Media & Insights

CIO When State Street opened a technology center at Zhejiang University in Hangzhou, China, in December 2001, the goals were modest. But since the center opened, State Street has found a valuable foothold in an important Asian IT talent market. The financial services giant set up the center at the university to be part research and development lab, and part application outsourcing facility.

Gartner[April, 2007]: case study What started as a small, offshore R&D facility for State Street Corp. (SSC) is now a fully fledged technology center (TC) in China that has re-engineered more than 100 of its legacy applications.

This article was published on Jiemian News For American company State Street Group, one of the world’s largest institutional asset management companies and investment service providers, apart from its branch and representative office which are located in Beijing and Shanghai, its only wholly-owned subsidiary in China is not based in the “financial center” Shanghai, but in Hangzhou.

This article was published on “Zhejiang Transportation”, the province’s only comprehensive journal circulating in its transportation sector

With the development of science and technology, China’s urbanization process is accelerating. Public transportation, as an important part of the transportation service sector, is inseparable from this urbanization process. The ever-increasing number of small passenger cars, and the shortage of public transportation resources, have made traffic congestion a problem that plagues China’s big cities. Even with methods such as restricting plate numbers, building new roads, and expanding road capacities, little effect has been made. Transportation departments of some cities and regions in China have begun to implement data-based transformations, and have gradually gained an upper hand over the massive, complex and closed nature of the traffic big data, consequently maximizing data usage. Big data technology is increasingly being used to build municipal transportation systems, and is changing the lives of their residents.

In 2017, as one of the thousands that drive smart cities, Hengtian helped the Shandong Provincial Public Security Bureau in turning smart traffic management into reality. On the 18-meter by 6-meter large display in the information center of the Shandong Provincial Public Security Bureau, data are constantly flashing. This data center manages police facilities and police data of Shandong Province, and makes centralized management based on police resources such as plate number restrictions, real-time road conditions, geographic information and monitoring points.

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This article was published on Hangzhou Weekly

Forty years ago, the “Reform and Opening Up” began. Today, under the new environment, the internet entrepreneurship and innovation boom has coined a new trend in Zhejiang’s economic development. During forty years of endeavor and hardship, Zhejiang has advanced through exploration, and developed through innovation. By following its rigorous motto of “Seeking Truth”, Hangzhou based Zhejiang University has managed to cultivate a large number of outstanding talents, and created fruitful results with its persistent scientific and innovative endeavor. Whether it’s the Zhejiang University Laboratory or Zhejiang University affiliated companies like Hengtian, Bangsheng and Qulian, we always adhere to Zhejiang University’s motto of “Seeking Truth”. On the path of innovation, all “People of Zhejiang University” follow the pace of “Reform and Opening Up”, advance wave upon wave with pioneering efforts, to build a new era of dreams.

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This article was published on ZJOL

The first ever “paperless” smart job fair took place in Hangzhou. It demonstrated Zhejiang’s emphasis on talent acquisition and was supported by new technologies such as big data and artificial intelligence. The company that provided technical support for this event was Hengtian, a local company in Zhejiang which stems from the Computer Science department of Zhejiang University.

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This article was published on NetEase News and CZTV

On the morning of May 11, crowds gathered on the cherry blossom flanked runway in the Binjiang District, known as “the most beautiful runway”. The event brimmed with enthusiasm and energy. As soon as the starting signal was given, the “Helping the Disabled – Dafu Invites You to Run for Charity” event entered its liveliest stage. Volunteers from Hengtian were among the charity runners. By joining this marathon, they hoped to spread love, and call on the public to care for people with mental disabilities. This charity run was aimed at encouraging the public to slow down the pace of life, open their hearts, get closer to nature, and care for people with autism.

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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)

As the RMB has been gradually appreciating, it has begun impacting China’s outsourcing field. According to the latest?statistics from consultants of CCID, one of the most prestigious websites especially for the IT industry in China, the growth rate of Chinese software outsourcing firms has decreased from 55.4% in 2006 to 40.6% in 2007.

According to another latest comprehensive statistics report from CCID, China’s software outsourcing services market is expected to rise by 35% in compound annual growth in the coming five years, outpacing the global market growth of 13%.  By the year o f 2012, the scope of China’s software outsourcing service market is expected to surpass $US 9 billion.

(Topoint.com.cn)

August, 6th, 2010: Insigma Technology Co. Ltd. was featured as a 2010 Global Services Top 100 provider in the 5th Annual GS100 study conducted by Global Services in association with NeoAdvisory, the globalization and sourcing advisory firm.

The 2010 GS100 list represents companies that serve mature global customers through advanced global delivery models, have broad portfolio of service offerings or niche leadership, and demonstrate business excellence.

Companies who opted to participate in the survey were asked to share exhaustive information through an online survey done during April & May 2010. The top 100 list and the names in the categories are derived using a scientific research methodology based on over 200 data points.
The GS100 model for analysis is based on four primary pillars:
Management Excellence
Customer Maturity
Global Delivery Maturity
Breadth of Services Portfolio
About Global Services and GS100
Global Services, a media platform by CyberMedia, serves the global ITO and BPO industry through quality content, research, services, and marketing solutions. GS100 is the annual survey and analysis of the global ITO-BPO industry done by Global Services in association with NeoAdvisory. The survey recognizes service provider excellence and maturity to serve the global market. The GS100 is a benchmark in the global ITO and BPO industry because of its rigorous methodology, exhaustive coverage, and value to the services buyer community.

The 2010 GS100 List can be accessed online at http://www.globalservicesmedia.com