TCL’s global expansion that spans over 20 years has driven the company to accelerate its digital finance transformation, which includes embracing intelligent technologies such as the SAP Concur expense management system to maintain stringent budget control.
TCL Industrial Holdings Co., Ltd., TCL Corporation’s arm that focuses on intelligent terminal products and services, was recently named the “2020 Enterprise Digital Transformation Function Pioneer of the Year” in the “Ding Ge – 2020 Enterprise Digital Transformation Awards” for its international finance transformation and expense control project, leveraging SAP Concur’s Intelligent Expense Management Solutions. SAP, Harvard Business Review, and Tsinghua IGI jointly released the list of awardees during the event held in Beijing.
Catrina Yang, Deputy Director of Financial Department of TCL Smart Device Business Group and Chief Financial Officer of IFS Financial Reform, was also the recipient of the “2020 Enterprise Digital Transformation Function Leaders Award”. She 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.”
Embracing Digital Finance Transformation
As a growing global company, TCL implemented a digital operational strategy and finance transformation utilising smart technologies to enhance the entire financing process, from risk management to control. The company’s key objective is to achieve cross-regional data interoperability to improve its “AI x IoT” dual-pioneering capabilities and further empower its global market operations management through a data-driven intelligent analytical platform.
SAP Concur expense management system and solutions empowered TCL by:
- Enabling the financial management staff all the nodes in the same system online and assess the budget-allocation rationality in the system in advance
- Ensuring that certain expenses are requested before reimbursement, and creates a standardized budget-management system
- Strengthening TCL’s risk-management capabilities by providing compliant expense recommendations based on each region
- Eliminating manual errors and truly realises strong internal and external compliance-control
- Driving performance with accuracy and real-time data with business intelligent analysis
- Allowing financial managers to control expenses from both the finance and strategic perspectives and formulate scientific-management strategies, either regarding its internal expenses and reimbursements or budget management.
Enabling the Chinese Market
The Ding Ge – 2020 Enterprise Digital Transformation Awards’, with the theme of “Great Changes and Reconstruction”, invited judges who are digital transformation experts and scholars from industry, academia, research, and the media. There were over 300 enterprises registered and 50 on-site visits conducted during the selection process.
Aside from discovering new best practices in digital transformation in the context of the digital revolution and the post-pandemic era, the event also provided Chinese enterprises references and guidance as they navigate digital transformation and innovation journey.
For over 27 years now, SAP Concur has been empowering Chinese enterprises to streamline and automate their financial processes through intelligent solutions. In 2019, SAP Concur has launched a new development centre in Shanghai to strengthen and build integrated spend management solutions specific to the Chinese market.
SAP Concur continues its commitment to enable the Chinese enterprises’ digitalisation by improving their intelligence capabilities and accelerating finance transformation through a portfolio of professional solutions and a vast partner ecosystem.
