OREANDA-NEWS. June 15, 2011. After more than a decade of efforts in establishing its integrated service capacity for bill business, ICBC Bill Department launched the integrated bill service of "Bill Winner" beginning from this year. Through the comprehensive back-office management outsourcing bill services for large-and-medium enterprises and other bill institutions, "Bill Winner" helps main entities in bill market reduce management cost, control business risk and brings significant meaning to the healthy growth of bill market.

As related, with China's bill market staying on upward fast track, participating entities in the market are asking for more diversified bill services. However, the operation model in nowadays China's bill market still relies on the issuance and circulation of paper commercial draft. Large enterprises and bill institutions have to spend large amount of business resources for the verification, transaction, operation, safekeeping, collection and delivery of bills. Management in later period is much more difficult. This also raises the need of outsourcing non-core businesses such as back-office operation and safekeeping of paper bills. The ICBC "Bill Winner" launched at this time is a basket of integrated outsourcing services designed and provided to financial institutions and companies for the custody of bill, as well as verification, witnessing, safekeeping, delivery, enquiry, collection and transaction. "Bill Winner" also offers many functions to facilitate bill transaction, reduce transaction cost and prevent business risk.

Through "Bill Winner", ICBC Bill Department can choose and consolidate different bill products and services to come up with flexible, customized solutions as required by the customers, said an ICBC executive with the Department. The objective is to provide targeted back-office support for bill business. Meanwhile, ICBC Bill Department also sets up subsidiaries in major economic regions in the country. Customers only need to sign necessary agreement with the outlets offering bill services. After that, they can issue instructions nationwide in order to achieve highly efficient back-office support operation.

More important, the highly efficient, safe and reliable running of "Bill Winner" service is backed by the Bill Department's comprehensive system flow, systemic risk monitoring and management, powerful platform and a professional, experienced service team. For example: the Bill Department leverages technological innovation to independently develop "Integrated Bill Service Management System", a platform for facilitating easy access to bill services through different mechanisms including custody verification, two-sided quotation, matchmaking transaction and collection services. The system also can monitor in real-time the source structure and flow of bills, assess and alert risks. Unqualified bills, bills from badly reputed customers are stopped by the hard control in "three separate management of stamp, test key, voucher", where all accounting factors (stamp, test key, voucher, key devices and others) are included in the system management to prevent and control case risk effectively.

In fact, ICBC Bill Department stays close to a business strategy of seeking efficiency from the product innovation. In 2010, the Bill Department launched a pilot service representing customers to raise fund online, and rolled out the bill wealth management service. New breakthrough was also achieved in many emerging businesses like electronic bill and low-risk bill acceptance. Bill approval, bill safekeeping, bill collection were some of the intermediary businesses that ICBC Bill Department promoted by dint of its intensive operation. An executive with ICBC Bill Department said, being the first institution dedicated to bill business in the country, the Department remains committed to product and service innovation through scalable, intensive and professional operation in line with the regulatory requirement and trend, taking into consideration of the changes in market conditions and the features of customer demands. The Department strives to forge an innovative, unique brand in the bill industry by embracing innovation in rules and system, technology, management.