The integration of EPM industry and finance is gaining momentum.

The integration of EPM industry and finance is gaining momentum. How does FONE break through the boundaries of financial digitization?

The "2021 China EPM "Integration of Industry and Finance" Industry Research Report" recently released by iResearch also shows that the integration of EPM industry and finance will develop towards a centralization and lightweight direction, with emphasis on cloud native, data system construction, and large-scale development. Comprehensive application of all-round technologies such as data, GPU, and AI.

Traditional financial services have long ceased to be the goal of enterprises assiduously. The accountant who was hunched, bent over, holding a water glass, and wearing reading glasses is no longer an image endorsement of finance.

 

Nowadays, finance has been integrated into various business activities of the enterprise and has become an important "dashboard" for business managers to make business decisions. From the formulation of business objectives, overall business planning, comprehensive budget planning, to control during the execution process, prediction and analysis of operation and financial indicators... With the advent of the EPM "integration of business and finance" trend, the financial system has begun to continue to evolve The new stage of digitalization has changed the previous state of separation of business and financial systems, and integrated the two into a comprehensive consideration. By strengthening the functions of the financial department and providing forward-looking guidance for business development, the two parties constitute a positive cycle of complementarity and complementarity.

 

 

The extension of enterprise services continues to expand, and the integration of industry and finance has become an important direction

Looking back at the Chinese enterprise service market that has emerged since 2013, IM, CRM, HR, expense control reimbursement, electronic signature and other fields are the hot spots in the first half. The commonality of these subdivisions is that they can help the relevant functional departments of enterprises well. Optimize the work process to achieve more efficient management.

 

From around 2018, with the further development of the mobile Internet, the continuous growth of business data deposited by enterprises and the improvement of data processing technology, enterprise customers have begun to attach importance to the analysis capabilities of enterprise software products. On the one hand, the main tracks of existing corporate services, such as HR and CRM, are being transformed. For example, CRM product functions have moved closer and closer to the core of customer relationship management from the initial sales force management-analyzing past sales actions and strategies To help make sales decisions.

 

On the other hand, new segmented products such as EPM industry and financial integration are also emerging. Based on processes, traditional financial systems such as bookkeeping, expense control, and reimbursement have been relatively mature. They have helped customers realize basic digital capabilities; and next, products that meet the needs of deeper business analysis will become new opportunities. Among these deeper analysis and decision-making needs, finance-related needs are obviously one of the core, which also meets the needs of enterprises for financial digital transformation to increasingly focus on the in-depth integration of finance and business.

 

It can be seen that finance has gradually transitioned from a back-office business to a front-end business, from a feedback link to a rehearsal link. The three most important things for an enterprise: capital flow, information flow, and people flow, must be connected with finance, and its role has changed from The support-oriented business has transformed into a centralization and hub-based business. From this point of view, the market size of the integration of industry and finance is larger than the market of pure financial software in the past.

 

In the stock market, the depth and difficulty of enterprise competition are intensifying. The market calls for a new generation of digital tools that can improve the efficiency of enterprise operations. This trend is breaking the boundaries between the original functional modules and levels of the enterprise, and it is forcing the iteration of the enterprise software ecosystem. And reorganization.

 

Since 2000, the integration of business and finance has been mainly realized through the ERP system. However, the past ERP system emphasized the use of one system to meet all needs from business to finance. This large-scale approach puts too high requirements on the system, and the ultimate outcome is often to reach a compromise and barely achieve business support.

 

Therefore, a mature EPM industry-finance integrated system should be composed of the integration of business systems and financial systems. But this has brought new problems, that is, the difficulty of system integration has increased significantly. At the same time, the business system has departed from the financial system's constraints, which has also led to a substantial increase in the error rate of business data. The solution is to build a central platform.

The integration of EPM industry and finance, which is evolving toward centralization, will assume the functions of financial rule provision, data processing, data storage and data analysis. Because it verifies, converts and integrates data in all business systems, financial accounting The system and business analysis system will obtain unified and accurate data, speeding up the speed of financial accounting and analysis.

 

Because the business system is no longer subject to financial rules and does not need to process financial data too much, it can obtain maximum flexibility and quickly meet the needs of business changes. Such a system modular design can not only realize cross-system sharing between master data, business data, and application modules, but can also be combined with IT systems through component plugging and unplugging to become a more efficient landing form.

 

In addition, lightweighting is also one of the important trends of EPM "integration of industry and finance" in the future. The local deployment of traditional financial systems may only be updated every few years, and customers need to pay for the new version; while the lightweight model of SaaS cloud deployment can be updated in real time, and customers can even use the latest version without perceiving it. The advantage of this service increases customer stickiness.

 

The "2021 China EPM "Integration of Industry and Finance" Industry Research Report" recently released by iResearch also shows that the integration of EPM industry and finance will develop towards a centralization and lightweight direction, with emphasis on cloud native, data system construction, and large-scale development. Comprehensive application of all-round technologies such as data, GPU, and AI.

 

Platform + product + scenario How can the integration of EPM industry and finance be more valuable?

Behind the rapid development of EPM's integration of industry and finance, the increasingly developed business digital environment has put forward higher requirements for data processing capabilities. For those enterprise customers with better IT foundations and certain system replacement costs, they will also have to Choose a lighter and more flexible system to adapt to the rapid iterative external market and frequent business adjustments.

 

The lighter posture has further helped EPM's integrated products of industry and finance to open up a wider customer source space, allowing the customer base to expand from large enterprises to small and medium-sized enterprises. This is a much larger "sinking market" for corporate services. After all, the number of large group companies is limited. According to the National Bureau of Statistics, the number of large companies in China currently does not exceed 50,000.

 

EPM industry-finance integrated vendors represented by FONE are native in the big data era and cloud environment in terms of technical architecture, so they can respond more quickly to customer business changes and provide a new path for corporate financial digital management. FONE focuses on core management requirements such as comprehensive enterprise budget management, statement consolidation, sales performance management, management statements, etc. It can help enterprises plan business, empower finance, help enterprise strategy implementation, and achieve the "small goal" of reducing costs and increasing efficiency.

Since the establishment of the company, FONE has continued to invest a large amount of research and development resources in product research and development, taking product research and development as the internal driving force of the company's long-term development, and actively building core technical barriers. Through self-developed M-OLAP (real-time online computing engine), FONE breaks through the performance boundaries of traditional EPM products and meets the needs of users for real-time calculation and agile adjustment, so that users can get better support in later use and expansion. Based on a reliable and efficient technology platform, FONE has now built a matrix of EPM products including FONE Planning comprehensive budget products, FONE FC consolidated statement products, FONE SPM commission cash back and other products.

In terms of experience, FONE strives to provide customers with a better application and service experience, mainly from the two aspects of direct sales and channels for continuous improvement. Introduce a more excellent business and consultant team in direct sales to provide users with a rich product portfolio and business services.

 

In terms of delivery, FONE chose to cooperate with the four major strategic consulting agencies, head integrators, and upstream and downstream manufacturers to launch better overall solutions to meet the different needs of users, continuously improve the quality of software delivery, and provide users with high quality The maintenance services of the company truly enable software products to provide users with value.

It can be seen from the development of FONE that every step of FONE is always closely related to the development of EPM industry and finance. With the development of the enterprise and market changes, it is also conducting explorations that keep pace with the times. In view of the enterprise's new requirements for business prediction, discovery and handling of abnormal situations, how to deal with the situation, and the agile adjustment ability of the system, FONE's products and services emphasize the ease of use and high performance of the product, and users can self-configure, At the same time, it meets the performance requirements of scenes such as rapid prediction. In addition to the introduction of new technologies such as AI algorithms, FONE is also more deeply integrated into the overall information architecture of the enterprise. This can be seen from the Market Place (business financial application market) launched by FONE this year.

 

In order to ensure that enterprises achieve the best experience of integrating EPM, industry and finance, FONE pays full attention to user experience from the user's perspective, penetrates the goal of improving corporate efficiency into products and services, and presses the "accelerator" for enterprise business innovation. Compared with the basic digitalization of the financial system, the EPM industry-finance integration system that can meet the needs of business analysis and decision-making assistance of enterprises has the opportunity to obtain excess dividends in the wave of big data. The biggest beneficiary.

If the enterprise is regarded as an ecosystem, after the reform of the financial department, it will bring about changes in the surrounding environment, which will bring about changes in systems, processes, and data, which will affect the entire enterprise and improve the effectiveness of all departments. . Just like the butterfly effect, the financial digital transformation led by the integration of EPM industry and finance will not only have a profound impact on the entire industry, but also create a broader new world for enterprises.