The 2023 Digital Intelligence Asia-Pacific Tour · Salon · Shanghai Station was successfully concluded. Oracle NetSuite helps enterprises to upgrade their financial management and realize digital intelligence management and control!

Financial digital transformation is an effective path to achieve financial management goals. On August 10th, Hitpoint Cloud, together with Fenbeitong, Keike, Linamar, Times Angel Medical and other enterprises, participated in the Yishihui [2023 Digital Intelligence Asia-Pacific Tour · Salon · Shanghai Station] event. Mr. Wang Ruojing (hereinafter referred to as "Roger"), vice president and technical director of Hitpoint Cloud, shared the theme of "How to build an integrated system of industry and finance to support the rapid development and change of enterprises" on the spot. He made an in-depth analysis from four aspects: the introduction of the mature business-finance integration model, the analysis of the status quo of business-finance management of high-growth enterprises, the summary of key points for the construction of business-finance integration, and the excavation of the internal driving force of corporate finance, providing new insights for the digital transformation of corporate finance.

During the event, Roger first introduced that a mature business-finance integration model should have four characteristics: clear and smooth business and financial processes, centralized and unified data management, strong corporate risk management and control, and business-finance information to guide business operations. On this basis, the enterprise can further realize the financial management from the back end to the front end, strengthen the coordination of business and finance, and further guide the production and operation of the enterprise.

During the period, Roger also mentioned that for most companies today, the common business-financial integration problems are mainly reflected in the following aspects:

• Fragmentation of front, middle and back-end data, lack of a comprehensive perspective, making it difficult to obtain the real operating conditions of the enterprise;

• Manual processes are slow and error-prone, and financial consolidation is time-consuming;

• Difficulties in obtaining information, resulting in employees not being able to check and screen the latest information in a timely manner;

•The system is difficult to expand and cannot adapt to the rapidly changing business environment;

•The original system cannot support new business development, and the replacement cost of software and hardware invested in the early stage is high.

Then, in response to the above problems, Roger called on enterprises to promptly build a future-oriented business-finance integration management model to create a truly standardized, transparent, and standardized corporate business and financial management norms.

01. Easy expansion: The system can add and develop functions with business changes, and quickly respond to market business changes.

02. Comprehensive insight into the business: the enterprise management view remains real-time and unified.

03. Data integration: data is accurate and automatically updated, and employees can customize labels according to their needs.

With the methodology in place, how do companies actually proceed? Roger helped us summarize the main points from the system level and business level respectively. At the same time, in order to help everyone better understand, Roger also shared a case. Through the case analysis of Bide Pharmaceutical and Longrui New Energy, he helped everyone dig deeper into the release of financial internal driving force.

As the core part of enterprise informatization, financial digitization can improve the financial efficiency and accuracy of enterprises and improve the level of decision-making. Through sharing in this event, Hitpoint Cloud hopes to help enterprises achieve refined financial management and achieve sustainable and healthy development of enterprises.