Case Study Of MI Group Financial Management Based On ERP System

With the rising tide of the economic globalization, more and more enterprises prone to merge with other entities to enhance core competitiveness. A great number of companies implement ERP (Enterprise Resource Planning) system due to below reasons:Financial management, the core of enterprise management, has to be updated and upgraded along with application of new ERP system and new challenge of dynamic economic environment. The traditional financial management mode is no longer adapted to development of enterprise managements and is gradually phasing out. There is an urgent request for the company to build a new financial management mode which is more functional and effective to the management team. Hence the integrated financial management mode based on ERP system mergesDover group is consists of a plurality of manufacturing corporations, it merges M group and I group and set up a new company called MI Group. In the beginning, the MI group faces a series of problems due to change of organization. For example:how to effectively capture reliable financial information, how to monitor subsidiary through finance function. The essay illustrates the way MI group solve these problems by application of the integrated information system.This paper has five sections:introduction; literature review, research on the integrated financial management model; case analysis of MI group and summary. It demonstrates how MI group reduces the risk of operation, control cost, improve the company’s management level through ERP. The management restructuring project which MI is going to work on can benefit from integrated financial management mode. MI group has shed light on competitive advantage of EFR tool and it’s an epitome for other corporation to learn from.