Agility in operations and services is becoming the key to enterprise survival in the face of the COVID-19 pandemic.
On December 9-11, 2020, EqualOcean will host this year's World Innovators Meet (WIM). WIM2020 will take on a bolder stance and adopt a more global outlook by taking the form of an online conference that will be streamed simultaneously in all countries and regions that champion the realm of technology and innovation.
During the World Innovators Meet, the WIM Committee will release the annual blockbuster WIA list, the World Innovation Awards, based on our annual industry and investment research findings, together with a series of research reports.
In 2020, the development of enterprise service companies has tended to polarize.
In the early stages of COVID-19, due to travel restrictions, most people chose to work from home, which caused an increase in user figures for video conferencing, collaborative work and online recruitment. Under the impact of the epidemic, the operating crisis has prompted enterprises to speed up their online business layout as well as digital and intelligent transformation. The COVID-19 outbreak, as a catalyst for the enterprise services industry, has accelerated industry reshuffling.
Companies' rapid growth is driving the primary and secondary market's investment in the enterprise service industry. According to data from ITJUZI.COM, the number of financing events in the primary market of the global enterprise services industry reached 542 in the third quarter of 2020, a year-on-year increase of 32.2%. Salesforce (NYSE: CRM), for example, reached $284.5 per share at one point this year, with a total market value of more than $200 billion. Yonyou Network (SH:600588) and Kingdee International (HK: 00268), the leading companies in China's SaaS industry, also achieved new highs in market capitalization.
However, with the effective control of the epidemic in China and the resumption of all industries, the enterprise services industry's growth rate slowed down. It is undeniable that companies have deeply realized the importance of digital and intelligent transformation. Thus, the acceptance of companies improved to some extent.
The primary demand for enterprise services comes from the need for delicate operation. The Chinese economy is transforming into high-quality development, and the economic growth rate is slowing down. Mobile Internet flow is peaking, and it is difficult for enterprises to rely on the flow for long-term growth. In this situation, companies should reduce costs and increase efficiency through delicacy operation.
With science and technology development, cloud computing, big data, artificial intelligence, and other emerging technologies are becoming more mature. Based on emerging technologies, enterprise services help clients achieve cost reduction and efficiency increase and then complete refined management.
As of Sept. 30, 124 companies in the enterprise services industry had fallen prey to the dangers of 2020, according to ITJUZI.COM, mostly due to burning cash, insufficient financing capacity, industry competition, fragmented operations and late entry. As China's enterprise service industry's development is still in its early stage, companies' willingness to pay is still far lower than that of developed markets, making it difficult for companies in China's enterprise service industry to make profits in a short time. Excellent technical products or innovative business models will be the key to enterprise service start-ups' successful survival and development.
There is no doubt that China's enterprise service industry has substantial market prospects and will achieve rapid growth. Unlike the 2C market, the 2B attribute of the enterprise service industry makes it not rely on the existing users of the Internet giants but pay more attention to the in-depth understanding of different industries. Thus, there are chances for start-ups to become unicorns.
EqualOcean aims to identify the most promising start-ups in the enterprise service industry. At the WIM 2020, EqualOcean will release the 2020 Next 50 in Global Tech: Enterprise Services. We will study the development status and future trends of the global enterprise service industry. This award recognizes fifty innovative start-ups in the enterprise service industry. The evaluation criteria include: time of establishment, background of the management personnel, development prospect of the vertical sector, innovation of technology and/or business model, valuation, etc.
Hosted by EqualOcean, the World Innovators Meet (WIM) is a world-class event for innovators. It provides limitless opportunities to learn from and connect with the most sought-after technology pioneers.
The World Innovation Awards (WIA) are announced at WIM to recognize game-changers across various industries and geographies. Selected by a committee of distinguished experts, entrepreneurs and investors, WIA are designed to acknowledge technology disruptors striving to make a positive impact.
We sincerely welcome you to join WIM2020 on December 9-11, 2020.
Click here to register and you will receive:
[Global Trends] Key insights from 11 Industry and Overseas Chapters made available to you for all three days of WIM2020.
[Insightful Conversation] Connect with 120 top-notch global speakers, listen to their perspectives and interact with them online.
[Innovative Community] Join an exclusive network of 10,000 professionals to participate in discussions and gain first-hand information from fellow participants.
[Business Networking] Gain 1:1 business-connect opportunity to launch or speed up partnerships worldwide.
[Comprehensive Report] Exclusive in-depth research reports will be delivered right to your mailbox.
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Join the WIM2020 family and become a member of the World Innovation Community, participating in a technology and innovation carnival that connects the world right at your doorstep, all while drawing a special end to the extraordinary 2020!
If you would like to become/recommend a speaker, discuss cooperation opportunities or media partnerships, apply for the World Innovators Awards or to be a volunteer, please click here to fill in the WIM2020 Cooperation Form (we recommend you to do so on a computer). We will be in touch as soon as possible. Thank you and welcome!