Finance Process Reengineering Under The Direction Of Process Integration Of Finance And Business

In the later period of 20 century, all the aspects of economy life was affected by unprecedented strength of the information revolution wave, the enterprise economic surrounding has been changed dramatically. The customer need is volatile, the technique innovation is changing with each passing day, the product life cycle becomes shorter continuously, the product differentiation need is higher and higher, market competition goes violent gradually, all of these put forward a great challenge to the traditional accounting mode, which was formed under the direction of the theories of labor division offered by Adam Smith.The famous American management expert Michael Hammer put forward the concept of business process reengineering for the very first time in 1990, later, the management thought was chased within the whole world, many firms positively use BPR to improve the existing workflow, trying to reply to the change of social and economy surrounding, and promote the competition ability. The finance process reengineering is the most important part of enterprise process reengineering. The writer thinks that, finance process reengineering should under the direction of process integration of finance and business, targeted to add value to the firm and fulfill the information need of stakeholder, fully make use of information and database technique.The dissertation bases on the basic theory of BPR and other forerunner management principles, elaborates the necessity and feasibility of finance process reengineering, introduces the implement ways, and analyses the influence on risk management framework, finally does a simple case-study using a reengineering example of Ji An Paper Manufacturer.The dissertation makes contribution mainly in two aspects: firstly, carries out an expanded analysis of the process integration of finance and business, creatively put forwards a point that using dual-function relationship of finance and business process to realize integration, and pushing forward management and control working integration after integration of information processing. Secondly, creatively uses the eight elements' risk management framework to analyze the influence of finance process reengineering on risk management.