Case Study - Electronics
Electronics Brand
Automation of Key Procurement Processes
Electronics
key issue
  1. Difficult to retrieve the budget availability online
  2. Difficult to standardize the approval process with the rapid growth of the company
  3. Unable to generate marketing analysis on budget allocation
  4. High operation and administration costs to maintain the collaborated data between two isolated systems for workflow and accounting
  5. Transaction delay between two isolated systems
Facts at a Glance
  1. Global Employees: 200,000+
  2. Global Revenue: US$3b+
  3. Country: Hong Kong
  4. A leading global electronics brand
FlexSystem Solution
  1. Workflow Management
  2. Financial Management
  3. Financial Query
Needs and Challenges
  1. Cyclical budgeting control (yearly, quarterly, or monthly)
  2. Budget availability check for procurement requests involving budget-controlled accounts
  3. Escalations in the approval process for exceeding budget availability
  4. Supplementary work processes for budget adjustments, with approval for increasing the budget
  5. Automatic update of accounting module with approved budget increases
  6. Retrieval of updated budget balance through a financial query tool
  7. Data exchange from accounting module including analysis, account codes, payment terms, etc.
  8. Automated voucher generation based on different settlement scenarios after payment completion
Benefits
  1. Unify user experience across procurement systems
  2. Improve control and monitoring of purchase requests
  3. Reduce transaction delays by integrating with the accounting system
  4. Enhance budgeting control for better management decisions
  5. Improve resource utilization through analytical reports on department and category budget allocation
  6. Streamline collaboration and boost productivity with tight accounting system integration
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