The interview site of the Sierfu interview team is Shanghai, which is a fertile ground for cultivating many high-tech enterprises. The company interviewed by the Sierford team is Shanghai Yum Software Co., Ltd.
01
Introduction of Huang Fei, founder of Yum Software
Huang Fei, a native of Shanghai, graduated from ShanghaiTech University with a bachelor's degree in computer science in 1990 and an EMBA degree from China Europe Business School in 2016.
Mr. Huang Fei entered the Giant Group as a business director in China at that time, and was quickly promoted to the general manager of the Hangzhou Branch of the Giant Group, leading the team of the Hangzhou Branch to create impressive market performance and won the title of National Sales Champion of the Giant Group.
Based on his keen intuition and computer expertise in the information needs of the retail industry, Mr. Huang Fei founded Shanghai Yum Software Co., Ltd. in 2000, focusing on the field of information management in the retail industry, and leading Yum Software to become a leading retail enterprise omni-channel solution service provider in China. At present, Yum Software, together with its subsidiaries and Starlink service agencies, provides customers with timely service support. In the new retail era, Yum Software is committed to providing omni-channel digital and intelligent retail solutions for Chinese retail enterprises, helping customers achieve digital transformation and business innovation, achieve smart brands, and create extraordinary value.
In 2008, Mr. Huang Fei was named "China's Software Industry Leader"; in 2011, he originally proposed the concept of "Achieving Smart Brand", that is, using cutting-edge IT technology to help Chinese retail enterprises become "Smart Brands", which was also used as a new round of corporate strategy of Yum Software; in 2013, he was named "China's Fashion Industry Informatization Leader".
02
Demystify the essence of retail and face the challenges
What challenges do you think the retail industry faces today, and how can it be transformed and upgraded? This is the first question of the interview, as a company focused on technology empowerment, it is precious to discuss the future of retail from its own professional point of view. Mr. Huang Fei pondered for a moment and then gave his own opinion.
The challenges faced by retail companies are indeed so great that every sector is actively adjusting. For the retail industry, the first challenge comes from the consumer side, today's consumer market is changing rapidly, and consumer demand is changing too fast. For enterprises, it is crucial to understand consumer needs and complete consumption upgrading and transformation. Secondly, traditional retail is being impacted and challenged by emerging brands, and innovative formats will inevitably eliminate backward formats, such as the rise of Bubble Matt, which seems to indicate that a new consumer trend is taking shape, which changes consumer consumption behavior and subverts the original business model.
Not only the impact of emerging formats, but also the competition between traditional retail companies, many retail companies have common problems in how to grow rapidly and high-quality and how to improve the consumer experience, the world's market is constantly changing, enterprises must also work on the supply chain end, consumer end, operation end, in order to stand out in this "battle". Among them, the reform of the operating system is the first threshold, and crossing this threshold requires digital transformation.
Mr. Huang Fei said that without digital transformation, it is impossible to meet the needs of retail enterprises in such a competitive retail market, to achieve sustainable development. From the perspective of the transformation of the business model supporting it and the future market changes, the biggest challenge of enterprise operation management is digital transformation.
"I think this is an opportunity, how to do digital transformation, in fact, to some extent, there needs to be a professional team, someone needs to organize and promote, and this team needs to understand the trend of the future Internet platform." Mr. Huang Fei said.
In view of these situations, different enterprises have made different choices, some companies choose to do it themselves, such as Belle proposed to establish its own digital system, and most enterprises choose to find professional digital suppliers to work together to create a better future.
"All in all, I stand in the perspective of retail enterprises, the retail industry to adapt to the changes in the consumer side, changes in lifestyle, its retail products and service channels must adapt to this change, under the challenge, the system of retail enterprises needs to be transformed, behind the transformation of this system is digital transformation, digital transformation can support its sustainable development, and digital transformation needs to establish a team, find the right partner, and then promote the exploration of the enterprise middle office, followed by the data middle office, Innovate business models through data-driven change. Mr. Huang Fei concluded.
03
Under the epidemic, where is the future of retail?
Today's epidemic is still in the midst of ups and downs, and the "crisis" of retail enterprises has not yet passed, so it is "wise to quickly adapt to market dynamics and usher in new opportunities under the crisis." So, how can Yum Software help retail companies quickly adapt to market dynamics and build core competitiveness?
Mr. Huang Fei pointed out that today's epidemic is gradually in the normalization of prevention and control, the society is still to continue to develop forward, it can be said that the epidemic has actually accelerated the transformation of the entire retail market, at this time to seize the opportunity to achieve retail upgrading and transformation.
Under the epidemic, people's lifestyles have quietly changed, more and more consumption is turning online, and the epidemic has really promoted the onlineization of all retail businesses, which is actually a consumption habit, but it has been "cultivated" through the epidemic. Therefore, the epidemic must bring online business, online retail, online services, and online life.
Mr. Huang Fei then said: "No matter how good things are, what is the use of not selling them?" For the omni-channel transformation and online transformation of shopping, we obviously feel that not only domestic, the global trend has become more and more obvious, which has gradually become the mainstream. ”
Yum software can help retail enterprises achieve rapid growth in e-commerce performance and omni-channel global penetration.
Yum software meets the future incremental requirements of large, medium and small retail enterprises, supports tens of millions of orders per day, opens up online and offline global contacts, connects global scenarios, integrates global data, and creates an omni-channel operation system. Unified management of member information, integration and sharing of points, and improvement of member experience. Online and offline services are synchronized, and the services of various channels are standardized, so as to enhance the professionalism of brand services.
Moreover, Yum software enables enterprises to establish a unified scheduling control central system, control products and order data, pull in the distance with consumers, and provide better products to obtain higher profits and increments. Break the data islands between IT systems, precipitate business data, realize the horizontal splitting of the database, linear expansion, improve the carrying capacity of the database, build the group data platform, form the group's data assets, and improve business efficiency. And to create a private domain traffic pool, the external channel traffic into the management, for the later diversion of the foundation, support the front desk to carry out point-to-point precision marketing, tap the needs of potential customers, to achieve sales climbing.
As early as 2009, Yum Software began to explore the related solution of the middle office. "In 2009, we extended our business to e-commerce management software, and in 2014 and 15, Yum Software saw the trend of online and offline omni-channel integration of e-commerce, so we also began to lay out omni-channel retail at that time," Mr. Huang Fei revealed.
Today, for the retail industry, Yum Software has delivered hundreds of large-scale middle office projects. The iterative upgrading of middle-office products and the continuous improvement of project delivery capabilities will also be the strategic focus of Yum's software layout.
"In the future retail industry, digital transformation will enter the deep water area, the entire middle office market will also grow at a compound annual growth rate of 60%, retail companies can only seize market opportunities, achieve digital transformation and omni-channel change, in order to gain a firm foothold in the unpredictable market." Mr. Huang Fei said.
04
For 21 years, Yum has been growing
During the interview, Mr. Huang Fei shared the history of Yum Software and his entrepreneurial experience.
Yum Software has gone through 21 years of ups and downs, and it is not easy for a software company to continue to develop for more than 20 years, Mr. Huang Fei said with a smile.
"Yum Software is the leader of the software industry, we first started from the service footwear industry, from the past development to today, on a step by step, the software needs to be iteratively upgraded, in fact, the enterprise is the same, we need to constantly change, so as to adapt to the market, adapt to consumers." Compared with traditional industries, the changes in the retail industry are more obvious, because the changes in the retail industry are really too fast, so for Yum Software, this is both a challenge and an opportunity. Mr. Huang Fei said.
(Mr. Huang Fei's entrepreneurial period)
In the past 21 years, Yum Software has undergone three major phased changes.
The first stage is in 2000 -2008 this time, these nine years, Yum software has been focusing on the field of shoes and clothing, during this time, China's traditional clothing brands grew very fast, such as ANTA, Hongxing Erke and other enterprises, at this stage, Yum software is an ERP manufacturer in this field, established a national market system, which is a very important growth process of Yum software.
The second stage came to 2009, when Taobao e-commerce began to rise, which really promoted the pace of China's retail turn to online e-commerce, especially in the Fujian region, many brand footwear companies began to embrace e-commerce, and began to appear such as Taobao Shoe Network and other websites. Therefore, Yum Software has also undergone a rapid transformation and stepped into the e-commerce platform.
"We started to work in the field of e-commerce in 2009, and in five years we have seized the changes in the retail industry and promoted the development of e-commerce in China, and many retail brands have joined Taobao, so we have established a leadership position and empowered e-commerce customers." Mr. Huang Fei pointed out.
Then in 2016, when Ma Yun proposed the concept of new retail, Yum Software also saw changes in the market at this time, promoted the new retail strategy on a large scale, and established a partnership with Alibaba, which is the third important change that Yum Software has experienced.
"From our development history, I believe you can find that we have always been at the forefront of the industry, fully experienced every major change in China's retail industry, offline physical, e-commerce development, online and offline integration, new retail era of different stages, we have forward-looking for retail enterprises to provide digital solutions, and has been widely recognized." As Mr. Huang Fei spoke, his eyes were always full of confidence and hope.
05
How will Yum develop in the next three to five years?
In the future, with the development of the national economy, the retail industry will become a very large consumer market, at this time, the demand will increase, and the requirements for innovation will become higher and higher. In the next three to five years, Yum Software will focus on the consumer field, not only domestic, Yum Software to go international, support Chinese companies to go global, but also support foreign brands to come in.
"I hope that in three years, Yum Software's market share will grow to 30% and in five years it will reach more than 50%." Mr. Huang Fei said firmly.
Stepping out of the Yum headquarters, you can look up at the high-rise buildings that can be seen everywhere in Shanghai, so straight and tall, like a witness of this era. In the historical environment, Yum Software will definitely go abroad and go to the world.