On August 19, 2023, Yonyou Network Technology unveiled the White Paper on Globalization of Digital Operations for Chinese Enterprises at the forum entitled ‘Chinese Enterprises Going Global’ in Shanghai National Exhibition and Convention Center, aiming to support Chinese enterprises in global expansion and digital transformation.
Holistic Development: New Patterns, New Challenges, Accelerated Globalization
In response to the evolving global dynamics and challenges, an increasing number of Chinese companies are embracing digital economic opportunities to facilitate international growth. Dr. Bowen Guo, General Manager of Yonyou Overseas Business Unit, introduced the global 2.0 strategy during the Chinese Enterprise Globalization Forum.
The White Paper delves into the evolving landscape and challenges faced by Chinese enterprises global operations under the Belt and Road initiative and dual circulation policies. It outlines four global operational models: export, overseas marketing, overseas operations, and global integration.
Digital Intelligence Foundation: Solutions for Chinese Enterprise Global Operations
Then, Mr. Liu Meixiang, General Manager of Yonyou North America, further introduced the Yonyou BIP globalization solution released in the White Paper. Yonyou BIP is a new-generation digital intelligence product developed after seven years of research and development. It supports various capabilities such as multi-language, multi-time zone, multi-format, multi-currency, multi-standard, and localized access. Yonyou BIP also enables regional and localized applications based on customers’ business scenarios, with the scope of applications expanding through the globalized data model.
Mr. Liu also highlighted the topic of global compliance and data security and privacy protection, introducing the business scenarios and solutions for Chinese enterprises going overseas under the GDPR, including finance, tax, HR, recruitment, procurement and OA, and proposing targeted development strategies for planning and building enterprises’ global competitiveness.
World-Class: Case Studies of Chinese Enterprise Global Operations
The White Paper features compelling case studies showcasing the success of Chinese enterprises’ global operations. Notably, China Mobile International collaborated with Yonyou to establish an integrated global HR platform, effectively managing staff performance across 35 countries and integrating 25 sub-processes. Yonyou’s support enabled Wolong Electric Group’s digital procurement platform, leading to a cost reduction of over 10%. Additionally, Yonyou’s efforts transformed Walsin Lihwa into a digital intelligent factory spanning Taiwan and Mainland China.
Founded in 2003 in Hong Kong, Yonyou’s Overseas Business Unit boasts 20 years of expertise. Yonyou has provided best practices for thousands of mid-size and large enterprises, spanning finance, retail, real estate, construction, and trading. Yonyou continues to drive cross-border management and business innovation for enterprises.
From Asia-Pacific to Global: Yonyou Embarks on the Era of Globalization 2.0
The White Paper release marks a new phase for Yonyou Overseas in Globalization 2.0 era. Dr. Bowen Guo highlighted this year’s initiatives of entering Europe, North America, Japan, and the Middle East, covering over a hundred countries in three years. This strategy aligns with the White Paper’s concepts, supporting Chinese enterprises digital transformation for global expansion.
Co-Creation and Mutual Benefit: A New Ecosystem for Global Expansion
Amidst globalization, how Chinese enterprises achieve global operations through digital transformation is vital. The White Paper serves as a comprehensive guide, offering strategies, solutions, and best practices to guide Chinese companies in their global digital transformation journey.