CorporateTreasurer

How Wanhua Chemical Group Reduced Manual Payment by 98% in Less than Six Months | 万华化学集团如何做到在不到六个月的时间里 将人工支付减少了98%

By Kyriba | Jan 7, 2020

As part of a strategic revision, the Chinese company set about redefining how it managed its financial operations. Working with Kyriba, it was soon able to achieve excellent results | 作为战略调整的一部分,万华化学集团开始重新定义其资金运营管理方式,通过与Kyriba的合作,很快取得了优异的成果。

As one of the most successful polyurethane producers in the world, Wanhua Chemical Group has four manufacturing bases in China and Europe, as well as subsidiaries in more than ten countries across Europe, North America and Asia.

The company manufactures and distributes polyurethane and other related products. It was founded in December 1998 and is headquartered in Yantai City, China.

万华化学集团有限公司是一家全球化运营的化工新材料公司。公司成立于 1998年12 月,总部位于中国烟台市。作为全球聚氨酯行业的领先者,万华化学在国内和欧洲拥有四个生产基地,产品辐射亚洲、欧洲及美洲等地,目前已在十余个国家和地区设立子公司和代表处,为全球客户提供优质的产品和技术服务。

In 2010, Wanhua began the process of revising its financial operations. The company relied on countless transactions passing through its existing e-banking portals, a method that lacked effectiveness because data for those transactions were incomplete. With the healthy development of its overseas business, shortcomings in its group-wide treasury management became more apparent and the focus shifted to unifying both domestic and international operations.

万华化学从2010年开始着手进行财务业务一体化建设,相继完成了国内的银企互联以及电子回单等系统建设,但是对于海外的资金收支及账务处理,更多的还是依赖纯手工的网银操作的方式进行,需要耗费人员大量时间,系统内的交易记录也不完整。随着其海外业务的强劲发展,集团范围内对于海外资金管理的需求也变得越来越迫切,如何统一国内外资金管理流程,成为了一道亟需解决的课题。

Unifying International Operations | 集中管理国际业务

The company’s finance IT manager Feng Yongjin proposed to deploy a treasury management solution to help enhance and future-proof Wanhua’s “super e-banking” model. The goal was to select a scalable and expandable system that could provide an automated, centralised, global view of the company’s financial position, to improve internal security and controls and to reduce the risk of payment fraud. Achieving intelligent processing for improved supplier and customer satisfaction was also a driving force behind the decision.

万华集团财务IT经理冯永进提议通过部署新的财务管理解决方案来帮助推动万华的“超级 网上银行”,为万华未来发展提供保障。为此,IT和财务成立了联合团队,其任务是 选择一个可扩展的系统,该系统能够提供公司财务状况的自动化、集中化、全球化视图,改善内部安全和控制,并降低支付欺诈风险。实现智能处理以提高供应商和客户满意度也是该决定背后的驱动力。

After five months of research, the ‘Global Treasury management cloud platform’ project team mandated Kyriba in early 2018 with three main goals:

• To establish transaction data maintenance requirements for each overseas entity and create a processing template for Wanhua’s overseas business standards.

• To achieve global data integration with all Wanhua’s supplier banks with the objective to meet the current and future language and policy requirements of each entity.

• To build a globally unified processing platform for smart, automated payment routing based on big data analysis from international accounts.

2018 年初,经过五个月的研究,“全球资金云平台”项目团队决定采用 Kyriba,主要目标有三个: 

  • 为每个海外实体建立交易数据维护要求,并为万华海外业务标准创建处理模板。
  • 与万华所有供应商银行实现全球数据集成,目标是满足每个实体当前和未来的语 言、政策及系统要求。
  • 基于国际账户的大数据分析,构建全球统一的智能自动支付路由处理平台。

Supporting Overseas Payments | 支持海外支付

During the selection process, Wanhua fully mobilised the global resources of Kyriba and its partner banks, proceeding with manual inspections, and conducting multiple rounds and multiple combinations of stress-testing. Kyriba designed standard payment templates to meet Wanhua’s current and future business needs and established a transaction data maintenance standard.

Integrating data from Wanhua’s supplier banks with its ERP system, Kyriba’s single cloud-based solution is compatible with - and supports maintenance of - both its international and Chinese wire transfers, electronic acceptances, e-commerce business, letters of credit and different payment types. Kyriba’s streamlined settlement and accounting rules adhere to the requirements of each local jurisdiction.

在甄选过程中,万华充分调动了 Kyriba 及其伙伴银行的全球资源,着手进行人工检查,并进行多轮和多种压力测试组 合。Kyriba 设计了标准支付模板,以满足万华当前和未来的业 务需求,并建立了交易数据维护标准。

 Kyriba 的单一云解决方案将万华供应商银行的数据与 ERP 系统集成在一起,与国际的电汇、电子承兑汇票、电子商务业务、信用证和不同的支付类型兼容并支持维护,数据复用率 100%。 Kyriba 的简化结算和会计规则符合每个当地司法管辖区的要求。

Making Scalable Efficiencies

In summary, Wanhua Chemical has, with Kyriba’s help, established a global data standard for its supplier banks accounts, achieved integrated and automated payments processing. It has unified and standardised payment templates, effectively reduced manual operations and costs, and has gained global treasury management visibility and intelligence.

  • 98% of all payments automated
     
  • 50% reduction in accounting entries
     
  • Connected 13 overseas banks in 5 countries

总之,万华化学在 Kyriba 的帮助下,为其供应商银行账户信息建立了全球数据标准,成功实现了集成和自动化的支付处理,。它具有统一和标准化的支付模板,有效降低人工操作和成本,并实现了全球财务管理的可见性和智能化.

  • 98%交易量的支付自动化。
     
  • 减少了50%的账务录入工作。
     
  • 连接了5个国家的13家海外银行。

Zhang Shoujun, general manager of the finance department, Wanhua Chemical Group said: “By optimising, integrating and automating our systems to achieve the end-to-end processing of domestic and international payments, we have laid the foundation for the eventual consolidation of all financial data across the group. The solution has also helped Wanhua to more easily adapt to unpredictable economic changes, to meet global regulatory standards, and support China's globalisation strategy with a view to overseas expansion.”

万华化学集团财务部总经理张守君说:“ 我们的端到端国内和国际支付处理系统的优化、集成和自动化,为最终整合整个集团的财务共享业务流程奠定了基础。它还帮助万华更容易适应不可预测的经济变化,支持万华的海外全球化战略,并满足全球监管标准。”

About Kyriba |  关于Kyriba

Kyriba is the global leader in cloud treasury and finance solutions, delivering mission-critical capabilities for cash and risk management, payments and working capital solutions. More than 2,000 clients worldwide rely on Kyriba to get 100% cash visibility, better manage FX losses, reduce fraud and make better, faster decisions through improved insight and intelligence. For more information, visit 15 mins guide to payment hubs.

Kyriba 是云资金和金融解决方案的全球领导者,提供现金和风险管理、支付和营运资金解决方案的关键任务能力。全球有 2000 多名客户信任并通过 Kyriba 获得 100% 的现金可视性,更好地管理外汇损失,减少欺诈,并通过提高洞察力和智能做出更好、更快的决策。欲了解更多信息,请访问15分钟支付中心指南
 

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