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What Intelligent Applications are there in Financi

With the emergence and application of new technologies, the efficiency of financial work has been greatly improved, and the ability of financial personnel to participate in enterprise management and value creation has been enhanced. At the same time, it also caused profound changes in the structure of financial personnel and financial organizations. Financial managers need to have more new functions that match the intelligent era       . So, what new tools can help financial management? What are the technical measures adopted for the operation and management of  the Financial Sharing Center of large enterprises?

On March 26, GFC Consulting held a special seminar on "Intelligent Application of Financial Sharing". Lucy Zheng, director of China Financial Sharing Center of a large multinational insurance group, Vincent Yu, director of Business Process Outsourcing Services +, and Mr. Lu Ping, general manager of GFC Consulting, were invited to interpret the above issues.

First of all, Director zheng has brought the topic of "Intelligent Application of Financial Sharing Center of Large Multinational Enterprises".Director zheng analyzed the pros and cons of different construction methods from the different construction paths of the financial sharing service center. Director zheng said that the maturity of the construction of the sharing center usually has three major indicators: centralized standardization process, optimized simplification process and value creation. The benefits of construction automation far exceed the benefits of cost reduction. Therefore, she suggested that financial managers should improve efficiency and create value for business departments and even the whole company as the ultimate goal. When talking about the optimization framework of Financial Sharing center, Director Zheng proposed that we need to consider cost reduction, strategic decision-making, effective control and continuous optimization, which will involve leadership, knowledge base, location, business process, system and technology, operation and staff, performance management, regulation and control, change management and other factors.

Director Zheng also said that the financial departments of most enterprises have encountered similar problems at present, such as

Lack of enterprise-wide automation to achieve sustainable change and productivity;

Due to the single solution, mixed technology, and inconsistent standards, it is impossible to scale up.

Lack of automation, integration of AI and robots, and lack of expertise;

There is no strategy for integrated management of digital technology and human resources.

Therefore, enterprises need to apply automation to a larger scale and more mature, and consider replacing tedious basic work with artificial intelligence.

So, what kind of industry innovation will intelligent technology bring? Vincent Yu, Director of Business Process Outsourcing Services + Department of GFC Consulting, and Mr. Lu Ping, General Manager of GFC Consulting brought the topic of "Intelligent Tools Help Financial Audit".

How to simplify the daily work flow often causes financial managers headache, and the bill audit bears the brunt. Vincent pointed out that the main difficulties of T&E financial auditing :multiple sources, financial subjects, kinds of bills, auditing requirements, and authenticated websites. GFC Consulting's "T&E End-to-End Automation Solution" can easily solve these problems. The system can not only customize the approval process and approval rules, but also build dozens of financial, policy and compliance review models. It can realize the automation of financial review and compliance review, greatly improve efficiency and accuracy, and help enterprises control risks accurately. The system can also help enterprises to adopt centralized purchasing mode, avoid user reimbursement process, achieve data management, centralized settlement, and increase transparency. In addition, users can also apply for reimbursement through mobile phones, automatically identify various invoice reimbursement vouchers, simplify the process, and greatly enhance user satisfaction.

Mr. Lu said that the OCR scanning technology currently held by GFC Consulting could achieve a correct rate of more than 99%. GFC has provided a third-party AP automation solution for a large-scale financial sharing service center. Its team originally had 20 people. The operation mode was manual checking of VAT invoices. After going online GFC BPO+ intelligent solution, it has saved 50% of the labor cost by applying various advanced technologies in the market.

In the era of intelligence, data will become particularly important. Intelligence not only has the ability of automatic operation, but also has the ability of judgment, which is based on a large number of data. Therefore, we have reason to believe that the acquisition and application of data will become the core competitiveness of enterprises. When the data dimension reaches more criteria, AI can provide decision makers with more decision-making effectiveness and create value.

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