Financial Services
Jiangling Motors Group Finance Reports Accurate and Timely Data with RPAaaS
Company profile
Founded in October 1993, Jiangling Motors Group Finance Co., Ltd. (JMCF) is a non-bank financial institution providing financial services for Jiangling Motors Corporation Ltd. (JMC). As the first enterprise group financial company set up in Jiangxi Province, the establishment of JMCF was approved by People's Bank of China and co-founded by JMC and its three subordinate enterprises. JMCF has a registered capital of RMB 500 million, providing a wide range of financial services, including corporate deposits and loans, buyer credit, bill processing, entrustment, consultancy, marketable securities, investment provision, etc.
Challenges
JMCF is required to process business data in a timely, accurate and complete manner every month. Considerable time and efforts are devoted in data processing monthly, as it involves manual data entry and verification which are tedious and error-prone. Rapid business growth will impose greater pressure in improving data entry and verification processes, and the existing manual processing is inadequate to address data timeliness and business needs.
Solutions
Riding on the successful implementation of the integrated financial management platform for JMCF, PCCW Solutions further provides JMCF with Robotic Process Automation as a Service (RPAaaS), integrating business data from the automotive financial system. The RPAaaS full-scale deployment includes streamlining and reengineering business processes, identifying and breaking down existing tasks for robotic automation. The robots can take up data entry, verification and revision tasks, while human workforce is only involved for document preparation and results inspection.
Value created
With RPAaaS in place, JMCF handed over tedious and repetitive tasks to robots, while human workforce only needs to inspect on the results. Manual processing is reduced to less than 10%, significantly improving operational efficiency and releasing workforce for more important management work. Human employees are given more time for data verification, thus increasing data accuracy and ensuring timely and proper business processing. RPAaaS achieves substantial savings in manpower and operational costs, enabling JMCF to gain competitive advantages for business expansion.
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