China Electronics Growing Demand for Software Tech. Provides More Business Opportunities
2018.08.31
The “2007 Chinese software enterprises revenue top 100 list” has been announced in Fuzhou city, Fujian province.  Huawei Technology Co., Ltd, ZTE Corporation and QingdaoHaier Group were ranked the top3 of the list.  The list indicates a current increasing demand for the software technology. The market is full of opportunities Bingke Wang, vice director of Economic System Reform and Operation Department, Information Industry Ministry, points out that as a trend of fusion is surging between software and hardware,software and service,software and network, among software technologies and software corporations, there exists abundant opportunities for software enterprises. Success case of Insigma Technology Corp. Founded only 6 years ago,Insigma Technology Corp. has already been a leader in the software industry.  In retrospective, its first significant accomplishment was in the US market and backed by Zhejiang University’s technology support.  In that year, the founder of Insigma had a lecture speech in Boston University and met an American named Jerry Cristoforo, who later became the CTO of State Street Corp.  As a leading financial institution in US, State Street spends US$1 billion on IT annually.  At that time, for one of the trading systems at State Street could not meet the demand of company’s business operation, Jerry turned to Insigma for an urgent technology support.  Out of Jerry’s expectation, it took only 3 months for Insigma to complete a new fund management system for State Street’s expanded business processing. A compensation of US$ 300,000 for the accomplishment of the project was “ the first bucket of gold” Insigma has made, and it also became the foundation of Insigma’s outsourcing business towards US market.  From that point, Insigma has gained a footing in the highly-demanding financial service area. Insigma now has been on a pace of widening and expanding business in the global market.  In 2007, Insigma Technology and State Street established a joint venture that specialized in providing global institutions with financial software service. With its’s own R&D capability, State Street’s rich resources and network base, Insigma is speeding up a fast business expansion worldwide. Insigma is also developing its business by keeping a close connection with the world-class fund management companys and stock exchanges. Mergers and acquisitions is another way for the company to grow. Insigma Technology Corp.properly grasped the precious oppotunity to full display its ability in software service.  Insigma’s success would greatly inspire many software corporations in China. The opportunity is extremely precious Hong Zuo, marketing director of IBM China, points out that such opportunitys  from industry structure reform only happen a couple of times over a long period of time. Therefore, Chinese software corporations should pay great attention to them and take advantage of them. A few software corporations which grasped this precious opportunity have also delivered great results.  The story of Nari-Relays Electronic Co., Ltd is one of the sucess cases to best relect Hong’s point of view.  On one hand, as the nation’s economy grows fast ,China has expended more in the upgrade of electric power grid, and there is much more demand for the electric power nowadays in China, which all provides NR a space to develop. One the other hand, NR’s own R&D products and technology support from Chinese Academy of Engineering made it competitive in the market. Yantai Dongfang Electronics Information Industry Group Co., Ltd, another electric power software services provider, did not perform well in the past few years.  This year, with the increasing market opportunities, it rose to the new highs in the stock market and began to grab more market share. Many other software corporations have also found many chances to expand their businesss.  FAW Qiming Automobile CO., Ltd., a spin-off from Changchun FAW-Sihuan Automobile CO.,Ltd., has made a great achievement, as it puts strength in providing automobile enterprises with financial software services. Now it has also been on a fast pace of entering into the capital market.   Kunming Kunchuan Logistics Inc, combining shipping industry with software business, also has initiated new developing space for China's software industry.  FFCS, a joint venture of China Telecommunication and FUJITSU, which specializes in the software R&D, has been ranked in Top100 software corporation list this year.  Top quality software technology of Beijing Hollyinfo Technology Co., Ltd was much dedicated to the Multiple Unittrain’s speed-up program. In China, with the prosperity in fields such as telecommunication, railway, petroleum,petrochemical and finance, software enterprises have figured out a broader space for living and growing rather than focus in software R&D.   Software enterprises is upgrading their capabilities, as the fusions is surging in the software industry. That is the key point of software corporations’ role transition. (China Electronics News,  Ziran Zhang)
About Hengtiansoft
Hengtian is a technology services company in Hangzhou, China, an alliance among State Street Corporation, Insigma Technology (a Global Outsourcing 100 Company) and Zhejiang University (A Top Three University in China). Hengtian is dedicated to providing reliable and professional IT services and products for companies at home and abroad. The company offers enterprises customized software development services and IT products and solutions in relation to finance, manufacturing, and retailing, to name a few.