Recently, CCID of the Ministry of Industry and Information Technology released the "2021 China SaaS Market Research Report", in which Baiwang.com was assessed as the "No. 1 in China's e-invoicing market share" for three consecutive years.

SaaS applications help government enterprises to upgrade their digitalization

CCID is directly under the China Electronics Information Industry Development Research Institute of the Ministry of Industry and Information Technology of the People's Republic of China, and is the first listed consulting company in China (stock code: HK02176). Focusing on the three major fields of new economy, new technology and new work, CCID has built 17 industry and regional research centers and is committed to becoming the world's leading think tank for regional development, the number one consultant for corporate strategy and the number one expert for industrial research.

CCID has been focusing on the electronic invoice market since 2018, and it regards the invoice business as an important part of enterprise SaaS services, studies the correlation between the electronicization of invoices and the digital upgrade of enterprises, and fully recognizes the role and impact of the electronicization of infrastructure on the digital economy.

The published "China SaaS Market Research Report 2021" provides a detailed analysis of several sections, including market size, industry structure, competition pattern, and future trends.

In terms of scale, the market size of SaaS in China continues to rise steadily from 2016 to 2020. With the deepening of digital transformation of government and enterprises, they have gradually increased the application of SaaS in order to achieve flexible, efficient and low-cost digital transformation. In addition, the impact on offline services to a certain extent during the epidemic prevention and control since 2020 has also made enterprises aware of the importance and urgency of taking their business online. This greatly accelerates the process of government enterprises to take their business online and transform digitally. The full penetration of SaaS cloud services such as cloud office, cloud communication and cloud contracting in government enterprises has driven the entire SaaS market size in China to continue to grow. 2020 China's SaaS market size reached 30.26 billion RMB.

From the industry structure, SaaS can help enterprises to realize business "on the cloud with the number" quickly and inexpensively, and the application areas are relatively wide. The digitalization of all aspects of industrial production and operation, retail e-commerce to speed up the construction of private domain traffic, and the Internet industry to pay more attention to user experience, these three areas have a large market space and are the largest areas of SaaS applications, accounting for 23.2%, 16.8%, and 16.7% of China's SaaS market share in 2020. During the epidemic prevention and control, cloud education and cloud healthcare gained explosive growth, and education and healthcare became the two fastest growing areas of application SaaS in 2020, with market shares further expanding to 7.0% and 4.9%, respectively. In addition, finance, construction and real estate, logistics and transportation, and energy sectors are also important areas for application SaaS in China, with shares of 8.3%, 5.8%, 3.7%, and 3.4%, respectively, in the Chinese SaaS market in 2020.

From the perspective of competition pattern, the domestic SaaS market has formed a market in which traditional software vendors, Internet giants, startups and foreign established IT vendors participate together. Yonyou Network and Kingdee are comprehensive software and information service providers, which have achieved obvious results in the transformation of their products and services to "cloud", and are leaders in the market with rich SaaS products and high market share and customer recognition of their core products. SAP, Salesforce and other foreign IT giants have a high degree of product specialization and occupy a place in the Chinese market.

In the vendor evaluation section, different companies have made different degrees of exploration and received high recognition from customers in promoting the integration of SaaS and enterprise digitalization. For example, based on its advantages in digital infrastructure construction such as "identity authentication, digital certificate, e-signature, e-stamp and OFD version", Baiwang.com launched a digital bill center blockchain innovation platform in 2020, with digital bills as the core. Empowered by blockchain technology, it builds a business data chain between departments and enterprises. It integrates the collection of bill information with business scenarios and processes, and provides support for enterprises to realize digital transformation, build digital asset platforms and improve ecological services. 

According to market research statistics, Baiwang.com has the first market share of electronic invoicing volume in China's SaaS market in 2020.

From the long-term development, CCID believes that the market scale of China SaaS will continue to expand in the next three years, and the market scale of China SaaS will reach 55.07 billion RMB in 2023. At the level of development trend, CCID points out that the integration of SaaS and AI, data security and other technologies will be strengthened in the future; SaaS vendors will accelerate the integration into the ecology established by cloud vendors; and the integration of SaaS with PaaS and IaaS will be further deepened.

Digital transformation is not only a necessary path for enterprise development, but in fact, it is also an important means for government regulators to improve the quality of governance.

As a SaaS service provider for industrial Internet, Baiwang.com takes electronic invoice as the entrance to help enterprises open up the closed loop of the whole process of transaction and effectively help enterprises reduce costs and increase efficiency.

With the change of enterprise demand and the upgrading of supervision by relevant departments, Baiwang.com is also continuously iterating its products, which can meet relatively complex management demands and also reserves multi-dimensional solutions from electronic invoices and electronic accounting files to supply chain collaboration and data value-added, helping enterprises to smoothly upgrade and enjoy the whole process services such as information security, transaction management and data intelligence of digital bills.