Ansteel Group: Centralized Accounting System

Introduction

Ansteel was originated from merger and reorganization of Anshan Iron and Steel Group Corporation and Pangang Group Co.，Ltd. in May 2010. Anshan Iron and Steel Group Corporation was the first restored large-sized steel maker of the New China and the earliest built steel production base and made great contributions to national economic construction and the development of steel course. Therefore it was known as the “Cradle of Steel Industry of New China” and the “Eldest Son of Steel Industry of the Republic” ; Pangang Group Co.,Ltd. is the largest vanadium manufacturer in the world, the largest titanium raw material and important titanium dioxide production base in China. In 2011, Ansteel Group Corporation ranked among Fortune 500 Largest Global Corporations.

Background

Establish a group unified accounting system to unify the financial accounting systems of all units in Anshan that have not realized the integration of industry and finance and have not used the SAP accounting system.

Solution

i. Improved the level of financial management by optimizing financial resources and standardizing financial accounting.

ii. Through the establishment of a unified platform, the accounting system and business system have been opened up, and the integration of industry and finance has been realized.