The Digital Transformation Pioneer - SAP Concur Helps TCL Accelerate Digital Transformation
TCL Wins Two Heavyweight Awards at the 2020 Ding Ge Award
November 2, 2020 - The “Ding Ge - 2020 Enterprise Digital Transformation Awards" were recently announced in Beijing, a list jointly released by Harvard Business Review, Tsinghua IGI and SAP, a world-renowned enterprise application software service provider. With the support of SAP Concur’s Intelligent Expense Management Solutions, TCL (TCL Industrial Holdings Co., Ltd) has been named the "2020 Enterprise Digital Transformation Function Pioneer of the Year" for its international finance transformation and expense control project. Catrina Yang, Deputy Director of Financial Department of TCL Smart Device Business Group and Chief Financial Officer of IFS Financial Reform, was also honored with the “2020 Enterprise Digital Transformation Function Leaders Award".
Under the theme "Great Changes and Reconstruction", the Ding Ge - 2020 Enterprise Digital Transformation Awards invited digital transformation experts and scholars from industry, academia, research, and the media to serve as judges. The event was curated based on selections from more than 300 registered enterprises and on-site visits to more than 50 enterprises, seeking out new best practices in digital transformation in the context of the digital revolution and post-pandemic. In addition, it provided references and guidance for enterprises in the middle of their transformation and innovation journey, serving as a beacon for more Chinese enterprises in digital transformation.
TCL, as a pioneer in going global, has now accumulated more than 20 years of experience in overseas development. Its rapid expansion overseas has driven a high demand for its digital intelligence assets. TCL needed a digital operational strategy to excel in the field, and a digital financial management system to maintain rigorous budget control. This would enhance the entire financing process, from risk management to control, through smart technologies. By building a data-driven intelligent analytical platform, TCL aims to achieve cross-regional data interoperability to improve its "AI x IoT" dual-pioneering capabilities, and to further empower its global market operations management.
With the support of SAP Concur, TCL's financial management staff can manage all the nodes in the same system online and assess the budget-allocation rationality in the system in advance. It ensures that certain expenses are requested before reimbursement, and creates a standardized budget-management system. The Concur system also provides TCL with compliant expense recommendations based on each region, strengthening its risk-management capability. After deployment, the automated, full-process management can avoid manual errors, and truly realizes strong internal and external compliance-control. Furthermore, SAP Concur's business intelligent analysis drives TCL's brilliant performance with accuracy and real-time data. SAP Concur in-depth discovers the power of data to help financial managers control expenses from both the finance and strategic perspectives to formulate scientific-management strategies, either regarding its internal expenses and reimbursements or budget management.
Catrina Yang, Deputy Director of Financial Department of TCL Smart Device Business Group and Chief Financial Officer of IFS Financial Reform said "TCL, a transformed technology enterprise, is growing from a follower to a leader of the future. Regarding future financial strategies, we are seeking budget accuracy, intelligent services, business operations and financial management integration, developing a complete smart ecosystem. TCL and SAP Concur are creating brilliance with technology so that we can enjoy the smart life."
Digital transformation is the only way for Chinese enterprises to reshape their growth in the post-pandemic era. SAP Concur has been developing in the Chinese market extensively for more than 27 years, and has always committed to supporting enterprises to streamline and automate their financial processes through intelligent expense management solutions, aiming to help them achieve operational excellence. In the future, SAP Concur will continue in its commitment to provide professional solutions and a vast partner ecosystem. It aims to help more Chinese enterprises such as TCL to improve their intelligence capabilities, accelerate financial digitalization, and ultimately achieve a comprehensive digital transformation. While responding to the digital revolution with flexibility, SAP Concur is leading the industry to help enterprises achieve smart operations.
About SAP Concur
SAP® Concur® is the world's leading brand of integrated solutions for business travel management, expense reimbursement, and business-to-business payments, and we are committed to simplifying and automating these processes. The award-winning SAP Concur mobile application makes every business trip easy, syncs data to expense reports, and automatically approves business payments. By consolidating almost real-time data and auditing 100% of transactions with artificial intelligence, companies can receive accurate information on expenses without concerning about budgetary blind spots. The SAP Concur solution eliminates previous tedious tasks, simplifies work-flow, and helps companies achieve operational excellence. Visit concur.cn to learn more.