Yonyou Network Technology (600588.SS) held the Yonyou BIP Globalization 2.0 Strategy Launch Conference in Hong Kong on May 9, 2023, introducing the globalization 2.0 strategy ‘New Products, New Solutions, New Regions’. This event marked the full-scale promotion of Yonyou’s cloud service product, Yonyou BIP, and the release of new finance and HR management solutions for globalization. With 20 years of expertise in Hong Kong, Yonyou aims to deepen business operations in the APAC region and expand the business to Europe, America, Japan, and the Middle East.
Founded in 1988, Yonyou is the world’s leading enterprise management software and cloud services provider, offering industry-wide ERP software and SaaS solutions. Yonyou has been recognized by Gartner as global top 10 ERP providers, and ranked by IDC as the largest enterprise management software provider in China.
Stephen Philips, Director-General of Invest Hong Kong, kicked off the conference by delivering a welcome speech to celebrate the 20th anniversary of Yonyou Hong Kong.
Yonyou Network’s CEO, Wang Wenjing, announced at the conference that in 2023, the company will upgrade its business system from Globalization 1.0 to Globalization 2.0, expanding beyond the APAC region to Europe, North America, Japan, and the Middle East. Yonyou will further deepen business operations in Southeast Asia and collaborate with more global partners, including ISVs and professional service providers, aiming to provide localized services to support the global expansion of local and cross-border enterprises.
Globalization application, localized services, and data security and compliance are the three most important factors for global enterprises to consider in the digitalization process.
Based on 35 years of industry know-how and large-scale customer cooperation, Yonyou has strategically organized the largest R&D team in the industry and spent 7 years to develop the next-gen cloud ERP product – Yonyou BIP, which is based on cloud-native architecture and has reached a global leading level in platform technology and application architecture, domain and industry applications, and ecosystem.
Yonyou BIP covers 10 major domains including finance, human resources, supply chain, procurement, manufacturing, marketing, R&D, projects, assets, and collaboration. As the largest enterprise application service group in the world, Yonyou BIP adapts to the new requirements of integrated applications in the new phase of enterprise digitalization.
Yonyou BIP offers various capabilities such as multilingual support, time zone adjustments, and localization features to meet clients’ needs; provides regional and localized application presets based on client application scenarios and global data models.
Yonyou has set up the International Data Center (IDC) in Singapore since March 2022, which greatly enhances data security and compliance, and safeguards client privacy to serve more overseas clients. In 2023, Yonyou’s major cloud products such as YonBIP and YonSuite will be fully deployed and promoted to the global market, marking Yonyou’s entry into the Globalization 2.0 era.
Under the Globalization 2.0 strategy, Yonyou BIP has launched new solutions for finance and human resources management. In finance management, Yonyou BIP offers intelligent solutions based on Event Approach Accounting Theory, including multiple data center deployment, data security, and global reporting, to help enterprises integrate finance and business globally.
Yonyou BIP also assists with global human resources management by enhancing HR management platforms for attendance, payroll accounting, and other applications. It also offers global talent services, including personnel control, recruitment, dispatch, cross-region collaboration, and data governance, to optimize personnel management for enterprises.
The well-known integrated logistics company J&T Express shared their experiences in digitalization using Yonyou. With almost 350,000 employees in 13 countries, J&T Express operates express delivery in 13 countries and international logistics businesses in 86 countries. CFO Xu Liang of J&T Express Singapore stated that through their partnership with Yonyou, they can build a digital intelligent logistics operation network covering over 2400 business scenarios, implementing 200 companies in 15 countries, and serving 3000+ financial and business users. J&T Express delivers comprehensive and sustainable logistics solutions to over 2 billion users worldwide.
From Hong Kong to APAC, Yonyou has successfully gone through the globalization 1.0 era. With seven institutions established in Hong Kong, Macau, Taiwan, Singapore, Malaysia, Thailand, and Indonesia, Yonyou finished product delivery in more than 40 countries, serving over 1,000 high-end overseas customers, and forming a team of over 400 professionals overseas.
Entering the Yonyou globalization 2.0 era, Bowen Guo, General Manager of Yonyou Overseas and Yonyou Hong Kong, stated that the goal is to expand from APAC to the globe, completing expansion in major regions within one year, entering Europe, North America, Japan, and Middle East markets, achieving project delivery in more than 100 countries within three years. Yonyou aims to increase global market share, strengthen cooperation with global clients and ecosystem partners, and promote product globalization and R&D process to enhance Yonyou’s market competitiveness and product innovation capabilities worldwide.
Over the past 20 years, Yonyou has served over 1,000 mid-to-high-end customers in major industries such as finance, retail, real estate, construction, and trading, empowering digital transformation and cross-border management for enterprises. With Yonyou, a large traditional Chinese medicine company in Hong Kong created a digital platform integrating finance, supply chain, HR, and OA, accelerating the promotion of Chinese medicine to overseas market; a well-known automobile distributor in Hong Kong achieved cross-border financial sharing between mainland China and Hong Kong, building a digital network for 500 finance officers across 140 stores; a global telecom operator built a global HR management platform to manage employee performance in 35 countries and regions, achieving full-cycle, close-loop management by unifying 25 sub-processes.
As more and more Chinese companies leading in digitalization, Yonyou will accelerate its globalization development strategies, serving over 100 countries and regions within three years with innovative technologies and products.
Yonyou will also collaborate with global tech companies, industry leaders and ISVs, and professional service providers to create a win-win partnership ecosystem. This partnership will involve in-depth collaboration in platform integration, application development, independent control, collaborative innovation, and marketing promotion, providing global enterprises with higher quality, more comprehensive and convenient enterprise application software and cloud service solutions, breaking geographical barriers, and accelerating enterprises digitalization.