In an era with rapid technological changes, constructions of information in commercial banks has gone through many changes in the course the decade and financial systems has undergone several upgrades and financial management is now faced with new challenges, which puts forward higher requirements on the financial system.
Sunline always put forth the right technologies to empower our customers in the financial industry. In this case, we help banks achieve process orientation, automation and ultimately realizing an intelligent financial management system. In the past two years, Sunline has helped Ping An Bank, Guangfa Bank, Hua Xia Bank, Rural Credit Bank Fund Clearing Center, Harbin Bank and Chaoyang Bank to establish the new generation intelligent financial management systems.
Sunline builds a new generation intelligent financial management system for China Guangfa Bank
After many in-depth exchanges, strict POCs and tendering processes, Guangfa Bank decided to adopt Sunline’s Intelligent Financial Management System for their financial management platform. The teams of both parties worked closely and successfully completed the construction of the technical version in less than two months and began pilot testing in the head office and three branches. In January 2020, the system has been used in the entire bank organization.
Guangfa Bank’s original financial system faced the following pain points:
• Business staffs: Bothered by trivial matters such as booking air tickets and hotel reservations; complicated reimbursement and filling operations; insufficient system usability and convenience.
• Financial staffs: There are many audit points, but the degree of automation is not high; financial work is highly repetitive and easily cause burnout. Some of the reimbursement business of the audit inspection branch still require manual accounts.
• Management staffs: Insufficient refinement of financial analysis and insufficient support for management accounting.
Guangfa Bank New Generation Financial System customized more than 20 business documents through dynamic form configuration tools, customized dozens of business processes through the workflow engine and integrated more than 30 application systems to achieve a forward-thinking financial accounting platform：
• Support intelligent OCR bill identification, automatic order filling and automatic invoice verification. Flexible, convenient and seamlessly connect with a diversity of business travel procurement solutions
• Built-in intelligent audit engine to implement rule-based active risk interception
• Integrated multi-channel billing method to support mobile office, improve work efficiency and improve user experiences
• Create a concise and efficient intelligent process that provides the efficiency advantages of centralized sharing operations
• Consolidate the foundation of big data management to realize closed-loop management for business and financial data. The system automatically integrates with Sunline’s General Ledger, Management Accounting and Financial Marketplace, which greatly improves the level of business management and operation analysis
It is imperative to establish an intelligent financial management system
Financial workforces are meant to help banks create value in management and operation efficiency rather than being trapped in trivial but massive accounting and data work. In order to achieve the ideal efficiency, current duties of financial workforces must be changed, and financial management must undergo transformation.
Sunline’s Intelligent Financial Management System enhances business insight from a financial perspective by making processes more efficient and making decisions with vision. In this process, it will also help the financial workforce to rediscovery their self-worth:
• Financial staffs will be dedicated to improving service quality and increasing speed of response
• Using data to help them discover loopholes and risks in the process
• Ensure the action plan achieves the stated business objectives
• Use rich indicators, information and tools to predict and report business results and influence business strategies
Sunline’s intelligent technology redefines financial management of financial institutions
Sunline’s Intelligent Financial Management System can better meet the financial management and control needs of financial institutions:
• Enable the control of front-end approval, booking and payment travel reimbursements of all employees
• Realize the integration of online and offline approval of mobile terminals
• Enable full process coverage of budget management, procurement management, contract management, leased asset management and equity management
• Enable follow-up management and risk control early warning functions
• Enable automation, flow, refinement and control of financial accounting
• Realize the transition and improvement from accounting finance to management finance to strategic finance
Highlight #1: Intelligent service means personalization of document process
Sunline Intelligent Financial Management System has introduced many revolutionary innovative elements such as mobility, socialization, automation, intelligence and big data which can comprehensively improve the financial management and execution of financial institutions.
Highlight #2: People-centric intelligent expense reimbursement platform
From Ping An Bank's financial systems to the many systems of small and medium-sized banks, we can see that full expense reimbursement is a key requirement for the financial system upgrade this round. Sunline Intelligent Financial Management System integrates with advanced technology to provide customers with integrated expense reimbursement solutions and comprehensively simplify the entire reimbursement process.
• Reimbursement: Mobile, self-service reimbursement needs are met, better understanding of reimbursement standards and financial policies and timely receipt of reimbursement funds
• Operational: Comprehensively implement all financial policies through the process setting and parameter configuration with a system can quickly adjust when the reimbursement policy changes
• Management: Reasonable cost allocation in the reimbursement process, timely discovery of cost and budget implementation deviations as well as effective detection and control of unnecessary expenses
Highlight #3: Enhancing business insights by integrating business with finance
We provide banks with a panoramic financial information system, allowing the financial work boundary to continuously migrate to the business side, providing real-time lag information, and process information as a result as well as establishing the correlation between internal and external information. At the same time, the systems allow customers to change post-accounting that is disconnected from the business, realizing business-driven scenario management and control as well as a service-sharing application platform that allows financial management to be more professional and accurate while providing strategic decision-making support for enterprise development.
With more than 10 years of focus in the financial sector, Sunline has accumulated the right knowledge and experience in financial transactions and accounts processing, allowing us to better understand the logic and essence of financial management in banking businesses.