How does finance transform digitally?

Financial digital transformation often faces three problems in daily work:

Financial digital transformation

First, internal information is isolated, and industry and financial data are not unified. The internal informatization of the company involves multiple systems, which are not connected with each other. In the process of enterprise consumption, consumption application, purchase reservation and reimbursement are often separated. Financial personnel can't grasp the consumption of employees in the whole business process and the authenticity of bills in real time. Once bills have problems, they need to be recalled for reimbursement, which increases the internal friction of financial personnel and reimbursement personnel.

The second is compliance. Compliance and risk go hand in hand. The risk in an enterprise is not necessarily a compliance problem, and compliance problems will inevitably lead to risks. Finance is the last line of defense for enterprise compliance. From the mode of 1.0 to the mode of 3.0, the purchase, reservation and consumption of enterprise consumption need to jump to the third-party consumption platform, which does not conform to the principle of parity purchase and is difficult to effectively control expenses.

The third is the internal friction caused by a lot of repetitive and inefficient work. On the one hand, repetitive work greatly occupies financial time; On the one hand, breakthroughs in new technologies such as artificial intelligence, RPA and big data also put forward new requirements for the mission of financial management and the ability of financial personnel. Financial managers need to pay attention to the future transformation trend and functional changes in order to cope with more and more challenges and uncertainties.

We put forward a new financial digitalization solution:

0 1 Seamless integration of internal and external systems of the enterprise to realize the integration of production, finance and tax.

Aiming at the problem of internal information islands and inconsistent financial data in daily financial work, based on enterprise expense management, an open light application integration platform is built for enterprises to break the information islands and realize data sharing and interconnection among systems. Through the standard API interface, the seamless integration of enterprise internal system, external supplier system, external service provider system, external supply chain finance and expense control cloud platform is realized, all kinds of expenses are uniformly controlled, the approval process is standardized, invoices are uniformly collected, and reimbursement is concentrated in one system, which reduces the frequent interaction of multiple sets of system data and realizes the real integration of production, finance and tax.

02? Summarize the scientific purchasing mode of price comparison and control the cost from the source.

There is no shortage of consumption platforms for enterprise consumption. At present, what most enterprises lack is how to deeply integrate the enterprise consumption platform with the fee control system and change the ex post control of enterprise consumption into ex post control. Seamless integration of high-frequency consumption scenarios of enterprises such as travel, conference, recuperation, vacation, group building, red tourism, etc. through API interface mode, the scientific procurement mode of aggregate price comparison is realized, the cost is controlled from the consumer side, and the unified settlement mode is centralized online, which makes enterprise consumption more convenient, fast, transparent and compliant, and reduces the risk of non-compliance such as invoice authenticity and payment. In addition, it also has built-in audit and expense standard monitoring, multi-dimensional analysis, and real-time inspection of expense items and expense policies to realize the whole process of expense compliance policies.

03? AI+RPA empowers finance and helps enterprise financial transformation and upgrading.

In the era of intelligent fee control, the financial department is no longer just the processor and recorder of transactions, but also the controller of enterprise risks, the supporter of business development and the creator of diversified values. Apply AI+RPA and other new technologies to the field of enterprise expense reimbursement, realize the intelligence of expense reimbursement, automate financial accounting and improve work efficiency. With the help of the platform, financial managers can focus more on external communication, business development, financing strategy and digital decision-making, so as to better coordinate the development goals of enterprises.

References:

How to break the digital transformation of finance in the era of digital intelligence?