IntroductionEF Education is the world's largest private educational company that specializes in English training, educational tours and cultural exchange. EF Education was founded in 1965 by a young Swedish entrepreneur named Bertil Hult. Our first office was modest and our concept was straightforward: take Swedish high school students to England to learn English. It was a simple enough business idea on-site language and cultural studies but one with an enormous future. Four decades later, EF Education is the world's largest private education company, with a group of ten subsidiaries and non-profit organizations centered around language learning, educational travel and degree programs. Today, EF has over 26,000 employees, teachers and volunteers worldwide. With offices and schools in 51 countries, EF has turned the world into a global classroom.The rapid growth has made EF a well-known brand of English education in China now. Therefore, EF had to standardize its financial working process and establish a more stable, more localized and safer accounting system as soon as possible. In order to meet these needs, EF Education has selected HBS GLS to comprehensively localize its foreign financial software for its branch offices throughout China. |
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Key Challenges1.Double work in keying in voucher data in two accounting systems, error in manual adjustment. 2.Heavy workload and low efficiency, tough finance routine work and data matching difficulties, high risk. 3.Lack of unified accounting system among branches all over China, uneven level of localization, hard to standardize financial working process. 4.Unable to check and control all the data from |
Porgect Target1.Optimize and standardize operational processes, distributed data input in branches and unified management in headquarter. 2.Get rid of futile double work, meet both GAAPs by keying in data once only in CODA, improve work efficiency, reduce workload. 3.Reduce manual operation, enhance automation capabilities, enhance enterprise ability of Flex management. |
Why HBS Solutions1.Localize EF accounting system without changing or developing CODA ERP, reduce risk in implementation to the greatest extent. 2.Create integrated customer databases, give quick response to customized requirements, timely upgrade in accordance with the most updated policy from Local Finance Bureau. 3.Be adequate to fully meet requirements of Finance process standardization, in line with the rules and policies from government. 4.Flexible customization, timely update system functions based on EF's development and requirements. 5.A multi-attribute combinedly-defined-report help EF meet different requirements of management and audit. 6.User-friendly interface, wieldy function, short-term implementation. |
Main Benefits1.Strong after-sales support, standardized implementation and flexible customization services. The trinity ensures stability, flexibility and accessibility of HBS software 2.Achieve the unification of financial controls in whole Group, strengthen the ability of Financial analysis and management 3.All branches share the same information exchange platform and the information barriers have been cleaved 4.Obviate penalty risk from local government, timely updates to the latest standards and rules from LFB |
Highlight in Implementation1.HBS arranged a BRAIN STORMING in consultant team. EF's demand has been fully discussed and comfirmed. 2.Staff in branches participated in training through remote video-conferencing system 3.Secure relocation of historical data |
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