New Oriental's Orient Selection has been a firebrand with its "bilingual live sales", and its GMV continues to soar, making New Oriental Online's stock price soar 10 times in a month.

In the midst of the industry winter, New Oriental's business is actively transforming, exploring new directions in e-commerce and finding new ways out. In the process of the group's business innovation, the finance department is also actively transforming its finance digitalization to ensure the smooth development of new business.

With the onslaught of the digital economy wave, there are unprecedented variables and challenges for enterprises. With smarter enterprise management and greater space for development, digital transformation has become a necessary path for the development of enterprises in various industries.

In order to reduce costs and increase efficiency and promote the group's financial digital transformation, New Oriental has joined hands with Baiwang.com to build a financial sharing center, strengthen the financial business connection between the group and the city, promote the integration of business finance and taxation, and empower the business to make a gorgeous turnaround.

New Oriental Education and Technology Group is located in the core of comprehensive student growth. It is a comprehensive education group driven by science and technology, and has created many famous education brands such as New Oriental Student Growth Center, New Oriental International Education, New Oriental Student Learning and Development Center, New Oriental Online (Oriental Selection), New Oriental Future Abroad, New Oriental International Study Tour, New Oriental Full Star, New Oriental Dayu Culture, New Oriental International Bilingual School and so on.

By the end of June, the fans of Oriental Selection's live broadcast exceeded 20 million, and the average daily sales exceeded 50 million RMB. Behind the burst of popularity, it is also inseparable from the support of the finance department. On the one hand, it is to solve the problem of inefficient processing of basic financial data at the technical level, such as changing from manual invoicing to automatic invoicing. On the other hand, after the business scale of Oriental Selection is made up, it becomes more critical to strictly control the financial compliance risk.

At the same time, in the context of the digitalization environment and the continuous release of new policies by national ministries and commissions, New Oriental's finance department took active actions to respond and respond to the group's requirements of standardization, process and systematization to reduce costs and increase efficiency, control financial risks and promote the group's financial digital transformation.

Therefore, New Oriental decided to cooperate with Baiwang.com to start the process of establishing a financial sharing center, so that finance can penetrate into all aspects of the whole value chain of the enterprise and strengthen the strategic support to the group.

In response to the business pain points of New Oriental, Baiwang.com provides a complete set of financial and taxation solutions to help New Oriental build a financial sharing center. The invoice management system of Baiwang.com can connect with multiple systems such as New Oriental's electronic reporting system, electronic imaging system and electronic file system, breaking the barrier between finance and business, interoperating information with each other, and realizing the closed-loop invoice management of the whole life cycle of invoice collection, delivery, checking and certification.

Thereby, it helps New Oriental integrate financial processes and systems in each city end, establish unified standards, centralize most of the basic financial processing work in the financial sharing center, reduce operating costs, improve financial processing efficiency, and give local finance time to go deeper into business and transform financial BP, and the group can do better management in a more systematic way.

For enterprises, digital transformation has been a major trend of industrial change, and the business management model has changed accordingly, while financial management is the core content of business operation. Financial shared services are the financial management innovation of enterprises to adapt to the external environment of digitalization. It centralizes decentralized financial processing to an integrated platform, which improves financial efficiency, reduces operating costs, controls financial risks, and also strengthens the group's ability to collaborate and control city finances, forming the core competitiveness of the enterprise in the market.

As a SaaS service provider for industrial Internet, Baiwang.com takes invoice digitization as its entry point. With the mission of "linking business enterprises and making transactions simpler", it provides digital solutions and services such as intelligent invoice management, intelligent tax services, digital financial supply chain and data technology services for governments, enterprises and public organizations. Create digital capabilities for enterprises. Empower business transformation and upgrade with financial innovation management, and build a new ecology of business finance and tax integration. Let enterprises seek new development in the wave of digitalization.