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Research on Cost Management of Business and Finance Integration Based on Digitization

Author(s)

Yuzi Xiao, Limiao Zheng, Zhonglian Luo

Affiliation(s)

School of Economics and Management, Jiangxi Normal University, Nanchang, Jiangxi, China

Abstract

With the rapid development of the global economy, enterprises are facing increasingly fierce market competition. To enhance competitiveness, enterprises urgently need in-depth research and reform of cost management. This paper takes Xiaomi Corporation as a case study, focusing on the implementation situation and effects within the enterprise, and identifies issues in business-finance integrated cost management such as the ineffective integration of financial management and business processes, the need for improvement in information technology, and security risks in the financial shared service center. In response to the above problems, this paper proposes a series of solutions: strengthen the cultivation of a business-finance integration culture and raise awareness of integration; establish and improve information technology systems to enhance technical capabilities; strengthen data risk management in the financial shared service center.

Keywords

Business-Finance Integration; Cost Management; Digitization

References

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