Proceedings of the 4th International Conference on Economic Management and Model Engineering, ICEMME 2022, November 18-20, 2022, Nanjing, China

Research Article

Benefits of Cost Management Automation at China Vanke Co., Ltd.

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  • @INPROCEEDINGS{10.4108/eai.18-11-2022.2326833,
        author={Xiaohua  Zhao and Yuliana  Solovieva},
        title={Benefits of Cost Management Automation at China Vanke Co., Ltd.},
        proceedings={Proceedings of the 4th International Conference on Economic Management and Model Engineering, ICEMME 2022, November 18-20, 2022, Nanjing, China},
        publisher={EAI},
        proceedings_a={ICEMME},
        year={2023},
        month={2},
        keywords={information technology construction company finance management financial management costs cost management efficiency},
        doi={10.4108/eai.18-11-2022.2326833}
    }
    
  • Xiaohua Zhao
    Yuliana Solovieva
    Year: 2023
    Benefits of Cost Management Automation at China Vanke Co., Ltd.
    ICEMME
    EAI
    DOI: 10.4108/eai.18-11-2022.2326833
Xiaohua Zhao1,*, Yuliana Solovieva2
  • 1: Department of National Economy, Peoples' Friendship University of Russia (RUDN) Moscow, Russia
  • 2: Associate professor, Department of National Economy, Peoples' Friendship University of Russia (RUDN) Moscow, Russia
*Contact email: 1032208798@pfur.ru

Abstract

Today, many Chinese construction companies make extensive use of the information base. In China, the problem of creating automated information management systems is especially acute. The country's economy is growing rapidly, so it is necessary to introduce information technologies for the development of business processes. Studies have shown that in modern conditions the effectiveness of informatization is determined by the quality of information links, the level of communication of various participants in the communication process, in connection with the penetration of informatization into all areas of business. In conditions of increased demand for information resources, great importance is attached to the development and design of corporate information systems serving the financial departments of construction corporations. The purpose of the article is to analyze the Chinese construction company China Vanke Co., Ltd. and evaluate the effectiveness of financial management using information technology, identify the main problems of financial management and give recommendations for their management.