Research On The Digital Transformation And Effect Of Midea Group's Financ

With the economy and digital technologies developing,and country policies constantly supporting,the traditional manufacturing enterprises must follow the pace of times,seize the opportunities and make the digital transformation actively in the company.However,the home appliance industries,as the most important part of manufacturing enterprises,face the change of market is not avoidable and turn to transformation is needed.Besides,Covid-19 has huge impact on many companies these years,and most companies are forced to carry out the digital transformation.Moreover,the technology not only affect the enterprises and market,but also influence the consumers.The technologies enhance the level of people living and change the concepts of consumption,and the young people becomes the main consumer group,leading to the consumer demand turn to high-end and personalized.According to these,the industries must make digital transformation combining with the internal and external market environment.But in the process of transformation,the ways and implementation effect of financial department transformation are the significant topics recently.Based on the investigation,a plenty of documents are focused on the theoretical analysis of the transformation reasons and methods,its rarely related to one particular company.Nonetheless,case studies can answer the detailed questions of transformation.It is beneficial for the person to link the theoretical analysis with the truly practices,to enlarge the vision of study,and study the paths and affection of financial digital transformation in the deep level to bring the enlightenment for other companies.Midea as the leading enterprise in the home appliance industry,it has already carried out the financial digital transformation through all kinds of ways in early 2012,and it gained the success and created value for the corporate,and moreover,it becomes a sample for other corporates to study.This thesis studies the relevant literature of the motivation,specific implementation strategy and performance of digital transformation and financial digital transformation,and analyzes the motivation,paths and performance of financial digital transformation in theory,then uses case analysis way,treats the Midea Group as the study object to analyze the particular motivation,paths and performance of financial digital transformation in enterprise.In motivation part,this thesis mainly focuses on the serious phenomenon of the‘data island’ and some external factors;in the paths part,this thesis simple analyzes the process reengineering,industry financial integration and technology development;next,financial and non-financial effects are mainly explained.In the financial effects,this thesis chooses 2011-2021 financial data of Midea Group so as to make vertical comparison with the different phases and make horizontal comparison with the industry mean.With the combination of non-financial effects,this thesis draws a conclusion: financial digital transformation can improve the efficiency of financial work and organizational operation,reduce the cost of operation and management and financial work fraud,error risk,expand the value of data,promote financial integration,realize group internal business process scene,digitization,enhance market competitiveness,and achieve excellence in the operation of the value chain.Finally,this thesis makes some suggestions and enlightenment according to the study on the financial digital transformation of Midea Group in order to help other enterprises to implement financial digital transformation.