Bubugao financial digital transformation in the new retail era



With the emergence of new retail concepts, online and offline integration, experiential scenes, community-based services, digital marketing, and fine management and control have become the main themes of retail development. With the development of IT technology, the traditional retail industry is transforming into data-driven smart retail.

In recent years, BBK has opened the O+O strategy, opened up online, returned to the entity, rebuilt the global supply chain, and gradually transformed into a digital enterprise. The successful transformation is inseparable from the innovative and efficient financial management system and the support of financial sharing service center.

So what are the highlights of BBK's shared digital transformation? FSSC specially invited Liu Xiangning, General manager of Financial sharing Service Center of BBK Group, to share those successful transformation experiences and secrets.

Liu Xiangning is currently the general manager of financial sharing Service Center of BBK Group. He has served as the financial director of the Real Estate Division of BBG Group and the project director of the Group Financial sharing Service Center. He is good at diversified group financial management and control and information construction.

Successfully organized and implemented the launching of Oracle and Mingyuan ERP systems in BBG Real Estate Division. In 2014, organized and completed the construction of BBG Group's financial sharing center, and led the self-research and development of the core system SSOA, which obtained the national software technology copyright. At the same time, it won the Excellent Practice Award of China Enterprise Financial Sharing Center in 2018 and the Asia-Pacific Smart Financial Sharing Best Practice Award in 2018 and 2019 for two consecutive years.

First, Bubugao overview

BBK Group was founded in March 1995 in the hometown of the great man Xiangtan, Hunan province, in 2008, BBK commercial chain Co., Ltd. was listed on the Shenzhen Stock Exchange, is the first Chinese private supermarket chain company listed.

The Group is committed to becoming a leading commercial and service operator in China, and implements the Great Southwest strategy for offline development. The Group has 692 multi-format physical stores in Hunan, Jiangxi, Sichuan, Chongqing, Guangxi, Yunnan and other provinces and cities, and has won the retail champion in Hunan and Guangxi for many years.

Tencent and Jingdong have invested more than 1.6 billion yuan, which is one of China's top 500 enterprises, China's top 100 chain companies, and top 10 commercial real estate brand value. It has more than 10 kinds of business formats, such as supermarkets, department stores, home appliances, e-commerce, catering, convenience, real estate, logistics, etc., with sales of 41.5 billion yuan in 2019. BBK commercial chain hereinafter referred to as BBK.

During the epidemic period, all the supermarkets of BBK operated as usual, implemented the measures of staff ceaseless rest, commodity price did not increase, and actively deployed livelihood and defense materials. In order to ensure the timely supply of grain, oil, rice and eggs, vegetables and fruits, masks, alcohol, disinfectant and other materials for thousands of households, countermeasures were taken as soon as possible:

1. Response during the epidemic -Better purchase

During the epidemic, Bubugao actively promoted online and community group buying business, such as: Better purchase mini program, Better purchase to physical supermarket stores for the performance of orders covering the surrounding 3 km community, access to Meituan, Jingdong, hungry me and other platforms, through the store to obtain orders, delivery from the store, the distribution of "90 minutes" and "select time" or "self-pick", so that residents "do not leave the house" to eat vegetables and use assured supplies.

2. Response during the epidemic -POP Mall

Cooperate with JD.com and Tencent to establish a wechat POP mall with Better Buy wechat mini program as the carrier, allowing enterprises and merchants to enter, give full play to Tencent's social traffic and scene advantages, and connect online and offline, merchants directly connect with Jingdong Mall in terms of goods, inventory and other aspects, enjoy the agent operation and all-domain e-commerce services, and users can choose freely. Enjoy the national free mail service and quality after-sales service.

3. Response during the epidemic - Small steps

Set up a small step of good fresh, to the standard prosperous optimization, daily good fresh. It serves the residents of the community outside the three-kilometer range of the store, and complements the home platform "Better Buy".

Adopt the next-day community group purchase mode, place orders through wechat community order collection and mini program, enable its own logistics distribution, and order from the warehouse to the community. In early February in Changsha and Xiangtan pilot, the number of services in the month reached 200 communities, the average daily order volume per community reached more than 100 orders, during the epidemic period to provide convenience for community residents with inconvenient travel.

4. Response during the epidemic - Logistics distribution

Use 5A logistics enterprise Yugao Yuntong Logistics Park for emergency dispatch, and organize vehicles to work overtime to transfer and distribute materials; Ensure the store's daily quota of 1,000 tons of materials to provide a solid backing for expanding online business.

5. Response results during the epidemic

The epidemic has changed the way of popular consumption, from "Better purchase to home" to "POP mall" to "community operation", Bubugao is gradually deepening the correlation with customers and users, and the digital membership has increased rapidly by more than 20 million as of May.

6. Response and results of the Financial Sharing Center during the epidemic

During the epidemic period, the financial sharing service center also fully participated in and supported the "anti-epidemic, ensure supply" action of the store, and the employees supported the inspection and fulfillment of the home business in the supermarket, and opened the VPN home remote working mode for some employees who could not come to the post in the epidemic area.

In order to ensure the payment of procurement funds and ensure the timely arrival of livelihood materials and epidemic prevention materials, the store and employee funds and reimbursement applications are approved through the mobile bill of lading/approval, and more than 10,000 suppliers can complete the online reconciliation, online billing, settlement and payment process by logging in to the supply chain system at home.

The platform also supports T+1 quick payment, all POP mall merchants and small premium fresh commission settlement and payment in accordance with T+1-3 mode, all financial statements from January to April are normally issued without a day's delay, the account is closed on time on the 1st, and monthly/quarterly financial statements are issued.

Second, BBK shared digital transformation

In the new retail era, there are also some experiences in the face of digital transformation:

1. Financial accounting development history of BBK

The first stage: single store accounting from 1995 to 2000

Phase II: Regional accounting for 2001-2006

The third stage: 2007-2013 regional accounting + commodity management centralized settlement

Fourth stage: 2014 - present shared centralized accounting

2. Development history of the company's financial software

The development of financial accounting and the development of corporate financial software are closely related, and BBK has gone through 5 different stages from the establishment of the company.

The initial period of the company: 1995-2000, mainly manual accounting.

System module unification stage: In 2001, the accounting software of UFyou U8 LAN was used to open up with the business system, reducing the manual purchase, sales and inventory and vouchers. In 2004, the Kingdee K3 system was changed to the regional network mode to issue the ledger template mode to ensure the unity of accounting rules.

Business and financial integration stage: In 2007, UF NC system was upgraded and integrated with the business system. At the same time, UF capital system model was connected through the settlement statement of financing (supermarket) and Shangyou (department store), and payment was made through the bank-enterprise direct connection mode. In 2013, I applied ORACLE's EBS system, used financial ERP management mode for accounting and management, processed documents and automatically completed accounting and payment through USS, open interface platform, direct connection of various businesses and other modes; The concept of business and financial integration was strongly promoted

Financial digitization stage: In 2014, the financial sharing platform was established. From expense reimbursement to commodity and non-commodity settlement, to revenue audit and miscellaneous management, and then to general ledger, it was gradually improved and constructed, including the application of new concepts and technologies such as middle desk and microservices, and transformed into financial middle desk construction for the first time. In 2019, the financial ERP system has become more automatic, intelligent and efficient, and has been transformed into financial sharing intelligence for the second time.

2020 - Future: IT →DT to serve the public, stimulate productivity based technology development, by providing financial services to external service objects by digital financial transformation, smart finance.

3. Comparison of the business process before and after the establishment of BBK financial sharing

Bubugao has different stores and formats in five provinces and cities. Suppliers need to settle accounts in each region before sharing, and after the establishment and operation of the sharing center for one year, suppliers only need to log in the supply chain system at home to apply for reconciliation, issue invoices, submit applications, and then send invoices to the sharing service center for processing. Complete reconciliation applications, settle invoices and receive payments without leaving home.

Employee reimbursement is similar, at present, the employee reimbursement of BBK's 692 stores only needs to submit an application through the mobile or computer side → complete the approval → receive the reimbursement payment.

4, BBK industry financial integration information system architecture

The system of Bubugao is mainly divided into four levels: data system, business system, control system and decision system. The management and control system includes all the financial systems of Bubugao, which carry out data interaction through the business system and management and control system of the financial center, and the financial center can connect with any method, enterprise and industry payment methods.

For example, Xianglong POS in supermarkets, Shangyou system in department stores, Jinli system in home appliances, Mingyuan sales system in real estate sales, member system, online Better purchase system, etc., are all through the business system and financial center and financial system to achieve the integration of industry data.

5, BBK share financial transformation means

In the process of the completion of information construction, simple technology innovation without supporting management innovation can not achieve sustainable and stable operation, technology innovation and management innovation are like two wings of the wheel, indispensable; Only when technological innovation and management innovation are well matched, effectively coordinated and progressively interactive, can we jointly promote the high-quality sustainable development of enterprises.

6. Examples of technological innovation

① Middle desk creation: Through process management, system embedding, and data processing, create a data interaction center - SSOA middle desk, which undertakes most of the pressure of process management and system implementation, better connects the business system of the front desk and the financial system of the back office, and synchronizes the update in real time.

The SSOA middle desk can be connected to all the business software of Bubugao, and the background can be connected to any financial system, and all the business systems are integrated and connected to the middle desk.

In the middle desk, there will also be some business applications or business handling requests. These documents are transmitted through the interface of different financial systems, and are attributed to the financial system through intelligent identification. According to different financial rules and business standards, accounting vouchers are automatically generated and sent to the fund payment platform to apply for payment, and the information of relevant modules is sent back to the financial system for accounting. At the same time, after the end of the month, through the middle desk for liquidation, and finally issued statements.

② Intelligent robot: in the face of a large number of data and documents, intelligent robots can automatically match and verify the batch data received. BBK Financial Sharing Center introduces OCR intelligent scanning and expands its application, and uses OCR technology to intelligent bill of lading and intelligent examination to ensure the accuracy and integrity of the data.

Through OCR technology smart bill of lading on the mobile side, if the single has 6 invoices, it only takes one minute to submit smart reimbursement through the mobile phone end, which greatly releases the reimbursement limitation.

③ Self-developed image: sign, scan, archive and other functions of a variety of interface docking. After the completion of the image system, it has begun to push from the financial side to the business side, support a variety of interfaces, seamless links with various systems, and has been promoted to all file management in the company.

For example, some data storage and adjustment of financing bonds and the storage and adjustment of all contract systems, as well as the design storage and adjustment of real estate development drawings and so on.

The self-developed image system integrates the current OCR system, which is widely used in the country. The system supports invoice identification and verification, improves the efficiency of document examination, and supports intelligent scanning and archiving to realize the integrated process of signing, scanning and archiving. Support image storage, signing, scanning, archiving, query, access to image functions.

In the supply chain system launched the electronic signature, electronic contract, electronic invoice, electronic depository and electronic receipt, has bid farewell to the paper office, the operation process is electronic.

④ Application of RPA technology: PRA is mainly used in scenarios where it is difficult to get through or get through but there is a time difference in data transmission, including bank statement and verification of accounts, tax receipt authentication and tax declaration. Data transmission is completed through different application scenarios, as well as proofreading and manual work.

⑤ Bill electronic: the invoice required by the customer can be applied through the Better purchase program, through this electronic system, the two sides of the B TO B invoice can be confirmed and applied and one-click invoicing, and finally through the follow-up integration with the national value-added tax system.

Since 2019, when the State Administration of Taxation changed the scanning authentication of tax receipts to tick authentication, at the end of the year, RPA will be used to replace manual login in the tax system to check, releasing some manual labor.

7. Share organizational structure

BBK Financial shared Service center established a huge customer service center at the end of 2014, and enabled 360 telephone. However, with the gradual maturity of the sharing center, since January 2019, the original customer service center independent of all groups has been cancelled, and the customer service staff and customer service work to be completed have been transferred to the corresponding group. For example, the supplier is mainly responsible for the settlement group, which effectively saves manpower and responds in a more timely manner. At the same time, the wechat mini program is enabled to carry out real-time reply services.

In terms of accounting management, BBK Financial Sharing Service Center has started to standardize, process and centralized management since 2014, unify accounting caliber and accounting subjects, realize data resource sharing, ensure timeliness and authenticity of financial data, and reduce duplication and waste through process reorganization and reengineering, ensure simplicity and efficiency, make accounting centralized, and promote scale development. Create new ways to reduce operating costs.

8. Innovation achievements of financial sharing service center

Through the organic combination of technological innovation and management innovation, so far BBK Financial sharing Center has the following innovative achievements:

Accounting for changes in the number of stores: Since the establishment of the financial sharing service center in 2013, the accounting stores have increased by 80% and 303 stores have been added by April 2020.

Accounting financial changes: accounting staff savings of 370 people, down 77%.

Change of financial timeliness: From the original closing of accounts & financial statements from the 8th of each month to the current 1st of each month issued at 6pm. The original payment cycle is 3-5 days, or even a week, now the system supports T+1 payment mode, the shortest time from creation to payment is 3h26m, and the efficiency has been greatly improved.

9, behind-the-scenes "accounting Mr." transformation "standing at the decision-making level of management accounting"

Financial personnel also from the original accounting finance or "accounting Mr.", in the gradual transformation, began to approach the business chain, and business personnel stand together at the management level to make decisions. For example: financial personnel in charge of contracts, procurement matters, overall budget, tax, banking and investor relations transition, freed from heavy accounting work, grow into management finance, management accounting.