Duzon Digitalware Strengths, Domain Expertise, and Key Differentiators
Duzon is ERP vendor in Korea, delivering a suite of financial management, HR and procurement applications to public sector and general business accounts across the country. In February 2018, Co., Ltd. Duzon Bijeuon Asia, and the Middle East represents a significant international prominence expansion in the digital forensics market to Africa. Douzone Bizon plans to broaden its customer base at both ends, by targeting large companies with its new “D_ERP” solution, and small businesses with its new “WEHAGO” platform.
The firm is also looking to expand the revenue contribution from existing SME customers by inducing them to switch to the next-generation groupware “enterprise business portal (EBP) solution and cloud-based services. Douzone Bizon is expected to increasingly shift the focus of its business from software product (mainly package solutions) sales to cloud-based platform services.
Duzon Digitalware Recent Developments
Duzon launched the tax accounting office ERP WEHAGO T in June last year and launched the WEHAGO T edge service for business customers who entrusted the bookkeeping and reporting agent to the tax accounting office. WEHAGO T edge provides management information and bond analysis information, accounts receivable factoring, business communication chat room and messenger, evidential shooting/transmission, bankbook and payroll business communication, certificate issuance business communication, document storage, and all other functions of both parties. It is a solution that enables communication completely non-face-to-face.
In June 2018, Duzon launched new products such as D_ERP and WEHAGO, they will simultaneously expand the market and diversify the business model. They have successfully established new businesses based on existing businesses such as ERP, cloud, and groupware.
Duzon Bizon had several collaborations during 2018, for example, Duzon Bizon rebuilds the groupware and collaboration system of Yonsei University and create a more advanced smart work environment. The goal was to enhance the communication and collaboration system in the university and to improve user convenience and work efficiency. In particular, it was created a more efficient work environment through the cloud-based collaborative system and had more advanced smart work environment compared with most other domestic universities using groupware.
Also in November, Duzon Bizon started cooperation with Samsung Securities. Through this agreement, Duzon Bizon offered the best financial investment solution based on the expertise of Samsung Securities. Samsung Securities also expanded non-face-to-face financial services and corporate asset management services, which are currently active in the platform for companies of various industries and sizes to participate.
In September 2019, IBK Industrial Bank starts a collaboration with Duzon Bizonthe for mutual implementation of IBK 's financial expertise with WEHAGO (the above) platform to solve financial difficulties of SMEs and improve management efficiency. And decided to cooperate in the promotion.
Duzon Digitalware Customers in ARTW Customer Database
Leveraging a rigorous data-centric research methodology, APPS RUN THE WORLD asks the simple question: Who’s buying Duzon Digitalware applications and why? And we provide the answers – supported by decades of research – to our clients around the world. Our Customer database has over 100 data fields that detail company usage of Duzon Digitalware and other enterprise apps by function, customer size, industry, location, implementation status, partner involvement, Line of Business Key Stakeholders and IT decision makers contact details. List of Verified Duzon cloud, customers.
Duzon Digitalware Overview
Ownership: - 012510.KS
Number of Employees: 1000
Key Verticals: Aerospace and Defense, Automotive, Banking and Financial Services, Communication, Construction, Real Estate, Consumer Packaged Goods, Distribution, K12, Higher Education, Federal Government, State and Local Government, Public Safety, Healthcare, Life Insurance, P&C Insurance, Specialty Insurance, Leisure and Recreation, Hospitality, Life Sciences, Manufacturing, Media, Faith Based Nonprofit, Youth and Elderly Care Nonprofit, Special Cause Nonprofit, Oil and Gas, Professional Services, Retail, Transportation, Utilities,
Duzon Digitalware Key Cloud and HCM Applications
Duzon Digitalware HCM and Cloud HCM Applications Revenues, $M:
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* HCM Applications Revenues = License + Support & Maintenance + SaaS ( Hardware and Prof. Services are Excluded )
** All revenue figures are estimates based on public records, Cloud and Non-Cloud business models in Apps Run The World's vendor database, and annual survey results including vendor feedback.
Duzon Digitalware Revenue Breakdown by Type:
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Duzon Digitalware HCM Applications Revenues By Sub-Functional Markets, $M:
Split by Sub-Functional Markets
2019 HCM Revenues, By Sub-Functional Markets, $M
Duzon Digitalware HCM Applications Revenues By Verticals, $M:
Duzon Digitalware Total and HCM Applications Revenues by Region:
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Duzon Digitalware Direct vs Indirect sales
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Duzon Digitalware Customers - Breakdown by Geo, Size, Vertical and Product
No. of Duzon Digitalware Customers: 130000
No. of Duzon Digitalware HCM Applications Customers: 10000
No. of Duzon Digitalware Cloud HCM Customers: 10659
No. of Duzon Digitalware Cloud HCM Subscribers: 10659
Duzon has more than 130,000 ERP customers with the majority of them coming from small and midsized businesses. Approximately 111,000 companies out of 670,000 SMEs with 5~50 employees in Korea use Douzone’s light ERP product called “Smart A”. Approximately 19,000 out of the 46,000 companies with over 50 employees in Korea use Douzone’s standard or extended ERP products such as “iCube” and “ERP iU”.
The company has a sticky user base, because its products are standard platforms for the FAT (Financial Accounting Technician) / TAT (Tax Accounting Technician) / National ERP Information Management exams. Furthermore, approximately 90% of tax accounting offices in Korea use Douzone’s software, and most companies prefer to use the same products as their tax accountants.
Duzon Digitalware Market Opportunities, M&A and Geo Expansions
Compared to the previous year, sales increased by 18% and operating profit by 15.
In 2019, Douzone Bizon roll out D_ERP, an advanced next-generation ERP solution, targeting large companies. Douzone Bizon tries to embark on aggressive marketing campaigns to appeal to large companies by highlighting D_ERP’s sophisticated features and superior price competitiveness/optimization. The company initiated the D_ERP development project, as it had recognized inconveniences associated with foreign ERP solutions and potential replacement demand. The company plans to collaborate with large IT firms to ensure optimization.
While the majority of Duzon customers continue to run its client server systems, nearly half of its new customers have adopted Cloud delivery. At last count, the number of Duzon Cloud customers has exceeded 7,500 and more than 20 of its big enterprise applications customers have adoped private Cloud implementations from Duzon.
Duzon Digitalware Risks and Challenges
Migrating the bulk of its installed base to the Cloud could take years and it's incumbent upon Duzon, the overwhelming incumbent in the Korean ERP market, to accelerate the process before its lead is being erased by other Cloud startups. Douzone has been investing aggressively to launch a new cloud platform business, benchmarking the success of Salesforce’s cloud app platform.
Douzone’s proposed the platform will allow third-party developers to build various business applications using extensive financial data on its core ERP system as a data source, and it is currently working with third-party vendors such as Microsoft and Hancom. However, the company has not clearly defined the the revenue model for its platform business, so if the launch of this new business is delayed or fails, it can depress its profit margin.
Duzon Digitalware Ecosystem, Partners, Resellers and SI
Duzon primarily sells direct.
Duzon Digitalware Cloud Platform (PaaS) and Infrastructure (IaaS) Details
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Data used in research reports are derived from publicly available documents, continuous surveys of applications vendors, customers, resellers, Independent Software Vendors, systems integrators and other verifiable sources.
Vendor shares and market forecast results are based on a combination of existing databases as well as demand side and supply side research conducted throughout the year with validation from vendors, customers, channel partners and documentations such as earnings releases and 10Q and 10K filings, vertical industry studies, regional and country-level statistics from public and private institutions(i.e. colleges, universities, government agencies and trade associations).
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