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Company Overview
VietSoftware International is a company headquartered in Hanoi, Vietnam. Established in June 19th 2006 as a subsidiary of VietSoftware Incorporated, VietSoftware International is one of leading software outsourcing companies in Vietnam. We have built our competence in terms of work quality, software development process, technical skills and a stable workforce. The company has customer's satisfaction in long-term partnership and collaboration as the key business drive.
History
VietSoftware International Incorporated (VSII) is a Joint-Stock Company established in 2006 under the Vietnamese Enterprise Law, operating as a software outsourcing service provider with offshore-dedicated centers for clients in the U.S, Japan and Europe. The company is a subsidiary of the VSI Corporation and therefore VSII also stands for VSI-International.
VSI started penetrating the international software outsourcing market in the year 2000, during the first six years through a separate software outsourcing division.
The reason for establishing VSII was to spin-off the international software outsourcing business into a separate entity, due to the significant difference of the business model from software services to the local Vietnamese market. The aim was to create favorable conditions for both VSI and VSII to better focus on and achieve excellence in their respective core businesses.
In 2002 VSII started the first project for IBM USA, the start of a successful long-term business relationship with IBM. The newly established company successfully scaled up from 19 developers in 2005, 100 developers in 2007 and 145 developers by October 2008.
Main Business Line
The company has followed its value-chain from common software services to higher end services and proprietary products which include both software and services. The current main business line of VSII is to provide Software Project Outsourcing Services (independently implement software projects) and to work as an Offshore Dedicated Center (ODC) for clients.
Typical tasks to be performed in Software Outsourcing Services are:
* Software development: proprietary product development; Internet bussiness application; Java/J2EE, Microsoft.Net and SharePoint, PHP, Flex-based, Embedded Software and Real-time OS programming and development services.
* Migration and maintenance: application and data migration service; porting of legacy applications to new technology platforms (SOA, Web based, distributed), migration of C/C++ code to embedded systems; maintenance of existing database and applications.
* Software testing service: full range of test services on variuos type of applications using advanced test methodologies and tools.
* Websie development and graphic design: wesite design and development; professional website content update and editing.
Current Market Conditions
The vision of VSII is to establish itself as a leading software outsourcing service provider, by maintaining highest quality standards, ensuring cost effectiveness, and pursuing collaborative partnerships. The philosophy of collaborative partnerships means that the customer relation is not driven by the words of the contractual agreement, but by responding to the needs of customers in a flexible way, which is the key success factor for the outsourcing business.
VSII intends to capitalize on the current trend of customers to:
* Use outsourcing as a means to reduce cost and focus on their core business;
* Diversify suppliers of software outsourcing services both in terms of providers and countries;
* Explore cost saving potential by shifting from increasingly expensive countries such as India and China to countries offering cheaper, yet still high quality services;
* Entering into long-term partnerships (collaborative model) with suppliers they can feel confident about.
VSII plans to continue expanding the cooperation with IBM, while at the same time diversifying the customer portfolio both in terms of companies and geographical location, with a focus on Japan, the U.S. and Europe as key markets. VSII is well positioned to capitalize on those trends, because of:
* Its excellent reputation (ranked by IBM’s clients as one of the top 5 world wide suppliers);
* State-of-the-art production processes in place, including a quality assurance system according to the highest standards;
* Its ability to attract and retain an excellent pool of specialists.
* Customer database including clients with a high potential of scaling up
Those are favorable conditions for growing to the critical size that allows VSII to bid for larger contracts, while at the same time maintaining quality of service and the collaborative approach.
Growth plan
VSII development plan includes essentially the following key elements:
* Increase number of programmers to 800 by 2010 in order to be able to handle larger orders for key customers. This requires new facilities both in Hanoi, HCM city and other locations within Vietnam, with focus on areas where qualified, yet still less expensive HR are available.
* Further develop and expand the long-term partnership with IBM.
* Diversify customer base with particular focus on scaling up revenues from existing and new customers in Japan, Europe and the United States).
* Establish presence in key markets (Japan and at later stage, Europe and the U.S).
* Obtain and maintain higher-level CMMI certifications and increase qualification of human resources, in order to be able to increase revenues per billable man hour.
* Continue capitalizing on the demand for IT-related non-voice BPO services to respond to the demand from developed countries.
* On a long-term, VSII intends to gradually move to higher value added services; such as higher end integration and finally to produce proprietary products and services, e.g. own software or managed services.
* VSII intends to prepare for an IPO, with a target date of beyond the year 2010.
VietSoftware International