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China Merchants Group
Large enterprises
Products and Services: Multi-sharing Centers Achieve Digital Merchants
China Merchants: Multi-sharing Centers Achieve Digital China Merchants
Customer Overview
China Merchants Group (hereinafter referred to as "China Merchants") is an important state-owned backbone enterprise directly managed by the central government. Its headquarters is located in Hong Kong, and it is also listed as one of the four major Chinese-funded enterprises in Hong Kong. In 2017, the economic indicators of China Merchants Group reached a new high: operating income of 584.4 billion billion yuan, an increase of 18 percent over the same period last year; total profits of 127.1 billion billion yuan, an increase of 14.3 percent over the same period last year, ranking second among central enterprises; and by the end of 2017, the total assets of the group were 7.3 trillion billion yuan, an increase of 7.8 percent over the same period last year, ranking first among central enterprises. China Merchants Group has become one of the eight central enterprises that have won the-level business performance assessment of the State-owned Assets Supervision and Administration Commission of the State Council for 14 consecutive years and has been an "outstanding performance enterprise" for four consecutive terms ". In the Fortune 500 list released in 2018, China Merchants Group was shortlisted for the first time, setting a record for the longevity of the world's top 500 Chinese enterprises with a history of 146 years. At the same time, China Merchants Bank, a subsidiary of the group, has also been shortlisted in the 2018 Fortune Global 500, and China Merchants Group has become a well-deserved 500 aircraft carrier group.
Business challenges
With the diversified expansion of the group's business format, the business continues to grow stronger and bigger. Under the call of "going out", the future development of domestic and foreign mergers and acquisitions in various sectors requires finance to provide more diversified decision support and efficient services. However, at present, the allocation of financial resources and functional distribution of the Group's headquarters and various sectors are restricted by a large number of transactional and operational basic work, the financial support for business strategy and in-depth business development is lacking, the financial core value is insufficient, and the financial management system cannot adapt to the Group's strategic requirements and the rapidly changing market pattern. For this reason, the financial sharing service center is the key for China Merchants to quickly complete the grand transformation from the control headquarters to the platform headquarters. Only through the establishment of the financial sharing service center can we break through the bottleneck in the group's transformation.
Solution
China Merchants Group has formulated a financial sharing strategic plan based on its diversified industries and multi-regional management. In order to give full play to the enthusiasm of each sector, use financial sharing construction as a means to build a multi-level sharing center according to business areas. On a unified financial sharing platform, each sector establishes a unified financial accounting system and a unified capital and debt business process, so that The group's unified accounting system policy is implemented, the group's capital and debt monitoring is strengthened, accounting standardization, standardization, and refinement are realized, and financial transformation and upgrading are promoted. At present, through two years of sharing construction, with China Merchants Shekou as the pilot unit for the construction of the sharing center, China Merchants Shekou Sharing Center and China Merchants Airlines have realized the sharing and online operation of the sharing center. At the same time, China Merchants Port, Logistics and other sharing centers are also promoting the construction of the financial sharing center step by step.
The construction of China Merchants Group's financial multi-sharing center realizes a set of management mechanism, two major regional layouts, three major sectors in an orderly manner, two major sectors within the construction principle, and a top-level design concept of a shared operating platform. The unified management of processes, systems and performance at the application of the three major grippers at the shared operation level is used to realize the standardized management of the Group in each operation center.
Standardized financial data to provide a reliable basis for company decision-making
Through the construction of the sharing center, the group uniformly handles basic accounting operations such as review, bookkeeping, payment, and reporting, and independent and automated accounting processing, reducing the risk of errors and artificial account adjustments, and improving the timeliness and timeliness of financial data transmission. accuracy. Financial reports can timely and accurately reflect the front-line business, and provide a more accurate and reliable basis for the formulation of financial business policies and budget preparation.
The sharing process of industry and wealth integration provides high-quality and efficient services.
Through the construction of the Financial Sharing Center, the Group has standardized the automatic billing process at the front end of the Group. Operational data are entered uniformly by the business operations department in the system. If data errors are found during the review process of billing personnel, which lead to incorrect bills, they will be returned to the business operations department for adjustment, and the bills will be reviewed again after adjustment. The AR billing management post collates the paper documents provided by the operation department according to the customer and distributes them to the billing personnel for use. The billing personnel review the bills according to the customer. The planning of this process realizes the operation between unified business and finance, and opens up the interface between business and financial system.
Financial team structure optimization, play the core value of finance
Through the construction of the financial sharing center, the group has carried out a professional division of labor for financial personnel, so that more high-end financial personnel are no longer focused on accounting and payment, more involved in budget analysis, performance management, cost management, tax planning, exchange rate risk management work. This requires the realization of the combination of finance and business, involved in the business operations of enterprises, strategic planning, to help strategic landing, that is, the transformation to management accounting.
Project Value
China Merchants Port Holdings Co., Ltd. has joined hands with Kingdee EAS to gradually unify nearly 2380 accounting subjects and accounting items, unify nearly 53 financial policies and systems, unify multiple front-end business systems, and realize the forward movement of financial management, not only managing financial accounting, more through the EAS sharing platform to standardize the port's contract management, billing rules, accounts receivable management, business management, operating cost management, terminal operation billing system, so that the sharing center becomes the enterprise financial business integration management of the grasp. In addition, through the transformation of financial sharing, increase the proportion of management accounting, improve the position of the accounting department in the group, and form value-creating finance.
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