State Grid Xinjiang Information & Telecommunication Company: Achieving Online Lean Control of Engineering Finance

URUMQI, China, March 21, 2025 /PRNewswire/ -- Recently, the State Grid Xinjiang Information & Telecommunication Company has successfully completed the development of a final account report management system. This initiative focuses on annual financial priorities, tightly integrates material, engineering, and asset chains, and strengthens the lean control of engineering assets.

In terms of business promotion, the entire project finance process is now fully systematized, connecting projects from completion and operation through settlement to final accounts. By leveraging online management and data flow, the traditional mode of passively receiving offline financial settlement data for final accounts has been transformed into an online platform that provides real-time visibility into project completion and operational materials. This significantly enhances the timeliness of cost collection, settlement, and final accounts.

Regarding functional implementation, the system has established seamless integration with both the project construction management system and the ERP system. It enables automatic acquisition of project construction milestone node information, automatic association of asset transfer cards, and automatic push notifications for critical documents such as completion reports, production transfer notices, equipment inventories, and settlement reports. These features allow financial personnel to promptly access important node information, enabling them to monitor in real time the provisional assessment transfer, settlement, and final account transfer processes, thereby promoting timely business-finance alignment.

In terms of application effectiveness, the settlement and final account reports, along with the split management of capital transfer assets, play a crucial role in overall production and operations. Through comprehensive project financial control, financial personnel can ensure timely handover of settlement data after project completion and commissioning, prevent delays in final account transfers, and guarantee reasonable splitting of transferred assets. This drives synergy among project completion, settlement, and final accounts, enhancing overall efficiency.

Moving forward, the State Grid Xinjiang Information & Telecommunication Company will continue to collaborate closely with various units to refine system functionality, streamline data flows across all links, further optimize statistical statements covering the entire project lifecycle, and maintain real-time oversight of overall project progress. These efforts aim to improve the efficiency of project final accounts and capital transfers.