With an entry into “Top 5 to Watch in China” category twice, this Chinese offshore IT-services company made it to the top of the list in this year. Neusoft’s IT-services business was set up as the Neusoft Group’s in-house support. Since then it has achieved great heights. In 2007, five new companies — especially American ones such as Fidelity and VMWare — chose Neusoft as their outsourcing provider. With a total of 50 customers, the company’s offshore revenues reached $150 million. The company hired 5,000 new employees during the year.

Alike big Indian IT firms such as Infosys, Neusoft also supports three IT universities in China.

“The company is focusing on various geographies, including the U.S.A., Europe and Japan,” says Walter Fang, VP and Chief Technology Officer, Neusoft Group. “To make sure that we remain the leader in the future as well, we are focusing on what we do best; expanding into other verticals; and expanding presence in North America, both through organic growth, partnership and M&A.”

Unlike Indian offshore-services providers, Neusoft’s 80 to 85 percent business comes from its domestic market. “This keeps the company’s revenue less affected by outside market conditions such as U.S. dollar depreciation,” says Walter.

The company provides application development and maintenance services, engineering services to different industries from telecom and hi-tech to banking and finance.