhanced with automatic e-invoicing for e-commerce transactions, this solution eliminates the need for manual, order-by-order invoicing. When small business owners list products for sale on SoBanHang Mall, seamless integration simplifies tax compliance, enabling automatic e-invoice generation. This reduces administrative burdens, minimizes reporting errors, and ensures full compliance with updated national regulations.

Looking ahead

SoBanHang’s AI-powered procurement solution has already benefited over 4,000 customers and 100 active users. SoBanHang Mall is reaping the rewards too, helping small businesses reduce costs and access global markets. Next steps will enhance supply chain efficiencies and integrate additional AI tools to support even more small businesses and empower them with better pricing, smarter inventory management, and valuable market insights to fuel growth and profitability.

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Mastercard Strive
Mastercard Strive

Published in Mastercard Strive

Mastercard Strive is a global philanthropic initiative by Caribou Digital and the Mastercard Center for Inclusive Growth. The program will equip 5 million small business owners with innovative digital solutions that unleash their potential as catalysts of inclusive growth

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