Longtop signs contract with Chinese property insurance firm

Longtop Financial Technologies, a developer and solutions provider targeting the financial services industry in China, has signed a contract with a property insurance company in China to develop a customized supply chain management 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, Longtop said.

In the first phase of the project, key functions covered by the system include procurement planning, supplier management, asset tracking, and procurement data management, according to Longtop.

Weizhou Lian, CEO of Longtop, said: "We are excited about winning this contract and the strong momentum we have gained in this sector. 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."