TP&P Technology: Startup Incubator and Software Solutions Partner
Ho Chi Minh City-based TP&P Technology is a part of the IT boom in Vietnam that has been powered by lower labor costs, infrastructural improvements, and business-encouraging tax regimens of Vietnam. Founded by Toan Nguyen, a recognized expert in IT consulting operations and successful IT entrepreneur in Vietnam, TP&P a leading and pioneering IT service provider and IT investment management firm who provides diverse IT services ranging from custom software development, IT infrastructure managed services, BPO, and business solutions consulting to its customers and aims to form strategic partnerships to assist corporations and startups in product development. TP&P also offers a range of investment and service provision strategies to its clients, by utilizing the deep experience and expertise of its competent talent pool.
The firm aims to cater to “domain technologies and vertical industries” and promises quick adoption of technology in a cost-efficient manner. Supported by a team of young, enthusiastic local engineers experienced in custom software development services, TP&P emphasizes on understanding the customer’s needs before providing the solutions. TP&P’s primary focus is to deliver end-to-end services and projects which are customized to meet the client’s specific needs.
TP&P tailor makes its own V-V model for software development, with an agile methodology approach in project management. TP&P’s “Fixed Cost Projects” offering follows a plan based on the customer’s well defined needs. This works best with clearly defined projects and with short-time delivery projects that require instant access to skilled resources. Companies opting for TP&P’s “Offshore Development Center” service can leverage TP&P’s resources to ensure long-term profitability and to decrease operational costs. Foreign companies can therefore outsource their product development operations to Vietnam and take advantage of the favorable business environment present there. For those who plan to establish their development center in Vietnam, TP&P “Build-Operate-Transfer” service provides an arrangement in which they develop and operate an IT infrastructure for the client. Eventually, the project ownership is transferred to the client.
We aim to attract clients by providing unique services of the highest quality, which clients will be willing to pay regardless of the cost
The firm is a committed investor with a flexible client-oriented approach and views its investments as long-term partnerships. TP&P invests in promising startups in Vietnam as well as startups in bigger economies like the U.S. and Singapore. TP&P acts as a technology startup incubator, nurturing budding startups by advising them and providing them with technical product development support, marketing strategies and funds. Toan Nguyen, founder and CEO highlights the understated challenge startups often encounter when recruiting talents or partnering with larger IT companies for software product development support. These startups—who need a certain degree of flexibility—find it difficult to deal with or keep up with their bigger partners, who often lack this required flexibility. Nguyen states, “When the company was first founded, we encountered the same challenges, as any fledgling company, of building up capacities to expand and obtain new business opportunities especially attracting, hiring and retaining the talent in a cost-effective way. Customers do not compromise with quality of resources and deliveries, while expecting cost-effectiveness. However, we were able to overcome them by promoting human resources centric strategy within the organization and creating the environment where each individual considers oneself as a part of the company such as sharing the company vision, purpose of works, giving the employees appropriated authority and autonomy to accomplish their jobs, and offering employees the company’s stock. TP&P has exceeded our expectations in the early stages and we’re anxiously looking forward to what lies ahead.”
A case study of one of TP&P’s clients, involves a prolonged three-year business venture that ended up in futility. TP&P entered the frame and helped this client build its product from scratch. The new product that they developed together was more scalable and performed well in the market, providing significant returns.
With Vietnam’s IT boom slowly reaching its zenith, IT professionals are in demand and highly skilled workers are difficult to recruit. This presents a suitable time for professionals with the right skills. However, Nguyen admits that over the next five to ten years the country might lose its favorability as a low-cost outsourcing destination to its neighbors. And, to counter such plausibility TP&P adopts a long-term strategy. “We acknowledge that we cannot continue to offer cost-effective measures forever. Therefore, we aim to attract clients by providing unique services of the highest quality, which clients will be willing to pay regardless of the cost.”
The firm has a pragmatic approach in developing its products, partnering with industry leaders who possess the experience, knowledge, and network of association to develop quality products. With added emphasis on the quality of its service, flexibility in its core, supported by a young, enthusiastic talent pool and led by a visionary approach, TP&P Technology aims to partner with major corporations and nurture budding startups around the world, raising IT standards along the way.