Yangtze River Delta Smart Pharmaceutical Innovation Center | Industry-academia-research expert labor service issuance

Enterprise overview

The Shanghai Yangtze River Delta Smart Pharmaceutical Technology Innovation Promotion Center is a technology innovation promotion platform serving the pharmaceutical industry in the Yangtze River Delta region, working on pharmaceutical technology achievement transformation, industry-university-research collaboration, industry standard development, and professional talent cultivation.

Business pain points

• Expense settlements occur with external experts, lecturers, researchers, and part-time personnel, with many people, low single amounts, and high frequency. External experts, lecturers, and individual practitioners are paid per engagement, with many people, wide distribution, and high mobility; individuals going to tax halls for invoice issuance must queue offline and fill out forms. Individuals' willingness to cooperate is generally low; if the enterprise cannot obtain invoices, it cannot expense them as costs, and white slip posting is no longer feasible under current regulation
• Invoices and payment records are scattered, making it difficult to match them item by item during project final accounts and audits. Labor remuneration involves withholding and payment of individual income tax, and policies and filing standards vary by region, making manual determination of tax calculation methods prone to error
• When a single event involves many people, the invoice collection cycle is prolonged, directly affecting expense settlement and project closure. Regulatory requirements for cost expenditure vouchers are tightening; expenses without invoices affect pre-tax deductions and also pose hidden risks in audits and compliance inspections.

Solutions

• Provide each individual with a convenient self-service entry, completing identity authentication, amount confirmation, and invoice application in a few steps, eliminating paper forms and offline submission
• The system automatically completes compliance review, invoice issuance, and push; managers can monitor the issuance status of each invoice in real time
• Invoices, payment transaction records, and business vouchers are automatically linked to build a complete business evidence chain
• Ultimately eliminating the manpower input for offline invoice delivery, with expense settlement and project closure cycles shortened simultaneously
• And enabling the enterprise side to keep track of invoicing progress and quota usage at any time, so expense settlement and project closure are no longer held up by invoice collection