Current Market Conditions
The vision of VSII is to establish itself as a leading software outsourcing service provider by maintaining the highest quality standards, ensuring cost effectiveness, and pursuing truly collaborative partnerships. Our philosophy of collaborative partnerships is not driven by the words of contractual agreements, but by responding to the needs of our customers in a flexible way.
VSII intends to capitalize on the current trend of customers to:
- Use outsourcing to reduce costs and focus on their core business;
- Diversify suppliers of software outsourcing services both in terms of providers and countries;
- Explore the cost-saving potential of 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 trust.
VSII plans to continue expanding our business with IBM, while at the same time diversifying our customer portfolio in terms of companies and geographical location. We intend to focus on Japan, the U.S. and Europe as key markets. We are well positioned to capitalize on those trends, because of:
- Our excellent reputation (ranked by IBM’s clients);
- State-of-the-art production processes in place, including a quality assurance system designed to the highest standards;
- Our ability to attract and retain an excellent pool of specialists;
- A customer database that includes many clients with a high growth potential.
Our development plan includes the following key elements:
- Increase the number of programmers in order to handle larger orders for key customers. This requires new facilities in Hanoi, HCM City, and other locations in Vietnam, with a focus on areas where qualified, but less expensive human resources are available.
- Further develop and expand the long-term partnership with IBM.
- Diversify our customer base with a particular focus on increasing revenues from existing and new customers in Japan, Europe and the United States).
- Establish in-country 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.
- In the 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. our own software or managed services.