Source: Longtop Financial Technologies
Longtop Financial Technologies Limited ("Longtop") (NYSE: LFT), a leading software developer and solutions provider targeting the financial services industry in China, today announced that it has signed a contract with a leading property insurance company in China to develop a customized Supply Chain Management (SCM) system.
Developed on Longtop's proprietary IntelliFlow and IntelliWeb platforms, the system aims to streamline the insurance company's purchasing processes and improve the overall efficiency of its procurement department. In the first phase of the project, key functions covered by the system include procurement planning, supplier management, asset tracking, and procurement data management.
"We are excited about winning this contract and the strong momentum we have gained in this sector," commented Weizhou Lian, Chief Executive Officer of Longtop. "Moving forward, with the recent acquisition of Sysnet we are even better positioned to capitalize on the growth opportunities in this market as insurance companies increasingly invest in upgrading their IT infrastructure."