Mingmei New Energy at a Glance:
Founded in 1998, Mingmei New Energy is a high-tech leader in customized lithium-ion battery solutions. With over 2,500 employees worldwide and six R&D centers spanning China, Japan, South Korea, Europe, and the United States, Mingmei is at the forefront of global energy innovation.
Since 2003, the company has adopted advanced ERP and CRM systems to unify operational and financial processes, enabling data-driven decisions and optimizing the value chain. However, as Mingmei accelerated its global expansion, increasing organizational complexity began to reveal critical gaps in its financial consolidation processes, posing a significant challenge to long-term scalability and governance.
Founded in 1998, Mingmei New Energy is a high-tech leader in customized lithium-ion battery solutions. With over 2,500 employees worldwide and six R&D centers spanning China, Japan, South Korea, Europe, and the United States, Mingmei is at the forefront of global energy innovation.
Since 2003, the company has adopted advanced ERP and CRM systems to unify operational and financial processes, enabling data-driven decisions and optimizing the value chain. However, as Mingmei accelerated its global expansion, increasing organizational complexity began to reveal critical gaps in its financial consolidation processes, posing a significant challenge to long-term scalability and governance.
Strategic Imperative for Change
“Legacy budgeting systems no longer align with precision management demands. System modernization is imperative. EVOX emerges as the definitive platform to elevate budgeting efficiency, adapt dynamically to business shifts, and empower leaders with actionable insights.”
Operational Challenges:
• Fragmented Data Ecosystems: Disparate master data across front-end systems hindered unified data extraction and seamless reconciliation.
• Inconsistent Financial Practices: Varied currency standards, unclear ledger configurations, and mismatched accounting methodologies undermined reporting accuracy.
• Manual Reconciliation Bottlenecks: Limited visibility into intercompany transactions and unresolved balance discrepancies led to delays in the consolidation process.
• Complex Elimination Workflows: Struggles with equity, inventory, and internal transaction eliminations due to unstructured data flows.
• Limited Analytical Granularity: Inability to segment data by sales teams, regions, or facilities restricted actionable insights and constrained strategic planning.
EVOX Consolidation: A Strategic Leap Toward Financial Excellence
Following a comprehensive evaluation of performance, scalability, and user experience, Mingmei selected EVOX as its trusted partner to implement EVOX Consolidation, a purpose-built solution designed to modernize financial governance, streamline core processes, and empower enterprise-wide agility at scale.
Key Deliverables:
1. Unified Data Orchestration: Seamlessly integrates data from diverse sources, both automated feeds and manual inputs, bridging silos across ERP, CRM, and other systems
2. Intelligent Reconciliation Engine: A configurable, multi-dimensional matching engine detects and visualizes transactional discrepancies in real time, accelerating financial accuracy
3. Automated Elimination Logic: Rule-based automation streamlines complex equity, intercompany, and inventory adjustments, with flexible override capabilities for full control
4. Granular Analytics Framework: Multi-layered data segmentation powers dynamic management reports across sales, regions, and production units
5. Role-Based Governance: Precision access controls and task-driven workflows ensure secure collaboration, regulatory compliance, and audit-readiness at scale.
Measurable Value Realized
• 40% Faster Consolidation Cycles: Automated workflows reduced manual interventions, accelerating month-end closes.
• 95%+ Data Accuracy: Standardized accounting rules and elimination logic enhanced reporting integrity.
• 360° Transaction Visibility: Real-time intercompany transparency eliminated reconciliation delays.
• Scalable Decision Intelligence: On-demand analytics empowered cross-functional resource optimization
Conclusion
By integrated EVOX Consolidation into its financial backbone, Mingmei New Energy has moved beyond legacy limitations to establish a unified, future-ready consolidation reporting ecosystem. This transformation not only resolves immediate inefficiencies but also positions Mingmei as a data-centric leader in the global energy transition, demonstrating that agility, precision, and strategic foresight are essential catalysts for sustainable growth in a dynamic world.
Why Industry Leaders Choose EVOX
EVOX empowers organizations to lead with confidence, scale with speed, and innovate with resilience:
• Proven at Scale: Over 500 successful deployments across 20+ industries, e.g., retail, manufacturing, pharmaceutical, banking & finance, auto, service sectors, etc.
• Future-Proof Architecture: Cloud-agnostic deployment supports hybrid and multi-cloud environments, aligns with organizations’ evolving IT strategies
• Investor-Validated Excellence: Backed by IDG Capital, Sequoia China, and other leading global investors with over $60M in total funding, underscoring our long-term commitment to innovation and customer success
EVOX empowers organizations to lead with confidence, scale with speed, and innovate with resilience:
• Proven at Scale: Over 500 successful deployments across 20+ industries, e.g., retail, manufacturing, pharmaceutical, banking & finance, auto, service sectors, etc.
• Future-Proof Architecture: Cloud-agnostic deployment supports hybrid and multi-cloud environments, aligns with organizations’ evolving IT strategies
• Investor-Validated Excellence: Backed by IDG Capital, Sequoia China, and other leading global investors with over $60M in total funding, underscoring our long-term commitment to innovation and customer success
About EVOX
EVOX (owned by Espero Technology Pte. Ltd.) is the AI-powered Enterprise Performance Management platform, designed to seamlessly connect Data, Business Scenarios, and People to evolve organizations toward excellence. EVOX platform is featuring EVOX Budgeting & Planning, EVOX Consolidation, and EVOX SPM, empowers enterprises to:
• Reduce monthly close cycles by over 40%
• Elevate forecasting accuracy by over 95% confidence levels
• Achieve 100% audit-compliant financial consolidation
Headquartered in Singapore with worldwide business coverage, EVOX continues to redefine EPM for organizations.
EVOX (owned by Espero Technology Pte. Ltd.) is the AI-powered Enterprise Performance Management platform, designed to seamlessly connect Data, Business Scenarios, and People to evolve organizations toward excellence. EVOX platform is featuring EVOX Budgeting & Planning, EVOX Consolidation, and EVOX SPM, empowers enterprises to:
• Reduce monthly close cycles by over 40%
• Elevate forecasting accuracy by over 95% confidence levels
• Achieve 100% audit-compliant financial consolidation
Headquartered in Singapore with worldwide business coverage, EVOX continues to redefine EPM for organizations.