On March 29, the "Create Better Cash Flow" enterprise series launch and strategic partnership signing ceremony, co-hosted by Shanghai WelinkData Information Technology Co., Ltd. (WelinkData) and CICC Payment Co., Ltd. (CICC Pay), was held in Beijing. Numerous industry leaders and financial experts attended the event and delivered insightful speeches, including Zhang Jingqiang, Executive President of China Association of Small and Medium Enterprises; Zhong Shengjiu, CEO of WelinkData; Shi Jiale, Executive Deputy General Manager of CICC Pay; Wang Penghu, Deputy General Manager of Corporate Banking at China CITIC Bank; and Xie Jinsheng, Vice President of JD Finance and General Manager of Fintech Business Unit.
Mr. Zhong Shengjiu, CEO of WelinkData Mr. Zhong Shengjiu, CEO of WelinkData, stated that currently, over 90% of SMEs sell on credit to customers, and among enterprises engaged in credit sales, 82% are affected by payment delays, external cumbersome customer reconciliation, and internal heavy financial verification. Traditional corporate banking services still focus on large or ultra-large customers in the growth and maturity stages.
As the wave of technology rapidly sweeps through the banking industry, fintech advancements will bring revolutionary changes to banking business. The Enterprise Series Intelligent Receivables Platform has emerged to combine fintech with transaction banking cash management, enabling banks to develop cash management capabilities truly oriented toward SMEs. It also actively addresses SME receivables management and optimization, reducing overdue receivables, accelerating sales collections, and transforming the closed loop formed by upstream and downstream enterprises and financial institutions to provide integrated supply chain credit and financial solutions for SMEs.
WelinkData is collaborating with numerous partners to build an intelligent receivables ecosystem, establishing comprehensive and in-depth cooperation around SME receivables management, and providing more comprehensive cash flow optimization services for SMEs.
Furthermore, CEO Zhong stated that one of the key highlights of the Enterprise Series Intelligent Receivables is intelligent adaptation, which seamlessly connects to a company's ERP and inventory management backend, integrating with business documents. In addition to assisting enterprises in collecting payments based on business conditions, it also provides banks with a new means and method of bank-enterprise interconnection. Intelligent adaptation currently supports one-click connectivity with over a thousand different types of inventory and ERP systems in China. Enterprises can easily input their backend data into the intelligent receivables tool through intelligent adaptation, making internal approval workflows, sending reconciliation and collection requests to customers, and defining receivables confirmations based on customer credit and collection strategies a completely seamless process.
Additionally, it integrates with various collection scenarios, including face-to-face collections by mobile personnel and sales staff (such as vehicle sales personnel collecting payments on-site). It further integrates different scenarios such as receivables reconciliation and collection, immediate online collection, prepayment, ordering, invoicing, and batch processing.
The Enterprise Series Intelligent Receivables is committed to "creating better cash flow." The cash flow pressure on SMEs stems from the dual risks of credit risk and capital pressure brought by credit sales, coupled with a lack of effective cash management tools and methods. The Enterprise Series manages receivables, risks, collections, and financing. Channel data credit reporting, with one platform connecting various channel partners, provides truly driven supply chain financial services for distributors in the consumer goods industry.
Mr. Shi Jiale, Executive Deputy General Manager of CICC Pay Mr. Shi Jiale, Executive Deputy General Manager of CICC Pay, stated that in recent years, many financial institutions have attached great importance to the development of fintech, making fintech a crucial cornerstone for enhancing corporate cash management services. CICC Pay uses fintech to improve enterprise operational efficiency and reduce operational risks in a more compliant and reasonable manner. Through fintech innovation, financial institutions can provide traditional enterprises with more, better, and more efficient financial service support.
After rapid development in recent years, CICC Pay, leveraging its core advantages on the enterprise side, has formed a payment segment as the foundation, with five innovative segments: industrial finance, big data applications, supply chain management, cash management, and cross-border payments. Combined with the company's future development goals and the international and domestic economic situation, CICC Pay tailors "highly integrated" industry service solutions for enterprises.
Subsequently, CICC Pay and WelinkData signed a strategic partnership agreement on-site. The two parties will work together to promote unbounded fintech services connecting SMEs and financial institutions, providing SME users with overall cash flow optimization solutions based on receivables management and intelligent payment, providing banks with SME cash management solutions integrated with transaction scenarios, and creating an interconnected credit and business environment for enterprises, trading partners, and financial institutions.
WelinkData and CICC Pay establish strategic partnership
As the event drew to a close, the five guests who attended the event once again took the stage and jointly launched the Enterprise Series Intelligent Receivables Platform. The platform, with "scenario integration and data risk control" as its focus, proactively and deeply engages in enterprise business scenarios. Based on each transaction behavior and content, enterprises accumulate historical transaction data and establish an enterprise transaction credit scoring system. Financial institutions can then make credit decisions based on historical transaction credit evaluations such as business stability and payment punctuality, thereby helping SMEs obtain more credit services.
Enterprise Series Intelligent Receivables Platform launch
Amid the expectations and applause of the attendees, the launch of the Enterprise Series Intelligent Receivables Platform was a complete success. It signifies the close collaboration between enterprises and financial institutions, using strong cooperation to create a better future; symbolizes the progress and upgrading of the times, completely overturning the status quo, and facing future development with better changes; and represents the commitment made by enterprises such as China Association of Small and Medium Enterprises, WelinkData, CICC Pay, China CITIC Bank, and JD Finance to SMEs, truly helping optimize cash flow and ushering in a new era of intelligent and efficient enterprise development.
About WelinkData WelinkData (www.welinkdata.com) is a data bridge connecting enterprises with upstream and downstream business partners, and between enterprises and financial institutions. WelinkData combines advanced global value chain management experience with data collection, exchange, processing, and analysis technologies. Through authentic, timely, and continuous data services, it connects enterprises with customers to establish accounts receivable management systems; connects enterprises with various financial institutions to establish cash management and receivables asset risk management systems based on transaction integration.
About CICC Pay CICC Payment Co., Ltd. (CPCN) is a third-party payment institution established and operated under the guidance of the People's Bank of China. Based on corporate payment services, CICC Pay has formed professional online payment solutions in areas such as bidding, e-government, supply chain, logistics, and B2B trading markets. With the rapid development of payment services, and based on its positioning of serving enterprises and industry chains, CICC Pay has developed a series of products and secure, professional fintech service solutions in fields such as supply chain finance, supply chain management, cash management, cross-border payments, and big data applications, solving problems such as financing, cost reduction and efficiency improvement, transaction security, and diversified payment needs that enterprises encounter during industrial transformation and upgrading.
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