Practice Study On The Integration Of Business And Finance Management Of Power Transmission Engineering Co.,Ltd

In the ever-changing Internet era,many new technologies have emerged,especially big data and artificial intelligence,which have a huge impact on the social environment.In the new economic form,the challenges and risks faced by enterprises are diversified.If enterprises want to win in the market competition,they must consider how to optimize the allocation of enterprise resources,use all kinds of modern technology,and improve the quality and efficiency of operations.The "financial integration" enterprise management integration idea of business-driven financial development and financial development supporting business operation is in line with the demands of enterprises under the development of the current market economy,and more and more enterprises are exploring measures and tools for financial integration that meet their own conditions and development needs,such as process reengineering,establishing shared centers,increasing information construction,and improving comprehensive budget management.The company has been exploring more and more measures and tools to meet its own conditions and development needs,such as process reengineering,establishing a sharing center,increasing information construction,improving comprehensive budget management,etc.A Power Transmission and Transformation Engineering Co.,Ltd.is a direct wholly owned subsidiary of Y Provincial Power Grid Company,which undertakes three major businesses: power grid infrastructure construction,power grid operation and maintenance,and power grid emergency repair.State-owned electric construction enterprises gradually lost distribution system protection under the influence of China’s electric power system reform in recent years,the former industry leader’s advantage is no longer obvious,and the competitive environment of the power grid construction market is exceptionally fierce.At the same time,with the market for quality engineering,construction efficiency,and construction safety requirements standards increasing,the current construction project management content is increasing,but human flow,logistics,information flow,and capital flow cannot fully achieve the effect of real-time integration and sharing,and financial management is faced with operational control difficulties,low efficiency in capital management,and other challenges.In 2019,the senior management of a power transmission and substation engineering limited company recognized the importance of financial integration in the industry and began to implement a series of integration measures,such as involving business personnel in the revision of the financial reimbursement management system and establishing indicators of financial linkage,among other things.However,the implementation stage of financial integration is in its early stages,these measures are superficial,and they have not yet achieved obvious results.The road to financial integration still has a long way to go.At the present stage,there are many domestic studies on the mode of financial integration from various perspectives.This paper compiles the relevant literature,summarizes the concepts and mainstream models and tools related to financial integration,and analyzes the financial integration of industry in combination with A Power Transmission and Transformation Engineering Co.Through financial index analysis and questionnaire analysis,we explore the current situation,influencing factors,and problems and propose optimization ideas and countermeasures:implementing business process reengineering based on the financial sharing center model,increasing information construction,improving comprehensive budget control mechanisms,building a scientific performance assessment system,and ensuring the sustainability of financial integration through step-by-step improvement,process supervision,and talent construction.It provides theoretical guidance to improve the management efficiency and enhance the competitiveness.At the same time,hopefully,it may enrich the research on the connotation of financial integration through the analysis of the practical case of financial integration in A Power Transmission and Transformation Engineering Co.,Ltd.and then draw corresponding conclusions in order to provide useful insights for other electric construction enterprises that are on the way of implementing or preparing to implement financial control changes and promote the development of financial integration.