UTILITIES
China Energy Ningxia Coal Industry Group Co., Ltd. (China Energy Ningxia Coal Industry Group) was established on 18 January 2006. It is a state-owned energy enterprise jointly invested and operated by CHN Energy and The People's Government of Ningxia Hui Autonomous Region, specialising in coal and coal-to-oil chemical industry. Its business scope covers deep processing and comprehensive utilisation of coal, mechanical manufacturing and maintenance, energy engineering construction, etc.
With the fast expansion of the energy sector, the workload of all business units of China Energy Ningxia Coal Industry Group has expanded dramatically, posing a new challenge to business efficiency as large efforts, including time and labour, are required to manage people, assets, and resources. In view of this, the finance department of the Group advocated using Robotic Process Automation (RPA) to automate business operations for accelerating the company’s digitalisation.
After a thorough analysis to the requirements and in-depth market research, the finance department of China Energy Ningxia Coal Industry Group has decided to partner with PCCW Solutions to implement the Alibaba Cloud RPA solutions. RPA allows users to automatically produce monthly financial statements, manage bank reconciliation and create material receipt notes. The system then provides the processing results to designated employees for manual validation, freeing staff from tedious tasks and offering more opportunities in value creation.
With RPA generating financial statements automatically, the total efficiency for preparing monthly financial statements has grown by 30%, while the time for closing month-end balance has been reduced by 4 hours, indicating a considerable improvement in the company's overall financial operations. The efficiency and data accuracy have increased by 93% and 95% respectively. All of these benefits have enhanced the consistency of business and finance while lowering audit and business risks.
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