How Does A Financial Manager Adapt To The Competition Of Enterprises In The Information Age?

In the past, financial activities only required financial managers to understand the professional knowledge of accounting and finance, and independently undertake investment, financing and working capital management decisions.

In the information age, financial activities require financial managers to play more roles outside the responsibilities of Finance and accounting departments.

It requires financial managers to communicate complex financial data with specific businesses, such as marketing, information technology and operations, so as to work together to find creative solutions to specific business problems.

Therefore, financial managers spend less time preparing reports and providing reports, and spend more time promoting business value growth through analysis.

This new financial activity requires financial managers to become business partners or even strategic partners.

How can a company's financial manager become a collaborator and strategic collaborator of the business enterprise from the traditional counting expert who focuses on financial data processing?

First of all, financial managers should change their ideas and realize that they should pform themselves from the collectors and providers of financial information to the interpreters and consultants of information. They should provide more decision support and information analysis for specific business departments by providing information of multiple tasks and paction oriented activities.

Therefore, the vision of a financial manager can not be confined to internal accounting and accounting as it used to be, and it should be extended to the whole enterprise to provide important help for the enterprise to formulate short-term and long-term plans, such as short-term revenue raising and cost improvement, long-term mergers and acquisitions, etc.

Second, financial managers should pform and upgrade existing financial operation systems, including hardware and software, so as to form cooperative project teams with other business departments and facilitate participation in business decisions.

Because this kind of complex business decision is influenced by many external factors and has great uncertainty, it requires financial managers not only to have a good knowledge of Finance and accounting, but also to understand business and understand the business environment, economic environment and competitive environment.

In this way, the financial manager can describe to the business department the impact of the decisions that will be made on the financial indicators, how the resources will be allocated, what business targets will not be achieved, and what changes will be made in the tax burden.

To make this cooperation decision successful, financial managers must have strong social skills, listening ability, speaking ability, communication ability, presentation ability, cooperative working ability and analytical ability.

Financial managers should understand that they are not teaching business departments how to make decisions, but to help them make decisions.

Therefore, the financial manager should establish a full trust relationship with the business department and always regard himself as a member of the cooperative group.

Only in this way can we help other enterprises to succeed in the current competitive environment, and lay a good foundation for capturing opportunities for business development and forming new profit growth points.

Third, financial managers should keep pace with the updating of information technology.

The development of information technology promotes the pformation of business data to decision information and decision information to useful knowledge.

This is a process to promote the value growth of enterprises, and is also the inevitable result of the development of knowledge economy.

With the help of INTERNET, INTRANET and EXTRANET technology, enterprises can establish their own e-commerce websites and apply effective financial software, which can reduce a large number of complex and repetitive human labor, reduce labor costs, and improve the speed and efficiency of information processing.

In addition, with the help of these advanced information processing technologies, financial managers can make more effective strategic decisions in a complex environment, take the lead in the market and accelerate the growth of enterprise value.

In China, financial managers should adapt to the competition in the information age. In addition to their efforts, they need to create some external conditions.

For example, 1, CEO (CEO) or President (General Manager) should fully understand the strategic significance of the financial department. For senior financial personnel, such as CFO or other financial managers, they should be given full opportunities to understand their business and strategic decisions, such as attending the senior management meetings of the company, participating in the project development and business operation of the business departments, etc., and encouraging the financial departments to communicate with the business departments.

2, pay attention to the training of financial personnel.

In our country, the financial management education of financial personnel can not adapt to the rapid development of capital market, money market and information technology in China.

Regular or irregular training for financial personnel should not only introduce the intellectual resources of domestic universities or relevant professional institutions, but also introduce foreign intellectual resources.

IMA (the Institute of Management Accountants) organized by the US CMA (Certified Management Accountant) and CFM (CFM) examination, has trained a large number of management accountants and financial managers for the American society.

If the business and academic circles of our country can consider introducing such qualification examination system, they will play a good role in raising the financial personnel and raising the level of financial management in our country.

In this regard, we have gained some experience, such as Shanghai Finance University, Renmin University, northeast finance university, Nanjing Audit University and other universities, through the cooperation with ACCA the Association of Chartered Certified Accountants, directly introducing the latest original textbooks, organizing training and examinations, training a large number of world-class accountants for our country, and playing a great role in promoting the development of China's economic construction and auditing.

In addition, our Institute of internal audit and the International Institute of internal auditors have carried out the CIA (registered internal auditor) examination in China and have achieved great success.

Just as China's household electrical appliance industry and automobile industry must introduce advanced technology and management from abroad to develop and compete, our financial industry urgently needs to introduce foreign intellectual resources, update the methods and contents of domestic education and training, and promote the quality of our financial personnel as soon as possible, so as to better promote the participation of Chinese enterprises in international competition.