First, the integration of industry and finance in the era of information technology
All along, the integration of industry and finance has been the focus of digital construction. Industry financial integration is mainly through the core application system ERP system to realize from the company's strategy to the enterprise control landing
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As information technology emphasizes more on management and monitoring, the ERP system is also biased towards finance as the core, which leads to the integration of business and finance projects often do not pay attention to the empowerment of the business.
At the same time, because the final output of ERP is mainly financial data, the construction of business financial integration is easily turned into a project supported and led by the financial sector. In the age of information technology, the consumer market changes relatively slowly, traditional enterprises generally use large groups to work together, each department according to the process of sequential operation.
Therefore, the integrated system of business and finance emphasizes the stability of the process and the accuracy of the data.
Because the internal enterprise is far from the market, the business department generally lacks the awareness of business analysis. Coupled with the fact that ERP systems are not good at empowering business, this ultimately leads to most of the business finance integration only realizes the financial accounting, less involved in the function of business analysis.
For example, one of the most important aspects of business analysis is the apportionment of costs. From the principle of apportionment, costs need to be split proportionally according to the beneficiary and the degree of benefit.
For example, the cost of a promotion, because it is used to support the sales of products A and B, then the cost should be shared by products A and B in accordance with a certain percentage. At the same time, in order to support the analysis of the costs of the sales teams belonging to products A and B, the costs also need to be apportioned to the sales teams corresponding to the products. But in practice, due to the business sector is not willing to do such an apportionment, or due to the limitations of the ERP system, often do not realize the automatic collection of similar costs and apportionment of functions, only by the financial staff to enter the financial vouchers to meet the requirements of financial accounting.
In the era of information technology and mass production, the system is built using the project system. Once the system is online, it enters the operation and maintenance phase, and the project construction team is disbanded on the spot or transferred to a new project. This also leads to a certain extent to the business financial integration project can not self-evolution, always stay in the financial accounting level.
Second, the digital era of business financial integration
And in the digital era, facing the oversupply of the market environment, the formation of a new way of thinking to the core of consumer demand, all business-oriented, the new technology to bring about changes:
> consumer experience-oriented;
> digital marketing to meet customer demand-oriented;; and the new technologies.
>Oriented to pull manufacturing by consumption side;
>Finance BP empowered store operation management;
>Business and finance settlement integration of consumption rebate;
>Revenue settlement integration of revenue ****enjoyment;
>Seasonal marketing of price-for-volume business;
& gt;Marketing plan breakdown from group strategy to stores
>POS to banking system settlement integration;
>Merchandise replenishment to forecasting;
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Business Characteristics of the Digital Era
In the digital era, the Internet accelerates the information dissemination, greatly shortening the life cycle of new products while allowing consumers to learn about them quickly.
In order to cope with the fast-changing market, companies have to accelerate the development, production, and sales of new products, and also increasingly emphasize frontline mobility and empowerment of the business.
For example, in the past, the entire company produced a new product a year, and the analysis of product profitability could last for months, and the related data collection and analysis could be handled slowly. Now, if each department is required to produce a new product every quarter, it is necessary to provide the business department with the ability to analyze the profitability of the product quickly and easily.
This objectively requires the integration of business and finance can not only stay in the level of financial accounting, need to stand more in the level of business analysis, for the empowerment of the business sector. At the same time, because the market is changing rapidly, the needs of the business sector are constantly adjusted and optimized. Therefore, the integrated system of business and finance must be iterated in the form of a product that continuously responds to the changing needs of the business sector.
The characteristics of business-finance integration in the digital era are as follows:
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The past ERP system emphasized one system to meet all the needs from business to finance, and this kind of big-package approach requires too much of the system, and often ends up in a compromise that barely achieves the support of business.
Therefore, the digital business financial integration system must be loosely coupled, composed of multiple independent business systems and financial systems, which can greatly reduce the pressure of a single system. But this brings a new problem, that is, the difficulty of system integration has increased dramatically. At the same time, the business system leaves the rigid constraints of the financial system, but also led to a substantial increase in the error rate of business data, the solution is to build a financial data center system (later referred to as the financial center). Undertake the financial rules to provide, data processing, data storage and data analysis functions.
Because it is no longer subject to the rigid constraints of financial rules, and do not have to deal with too much data, so the business system can be maximized flexibility to quickly meet the changing needs of the business.
And since the financial middle office checks, converts and integrates data from all business systems, the financial accounting system and business analysis system will get unified and accurate data, speeding up the speed of financial accounting and analysis. Carry out automatic matching of bookkeeping rules, derived cost center / profit center / and other multi-dimensional accounting caliber;
In accordance with the idea of IT architecture, with the "Basic Guidelines for Management Accounting" as a guide, business as the basis for a comprehensive budget as a link, the funds as a grip, information technology as a tool to build the aviation manufacturing enterprise business synergy, application integration, data **** enjoyment, operational security, flexibility and openness of the industry and finance Integration platform, change the traditional way of work of accounting personnel in manufacturing enterprises, and enhance the ability of accounting personnel to create value. Industry financial integration platform will be financial management into business activities, business activities in real time to reflect the value of the flow of value flow automatically generated vouchers, information generated by the collection of a place, more than one place to use; the realization of the closed-loop management of the budget to the accounting, service and control in parallel; business data transparency and visibility, the integration of the control of the business;
Promote the financial * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * to enhance management efficiency. After the implementation of integrated management of business and finance, financial personnel can understand the business activities of enterprises in real time, see the business and data, let the data "speak", participate in the formulation of corporate rules; managers can perceive the operational situation of enterprises, the implementation of a comprehensive monitoring, timely detection of operational problems and bottlenecks, and resource allocation; front-line employees can know the cost of their work and the cost of creating value for the enterprise, and take the initiative to take measures to improve their work methods, to achieve the goal of "improving the quality of work", and to improve the efficiency of the management of enterprises. Take measures to improve the working method, to maximize the interests of the enterprise and personal benefits. The process can be quickly replicated and quickly responded to.
"Organizational integration" is the basis for business integration. To achieve true integration of business and finance, it is necessary to do a good job of organizational design and develop a reasonable performance evaluation and management mechanism. It is a common approach to set up a specialized finance BP in the finance department. The responsibility of the finance BP is to penetrate into the business department, integrate into the business process, provide financial management services, and carry out all-round management of the whole process, elements and scope of the business. The whole process means that the finance BP participates in the whole process of business operation; the whole element means that from the perspective of financial elements/indicators, it scrutinizes and evaluates the good and bad of business development, gives development suggestions, and improves the ability of resource input and output; the whole scope means that the finance BP manages the business from the perspective of the company as a whole, and pays attention to the overall efficiency of the enterprise.
"Cognitive integration" is the expected result of organizational integration and the basis for subsequent process integration. Cognitive integration is easily overlooked. Financial personnel need to go deep into the business, familiar with the business process, understand the business requirements, insight into the characteristics of the business, in order to further optimize the business process and better serve the business sector, this process is the cognitive fusion of the financial staff of the process of business knowledge. Similarly, the business sector also needs to learn some basic financial management knowledge, in order to better cooperate with the financial staff, in the business process over the output of the necessary information to the financial staff. Without cognitive integration, it will be manifested as a mutual lack of understanding between positions, and easy to appear between the staff face and heart of incompatibility or even direct contradiction. Enterprises can promote cognitive integration by strengthening training. But what is really difficult is the identification, tolerance and close collaboration between business and financial personnel, which is also the common problem of all cross-sectoral collaboration.
"Integration of processes" is the process of continuously optimizing the rationalization of the division of labor and flow between business roles and business matters and financial roles and financial matters. The essence of the process is the dismantling of the division of responsibilities of the business process. The reasons for process changes include changes in business management needs, changes in the external environment, changes in internal organization, and changes in the information technology foundation. Business and finance both sides based on **** the same knowledge, constantly adjust the reasonable division of labor, so that each role can comfortably perform their respective duties, is the process of process integration and evolution. At the same time, the integration of the process is also the basis for the integration of information, there is no process integration, can not talk about the integration of information, the process between the links is essentially in the transmission of information.
"Information fusion" (or data fusion) refers to the process of fusion of business information and financial information. The business department needs to provide the finance department with the necessary information for accounting and statistical analysis. The finance department needs to further process the collected information to provide decision-making reference for the business department.
The most effective way of information integration is to build a set of business and financial integration system. Through the integrated system of industry and finance, the results of organizational integration, cognitive integration, and process integration can be landed at the same time. Through the information system, the enterprise can improve the efficiency of the process, improve the efficiency of the business sector to obtain, process and provide data, the financial sector can also improve the efficiency of business processing, accounting, business analysis. Information systems, as an increasingly important collaborative role in the work process of enterprises, also drive them to continuously optimize their processes and improve employee awareness through big data and analytics.
"Integration of management" is the ultimate goal of business-finance integration, and is a process of continuous improvement of management. The continuous improvement of management relies on the analysis of business and financial data, so the integration of information is an important basis for the integration of management. Finance provides business decision-making support capability for business through the business integration system, thus enhancing the capability of the business side. The business side of the business process of continuous refinement of the management process, but also on the financial analysis and management of the new requirements, this process is also the financial staff to enhance the financial management capabilities of the process, because the financial staff is a very important aspect of the management capacity is also based on the depth of knowledge of the business.
Viewpoints "industry financial integration of the five "fusion" complementary, mutually supportive, information fusion (industry financial integration) can be landed at the same time the results of organizational integration, cognitive fusion, process integration, management integration is the ultimate goal of the integration of industry and finance."
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