Factors influencing the integration of business and Finance

To be subversive or to be subverted has become the two branches in front of many Chinese entrepreneurs. More and more enterprises are worried about being behind the times. More and more enterprises are seeking change and keeping up with the pace of the times. Enterprise digital transformation has become an important symbol, business and financial integration has also become an important breakthrough in the process of enterprise digital transformation, which has been paid more and more attention by decision makers. So is it difficult to achieve business and financial integration? It’s not so simple, because it’s the two important parts of enterprise management that need to realize the integration and organic unity from process oriented data. Since it is in line with the actual situation of the enterprise itself, it also needs to meet a series of demands of the enterprise, such as rapid response, flexible operation and continuous innovation required by the current and future development. So let’s put aside the trivial details and look at the factors that influence the integration of business and finance.

In the past, they were the same. Now, they need to be unified. Is it to rely on force to integrate, or to sort out the management ideas of cash with the help of technology? Of course, this is more or less like a revolution. If there are reform pioneers, there will be conservative forces. Who is the vanguard? An enterprise manager who advocates financial integration. Who are the conservative forces? Too rigid influence or even hinder the integration process. Therefore, today we are going to unveil the business and financial integration of the old school, the true face of the influencing factors.

Conservative force 1: business, financial management system and management
Of course, we should first talk about the system, which is the most important resistance to the integration of business and finance. For example, modern enterprises still go through the traditional financial accounting mode. In addition to the accounting work, the financial department does not participate in the systematic management work, which will lead to the information processing is not timely, and can not monitor and make decisions in real time. Of course, such a solution is not without it. Today’s advanced cloud ERP can be done, but you need to choose a good cloud ERP supplier and choose its powerful financial and business suite to realize the integration process. If you can realize the end-to-end process reconstruction like sap, it will be better.

Conservative force 2: software application incongruity
In the digital era, the application of Internet, big data, artificial intelligence, each new technology, will throw away the traditional ERP system and traditional financial software. Enterprise traditional ERP, no matter how advanced before, either high cost upgrade, or version locking, a corner can be, no problem. But how do business and finance work together? You can wait. Competitors have been running ahead of you for a long time. How to wait? Therefore, both financial software and business financial integration of enterprise management software, all need to comply with the digital iteration. Cloud ERP or large-scale cloud ERP suppliers are in the movement, and the business and financial suite based on cloud technology is also a good choice.

Conservative forces: isolated information island
Business software management business department and financial software management financial department are independent in information and cannot realize real-time data sharing, which is the legendary information island. Small and medium-sized enterprises are often not obvious. Once they are involved in business expansion and need to face more complex data and situations, these problems are highlighted. Therefore, it is very necessary to have a set of formal procedures and regulations recognized by both the business department and the financial department to handle these different special businesses in coordination.

Conservative forces: People’s cognition, how fast and introspective, etc
In fact, there are still many factors hindering the integration of business and finance, such as the lack of self-awareness, the lack of high level, the tendency to follow habits, and the blocking of integration with the new era and new things. Of course, there are undeniable software design optimization and maintenance, as well as problems in the integration process of business and financial integration, because business and financial integration is not achieved overnight, it needs continuous optimization in stages.

Now I understand that it’s not so easy to realize the integration of internal business and finance. First of all, we need to recognize the situation, improve our cognition, and at the same time, we need the courage to change and the optimization to sink our hearts. Of course, it is also very important to choose what kind of reliable partners to help enterprises achieve this. For a more comprehensive understanding, consult the acloudear — SAP partner.

This article "Factors influencing the integration of business and Finance" by AcloudEAR. We focus on business applications such as cloud ERP.

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