Kingdee
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Cathay Group
Large enterprises
Products and services: a national brand enterprise with civil explosion as its main business, covering five major fields: civil explosion industry, rail transit automation and informatization, intelligent manufacturing and intelligent logistics, rare metal smelting, and other safety products.
Cathay Pacific Group: civil explosion integration rail transit automation and information technology, dual-core drive development.
Customer Overview
Cathay Pacific Group was registered and established in December 2006, aiming to integrate the civil explosive equipment manufacturers in the military system and tungsten industry system in the province. In 2017, it acquired 100 percent of the shares of Jiangxi Copper Civil Explosion and Weiyuan Civil Explosion, a subsidiary of the Provincial Civil Explosion Company, and integrated civil explosive equipment manufacturers in the copper and coal systems. In 2018, the province's civil explosive production enterprises were listed as a whole. In 2019, it acquired Beijing Taige Times Automation System Equipment Co., Ltd. to enter the field of rail transit. In 2020, it will be upgraded to a provincial-funded regulatory enterprise with the approval of the provincial government.
As civil explosive equipment is flammable and explosive dangerous goods, the characteristics of "license business" have set up a very high entry threshold for the civil explosive industry. For enterprises that have obtained the corresponding license, the license is the basis of stable production and operation, and also reduces a lot of potential competition. However, as my country's economic growth began to slow down, there was a serious overcapacity in the downstream. Affected by this, the prospects of the very promising civil explosion market suddenly became bleak. After more than ten years of development in the civil explosion industry, the service consciousness of enterprises has changed greatly. Therefore, civil explosion enterprises can only break through the bottleneck of the industry by "transformation and upgrading of strategy and mode" and from a single development mode to diversified development.
Business challenges
Since 2011, Cathay Pacific Group has continued to carry out digital transformation and reform, from "six unified management and control", "information construction", "safety production standard construction" and other reform processes. Kingdee Group has always been committed to serving Cathay Pacific to meet the challenges brought about by strategic transformation.
In the process of developing from a single development model to diversification, it brings the following challenges to enterprise management:
How to solve the integration of the basic information platform of the diversified group?
How to deal with the adjustment of personnel system brought about by the rapid expansion of personnel and the increase of organizational management workload? As a chemical manufacturing industry, the salary structure of each post is different, and the early accounting only stays at the manual accounting level, how to improve the efficiency of employee salary management? How to deal with the management challenges caused by the differentiated fiscal and taxation policies brought about by the diversified cross-regional mergers of the Group?
From a single process manufacturing enterprise to the daily business operation management of diversified industries, how can information support the development of enterprises?
With the rapid development of diversification, in the face of the newly introduced rail transit automation, intelligent manufacturing plants and other production sites, the process and production process of each product are different, the production cost accounting time is long, the cost difference is large, how to solve? Cathay Pacific Group's sales outlets are all over the country. The overall expense reimbursement needs to be for all employees. However, the long reimbursement time for employees leads to poor employee experience. How to optimize it? The sales and procurement business within the group involves different explosive varieties and usage. The business is complicated and the reconciliation workload is heavy. How can information technology be used to reduce the workload of employees?
In the face of the rapid development of group enterprises, how can the group's budget effectively reflect the current situation of enterprises, and at the same time, how to improve the efficiency of capital payment in the face of the problem of increasing demand for funds?
Faced with the heavy workload of fund payment and the long time of fund allocation, how to deal with it? How to adjust the financial accounting of each molecule and the budget of the group are inconsistent under multiple formats?
Solution
In order to solve the challenges brought by the strategic transformation of Cathay Pacific Group, Kingdee plans three platforms for the information system of Cathay Pacific Group. With the IT infrastructure platform as the supporting means, daily business operations are carried out through the business operation platform, and the Group's collaborative management platform is used to coordinate and unify the control of the Group's multi-organization business, and to make data summary analysis decisions.
The whole group takes IT foundation as the unified support platform to meet the unified basic master data requirements of Cathay Pacific Group under diversified development.
Through standardized master data, from the business directly to the financial, release the financial hands, reduce the first-line financial workload. The financial account set is converted and upgraded according to the new subject/new auxiliary accounting system, optimizing the computing ability and accelerating the presentation of reports. Establish simple and general tax voucher bookkeeping rules, and map all business scenarios from finance to tax to the financial system. Duan Gong, who is in charge of informatization, said: "Through the construction of EAS system, Cathay Pacific Group can directly use only the main data when adding new companies, thus greatly reducing the difficulty of integrating new companies."
Through the fine management of human, financial and material sub-modules, the daily operation efficiency of the use of business operations is better.
Through the implementation of human resources, group finance, capital management, supply chain management and production management models of Kingdee EAS products, the integration of human resources, finance and business data of Cathay Pacific Group is realized. In terms of human resources, the group's salary accountant has been reduced to two by optimizing employee entry, integrating talent pool and salary accounting and distribution. In the financial management of the group, the unified financial basic management requirements, the comprehensive integration of financial statements and external regulatory requirements to establish a fund control system, greatly improve the efficiency of fund payment, through the establishment of supply chain management system, the establishment of procurement, inventory, production, sales complete process, so that cost calculation is more accurate. Combined with the characteristics of the production of the civil explosive industry, accounting is refined to each workshop, each key cost object to carry out corresponding cost accounting, refined to each material of different product specifications and models, forming a complete production cost integration model. Zou Gong, who is in charge of the production and supply department of Cathay Pacific Group Headquarters, said: "My job is mainly to check the purchase requirements sent by various companies, integrate the payment orders from the headquarters, check the amount owed by various subsidiaries and the total amount owed by Civil Explosion Group. Previously, these operations required each company to collect data and confirm it repeatedly. Now, only one click is needed for approval, and the financial department can receive the news directly. If there is no problem, payment can be made soon. Efficiency is fast."
Covering all business links of Cathay Pacific Group with comprehensive budget control, so that group control can achieve comprehensive coordination.
Standardize centralized accounting, strengthen group control, realize the preparation of annual reports no longer call the accounting personnel of regional companies, reduce the regional financial burden, reduce the group's operating costs. Through budget control, strengthen cost budget and quota control, group expenses effectively reduced by 15%. Accountant Li, who is in charge of finance, said: "In the past, we had to check every bill to see if there was any over-budget. The existing EAS system was directly implemented according to the established budget, greatly reducing the burden on accounting and financial personnel."
Project Value
Overall data specification brought by supporting platform
Based on the supporting platform of the overall unified planning of Cathay Pacific Group, the data standard is comprehensively carried out, the system parameters and user rights are re-examined, and various basic data such as bank accounts are opened up. The data exceeds more than 1900 pieces of data information, thus establishing a data foundation in line with the diversified business development of Cathay Pacific Group.
Integration of human, financial and material resources, overall improvement of efficiency
The entry time of employees is shortened from one week to one day. Connecting with the talent pool, the level of the enterprise talent pool will be increased by 30%; The salary accounting and distribution are integrated, and the group's salary accountant is reduced to two. The integration of business funds, the integration of expenses and funds, the integration of salary payment, the efficiency of fund payment increased by 53%, the personnel decreased by 20%, and the financial handling fee was saved by tens of thousands of yuan every year, centralized procurement and separate delivery have increased the sales scale of explosives by 174000 tons per year from 100000 tons, and the unit cost of explosives has been reduced from 3700 yuan to 3400 yuan. Realize one-click cost accounting and restoration, realize the transformation from extensive manual statistics to refined accounting, and increase cost accuracy by 30%;
Comprehensive upgrade of group management and control, effective risk prevention
Benefiting from the launch of the Group's financial management system and consolidated financial statements, it not only reduces the workload of financial accounting, but also improves the traceability of business risks. Since the launch of the consolidated statement in 2018, the preparation of the Group's annual report has no longer called on the accounting personnel of regional companies, thus reducing the financial burden of the region. It takes at least 30 minutes for the consolidated report template to be opened in Excel, and only 3 minutes for operation after going online, less than 10% of the original. Equity offset from unable to calculate, to the group-wide equity offset calculation of 4 minutes/time; Current account offset has improved by 12 days from 15 days offline to 3 days now. At the same time, all financial data can be traced to the original related business.
Digital Transformation Value
Jiangxi Cathay Pacific Group has been facing the demand of mode transformation from a single chemical manufacturing industry to diversified development. The cooperation and trust with Kingdee in the past ten years have enabled Jiangxi Cathay Pacific to cope with the challenges brought by the digital transformation of enterprises. In 2020, Cathay Pacific will acquire Beijing Taige Group in the rail transit industry. The teams of both parties will only take three months to complete the overall launch of finance, human resources, supply chain, production and manufacturing, cost accounting, expense reimbursement, comprehensive budget, consolidated statement and fund management, which will well integrate the newly-added sub-group into Jiangxi Cathay Pacific as a whole and fully help Cathay Pacific Group to realize "civil explosion integrated rail transit automation and informatization, dual-core driven development" strategic objectives.
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