Kingdee

Chongqing Water Investment: Strengthen Shared Services, Create New Water Investment

 

Customer Overview

 

Chongqing Water Conservancy Investment (Group) Co., Ltd. (referred to as "Chongqing Water Investment") is the first provincial water conservancy investment group in the national water conservancy industry. In November 2003, in order to solve the problem of "water bottle neck" restricting the economic and social development of the whole city, Chongqing Water Conservancy Investment (Group) Co., Ltd. (hereinafter referred to as the municipal water investment group) was formally established with the approval of Chongqing municipal Party committee and municipal government, becoming the first provincial water conservancy investment group in China. In November 2019, the Municipal Water Investment Group completed its professional reorganization and became a key municipal state-owned enterprise directly held by the Municipal SASAC.

"The group has 54 secondary subsidiaries, 7 tertiary subsidiaries and 7 branches. In 2020, the group's asset scale will reach 66.9 billion yuan, operating income will reach 3.089 billion yuan, asset-liability ratio will reach 49.77 percent, and the main credit rating will maintain AAA. The scale is large and the management level is different. We are also thinking about how to play the group's comprehensive efficiency and enhance competitiveness." The water investment group mentioned in the early stage of the high-level project.

In line with "strengthen management and control, prevent risks, improve corporate governance capabilities; achieve refined management and operations, and create customer satisfaction." The IT transformation idea, the current traditional single information system architecture and hierarchical organization of water investment can no longer meet the requirements of rapid development, and it is urgent to create an intensive service environment through a shared service platform, improve customer and employee satisfaction, and promote the healthy and healthy development of water investment.

 

Business challenges

 

"Good policy, big scale, weak sharing"

 

Good external environment brings opportunities

 

The state implements the "going out" strategy, the green energy strategy, the strategy of vigorously developing hydropower and nuclear energy, the strategy of promoting the development of high-tech service industries, the strategy of promoting the joint reorganization of central enterprises, and the strategies of stabilizing domestic growth, adjusting the structure, and promoting reforms. Great development opportunities for the water conservancy industry.

 

Large scale, complex model, difficult to control

 

The group's business covers the main city of Chongqing and many districts and counties, with large scale and difficult management; on the other hand, the financial management of Chongqing Water Investment Group is faced with a wide range of points, traditional and complex business models, numerous business systems, and financial personnel. The level varies and other management and control difficulties.

Minister Meng of the Finance Department of Water Investment Group mentioned, "Combined with the policy orientation and the requirements of Chongqing Water Investment Group's own development, financial management is in urgent need of reform. Only by upgrading the existing financial system can we strengthen the vertical control of the group headquarters over the subordinate units, promote the horizontal synergy effect of financial business integration, and improve the group's overall value creation ability and the group's overall market competitiveness."

 

Solution

 

Financial Sharing High Blue Consulting Helps Realize Standardization

 

Through the delivery of high blue consulting products on the ground, the business process, information system, organization and human resources, operation and management are reengineered to achieve financial sharing. Examples are as follows: 13 main processes and 89 sub-processes have been combed and completed, covering all financial operations, and the system implementation plan has been prepared. Water Investment Sharing has built nine major financial sharing systems, covering nine aspects such as expenses, contracts, payable, receivables, cashiers, banks and enterprises, and master data, eight business systems including reimbursement system, material system, contract system and image system have been built.

 

Integration of industry and finance improves efficiency

 

 

 

Application Architecture of Water Investment Group Sharing Platform

 

Through Kingdee EAS, the whole process of closed-loop management from business initiation to reimbursement, approval, shared review, fund payment, voucher processing, report preparation and tax declaration is realized. Open up the external tap water charging system, seamlessly integrate the capital system, contract system, material system, cost system, human compensation system, legal audit and safety supervision system, realize data sharing, business and financial integration, and standardize business processes; Realize direct bank-enterprise connection and online fund settlement with 19 banks; At the same time, it is also interconnected with the golden tax system to automatically handle various tax matters and improve the level of financial intelligence.

 

Strengthen the centralized financial management model to strengthen control.

 

Establish a large-scale and unified master data control mode, and the sharing center will carry out unified management, unified coding and unified maintenance of master data to effectively solve the problems of data redundancy, inconsistency, poor sharing and low quality. Establish a new financial management model for business finance, shared finance and strategic finance, let professional people do professional things, and clarify the boundaries of their respective division of labor; Sharing financial personnel is concentrated, reduce the differences in accounting treatment of accounting personnel scattered in different places.

 

Shared Services Flowing

 

In combination with Kingdee EAS shared service platform, a full-staff self-service reimbursement mode is established, and invoice cloud is seamlessly integrated to realize the whole process management from business application, reimbursement, leadership approval, financial audit, automatic accounting voucher, online payment, and solve the problems of repeated reimbursement of invoices, manual financial control of reimbursement amount, manual financial accounting, etc. Manage with budget management to truly achieve full control and analysis before, during and after the event.

In the water industry, the confirmation of collection has always been a difficult problem. Each subsidiary company needs to complete the income confirmation and collection confirmation of hundreds of thousands of tap water payment. The workload is large, small and trivial. Through the application of EAS integration scheme, the collection document is automatically downloaded from the front-end bank flow and pushed to the collection claim interface. The business personnel and business finance of the subsidiary company define the batch business of similar charging business and the batch accounting information is appropriate. To a certain extent, the work pressure on the collection accounting is reduced and the accounts are consistent with the facts.

 

Build a centralized payment center for large-scale funds to promote efficiency

 

A large-scale and centralized fund payment center has been established. After the front-end document is approved and approved, a payment document will be automatically generated as the payment basis of the settlement center. It is required that all payments can be completed only after seeing the payment document/issuing document.

Minister of Finance meng mentioned that "at present, under the writing of Kingdee Company, we have opened 19 banks' direct bank-enterprise connection (wage generation) and electronic receipt printing, with the coverage rate of bank-enterprise accounts reaching 90%. The coverage rate of bank-enterprise wage generation is 95%, and the settlement center has 6 people, 67 account sets have been completed, 13000 fund payments have been realized, and the payment efficiency has been greatly improved."

 

Strong human resources management and control business is flowing.

 

Through the S-HR system, we have set up a standardized and standard organizational structure, personnel and salary system for water investment, realized the whole life cycle management of personnel, and became a good helper for enterprises to "select, educate and retain people.

"After the accounting in our hr system is completed, it is pushed to the sharing center. The sharing center only reviews the total amount and keeps everyone's salary details confidential. Then the sharing center reviews and pushes it to the bank-enterprise interconnection after entering the bank. The bank knows the details and issues them to each employee's salary card through the bank. Our efficiency has been greatly improved and our business is more convenient." Minister Cheng, Director of Human Resources of Water Investment Group, mentioned it in his communication.

 

Big data analysis improves timeliness and reduces risks

 

Through the financial sharing operation monitoring platform, not only can the task completion rate of each organization and personnel in the financial sharing center be presented in a timely manner, but also the statistics of the timeliness of task processing can be realized through the financial sharing operation platform, which is convenient for internal performance appraisal and work bonus distribution.

Through the light analysis tool, the modeling and analysis of various scenarios such as trend analysis of financial and business data, year-on-year ring analysis, early warning analysis, etc. are realized, which improves the timeliness and accuracy of data presentation and effectively avoids management risks.

 

Project Value

 

Strengthen group control and improve risk prevention and control

 

Strengthening collective control capabilities and improving risk prevention and control are the primary tasks of the water investment group sharing center, and building a sharing center does not mean having natural control capabilities. In combination with strategic development objectives and key management and control requirements, Shuitou Group has improved and established 10 new management systems, issued quality assessment methods for sharing centers, and set up management and control standards for sharing centers from four aspects: organizational personnel management, budget assessment management, internal audit wind control management and financial accounting management, so as to achieve risk control objectives.

 

Efficiency improvement

 

After the establishment of water investment financial sharing, it has been gradually optimized. From the initial stage of construction to the present, business financial personnel have gradually shifted from basic accounting to financial management. Business standards have been advanced to various business lines. The timeliness of task processing in the sharing center has been greatly improved. From the completion of accounting for eight account sets in a week to the completion of accounting for 67 account sets in 3 days at present, the accuracy of accounting has also been greatly improved.

The sharing center gradually requires that the working day be cleared and settled on the same day, and all shared audits of arrival tasks be completed on the same day. When the amount of documents is large, it shall not exceed 2 working days. For documents arriving before 4 o'clock on the same day, funds shall be paid on the same day, and non-emergency funds shall not exceed T 1 working days.

 

 

 

Driving Financial Management Transformation

 

The financial management mode of water investment is showing a trinity pattern of "strategic decision support, business operation promotion and accounting sharing service" by centralizing the scattered, repetitive and easy-to-standardize financial work from the financial departments of subsidiaries to the financial sharing center of the group. The trend of financial management specialization, financial business integration and financial accounting centralization is formed, financial sharing drives the transformation of finance to management accounting.

 

Supporting the Group's Strategic Transformation

 

The financial sharing data center will be gradually established with the coverage and promotion of the sharing center. Standardized high-quality accounting data, capital data, budget data, asset data, human resources data, etc. will certainly provide support for the group's strategy, transforming from seeing data to seeing data, helping the group to build core competitiveness and finally realize value creation.

 

Digital Transformation Value

 

Employees enter through a unified work portal, all employees self-service intelligent reimbursement, intelligent payment and accounting, employee satisfaction is greatly improved, and the ability to connect employees is reconstructed;

Connecting hundreds of thousands of customers' collection business, the collection confirmation efficiency is more than 40%, improving the accuracy and timeliness of data and reshaping the service quality of water investment;

Through the data collection of intelligent devices such as invoice cloud and image system, OCR identification and intelligent extraction, the connection capability of intelligent devices is constructed, and the business experience capability of flowing water is constructed;

Accurate data, auxiliary decision-making, business decision-making efficiency is more than twice as high as before, refactoring data analysis capabilities, effectively helping water surrender low risk, and improving management and control.