China Merchants Bank Zhirong Applies for Blockchain-Based Travel Expense Reconciliation Patent: Efficiency Enhancement as Key

China Merchants Bank Zhirong Applies for Blockchain-Based Travel Expense Reconciliation Patent: Efficiency Enhancement as KeyOn January 8, 2025, the State Intellectual Property Office of China revealed that China Merchants Bank Zhirong Supply Chain Service Co., Ltd

China Merchants Bank Zhirong Applies for Blockchain-Based Travel Expense Reconciliation Patent: Efficiency Enhancement as Key

On January 8, 2025, the State Intellectual Property Office of China revealed that China Merchants Bank Zhirong Supply Chain Service Co., Ltd. applied for a patent titled "Method, Device, Equipment, and Storage Medium for Blockchain-Based Travel Expense Reconciliation," with publication number CN119250999A and an application date of September 2024. This patent application marks a significant step for China Merchants Bank Zhirong in leveraging blockchain technology to improve travel expense management efficiency. The patent abstract provides a clear understanding of the core functionality and advantages of this innovative technology.

This patent falls within the field of travel management technology and proposes a novel blockchain-based method, device, equipment, and storage medium for travel expense reconciliation. Compared to traditional methods, this approach significantly improves reconciliation efficiency and enhances data security and transparency. The core lies in utilizing the immutability and distributed ledger characteristics of blockchain technology to achieve secure and efficient reconciliation of travel expense data.

The method described in the patent abstract primarily involves the following steps: First, the system receives a reconciliation request from the user. Then, based on the preset type parameter set of the target items to be reconciled in the application, the system calls a pre-built reconciliation contract. This pre-built contract is the core of the entire process, defining the reconciliation rules and procedures to ensure automation and standardization.

Next, the system uses the reconciliation contract to retrieve the factoring asset packages already on the chain from the factoring platform, and the funding asset packages from the funding platform based on the uploaded factoring asset packages. This indicates that the patented technology can integrate data from multiple platforms, enabling cross-platform data reconciliation, further improving efficiency and accuracy. By retrieving factoring invoices from the factoring platform and fund disbursement invoices from the funding platform, the system obtains factoring invoice packages and funding invoice packages, respectively. These data packages contain all necessary travel expense information, providing the data basis for the subsequent reconciliation process.

Finally, based on the pre-configured reconciliation rules in the reconciliation contract, the system automatically reconciles the factoring asset packages, funding asset packages, factoring invoice packages, and funding invoice packages, ultimately obtaining the reconciliation results. This automated reconciliation process is a core advantage of the patented technology, greatly reducing manual intervention, minimizing human error, and significantly improving reconciliation efficiency.

The efficiency gains from this blockchain-based travel expense reconciliation method are highly significant for businesses. Traditional travel expense reconciliation typically relies on manual operations, which are time-consuming, laborious, and prone to errors. The blockchain-based solution automates the reconciliation process, reducing labor costs and significantly shortening reconciliation time. More importantly, the application of blockchain technology ensures data security and transparency, preventing data tampering and loss, and improving the reliability of enterprise financial management.

China Merchants Bank Zhirong Supply Chain Service Co., Ltd., as the applicant for this patent, demonstrates a high degree of emphasis on technological innovation and efficiency improvement. Established in 2023 with a registered capital of 700 million yuan, the company is located in Zhuhai and primarily engages in internet and related services. According to Tianyancha data, the company has participated in 8 bidding projects, holds 16 patents, and possesses 2 administrative licenses. This data indicates that China Merchants Bank Zhirong is a company with strong innovation capabilities and market competitiveness. Its active exploration of blockchain technology aims to provide customers with more advanced and efficient supply chain financial services.

This patent application also reflects the increasingly widespread application of blockchain technology in the field of supply chain finance. With its decentralized, transparent, and secure nature, blockchain technology provides new solutions for various aspects of supply chain finance, effectively reducing transaction costs, improving transaction efficiency, and enhancing trust among participants. This patent application by China Merchants Bank Zhirong is a successful example of leveraging this technological trend and actively exploring the application of blockchain technology in travel expense management.

It is worth noting that the design and implementation of the "reconciliation contract" mentioned in the patent application will be a key factor determining the ultimate effectiveness of this technology. A well-designed reconciliation contract should accurately reflect various complex travel expense settlement rules and be flexible enough to adapt to the needs of different clients. The flexibility and scalability of the reconciliation contract will directly affect the scope and applicability of the technology.

In conclusion, China Merchants Bank Zhirong's application for this "blockchain-based travel expense reconciliation" patent represents a positive exploration in leveraging blockchain technology to improve enterprise efficiency. Its automated reconciliation process, data security, and cross-platform integration capabilities provide new solutions for enterprise travel expense management and demonstrate significant application value and market potential. With the continuous development and improvement of blockchain technology, we can expect more innovative blockchain-based applications in the future, providing businesses with more convenient and efficient services. China Merchants Bank Zhirong's patent application undoubtedly injects a shot of adrenaline into this field. In the future, similar blockchain-based applications will leverage their unique advantages in more fields, driving digital transformation and upgrading across various industries. This is not merely technological progress but also a transformation of enterprise management models and business ecosystems.