Huaxia Bank has been honored with the “2025 Digital Pioneer” award for its successful implementation of the “Full-Process Intelligent Procurement System” project. This recognition highlights not only Huaxia Bank’s innovative approach to procurement management but also its strategic foresight in partnering with Yonyou to set a new benchmark for intelligent procurement in the banking industry through technology-driven collaboration.
With the full-process intelligent procurement system, Huaxia Bank has achieved visibility, manageability, controllability, and optimization across the entire procurement process. This system provides a reusable model for the digital transformation of procurement in the financial sector and further consolidates Huaxia Bank’s leading position in industrial digital finance.
About Huaxia Bank
Founded in 1992 and publicly listed in 2003 as the fifth listed bank in China, Huaxia Bank has partnered deeply with Yonyou to drive the intelligent upgrade of centralized procurement, offering a replicable path for digital procurement in the financial industry.
Breaking Through Traditional Procurement
Previously, procurement processes such as tender openings required suppliers, evaluation experts, and supervisors to gather in one location. Geographic limitations not only increased time costs but also posed risks of process opacity and document misplacement.
The launch of Huaxia Bank’s centralized procurement platform has completely changed this landscape. Built on domestic IT innovation technologies with a focus on compliance, fairness, and efficiency, the platform digitizes the entire procurement cycle: tendering, bidding, evaluation, and supervision.
Now, participants can join tender openings and evaluations remotely, without travel. Bid documents are protected with SM4 encryption and CFCA digital certificates, ensuring security throughout transmission and storage. Even procurement archives are now managed paperlessly throughout their lifecycle.
Overcoming Four Major Challenges in Building an Intelligent Procurement Platform
1. Technical Architecture Selection: Procurement involves multiple modules—electronic evaluation, bidding, and risk control—that must function independently while handling high concurrency. Traditional architectures struggled to cope.
2. Strict Security & Compliance: Financial data must be flawless. Sensitive information, including bid documents, must be transmitted and stored securely and be fully auditable.
3. Data Integration: Supplier risk monitoring models require massive data validation. Integrating online and offline data for accurate analysis was challenging.
4. User Process Adoption: Existing suppliers were unfamiliar with electronic bidding processes, requiring extensive guidance and slowing system adoption.
Driving Operational Efficiency and Cost Optimization
Efficiency: Migrating the system configuration center to a unified internal platform (with Yonyou support) increased operational efficiency by 50%. Digitizing the full cycle from decision → execution → archiving improved overall procurement efficiency by over 40%.
Risk Control: Supplier risk monitoring models operate precisely, reducing supplier disruption risks by over 80%. Predefined risk thresholds enhance supply chain resilience.
Resource Optimization: Cluster deployment reduces hardware costs and doubles resource utilization. Paperless archives decrease physical consumption, supporting ESG goals and promoting green efficiency.
Domestic Innovation: Huaxia Bank became one of the first to upgrade its systems with the Jinwu database and deploy large cluster systems, setting the path for domestic system upgrades in the banking industry.
Three “Digital Moves” Reshaping the Procurement Experience
1. Digitizing Centralized Procurement: Full online processes enhance operational efficiency and transparency. Online evaluation allows procurement projects to be executed end-to-end digitally. Supplier portals and monitoring systems have been upgraded for self-reporting, reducing errors and enabling precise risk monitoring.
2. Implementing Mall-Style Procurement: A unified procurement platform simplifies ordering and approval processes. Built-in controls ensure compliance, while real-time interaction with suppliers reduces management costs, achieving mutual benefits.
3. Innovating Online Decision-Making: For centralized procurement committees, an online resolution mechanism enables real-time meeting participation, topic-specific voting, and automatic archiving of results, ensuring efficiency, fairness, and security in decision-making.
Transformational Value
The platform not only addresses Huaxia Bank’s internal procurement challenges but also provides a replicable methodology for financial industry digital transformation. From the deep application of domestic IT innovation to full-process online execution and intelligent risk control, every step sets an industry benchmark.
As Huaxia Bank executives emphasize: “A ‘digital intelligent enterprise’ is an organization that deeply integrates data and intelligence. Banks, as key partners, must transform themselves while delivering fintech capabilities to empower the real economy.”
Looking ahead, Huaxia Bank will continue to leverage digital intelligence to explore innovation across business areas, fueling the financial industry’s high-quality growth with continuous digital-driven momentum.
