Evaluation Of The Application Effect Of Sinochem International’s Financial Robot And Its Optimization Strategy

Since the turn of the twentieth century,as reform and opening continued,China’s social environment and technological level have advanced rapidly,and enterprises have expanded their scale and business to increase their economic benefits.In this context,the financial sharing model was introduced in China and has gradually gained traction among local businesses over the last decade or so.China has been guiding group companies to implement financial sharing on a policy level in recent years to improve enterprises’ financial intelligence and contribute to the sustainable development of China’s economy.Robotic Process Automation(RPA)was developed to relieve finance staff of routine,boring,and low-value-added work.This paper focuses on RPA process automation,which has received a lot of attention in recent years,and takes Sinochem International,the first state-owned enterprise to introduce a financial robot,as the subject of the study.The growth of the company’s financial sharing and RPA process automation capabilities and the transformation of its financial management system are mutually reinforcing.This paper presents a case study of the application of RPA financial process automation to the financial management,tax management,and audit management scenarios at Sinochem International’s Financial Shared Service Centre,evaluates and summarises the effectiveness of its application in financial and non-financial aspects,and proposes optimisation strategies in four areas: embedding AI technology,discovering process automation,improving internal controls and promoting people transformation.The paper discovered the following: RPA breaks down "data silos" between heterogeneous systems to improve quality,reduce costs and increase efficiency;RPA increases the effectiveness of corporate internal control and has a positive effect on working capital and financial risks;RPA restructures corporate financial processes and personnel structures,which has a positive effect on financial efficiency,decision support efforts and process optimization and re-engineering.This paper makes three recommendations to group companies in this regard,based on the development of RPA financial robots: develop an enterprise-wide strategy for RPA;align standard processes with organisational changes;integrate AI technology with RPA applications.To summarise,this paper advocates for the advancement and innovation of digital,automated,and intelligent corporate finance,contributes to the existing body of knowledge on financial sharing and RPA process automation and serves as a reference for businesses and organisations that have used or intend to use the RPA model.