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Introduction
GE is a diversified technology, media and financial services company, is committed to solve the world's most intractable problems. GE has wide range of products and services, from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media, customers in more than 100 countries around the world, with more than 30 million employees. So far, GE has developed its industry in China, with 14000 employees, and operates more than 50 legal entities.
Main Challenge
1.More than 50 legal entities in China, according to merger and acquisition, business between each other are independent.
2.ERP system is separately used in each legal entity. Hence, corresponding solutions to specific ERP system need to be provided by each legal entity.
3.The vast majority of legal entities haven’t obtained government approval accounting certificate, some legal entities have already been warned by local finance bureau.
4.ERP system setting up is based on global GAAP, so that it is not able to generate China statutory accounting book, which cause huge potential risk.
Project Target
1.Obtain government approval accounting certificate for each legal entity, and using ERP system in compliance.
2.No impact on ERP system, smoothly and safely generate China statutory accounting book.
3.Customized report is designed by individuals, such as Tax report, Audit report.
Why HBS Solutions
1.No additional impact or second development during optimizing ERP system, therefore, substantially reduces implement risk.
2.Sufficient project team across the country will support the project go on simultaneously
3.Two GE legal entities have been successfully corporate with HBS for finance localization and compliance project in 2005.
Main Benefits
1.Obtain government approval accounting certificate for each legal entity on time, consequently obviate penalty risk.
2.Generate China statutory accounting book by capturing relevant data from ERP automatically or semi-automatically, and print in computerized format.
3.According to customized report, which enhance and strengthen accounting management and analysis capacity.
Highlight in Implimentation
1.Arrange experienced and appropriate project team based on customer’s current situation. Confidently deal with various ERP systems, for instance Oracle, SAP, QAD by plentiful project template and document.
2.Mature accounting plus IT background deeply understand local finance, tax bureau’s requirement. Flexible logical set-up in order to hand over final outcomes completely.
HBS Solution
Our Client
