Analysis Of Problems Of Financial Electronic Product Enterprises

Financial electronic product industry is newly developed in recent years, which provides electronic products and relative service for the financial industry. At present, thousands of companies are engaged in the development, production, sales and service of financial electronic products. Research on the industry is relatively less because its market share is little and existing time is not long. In recent years, the financial industry has entered a new era and played a more and more important position and role in the rapid development of the world economy. At the same time, the industry has used electronic information technology since80th or90th years of last century. The prosperity of the financial industry promoted the rapid development of financial electronic products. Strong demand and rapid development is the catalyst of the market and the high speed engine of industry development.With the development of the financial industry, it took only20years to form a fully competitive market since financial electronic products and relative services enterprises appeared. The industry experienced the same developing processes as other industries although its developing time is not long. At the beginning the type of financial electronic products was very simple and there were only teller machines such as the money detector. While now there are different kinds of sophisticated modern electronic equipments, devices and systems serving in all finance processes, which have became an indispensable necessity in the finance industry. It can be foreseen that high-tech intelligent financial electronic products will play a more and more important role in the financial industry and will add strong power to the development of the financial industry. With the increasing demand for the corresponding electronic products of the financial industry, more and more enterprises find that there are enormous potential business opportunities. Except the enterprises serving for the financial system stated above, many other electronics production enterprises as well as funds have entered into the industry and promoted the rapid development of the industry because the requirements for getting into the industry is not high. The entry of those enterprises brings vigor and vitality for the industry. At the same time it also brings the irrational competition even vicious competition, and eventually introduces long-term adverse factors for the industry. What’s more, China is growing up as the world’s largest financial electronic product market, and the wide participation of foreign brands also increases the competition.In addition to the internal competition of the industry, the development and reformation of the financial industry has also contributed to the change of the market. The arising of new operation modes such as telephone banking, internet banking and mobile phone banking also indirectly impacts financial electronic product market. The United States created the world’s first Internet bank in1995. Since then, online bank has developed rapidly and its customer group has got expanded constantly because the online payment has the advantages of free charge as well as rapid operation. Online bank is only a representative of the electronic bank, and there are other similar operation modes such as telephone banking, mobile phone banking. Through this kind of electronic customers can transcend time and space constraints and can deal with all types of bank business freely without time and region limitation, which conforms to modern office requirements of fast pace. The advantage of electronic bank is more and more obvious. Paperless office and electronic currency are the developing trend of the modern financial industry, which will influence the business structure of the Bank branch on fixed positions and ATM cash handling equipments and will further produce certain impact on the whole financial electronic product market. At the same time, the change of financial institution business processes caused by the competition of the financial industry also deeply influences the developing direction of financial electronic product industry. The rising and booming of financial outsourcing make the future of financial electronic products uncertain. These enterprises that may be the old financial electronic product manufacturers will turn into outsourcing service ones. In such circumstances, financial electronic product enterprises must understand deeply and deal with these problems in order to survive and develop in the market competition. Otherwise, they will be eliminated by the market sooner or later. The paper aims at grasping the developing direction of the industry, understanding the problems in the developing process of the industry and enterprises, finding out the reasons, studying the corresponding strategies and developing trend of the problems, and discussing how to make the enterprises survive and develop in the fierce competition by adjusting through analyzing the formation and development process of the relatively narrow industry, the market, internal competition, the upstream and downstream enterprises. In the development and expansion of new products as well as the upgrading of the existing products, financial electronic product manufacturing enterprises should understand the market demand widely, guide the market demand, require the departments such as technology development, industrial design and marketing cooperate closely, study hard the product performance, quality, high intelligence and automation. Only in this way, the enterprises can produce products with excellent function, beautiful appearance, reasonable structure, superior quality, and stronger competition in the market for customers. In the internal management of the enterprise, the enterprise should in accordance with the high standards of modern enterprises, combine a variety of scientific management methods and experiences, allocate resources reasonably, and optimize the process of the products and services. The enterprise should build a reasonable, perfect product service platform, maximize the energy of enterprise agencies, make the product service and customer service get to perfection, create good product image and corporate image, and enhance competitive strength. At the same time, the enterprise should also standardize its product channels, including the product’s sales channels and the purchase channel, and integrate, optimize as well as use reasonably the channel resources of various products. Besides, according to the changes of the market and industry, the enterprise should adjust its business strategy instantly, plan the developing direction of the enterprise properly, make the financial electronic products and service at any time follow the various changes of the market and customer, and respond correctly, so that the enterprise has a strong ability to adapt and can survive and grow.