Haier Biomedical, a pioneer in the realm of biological medical low-temperature storage solutions, has evolved into a novel IoT technology ecosystem, driven by the development of Internet of Things.

Amidst the intensifying calls for digitalization and automation, coupled with the exponential growth in corporate operations and business lines, traditional financial accounting systems are proving inadequate in keeping pace with the demands of digital advancement.

Haier Biomedica, in partnership with Laiye, has tailored AI software robots specifically for Haier Biomedical's Finance Department. These intelligent tools facilitate seamless processes like bank account balance inquiries, automated balance imports into financial systems, and automatic email notifications for anomalous situations. By augmenting Haier Biomedical's financial landscape with smart budgeting, accounting, taxation, and sharing capabilities, Laiye's solution accelerates Haier Biomedical's intelligent automation journey, ushering in a new era of efficiency and adaptability.

Key Challenges Addressed

Time-Consuming U-Key and Password Management

One of the routine tasks that corporate treasurers undertake daily is checking bank account balances. a task that is both time-consuming and labor-intensive, primarily driven by the need to uphold stringent information security protocols.

High Volume and Repetitive Workload

Enterprises often maintain multiple bank accounts across various financial institutions, each requiring its unique U-Key, password token, and distinct login portal. The duration spent on querying these accounts is directly proportional to their number, translating into longer hours spent as the account count escalates. Moreover, the nature of these tasks is inherently repetitive, adding to the overall workload and potential for inefficiency.

Manual Aggregation Vulnerable to Errors

Once the individual account balances have been retrieved, financial personnel are tasked with manually compiling them into an Excel spreadsheet. This manual entry process, though meticulous, is inherently prone to human errors, posing a challenge in achieving absolute accuracy and reliability in the aggregated data.

Laiye’s Solutions and Results

For enterprises managing 100 accounts, manual operations can consume nearly 120 minutes, whereas the RPA software bot accomplishes the task in just 5 minutes, marking a 95% efficiency improvement. This translates to a flawless accuracy rate of 100%.

Having undergone a successful pilot deployment for Haier Bio's Bank account, this automated solution for bank account balance inquiry and import into the fund management system has swiftly been replicated across many banks.

Intelligent automation, as the earliest adopted, most versatile, and human-machine collaboration solution in the financial and taxation realm, has found widespread application in areas such as expense reimbursement, procurement payments, order collections, accounting, report generation, fund reconciliation, and tax filing. It is gradually emerging as an indispensable tool for the transformation of financial departments.

‍