The Study Of On-demand Financial Controls In Information-based Organization

Recently,with the increasing economic integration of China into the global market,Chinese economy has been in a 'new normal state5 since 2013,where the speed of economic growth is slightly lower.Meanwhile,with the advance of the mixed ownership reform supported by the government,the development of organizations irn China shows a trend of diversity.In such a complicated economic environment,the achievement of target benefits requests organizations to have control over the efficiency and strategic integration of their financial management,which thus increases the difficulty of financial management and decreases the benefits.In the future,the development direction of the Group's financial control will be" systematic management,process-oriented management,and information-based management".Also,making full use of IT technology to establish a scientific management system,operation system,and decision-making system,therefore,intensive meticulous management and dynamic scientific decision-making will replace the extensive management and blind decision-making,becoming the Group's financial control development trend.However,there are a series of problems in existing financial control procedures,such as straying from strategic goals and risks of information control.Consequently,it is significant for organizations to properly use scientific information technology to conduct financial control.In existing studies,scholars have already proposed the concept of information technology governance in order to solve problems such as potential risks and contradictions with strategic goals.A global survey of 250 companies shows that companies with relatively poor governance have a low profit of more than 20 percent compared to companies with outstanding IT governance capabilities.The dissertation,based on the perspective of information governance,proposes a demand-based financial control system.The article analyzes the influence of information governance mechanism on different organizational respects,such as the environmental part,the operational part,and the communicational part.The mechanism of how information governance can link different organizational respects to each other and how to react timely according to information send by each aspect are also illustrated.Additionally,from the perspective of practicability,this dissertation constructs an appropriate financial-control model based on the research on relative theories,including financial accounting system,information control platform,business support system,and the BI intelligent decision-making system.In order to examine the practicability of the model,company A is taken as an example.The application of this model according to the financial situations of company A is also explained,which might make contributions to the study in this area.This study on financial control of organizations is taken from the perspective of financial governance,which is relatively new to those conducted merely based on information management.In terms of methodology,the dissertation uses case study to analyze the application of demand-based financial control model on organizations.Hopefully,the study can provide a new way of solving current problems of financial control and management in organizations.