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The just-passed year of 2021 was dubbed the inaugural year of the “metaverse”. During ** this year, some delegates raised issues or proposals regarding the development of the metaverse, suggesting that it is necessary to balance strengthened regulation with incentives for innovation in order to seize the opportunities brought by the metaverse. Currently, the metaverse, industrial metaverse, and corporate metaverse have become hot topics. At the same time, many experts and scholars have offered critical perspectives on the hype surrounding the metaverse, even questioning and discussing the very concept of a metaverse. Behind the craze around the metaverse lies the integrated development and application of various new technologies, which enable virtual spaces to expand rapidly and gradually merge with physical spaces. This represents a new stage in the informatization, digitalization, and intelligentization of enterprises as well as society as a whole. At this stage, corporate digital transformation strategies and plans must be systematically considered, planned, and implemented from an updated platform, a broader scope, and a higher dimension. From ERP to BIP: Digitalization drives business innovation. If we focus on the manufacturing sector, a brief review of the informatization and digitalization process in Chinese enterprises can be traced back to the 1960s. In the 1960s, the American Production and Inventory Control Society introduced the concept of MRP (Material Requirements Planning), which was later expanded to MRP II (Manufacturing Resource Planning). Relevant management software gradually came to be used in companies in the West as well as in Hong Kong, Taiwan, and other regions of China. In 1981, Shenyang No.1 Machine Tool Factory introduced an MRPII software package from the German Engineers Association; this can be regarded as a landmark event in the application of management software in Chinese enterprises and in the informatization process of these companies. Starting from the late 1980s, companies such as UFIDA, Kingdee, Pioneer, and Anyi began by developing financial software, while firms like Limax, Kaisi, and Qiming started with MRPⅡ. Domestic brands of management software emerged one after another, and international software companies such as SAP, Oracle, SSA, and others also entered the Chinese market, thus bringing about an era of fierce competition in China’s management software sector. Coupled with the promotion of the CIMS (Computer Integrated Manufacturing System) initiative under China’s “863” Program in the field of automation technology, the informatization of Chinese enterprises advanced rapidly. In 1990, as applications became more sophisticated and management requirements expanded, the internationally renowned IT research firm Gartner introduced and promoted the concept of ERP (Enterprise Resource Planning). Leading financial software companies such as UFIDA and Kingdee launched their own ERP systems in the mid-1990s. At the same time, systems for office automation (OA), human resources (HR), customer relationship management (CRM), and inventory management have also been increasingly widely used, marking an entry into a phase of integrated and coordinated development in terms of information technology utilization among Chinese enterprises. With the development and application of big data, artificial intelligence, cloud computing, mobile computing, and the Internet of Things, the digital transformation and upgrading of enterprises have progressed further. Information and digital systems have become the neural networks and operational platforms for enterprises, serving as the fundamental foundation for their development ecosystem. From MRP, MRPⅡ to ERP, each change in concept represents not only an innovation in management philosophy and an expansion of the scope of management, but also technological upgrades and improvements in technical platforms. Looking back at the journey of enterprise informatization and digitalization over the past few decades, while significant achievements have been made, there have also been numerous problems and obstacles, primarily in the following areas: Information systems from different periods and modules struggle to share data and communicate with each other, resulting in \"information silos\" and isolated systems; the implementation of such systems takes a long time, and the costs associated with maintenance and upgrading are high; these systems lack flexibility and agility, making it difficult to meet the needs of enterprises for continuous innovation and development... It was against this backdrop that Gartner introduced the concept of EBC (Enterprise Business Capability) in 2019. EBC is a management system that relies on big data, the Internet of Things, and artificial intelligence technologies to integrate business functions with technical capabilities, focusing on the customer perspective in order to meet their needs and enhance their experience. This means that we are moving away from the ERP era that has lasted for over 30 years and entering a new era. However, this time, EBC did not, like ERP back then, quickly rise to the forefront and become the focus of attention as soon as it was introduced. Although EBC has also gained fairly widespread recognition in the industry through research and dissemination, it remains mostly at the conceptual level; few companies go to great lengths to announce the introduction of an EBC system, as they did when promoting ERP systems back then. In terms of market promotion, companies such as Inspur are pushing for the use of \"cloud ERP\". From Kingdee’s relevant articles and materials, it is evident that the company accepts and endorses the EBC concept. However, in its marketing efforts, Kingdee focuses on management efficiency and advocates for \"rebuilding digital combat capabilities\"... There are probably three main reasons for this: First, from MRP to ERP, each time a new concept was introduced, although it related to management aspects, it was ultimately the result of technological advancements. As a result, people have developed a sense of \"aesthetic fatigue\" and are reluctant to adopt these constantly emerging concepts as their guiding principles. Second, the interactive development and integration of technology and management have propelled digital transformation into a new phase of systematic application, with customer value being the key aspect that should be emphasized. Thirdly, the unique development environment, stage, and path of Chinese enterprises have given domestic software manufacturers, which have been operating in the market for decades, a deep understanding of these aspects. Coupled with the fact that Chinese enterprises have a wide range of application scenarios, many of their business models and applications feature unique innovations that are ahead of those in other countries, this enables these domestic software manufacturers, who previously had to follow others in terms of concepts and ideas, to develop their own approaches and pursue independent innovation. As a result, they have the confidence to keep pace with or even lead global competitors in this industry. It was against this backdrop that, in 2020, UFIDA introduced the concept of the \"Business Innovation Platform (BIP)\", and together with IDC it published a white paper on this platform. This marked the first time that a Chinese company took the lead in defining a new era for IT development and application on a global scale, pioneering new concepts and creating new platforms for the upgrading of management software. According to the definition in the BIP white paper, a Business Innovation Platform (BIP) is a comprehensive service platform that relies on digital technology platforms and utilizes next-generation digital and intelligent technologies to support businesses in terms of their business processes, user experience, products and services, business models, work resources, as well as innovation in management. It enables sustainable development and growth for businesses and their operations. As a comprehensive platform whose ultimate goal is to support corporate business innovation, BIP removes obstacles to such innovation by addressing aspects such as technology, processes, business operations, applications, and management, thereby breaking through barriers to innovation. It overcomes the limitations associated with traditional corporate innovation in terms of personnel, technology, industry knowledge, costs associated with trial and error, management, and trust, serving as a key tool for achieving large-scale innovation in the era of the digital economy. YonBIP (Yonyou Business Innovation Platform) is a platform-based, ecosystem-oriented cloud service developed by Yonyou based on the BIP concept and utilizing next-generation information technologies. It follows an architecture design that features cloud-native principles (including microservices), metadata-driven approaches, modularization, and separation of data processing from application logic. It encompasses various services such as platform services, application services, business services, and data services, integrating tools, capabilities, and resource services to support business and industrial innovation. YonBIP possesses eight key features: digitalization, intelligence, high flexibility, security and reliability, platform-based architecture, ecosystem development, globalization, and social integration. It is an intelligent platform that enables enterprises to achieve commercial innovation through digital transformation. Whether it is the development of \"specialized, innovative, and high-quality\" enterprises or the creation of \"world-class enterprises\", both rely on high-quality development driven by innovation as well as the support of digital platforms. To gain a better understanding of the research, development, implementation status, and future prospects of BIP, the author recently had discussions with industry experts and relevant officials from UFIDA’s high-end business group. The Trinity approach helps large enterprises achieve digital transformation. Nowadays, digital transformation has become an inevitable choice for the high-quality development of industries, as well as for enterprises to transform and upgrade themselves in order to enhance their core competitiveness; data and intelligence are gradually becoming important factors in production. At the same time, the convergence of the three trends of digitalization, localization, and globalization presents a rare historical opportunity for the local service industry. Wang Yong, President of UFIDA Network’s High-End Business Group, pointed out that digital transformation is not a simple extension of informationization; rather, it brings about changes in three aspects: First, an upgrade of the platform architecture. From application architecture, business architecture, technical architecture to data architecture, it represents a comprehensive, technology-driven upgrade of the platform architecture. It involves various areas such as cloud native, microservices, artificial intelligence, big data, blockchain, and the Internet of Things; it represents a restructuring of the enterprise service industry ecosystem through new technologies and architectures. Second, the digital transformation of enterprises. By integrating new technologies with industry and corporate operations, it helps drive business innovation in enterprises. Digital transformation brings about comprehensive improvements in business operations and a shift in business models, resulting in stronger competitive advantages and more sustainable development. Third, scenario-based services. All business operations of enterprises are being made intelligent and real-time, leading to disruptive breakthroughs in many specific areas. From functional modules to scenario-based services, new digital and intelligent technologies enable real-time operation of business systems and facilitate the integration of business processes with management functions. All software becomes loosely coupled scenario-based services, and scenario-based approaches along with the associated role-based elements will significantly enhance the user experience. The new generation of digital technologies is driving a new wave of business innovation; to embrace this trend, companies need to innovate and reshape their operations and management. UFIDA believes that the capabilities and platforms for a new digital transformation should consist of a combination of process services, data services, and intelligent services. In the previous software era, it was more about process services, driven by processes. What businesses need now are process services combined with data services, shifting from process-driven to data-driven approaches. As cloud computing and artificial intelligence advance, IoT data, production execution data, and transaction data can be aggregated in real time, and data services will completely transform traditional application models. When building cloud service application architectures, UFIDA BIP is no longer designed for individual enterprises; rather, it starts from the business networks and relationships between enterprises, adopting a networked, societal approach that transcends the enterprise-level boundaries of the ERP era. Through its experience in serving over 25,000 large enterprises, UFIDA has identified the key approaches to the digital transformation of such companies: 1. Start with top-level design and let strategy guide the process – business innovation involves comprehensive changes across all aspects of a company’s operations; it cannot be achieved through mere partial optimizations. 2. Focus fully on business priorities. 3. Emphasize the development of a solid data foundation and explore new opportunities: Large enterprises need to establish a comprehensive data governance framework, and they must pay attention to the way intelligence can enhance the value of data. 4. Focus on business innovation scenarios and advance step by step: It is necessary to focus on exploring and organizing existing business scenarios ； On the other hand, digitalization will give rise to new application scenarios, bringing new growth opportunities for enterprises. 5. Achieve extensive connections and integration within and outside the organization: link resources, technologies, talent, and customers, as well as social information, so that business innovation is not hindered by barriers in terms of technology, resources, or talent. The key to the digital transformation of large enterprises: The underlying principle behind such transformation is the restructuring and innovation of business processes and management practices. Its core lies in leveraging data intelligence tools and platforms to harness the value of data, thereby enhancing a company’s business operations and management efficiency. Taking into account the characteristics of large enterprises such as heavy assets, large workforce, strong industrial chains, and diversified business operations, Zhang Yang, General Manager of the Digital Transformation Consulting and Strategic Planning Department of UFIDA Network’s High-End BG, categorized the problems faced by large enterprises into core business-related issues and extended issues. In terms of core business, capital-intensive companies, during periods of rapid economic growth, are busy competing for market share and customers, and do not pay as much attention to their internal strengths as they do to the market. Entering the stage of high-quality development, companies begin to focus on reducing costs and increasing efficiency. Making timely decisions becomes extremely important, as heavy-asset enterprises are often such that a small change can have a significant impact on the whole operation, and once the right timing is missed, it’s difficult to reverse the situation. Currently, there are three major trends in the outward expansion of large enterprises: First, a shift toward the consumer market. Many B2B companies are shifting toward a B2C approach; for example, traditional manufacturing firms and real estate companies collect data from end consumers for operational purposes, thereby adopting a C2B model and placing greater emphasis on the customer experience. Second, capital-intensive companies are beginning to shift toward asset-light businesses. Capital-intensive enterprises often have high requirements for asset efficiency. For example, in the evaluation index system for large state-owned enterprises established by the State-owned Assets Supervision and Administration Commission, there are strict requirements regarding the return on investment of assets. At the same time, a trend can be observed: capital-intensive enterprises are beginning to leverage the industry experience and expertise accumulated through their traditional businesses to provide comprehensive support to their partners in the same industry. By increasing the proportion of low-capital operations, they are also fostering a platform-based development model that enables industry interconnection, thereby rapidly expanding their business scope. Third, transition to industrial technology business. Many large enterprises are building digital organizations; by leveraging the industry-specific technical solutions they have developed, as well as forming strategic partnerships with professional technology service providers, they not only provide excellent services to themselves but also extend their technologies and capabilities to expand the market for industry technology services. The three extensions of these large enterprises have a strong driving effect on society as a whole. These businesses that emerge from the parent organization can, as they grow, accommodate the surrounding ecosystem, drive local enterprises, and even create a social impact. As a service provider, it is essential to understand and grasp these trends in order to better meet the specific needs of large enterprises in their digital transformation processes. Zhang Yang believes that over the past few decades, the essence of a company’s value has not changed, but the methods and approaches used to drive value growth have changed. The digital transformation of large enterprises requires guidance from use cases, data, and platforms; it involves not only a shift in business management approaches but also an upgrade in working methods and technical tools. Currently, there are three key aspects to the digital transformation of large enterprises: First, real-time data-driven decision-making. If there are still breakpoints and black boxes in business operations, companies cannot obtain data in real time, and thus cannot make decisions based on real-time data. Therefore, enterprises need end-to-end business solutions to achieve a closed management loop and real-time online functionality. Second, real-time operational performance and decision-making. In a rapidly changing market environment, corporate decision-making often needs to be carried out at the frontline, where decisions can be made in real time based on the conditions surrounding changes, allowing for quick responses. To assess the effectiveness of corporate decisions, reliance is no longer placed on traditional financial statement analysis; instead, it depends on whether real-time decisions can empower frontline managers. Third, industrial chain collaboration. Coordination is needed among upstream and downstream entities of core enterprises, as well as in industrial interconnection in relatively fragmented scenarios. Many large enterprises, especially those owned by the state, are not only the leaders of their respective industrial chains but also bear responsibilities for the entire industrial ecosystem. Companies need to consider mergers and reorganizations, as well as the expansion and upgrading required for the development of future industries; therefore, digital platforms must be sufficiently open and advanced in order to meet the needs of future industrial ecosystems. The Chinese power behind the digital transformation of large enterprises: UFIDA was founded in 1988. Over the past 34 years, it has evolved from being \"China’s leading financial software provider\" to \"Asia-Pacific’s top ERP software provider\", and then to \"a global leader in software and cloud services\" – advancing through each stage driven by innovation. YonBIP embodies the expertise that UFIDA has developed over many years in the industry. Since its introduction in 2020, it has continued to evolve, and today, based on a unified cloud-native PaaS platform, it enables the private deployment of public cloud services, thus meeting the digital transformation needs of large enterprises more effectively. In the context of the new era, UFIDA will elevate its cloud services from a product-service model to a platform-service model, striving to create a business innovation platform that serves as a key enabler for companies to move to the cloud, undertake digital transformation, and achieve large-scale business innovation. The introduction of the BIP concept and platform not only represents a transformation for Yonyou, but also marks a breakthrough and advancement for Chinese software companies. It enables them to provide enterprise-level cloud services across the entire \"life cycle\" of businesses, thus supporting their business innovation in every aspect. “Today, we can say with pride that ‘over half of the top 500 Chinese enterprises choose Yonyou’; more than 65% of central state-owned enterprises opt for Yonyou as their digital partner, and this is still a conservative estimate. ”Wang Yong said that UFIDA offers process services, data services, and intelligent services to large enterprises in areas such as digital marketing, smart procurement, intelligent manufacturing, agile supply chains, intelligent finance, smart taxation, digital human resources (DHR), and digital intelligence platforms. Large corporate clients typically have longer delivery cycles, higher requirements for the qualifications of their staff, and relatively higher investment costs. Today, UFIDA also has every confidence, foundation, and capability to continue supporting the digital transformation and business innovation of large enterprises. At the same time, as the leading member of the ERP and financial software working group under the Information Technology Innovation Committee, UFIDA promotes adaptation to domestic information technology innovation technologies as well as mutual certification for compatibility on the widest possible scale, and offers enterprises services for upgrading and replacing systems using digitalization and information technology innovation solutions. According to Gartner’s research, UFIDA has made it into the top 10 global enterprise application software providers, being the only company from the Asia-Pacific region on that list. Research reports released by IDC and CCID Consulting show that UFIDA continues to lead the Chinese enterprise cloud services market, holding the top positions in both the China application platform-based cloud services APaaS market and the enterprise application SaaS market. Wang Yong noted that as we enter the 3.0 era of strategic development, driven by confidence in broader trends as well as the environment, company teams and customers, technology and products, and market developments, we will continue to build and operate a globally leading business innovation platform. Over the next three years, UFIDA’s strategic goal is to “become one of the top three enterprise cloud service providers in the world,” with specific objectives of “working together with 100,000 ecosystem partners, bringing together hundreds of millions of community members, and helping tens of millions of enterprises achieve digital transformation.” Wang Yong said that in the context of the digital transformation trend, one of UFIDA’s missions is to assist China’s leading enterprises in carrying out digital transformation swiftly, while also promoting the substitution of imported technologies with domestic alternatives, thereby supporting the high-quality development of these enterprises and helping to create more world-class companies. At the same time, by providing services for the digital transformation of large enterprises and building on the achievements of these giants, UFIDA is bound to become a world-class company as well.