Xinxiang Chemical Fiber | Fully digitalized e-invoice management and electronic accounting archives

Enterprise overview

Xinxiang Chemical Fiber Co., Ltd. (000949) is a large domestic manufacturer of chemical fiber textile raw materials. Its main products are spandex fiber and biomass cellulose filament (viscose filament), with production capacity ranking third and first in China respectively, making it a domestic leader in the viscose industry. The company's flagship "Egret" brand viscose filament is recognized as a China Top Brand product. It has Asia's largest continuous-spinning viscose filament production line and an advanced continuous polymerization dry-spinning spandex production line, and its viscose filament output accounts for more than 20% of the national total.

Business pain points

• Archiving work is concentrated after closing, with finance manually matching vouchers, invoices, contracts, acceptance forms, and payment receipts one by one before binding. Cross-year and cross-entity voucher retrieval requires manual searching, resulting in long response cycles during audits or tax inspections
• Vouchers lack systematic linkage to their corresponding contracts, acceptance forms, and payment records, leaving an incomplete evidence chain. Paper archives carry risks of damage and loss, and centralized archive management for entities in different locations is costly.
• The original vouchers involved in manual vouchers at shared service centers are difficult to manage uniformly. After the rollout of fully digitalized e-invoices, tax and archives authorities require that archiving must simultaneously preserve original electronic files such as XML, while business systems often can only obtain printed copies, leaving a gap in archiving compliance.

Solutions

• Automatically collect four types of data—business, finance, tax and funds—by voucher dimension, linking contracts, invoices, acceptance sheets, payment records and bookkeeping vouchers into a complete evidence chain
• Connect with business systems to complete electronic archiving of archives from the business document dimension, eliminating manual gathering and binding steps
• Complete the automatic acquisition and preservation of the original PDF, OFD, and XML files of fully digitalized e-invoices, meeting the requirements of archival standards for original electronic files
• Ultimately supports batch export by voucher number, multi-format online preview, and full-text search, enabling instant retrieval during audits and tax inspections while eliminating paper storage and manual effort
• At the same time, archiving standards are solidified into the process, so when new business systems are connected, archives are accumulated according to the same set of rules without secondary transformation