How can companies reduce costs and increase efficiency?

Let’s first take a look at cost reduction and efficiency improvement measures at the policy level: In order to vigorously promote supply-side structural reform and effectively reduce the costs of real economy enterprises, the Jiangsu Provincial Government has issued three policies to reduce the costs of real economy enterprises. The relevant documents are intended to reduce the burden on the real economy of our province and help enterprises get out of trouble and "go into battle with ease."

First, enterprises’ cost reduction and increase effects are based on establishing long-term and lasting competitive advantages. Through policies such as continuously increasing or reducing various investments, we can reduce costs and release profits to overcome the current difficulties. This kind of thinking ignores the long-term effect of cost reduction and efficiency improvement. The government has a duty to help enterprises get out of trouble, but the role of various policies and measures is to build a good environment and relieve temporary pressure. They cannot bring considerable profits to enterprises in the short term. Enterprises should still base themselves on themselves to increase efficiency and establish long-term cost advantages. Dynamic Analyze the benefits brought by factor investment and increase necessary investment in R&D, technology, etc., so that enterprises can have a lasting competitive advantage.

Second, the government strives to create a good environment to help enterprises cultivate their internal skills and get out of difficulties. In the critical period of transformation and upgrading, the government should continue to "subtract" in expropriation policies, "add" in preferential measures, and "lower" thresholds in incentive measures, take multiple measures to benefit enterprises, and continue to provide benefits to enterprises. Create a good environment for survival and development and help enterprises get out of trouble. Enterprises should seize the opportunity, cultivate their internal skills, and integrate the concept of efficiency and cost awareness throughout the entire process of design, planning, manufacturing, and operation, improve the efficiency of equipment use, and enhance the efficiency of enterprise input and output.

Third, government-enterprise collaboration reduces relative costs and promotes enterprises to embark on the path of transformation and upgrading. Enterprises should focus on R&D design and technology investment to increase the added value of products, reduce relative costs, and promote enterprises to embark on the road of transformation and upgrading. Therefore, the government should encourage, guide and help enterprises to continuously improve their research and development capabilities, keep up with the market, promote product function upgrades through technological innovation, and have competitive advantages among similar products; pursue diversified development to meet the needs of different users in order to win Larger market share; launch high-quality new products to meet the constantly upgrading needs of users, thereby leading the development of the industry and generating inexhaustible driving force for corporate profits and development.

How can enterprises reduce costs and increase efficiency? Enterprises can make corresponding adjustments according to policies to reduce costs and increase efficiency.

Of course, optimizing its own management to reduce costs and increase efficiency is fundamental. Enterprises can also achieve this from many aspects. Different enterprises have different priorities:

Enterprises can reduce costs and increase efficiency. Related systems

Enterprises that travel a lot and spend a lot of travel expenses:

Build a one-stop travel platform: collect various products needed for corporate business travel to meet the needs of enterprises One-stop booking needs for all product resources including air tickets, hotels, train tickets, cars, airport services, visas, vacations, tickets, and insurance. Corporate employees can achieve a one-stop booking experience through the Travel Expense Control Cloud. The entire process is mobile, booking standards are visualized, no advance payment is required, and the travel experience is as smooth as silk.

Same-screen aggregation and price comparison: Embedded multi-supplier price comparison mechanism, for the same product, multiple suppliers synchronize real-time price comparisons, high-quality and low-price display, query and booking without switching between multiple platforms, improve employee travel experience, and satisfy corporate cooperation Standardize procurement and effectively reduce costs.

Open supply chain: The platform provides standardized product interfaces for air tickets, hotels, cars, and train tickets, and companies can flexibly choose to access them according to their own needs. Supports hosting and booking services for enterprise-owned purchasing agreements to meet the individual needs of enterprises.

Full process control: budget, application, approval, consumption, management and control, reimbursement, settlement, accounting vouchers, input tax deduction, data analysis and other complete business scenarios are integrated, and all processes, transactions and management functions are passed One-stop platform implementation.

Refined management and control: All kinds of expense activities of the enterprise can be detailed to one person, one thing and one standard, and various aspects of budget, application, approval, standards and behavior can be controlled before, during and after the event. settings to achieve multi-dimensional and refined management and control.

Intelligent reimbursement: seamlessly connect to corporate financial systems, automatically generate accounting vouchers, and realize industry and financial integration; intelligent invoice identification and intelligent review ensure that expense reimbursement is true, accurate, and compliant.

Innovative operating model: it can be light on operation or heavy on operation, breaking the traditional model where service providers are suppliers. It can separate service from service or integrate service. Enterprises can independently choose the service model to achieve Pay as you go.

Experience humanization: support saving in various scenarios and open welfare accounts; support excessive self-payment and mixed payment of personal benefits, balances and company payments; support refined expense standards, allowing one person to do one thing One standard, a large number of intelligent technologies such as AI are used to help employees use them efficiently.

Enterprise supply chain optimization achieves cost reduction and efficiency increase:

By building a self-built supply chain platform, the enterprise can introduce its own suppliers, establish a price comparison procurement system, and meet procurement compliance; in addition Suppliers in the platform are all selected by the enterprise to meet supplier compliance; in addition, the full process management of fee application, in-process control, and post-event reimbursement meets process compliance; finally, the platform has a large number of bills and documents Verification rules are preset to ensure that all bills and document submissions meet financial compliance requirements.

How to optimize the enterprise consumption supply chain is actually a topic and a direction, which is directly related to the nature of the enterprise, the scale of enterprise consumption, and the core demands of the enterprise. Next, the conventional optimization plan for enterprise consumption suppliers will be elaborated from several aspects:

1) Know yourself and the enemy: The premise of optimizing the supply chain must first analyze the actual situation of the enterprise, such as the enterprise's consumption scale, consumption Composition, data distribution, etc. (What is the total annual air ticket and hotel consumption of the company, what is the consumption of each airline on air tickets, how much is the consumption of each route, what is the average discount, what is the average price, what is the total hotel consumption , what is the consumption amount according to the hotel price range, and what is the consumption amount according to the city of stay), with these data foundations; in fact, it is what the customer's needs are, and what the company most wants to achieve is cost reduction, service guarantee, or compliance. requirements, after determining the priority needs of customers; finally, it is necessary to take stock of the company's own resources;

2) Price optimization: By taking stock of the company's own resources, combined with the company's consumption data and distribution, Assist the company to sign the corresponding supplier agreement to supplement, introduce suppliers that match the actual needs of the company, so that the company's own resources account for more than 60%, and the other 40% will be supplemented by other supply resources, which not only guarantees the price Optimal, it can also ensure resource coverage;

3) Service optimization: After understanding the needs of customers, we can optimize service guarantees based on the actual needs of customers, such as executive travel guarantees, airport VIPs Lobby services, efficient and preferential refund and exchange policies, priority check-in and breakfast-included accommodation experience, etc., from the perspective of service optimization, can not only help enterprises reduce costs in disguised form, but also improve travel experience;

4 ) Innovation model: Based on the industry and scale of the company, we can recommend flexible operating models to customers, such as integration of supply and service, separation of supply and service, light operation, heavy operation, and agency operation, to help enterprises introduce supply chain finance and reduce consumption of supply chain funds. Pressure;

Financial digital transformation achieves cost reduction and efficiency improvement:

Financial digital system is the technical foundation of financial digital transformation. "Finance is the body and technology is the application". Establishing a financial digital system The ultimate goal is to realize the self-liberation of finance, use new technologies to enhance financial value, and enable the financial department to better support corporate decision-making and improve business efficiency. Building a corporate financial digital system can be roughly divided into "four steps":

The first is to clarify the strategic vision, adopt design thinking methods, and draw a clear blueprint for reinvention;

The second is to deploy pilot projects , use agile development methods to test and deploy various current enterprise software, solicit feedback, and iteratively improve.

The third is to continue iterating, speeding up, and expanding digital capabilities through strategic plans. Continuously build and deploy necessary applications to respond to digitalization and reshape operating models and ecosystem strategies;

The fourth is to coordinate the ecosystem and formulate strategies based on the principle of comprehensive reshaping.

With the awareness of digital transformation, enterprises actively adjust business strategies, and by deepening digital management, relying on data, scenarios and algorithms to explore the essential business logic, making predictions and decisions based on business insights, and giving birth to New digital productivity has also put forward higher requirements for financial empowerment businesses. Creating value and integrating and synergizing have become important expectations for corporate financial intelligent expense control management systems. How companies can make good use of tools to cultivate their internal skills has also become a "big test" that will continue in the future. ".

Based on the integrated application of intelligent expense control management digital technology, a financial system with deep integration of business and finance will be built, so that finance can support strategy, empower business, assist decision-making, and prevent finance on the basis of basic accounting functions. Extending functions such as risk control, quality and efficiency improvement, and compliance management, fully participating in the company's strategy, marketing, asset management and other activities, and strengthening decision-making support and value management and control of the entire operation process are the most important aspects of future financial transformation. One of the goals.

In the past forty years, the development of financial digitalization has generally gone through three stages: computerization, informatization, and intelligence. In the past, finance was more of a "passive execution department", mainly accounting, emphasizing "hard professional" statistics, summary, and analysis. However, the rapid rise of intelligent cost control management accounting has gradually moved finance from behind the scenes to the front desk and grown into an "active planning department." The business began to emphasize insight, planning, and decision-making in "soft skills."

Therefore, intelligent expense control management is an important way for enterprise transformation and upgrading. An important goal of financial digitalization is to be data-oriented and drive business innovation and development, thereby promoting financial transformation. As expense control management is deeply related to various departments and businesses of the enterprise, a digital expense control system is built, with pre-planning, in-process management and control, and post-event analysis as the core, deeply integrating business scenarios and financial expense control, and promoting the refinement of enterprise expenses. Closed-loop management realizes the automated flow of the entire financial accounting process and the full-process control of corporate consumption behavior, thereby quickly adapting to changes in business needs, empowering corporate financial value creation, and driving continued corporate growth. It can be said that the digitalization of expense control management is an important starting point to help promote the integration of industry and finance and realize financial digitization.

Difficulties in the digital transformation of finance

The integration of intelligent expense control management scenarios breaks down industry and financial barriers, and human-machine collaboration reconstructs digital finance

Under the traditional expense control model, Financial processes and transactions are separated. After each month-end centralized reimbursement, the company's management knows how much has been spent this month. This management method of "ex post" rather than "before" expenses through reimbursement makes the company Expense control is often superficial and cannot help enterprises reduce costs and increase efficiency to a greater extent.

Shengyi Fee Control Cloud is based on a high degree of refining and summarizing industry intelligent fee control management issues, integrating solutions with information technology, and introducing the concept of "Fee Control Engine Configuration Center" to help The enterprise independently implements the enterprise's personalized management specifications, processes, and standards through engine configuration to achieve a unique management model. Rules involving personnel, positions, ranks within the unit, various business trips or expense scenarios, various refined standards, approval processes for various matters, reimbursement specifications, etc. can all be built into the Expense Control Cloud, allowing enterprises to All employee consumption expenditure behaviors can be executed and managed according to rules.

Intelligent cost control management is also integrated into online consumption scenarios, supports access to multiple suppliers, and establishes a price comparison procurement system to help enterprises implement their own agreement resources, provide multiple products for price comparison booking, and meet procurement compliance requirements. . It also supports automatic matching of travel standards based on travel matters, ranks and positions. It also supports strict controls such as no booking if the standards are exceeded, no display of the standards, and secondary approval of the standards to prevent compliance issues caused by exceeding the standards.

In addition, the widespread use of intelligent expense control management financial robots continues to simplify processes, providing finance with a more convenient and smarter toolbox, freeing finance from tedious and repetitive transactional work. Come out, gain insight into the business, and achieve management collaboration: OCR invoice recognition can quickly and accurately identify the authenticity of invoices, check for duplication, and extract structural data of invoices to assist employees in reimbursement with one click; the intelligent expense control management document review robot pre-processes financial review, including There are more than 100 verification rules to automatically review the compliance of expense reimbursement documents; the accounting robot generates accounting vouchers with one click; the payment robot opens the bank-enterprise channel for automatic payment with business documents; the certification deduction robot directly checks the certification from the invoice pool. Automatically calculate the amount of deductible input tax... Finance can use the accumulated massive structured data to dig deep into the value of the data, conduct industry-financial integration analysis, strengthen expense control, effectively control corporate business risks, improve decision-making support capabilities, and promote the digitalization of group finance , Intelligent transformation.

Under the wave of digitalization, many companies are vying to embark on the road of improving their financial intelligent expense control management capabilities and creating first-class financial systems. We look forward to these companies at the forefront of digital transformation delivering satisfactory answers. . Shengyi Technology has served many leading corporate customers in the industry and helped them embark on the road to digital transformation, including many who are leaders in various fields.

In the future, Shengyi Technology will continue to delve deeply into the industry, focus on customer needs, continue to carry out product iterations and upgrades, continue to optimize business formats, efficiency and experience, help enterprises establish efficient, integrated and agile financial management systems, promote the digital transformation of corporate finance, and accelerate Build a new digital development pattern.

Reference materials: 1 Jiangsu Provincial People’s Government? Reduce burdens and costs to help enterprises get out of difficulties, tap potential and increase efficiency, and promote enterprise transformation and upgrading - Analysis of typical cases of Jiangsu industrial enterprises reducing costs and increasing benefits

2 Shengyi Technology Intelligent Expense Control Management 4.0 helps enterprises decode the secrets of financial digital transformation?