Integration Of Business And Finance Model And Application Research Based On SRWS Framework

Under the dual background of rapid development of big data,artificial intelligence,mobile Interne,cloud computing and other emerging technologies and the iterative and changing business environment,the comprehensive improvement of their own strength has become the key to the survival and development of every enterprise.As an important function of enterprise management,finance has become an important part of enhancing the comprehensive competitiveness of enterprises by constantly transforming in line with the changes of the times and the development of enterprises to exert greater value.At present,the new financial and business integration model has been explored and widely used in practice.In 2016,the Ministry of Finance issued the Basic Guidelines for Management Accounting,which for the first time proposed to use management accounting tools and methods to organically integrate finance and business based on business processes,so that "integration of business and finance" has become the direction guide for financial transformation.Under the hierarchical organizational structure,finance performs accounting functions,usually lagging behind business departments and being separated from their functions.Based on this,how to change the status quo of separation of business and finance and promote the integration of industry and finance has become a hot issue that enterprises need to solve urgently.However,the existing literature focuses on the discussion of its value and practical direction,and the research on the construction mode of integration of business and finance is relatively fragmented,the specific practice path is not clear,and there is a lack of theoretical guidance and mature experience to provide reference for enterprises.In view of the above practical problems and theoretical gaps,this paper conducts an in-depth study on the mode and application of integration of business and finance.Firstly,this paper sorts out the literature on the essence,motivation,value and related relationships of integration of business and finance,and analyzes the mechanism of industry-finance integration based on institutional change theory,cognitive behavior theory and synergy theory.This paper proposes that integration of business and finance is an inducing institutional change under the new cognitive form,and the management’s demand for information value under the background of insufficient information value promotes the occurrence of integration of business and finance,and the potential benefits such as the increase of financial information value drive the development of integration of business and finance.The integration of business and finance can realize collaborative innovation oriented by factor penetration,realize structural optimization with the transformation of financial functions into the core,and achieve performance improvement with the goal of achieving strategy.Furthermore,this paper positions Strategy(Strategy-S)as the starting point of integration of business and finance,and takes Recognition-R,Workflow-W,and System-S as the key elements of integration of business and finance to construct the SRWS spiral framework.This paper proposes that strategy has an impact on Recognition,process and system elements,and synergistically affects process optimization and process synergy with recognition to affect system construction,and recognition,workflow and system work in reverse to promote strategic update and adjustment.Based on the SRWS framework,this paper further analyzes the integration of business and finance model from the two levels of internal path and externalization patterns,and proposes that the integration of business and finance should be developed in stages according to the SRWS framework path of "strategy-recognition-workflowsystem",and finally form an externalization patterns with strategy as the starting point,including recognition such as accounting automation,workflows such as business financial system,and system construction such as building data warehouse.Secondly,this paper selects Company Y as a case company,focuses on the whole process of the construction and development of its integration of business and finance,and analyzes its practice of integration of business and finance based on the SRWS framework.Using qualitative text analysis,the original statements were coded by four elements of strategy,recognition,workflow and system through class division and node construction,then correlating the paths of action,and counting the word frequency to analyze the paths of financial integration of Company Y.Furthermore,this paper has clarify the existing application system of integration of business and finance in Company Y,analyze its path and overall model based on SRWS framework,and summarize its advantages and optimization directions in the process of integration of business and finance development.This paper argues that the advantages of the integrated development of company Y are:(1)decoding the strategy and promoting the realization of corporate value goals;(2)pay attention to cognitive training and enhance the internal and external driving force of employees;(3)build a three-pillar financial system to improve the level of financial management in an all-round way.In the future,Company Y can promote the implementation of overseas business strategies,further deepen cognitive training,and promote the upgrading of information systems as the optimization direction.Through theoretical analysis and case studies,this paper puts forward the following suggestions for the construction and application of integration of business and finance model:(1)accelerate the practice of integration of business and finance as a help to enhance enterprise value;(2)promote strategic decoding and achieve strategy-oriented business development;(3)pay attention to cognitive cultivation,and drive the implementation of strategy with performance incentive and corporate culture construction as the link;(4)optimize the financial system and promote collaboration of business and finance from a financial perspective;(5)accelerate information construction and improve the efficiency of financial management.Compared with the existing research,this paper uses a variety of theories to systematically analyze the background,essence and motivation of integration of business and finance,provides analytical basis for the mode and practice of integration of business and finance from a multi-dimensional perspective,and enriches the theoretical paradigm research of integration of business and finance.Secondly,this paper comprehensively and systematically constructs the SRWS spiral framework,so as to analyze the internal path and externalization mode of integration of business and finance development,and with the help of the application analysis construction path of case enterprises,summarize the experience and shortcomings,and form the integration of business and finance model and application analysis for the first time,in order to provide reference value for enterprises.