How to build smart financial solutions for financial management of chip companies?

Author:Acloudear , 2022-09-15 11:21   
How to build a smart financial management system?

Under the influence of the epidemic, the prices of raw materials and energy have soared, and the risk of supply chain interruption from time to time has brought business stagnation. The performance of chip companies, including their financial management, has been under unprecedented pressure. Although China’s chip industry seems to be in short supply, our chip companies face great challenges in financial management due to rising costs, changing demand and compliance risks. When our chip companies face a series of challenges, what kind of impact will our chip company’s financial management suffer? See the following figure for a brief introduction:

 

 

In fact, in the face of a series of challenges and influences, can the original financial management system of chip companies support the existing development and changes? Is slow, inaccurate, incommunicable, inflexible, and resource consumption too high a major pain point in the financial management of many chip design companies? In this issue, Acloudear, a chip semiconductor digital transformation expert, shares with you how to build a smart financial management system and enhance the core competitiveness of chip companies in the financial management of chip companies.

 

The role of financial management of chip companies is changing

 

Just now, we mentioned a series of financial management of chip design companies, including the pain points in the financial management system of other chip companies. To solve these pain points, we first need to understand some problems in the financial management of traditional chip companies. Let’s first experience the traditional financial management scenario through the following figure.

 

 

Nowadays, the role of financial management of chip companies and other companies is changing, from keeping good accounts and managing money to the chief of staff of enterprise strategy. They need to interact actively with business partners to simplify and automate business processes, support new questions, and provide new insights in the decision-making process. Therefore, more and more chip companies are not only satisfied with building financial management systems, but also hope to maintain competitiveness through smart finance to cope with the complex and changing external environment.

 

What will the financial management of leading chip companies look like?

 

Mike Pearl, global cloud computing director of PricewaterhouseCoopers, believes that: “In the future, the financial department will become the central hub of enterprises, linking enterprise data from different business departments with financial measurement indicators to help enterprises make more intelligent decisions in the operation process.” Then, our chip company’s financial management wants to become the central hub of the enterprise and help the enterprise make more intelligent decisions. Digitalization and intelligence are inevitable. In this regard, we might as well explore the SAP solutions adopted by 9 of the top 10 semiconductor enterprises in the world.

 

Financial management process of chip companies brought by SAP

 

For the financial management of chip companies, SAP’s view is that the key to financial management is to keep abreast of the latest business situation. Similarly, they also bring smart finance, an excellent solution for financial management of chip design companies and chip companies. By simplifying and automating business processes, we can help chip companies achieve semi-automatic and automatic financial management processes, so as to completely liberate the labor force of chip companies’ financial managers and devote more energy to strategic affairs.

 

The solution of chip financial management brought by SAP

 

Based on the financial management practice and experience of large enterprises at home and abroad, four points are summarized: strategic support, personnel and organization, process and system, and digital implementation. Our financial management solution of SAP chip company is to build a set of cloud system integration and business support for enterprises from the perspective of financial strategy.

 

 

When applied to the practice of financial management of chip companies, SAP has brought a set of intelligent financial management system integrated with digitalization to realize the intelligent operation of financial management of chip companies.

 

 

Through the successful use of the following three aspects: the next generation financial relationship model, advanced digital technology application and the world’s leading practical experience, the chip company can be empowered to manage its financial affairs and achieve intelligent operation. Take a brief look at the five modules of best financial practice.

 

 

Through the end-to-end best business practice process brought by SAP, we can help chip companies, including our chip design companies, to manage their financial affairs, simplify the process and improve efficiency. At the same time, actively interact with the business department, and make full use of digital technology to enable data to circulate in the business department. Through analysis, new insights are constructed to provide scientific and reasonable support for enterprise decision-making.

 

As mentioned above, we just share the leading digital solutions from SAP from the financial management system to the system of the chip company. In fact, there are many related contents of smart finance.

 

For more information about the excellent financial management solutions of chip companies and chip design companies, Visit the official website to gain more.

This article "How to build smart financial solutions for financial management of chip companies?" by AcloudEAR. We focus on business applications such as cloud ERP.

Scanning QR code for more information


Recommended

04
2020-02
How to evaluate the supply chain management level of enterprises
Tagore once said, “it’s easy to talk if you don’t want to speak the complete truth.” Therefore, it is a very prudent thing to evaluate others or enterprises. Of course, this also applies to the topic we are discussing today: evaluating the level of enterprise supply chain management. The development of any thing has its objective laws and characteristics of environmental factors, which ultimately forms today’s model or appearance. Therefore, the current supply chain management level of enterprises is the result of yesterday’s continuous accumulation. […]

16
2020-01
Why are all ERP systems of listed group companies sap?
Looking at the global scale enterprises, we find an interesting phenomenon: most of the world’s top 500 enterprises choose SAP ERP system, while the following listed companies almost choose SAP ERP system one-sided in the choice of ERP system. As the “master of management behind the world’s top 500”, sap, the world’s software giant, has such great charm? With the development of globalization, large enterprises are bound to use new technology to support their business operation and complete their own deepening reform. According to incomplete […]

15
2020-01
Which cloud ERP do small and medium-sized enterprises usually choose?
China has the largest and most dynamic group of small and medium-sized enterprises, which has grown rapidly in the past decades. With the rapid development of small and medium-sized enterprises, their demand for information technology is increasingly strong, especially driven by new technology, the demand for digital transformation of small and medium-sized enterprises has become overwhelming. Digital transformation is not only an important factor driving the change of business model of small and medium-sized enterprises, but also an important technology influencing the purchase decision-making process […]

15
2020-01
The ranking of cloud ERP, this one is enough!
When the digital wave sweeping the world, new technology and new revolution continue to boost the rapid development of the economy, when the scale of the trillion level digital economy is emerging, where is the future strategic planning of the enterprise? Almost all of the world’s top 500 enterprises go to the cloud for the first time. When the introduction of cloud ERP digitalization drives the transformation of enterprises and achieves remarkable results, what will be the future of listed, group companies and massive small […]

27
2019-04
AcloudEAR Joins SAP Cloud in World Internet of Things Expo. See you at A3 Pavilion
With the rise of the Internet of Things, as the only cloud platinum partner of cloud computing giant SAP China, AcloudEAR is actively using the world Internet of Things platform to vigorously promote the application of SAP Internet of Things to the manufacturing field and expand the influence of SAP Internet of Things brand. On September 10, 2017, AcloudEAR from Shanghai will join hands with SAP to attend the 2017 World Internet of Things Expo. Team members from the headquarters will come to Wuxi in […]

27
2019-04
Accelerated “dual engine” in SAP China market: cloud computing x digital transformation
▲ Mr. Li Qiang, Senior Vice President of SAP Global and General Manager of SAP China, giving a keynote speech On January 18, 2018, the “2018 SAP Greater China Partner Summit” was successfully held at the mangrove resort hotel next to the beautiful Sanya Haitang Bay. More than 80 SAP partners participated in this summit, which brought together a lot of industry leaders. With enthusiasm and expectations, everyone shared the beautiful blueprint of “Smart Cloud, Connected Innovation” in SAP. Mr. Li Qiang, SAP Global Senior […]

Talk

Demo

Get Quote

Phone

Phone

400 690 3218

Message

Top