Financial Control Study Based On SAP System In Bekaert Group

With highly development of market economy, enterprise groups emerge in great numbers and develop towards internationalization to play an important role in global competition. Enterprise groups introduce ERP (Enterprise Resource Planning) to improve management level and enhance competitive power. The extensive application of ERP and the great change of group internal and external environment bring change to financial management that is the core of enterprise group management. The tradition financial management becomes not suitable to highly developed enterprise group gradually, and in this situation a whole new financial management mode is urgently required to fully strengthen the role of financial management and contribute to the growth of enterprise group, as a result the financial management mode change based on ERP is born.Being faced with the fierce competition of domestic steel cord industry and the significant price rising of raw materials, Bekaert as a global first-class brand is suffering from hard challenge from market competition. To adapt to market change, Bekaert group conducts strategic transition, excavates the potential energy, looks at group internal management control and seeks maintaining competitive advantage. To better suit market demand and company development strategy, Bekaert group should inspect and reestablish group financial internal control management mode so as to improve efficiency and enhance service and management level.Aiming at the exiting problems in Bekaert group financial control, this paper conducts analysis using advanced financial management ideology and methodology combined with advanced ERP management concepts. Also corresponding solutions are suggested expecting to strengthen group financial management level and enhance enterprise competitive power. This paper is divided into 5 parts. The first part, which is the review of relevant theory, introduces the evolving process of internal control theory and ERP theory at home and abroad, and also makes comments on relevant theories. The second part gives an introduction to the basic condition of Bekaert group and the cause analysis of exiting problems in the group financial management control mode at present. In the third part general design proposals and implementing optimization procedures are suggested to solve financial control problems. The safeguard measures form the fourth part. As the summary of the whole paper, the fifth part elaborates on the research deficiency and looks forward the future research directions. The work of this paper is not pure theoretical research but to solve practical problems using relevant theory of financial management control. The author hopes to solve the emerging problems in the group financial internal control management and also provides some practical experience and lesson for the coming management system integration project by analyzing and studying the existing company financial management control mode.