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HPFS help you overcome the differences between US GAAP/ IFRS and PRC GAAP and apply Approval Certificate from the local financial bureau.
HPFS is an application software developed for multinational corporations in China. Combined with a foreign ERP system or accounting software, HPFS automates the financial localization process, allowing its users to meet the local financial requirements, produce reports for internal and external purposes, and operate in a scenario of absolute efficiency.
HPFS is specifically designed for any multinational corporation that adopts a foreign ERP system or accounting software. Indeed, it is particularly suitable for companies aiming to:
- Fully comply with local and national requirements and produce the statutory set of financial reports
- Generate the Golden Audit data* which is indispensable to receive the Approval Certificate from a local finance bureau and legally use a foreign ERP system or accounting software in China
- Reduce the resources invested in the financial localization process
- Maximize the accuracy of the local financial information
As a third party software, HPFS works as a bridge between the foreign financial information produced by global ERP systems or accounting software and the local reporting based on China’s principles and rules. Its user-friendly interface allows users to easily elaborate statutory and customized reports.