Yonyou CEO: Digital transformation poised to accelerate

The digital transformation of Chinese enterprises has embraced rapid growth and the process will accelerate in the next 10 years, said Wang Wenjing, chairman and CEO of Yonyou Network Technology Co Ltd, on Tuesday in Wuzhen, East China's Zhejiang province.

"Some industries, such as consumer goods manufacturing, retail, finance and telecommunications, have done very successfully in the digital transformation and become leaders in the world," Wang said in an exclusive interview with China Daily website before the fifth World Internet Conference, which was held Nov 7 to 9.

As of 2017, more than 50 percent of China's top 1,000 enterprises had regarded digital transformation as the strategic core of their companies, according to IDC, a global market consultancy focusing on technology.

Moving business to the cloud is the basic path for Chinese enterprises to achieve digitalization nowadays, Wang said earlier at a conference to mark the 30th anniversary of the company.

Shanghai-listed Yonyou reported business revenue of 4.55 billion yuan in the first three quarters of this year, up 38.8 percent year-on-year. Its cloud services generated revenue of 1.3 billion yuan in the same period, up 127.7 percent year-on-year.

"We did quite well in business growth in the third quarter, especially for our cloud service business, which continued to maintain a triple-digit increase. I believe our overall performance for this year should be good," Wang said.

As of the end of the reporting period, the number of registered corporate customers in its cloud service business was 4.46 million, of which 324,500 were cumulative paid enterprise customers, according to the company's quarterly report.

"We hope to be able to serve more than 10 million companies in the future and I believe it won't take too long to achieve the goal," Wang said.

As a leading software company in China, Yonyou has great advantages in the enterprise application service. "We have a professional track record, a big customer base, sales channels, talented staff with ability and experiences, and our brand," Wang said.

China's top leaders have said the country will unswervingly encourage, support and guide the development of the non-public sector and support private enterprises to develop toward a broader stage.

"The government has attached great importance to the development of the private economy, independent innovations, technological innovations and the digital transformation of the economy, which make the overall environment good for the development of our industry and the company itself," Wang said.

"The government has issued a series of policies and I believe there will be more following to make the environment more favorable."

The achievements China has made since the country introduced the reform and opening-up policy 40 years ago are beyond imagination.

"I feel so grateful to live in such an era and very fortunate to experience and participate in it," Wang said.

"The biggest achievement of Yonyou is to provide services to millions of corporations in these 30 years. For the future, I hope the company can become a leading enterprise cloud service provider in the world," Wang said.