Volume 4,Issue 5
Integration of Cross-Departmental Financial Data for Improved Decision Making in Group Enterprises
The present work is devoted to the fundamental connections between cross-departmental financial data integration and the improvement of decision-making capabilities within conglomerates. It initially explains the conceptual framework, features, and principles of implementation and subsequently discusses major issues such as different data standards, poor system compatibility, absence of cooperative mechanisms, and poor quality control of data. The paper suggests implementation mechanisms that can be described as common data standardization, development of compatible technology platforms, cross-departmental coordination systems, and overall quality control during the entire process. The research shows how these initiatives will facilitate strategic decision-making, operational planning, resource allocation, and risk management, and Kingdee AI Xingchen is used as a case study to confirm the efficacy of integration. The study offers useful examples to conglomerates aiming at maximizing decision-making processes by integrating cross-departmental financial data.
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