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Hong Kong, 3 November 2005
-- A partnership comprising CPCNet, IBM China/Hong Kong Limited (IBM)
and Kingdee International has introduced an all-in-one answer to the
question of how Hong Kong and foreign enterprises entering Mainland
China can best streamline cross-border financial processes and business
operations. The joint business solution being provided by the three companies
includes the server platform, cross-border connectivity and a full suite of
financial management software compliant with both Hong Kong's and China's
regulatory and statutory reporting standards.
With Hong Kong's border with China becoming an increasingly open economic
frontier - thanks to China's World Trade Organisations membership and three
Closer Economic Partnership Agreements (CEPA) - investment by local companies
in new and expanded China operations continues to climb. Difference in the tax
and company regulations between the Hong Kong SAR and the PRC, however, often
raise operational difficulties.
"Differences in regulatory requirements mean Hong Kong enterprises often struggle
with reporting tax to the local government, calculating payroll and social welfare
for their PRC staff," said Toa Charm, Asia Pacific General Manager of Kingdee
International. "The cross-border dimension also complicates standard business
operations such as invoicing customers, managing bill of materials, carrying out
business data analysis and so on.
"We are therefore offering a joint solution that effectively integrates Hong Kong
and China operations in terms of information management and provides the formats
needed to comply with regulations on both sides of the border. Using this package,
Hong Kong companies can jump into their businesses in China right away without the
hassle of spending lots of time and effort in resolving the local requirement.
'Time-to-Market' for every cross-border Hong Kong company is very important in order
to gain market share and maximize revenue fast in this highly competitive China market."
Sharing business data in real-time between Hong Kong and China operation poses a challenge
to the communications infrastructure both in terms of security and reliability. CPCNet's
TrueCONNECTTMservice, however, contributes the performance, security
and route redundancy required to ensure reliable operations.
"There's something of a misapprehension in the market that achieving reliable and secure
communications with China operations is difficult and expensive," said Stephen Ho,
Chief Executive Officer of CPCNet. "The reality is that Internet technologies have
eliminated the need for expensive international leased lines, by providing secure connectivity
that is both more robust and a lot less expensive."
"Being a trusted communications and network solution provider, CPCNet leverages network
performance, security and guaranteed quality-of-service - conformant with the most advanced
Internet Protocol standards. This cross-border business solution puts enterprise-grade
information management capabilities into the hands of business across Greater China
and Asia Pacific.
Another important element in the cross-border IT equation is service and support but one of the great strength of the CPCNet-IBM-Kingdee partnership is that all three companies have a mature, cross-border operational model. More importantly, all three companies have strong support teams in both Hong Kong and major cities in China. Typically, Hong Kong companies start their businesses in a few cities in China and gradually expand to many other cities in China in a few years time. Nation-wide support is critical to cope with the business expansion of today's cross-border Hong Kong companies.
"The issues of cross-border business integration existed long before CEPA but the flood tide of smaller Hong Kong companies establishing China operations has made a solution more urgent," said Desmond Yuen, Executive, Systems and Technology Group Executive, IBM China/Hong Kong Limited. "Hong Kong enterprises are increasingly seeing China as their major source of growth. CEPA has helped many of them expand to capture China's demand. IBM is committed to delivering solutions that are tailored to the growth needs of local enterprises. Through this partnership, we will continue to devote our resources to support our clients with the full range of skills, expertise, applications and services required to help them grow their business."
"With more than 20 years of China experience, IBM joined together with CPCNet and Kingdee to bring the business solutions that enable Hong Kong SMEs to kick-start and sustain their China growth plans. It can also support Chinese enterprises moving in the opposite direction. More and more successful Chinese enterprises have chosen Hong Kong as their gateway to the global market. Either way, it's a win-win scenario for Hong Kong's economy."
The CPCNet-IBM-Kingdee solution bundle is built on a foundation of IBM eServer x206, a small tower form-factor server that is the entry level to IBM's highly-reliable Intel processor-based xSeries server family. x206 delivers affordability and superior functionality. Leveraging flexible configurations and availability on demand, x206 is ideal for distributed environments and growing business needs.
Also included is the General Ledger, Analysis & Reporting, Cash Flow, Payroll, Fixed Assets, Accounts Receivable, Accounts Payable and Cash Management modules from Kingdee's multilingual, multicurrency K/3 ERP software suite. The suite is based on a business performance management (BPM) core, and combines advanced management philosophies with local business practices. Further K/3 module sets are available to Sales and Distribution, Logistics, Human Resources, Production and Manufacturing, and more. All these modules are all well integrated.
CPCNet's TrueCONNECTTM is a - MPLS based IP-VPN (virtual private network) service that offers secure connection among multiple client nodes over their existing Internet (local ADSL) connections and CPCNet's MPLS Network at an affordable cost. Network security is supported through data encryption using the Internet Protocol Security (IPSec) protocol and CPCNet offer's comprehensive service level guarantees based on its sophisticated quality-of-service management capabilities.
The starting price for the IBM x206/Kingdee K/3 bundle is HK$68,888, which includes three user licenses, installation and implementation, user training and one year maintenance and technical support. CPCNet TrueCONNECTTM EXPRESS Network Connectivity service is being offered at special tariff of HK$2,500 per month per site - which includes 256kbps of connection bandwidth, a hardware router together with installation and support services.
About CPCNet Hong Kong
CPCNet Hong Kong Limited, a wholly owned subsidiary of CITIC Pacific (SEHK: 267), is a communications and network solution provider headquartered in Hong Kong. A preferred partner by multinational corporations (MNCs) and business enterprises requiring seamless connection to Greater China and Asia from different parts of the world, CPCNet is set apart for its breadth of knowledge in the China market.
CPCNet has been awarded the ISO 9001:2000 Certification issued by DNV under the United Kingdom Accreditation Service (UKAS). The certification further recognised the company's commitment to the implementation of quality management principles in its delivery of network solutions.
By owning and managing the state-of-the-art and fully meshed network, CPCNet offers
TrueCONNECTTM, an advanced MPLS-based IP VPN service, and a whole range of communications
products and services including GlobalCONNECT, global data services; AlwaysCONNECT,
high availability mission critical connection solutions and the Secure-In-One, multiple
function managed security service; along with an array of other IP-related applications and services.
For more information about CPCNet, please visit www.CPCNet.com.
About IBM
IBM, the world's largest information technology and business solutions company, is the global leader in innovative systems, services, consulting, research and financing that help organizations transform into On Demand Businesses. IBM opened for business in Hong Kong in April 1957.
For details, please visit www.ibm.com/hk.
About Kingdee International
Founded in 1993 and listed on the Hong Kong Main Board in 2005, Kingdee has grown
into a major enterprise software vendor in Greater China and has been progressively
expanding to Asia Pacific. Currently, Kingdee has more than 400,000 customers, 3,200 employees,
46 offices and 700 developers in Asia Pacific. Kingdee enterprise software suite includes ERP, CRM,
KM and BPM. Kingdee has already conformed to CMM4 and ISO9001 international standards.
The corporate vision of Kingdee is to become one of the top ten enterprise software providers
in the world by 2010.
For more information, please visit: www.kingdee.com.hk.
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Issued on behalf of Kingdee International Software
By Euan Barty Associates
For further information please contact:
Tom Ho (EBA): (852) 2537 8022
(email: tom@eba.com.hk)
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Media Contact:
CPCNet Hong Kong Limited
Mahlon Campbell
Tel: (852) 2170 7536
Email: mahlon.campbell@CPCNet.com
IBM
Sammie Lee
Tel: (852) 2825 0031
Email: sammieky@hk1.ibm.com
Kingdee
Whyment Lo
Tel: (852) 2155 3711
Email: whymentlo@kingdee.com.hk
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