In the process of digital transformation, everyone has always been more concerned about what technological innovations are, and how can I quickly use them? But they often ignore deeper questions, such as: "What are the value benefits" of digital transformation, "How can my company obtain it", and does my system support "value delivery"?
Recently, the Ministry of Finance officially issued the "Interim Regulations on Accounting Treatment Related to Enterprise Data Resources" (hereinafter referred to as "Interim Regulations"), which clearly stated: "Data will be included in accounting statements as assets"! It can be said that this new regulation will The value and benefit of digital transformation that enterprises are most concerned about is "moving from the virtual to the real", which further highlights the value of data.
This new policy will come into effect on January 1, 2024. For enterprises, the next four months to consider is, "how to obtain" my enterprise, and whether my system can support "data value transfer".
Through its experience in serving a large number of enterprises, Baiwang Cloud believes that during this critical time window, enterprises need to make three preparations: consolidate data infrastructure, open up full-service systems, "realize" data assets through internal/external cooperation, and increase Strengthen corporate assets, truly integrate data value demands throughout the entire process of digital transformation, help companies save expenses, increase revenue, and support business innovation and long-term development.
Tickets and documents are the cornerstone digital ticket upgrades to open up a fast path
The "Relevant Person in Charge of the Accounting Department of the Ministry of Finance Answers Journalists' Questions on Printing and Distributing the Interim Provisions on Accounting Treatment of Enterprise Data Resources" specifies the scope of application of the Interim Provisions, applicable standards, and listing and disclosure requirements.
One is the scope of application. It is clarified that the "Interim Provisions" apply to the relevant accounting treatment of data resources that comply with the provisions of the Accounting Standards for Business Enterprises and can be recognized as relevant assets, as well as data resources that do not meet the asset recognition conditions and are not recognized. Follow-up adjustments can be made in a timely manner with the development of theories and practices related to data resources in the future.
The second is the applicable standards for accounting treatment of data resources. According to the way of realizing economic benefits in accounting, and according to different business models such as enterprise use, external service provision, and daily holding for sale, the specific standards applicable to relevant accounting treatments are clarified. At the same time, some key issues reflected in practice are combined with data resources. The actual situation of business and other matters shall be detailed.
The third is presentation and disclosure requirements. Enterprises are required to add reporting sub-items based on the principle of importance and in light of actual conditions, and disclose in detail through tables, and stipulate the application scenarios in which enterprises can voluntarily disclose data resources (including data resources that have not been recognized as intangible assets or inventories) based on actual conditions Or business model, source of original data type, processing maintenance and security protection, major transactions involved, relevant rights invalidation and restriction, etc., to guide enterprises to actively strengthen information disclosure related to data resources.
It can be seen that if you really want to include data assets in financial statements, companies need to first clarify what their "data assets" are, as well as the corresponding application scenarios or business models, and then prepare for them according to their use, external services, and daily skills. According to different business models such as sales, corresponding accounting treatment should be carried out.
This is a huge and complex task with many threads and requires overall planning and layout. Based on its own service experience, Baiwang Cloud believes that there are tens of thousands of digital items, but digital tickets are the foundation of an enterprise's digital upgrade.
Since the launch of the Golden Fourth project, the pilot program of counting electric bills has been promoted nationwide, and the traditional idea of "governing taxes by bills" is changing to "governing taxes by numbers", which means that management agencies have the ability to grasp comprehensive economic activity data, and if enterprises If digitalization is not advanced in a timely manner and the internal management capabilities of enterprises are backward, it will bring challenges to corporate compliance and risk management, let alone let data create value.
Based on the relevant requirements for upgrading digital bills, Baiwang Cloud has launched a compliance management solution for electronic bills, which can help enterprises realize the digital management of the entire life cycle of electronic bills, assist enterprises in improving operational efficiency, reducing transaction costs, and achieving compliance control.
For enterprises that have already started electronic bills, they should pay attention to the application of electronic bills in the whole process of the enterprise, through expenditure scenario control, bill collection and management, expense reimbursement and control, centralized payment and entry, accounting file management to intelligent tax payment The full-process intelligent fiscal and tax solution for declaration helps enterprises to manage efficiently and improve operational efficiency.
Since its establishment, Baiwang Cloud has provided services to many large enterprise groups such as PetroChina, Industrial and Commercial Bank of China, COSCO Shipping, CNNC, and Ping An of China. Its customers cover finance and insurance, Internet, transportation, production, etc. Manufacturing, chain retail and telecommunications industries. At the same time, Baiwang Cloud is providing cloud financial and taxation digital solutions to an increasing number of medium-sized enterprise customers and more than 17 million free enterprise users, covering multiple industries such as retail, catering, education, cosmetics, tourism and lifestyle. It was rated as "No. 1 in the digitization market of China's fiscal and tax related transactions" by Frost & Sullivan.
Taking group customers as an example, usually the project cycle is long, the applications are complex, many related companies are involved, and the usage scenarios are broad. In this process, Baiwang Cloud has gained in-depth insights into the application scenarios of different industries and accumulated rich project operation experience. This kind of experience is something that no one else has, which provides a solid practical space for Baiwang Cloud to provide customers with more in-depth scenario services based on invoice digitization.
Digital and real integration enhances traditional kinetic energy and pursues sustainable development
According to the previously released "Digital Transformation Index Report 2023", after several years of accelerated development, China's digital transformation has gradually entered a period of stable development. my country's digital transformation has maintained growth as a whole, and at the same time, the growth rate has shown a trend of high and low. The national digital transformation index increased by 8.2% month-on-month in the first quarter of 2022, and the month-on-month growth rate dropped to 1.1% in the first quarter of 2023, reflecting the national production and life after the epidemic. A new balance between online and offline is being formed, and digital transformation is facing the pressure of slowing growth.
In terms of the mutual influence between digitalization and future industries, the "Digital Transformation Index Report 2023" believes that the development of digital infrastructure and digital platforms has the strongest correlation with the future industry development index and can play a role in future industry investment and development. The key intermediary role is that the more investment in future industries, the more digital infrastructure and digital platforms will be built and applied, and the more companies in future industries will be.
Baiwangyun is deeply touched by this. In recent years, the country has been promoting the integration of digital and real economies. It hopes that the digital economy and the real economy will be integrated and developed, and digitalization will be applied, penetrated and reshaped into the non-digital real economy, so that the digital economy can empower the real economy. Economy, the two achieve mutually reinforcing development.
There are two cores here, one is to tap kinetic energy, and the other is to endow the old with innovation. The release of the "Interim Regulations" perfectly integrates these two core needs.
Take this article of the "Interim Provisions" as an example: An enterprise obtains data resources recognized as intangible assets through outsourcing, and its costs include the purchase price, relevant taxes, and expenses directly attributable to making the intangible assets achieve its intended use. Relevant expenditures incurred in the processing of data labeling, integration, analysis, visualization, etc.
You must know that in the past, during the development process of "Internet + Industry" and "Digitalization + Industry", for physical enterprises, it was time-consuming and labor-intensive to build their own digital systems because they did not have the relevant genes, while for Internet enterprises, it was also time-consuming and labor-intensive to build their own digital systems. Because there is no relevant industry data or specific usage scenarios, its solutions often feel "scratch in the boots" and it is difficult to point directly to the core.
The "Interim Regulations" not only support enterprises to use internal data as intangible assets, but also support the inclusion of data resources purchased by enterprises that can be recognized as intangible assets into financial statements under the condition of compliance with accounting standards. This is a double benefit for digital service providers and physical enterprises, enabling data assets to be transferred between different business entities, empowering old innovations, and promoting healthy and sustainable development of enterprises.
Of course, for enterprises, data is the core asset, and it must be safe and compliant during use.
As a technological innovation unicorn enterprise, Baiwang Cloud attaches great importance to independent research and development and technical system construction, and continues to invest in research and development of key technologies such as digital certificates, digital signatures, OFD, big data analysis, artificial intelligence and blockchain. The digital business platform satisfies the easy access of massive enterprises, high-speed interaction of multi-service flow information, non-destructive conversion of multi-form electronic data, and assists enterprises to improve operational efficiency, save costs and comply with regulations. Through multi-party secure computing, trusted execution environment and other privacy computing technologies, a three-dimensional full-stack protection system covering the national secret security device layer, secure network layer, blockchain capability platform layer, and secure computing layer is built to ensure that panoramic data is available. It can be seen that it can help enterprises optimize risk control strategies, improve the ability to independently monitor, detect and manage risks, and provide customers with security service guarantees throughout the life cycle.
For this reason, Baiwang Cloud has successively been awarded the title of "China Unicorn Enterprise" by the Torch Center of the Ministry of Science and Technology, the "No. " and many other industry heavyweight awards, and is recognized as an industry leader in corporate users and the mass market.
The Ministry of Industry and Information Technology’s “14th Five-Year Plan for the In-depth Integration of Informatization and Industrialization Development Plan” has made it clear: By 2025, informatization and industrialization will achieve integrated development on a broader, deeper, and higher level, and a new generation of information technology will be integrated into the manufacturing industry. Penetration has accelerated in all fields, and the pace of digital transformation in the manufacturing industry has accelerated significantly. The national integrated development index of informatization and informatization has reached 105, the digital penetration rate of enterprise operation and management has reached 80%, the penetration rate of digital R&D and design tools has reached 85%, and the numerical control rate of key processes has reached 68%. , the penetration rate of industrial Internet platforms reaches 45%.
For enterprises, this is a rare period of historical opportunity and an important time window for development. When enterprises face numerous choices, the opportunity cost is very high, and the cost of trial and error is also very high.
Baiwang Cloud hopes that its experience in serving tens of millions of enterprises can provide you with richer ideas and more possibilities, help leading enterprises to accelerate innovation, lead the needs of change, quickly realize digital upgrades, and drive the supply chain of the industrial chain at the same time Upstream and downstream enterprises improve the overall economic efficiency of the society and enhance the core competitiveness of the industry.
On September 6, at the China International Fair for Trade in Services, Baiwang Cloud will also release Copilot, an industry finance and tax integration, to empower enterprises with digital transformation with innovative technologies, so stay tuned!
