fund management

Capital source and capital use plan of state-owned enterprises

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Fund management is Socialist country For state-owned enterprises Source of funds And the use of funds control 、 supervise 、 assessment The general term of such work. financial management An important part of. Fund management includes Fixed capital management 、 Working capital management and Special fund management 。

Chinese name: fund management
Object: Socialist country
Essence: Capital source and capital use plan of state-owned enterprises

Status: An important part of financial management
Include: Fixed capital management, working capital management, etc
Management Policy: Pyramid fund management

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flow chart

In the risk market, by limiting the proportion of funds invested in a single time; To control risks.

Common fund management strategy: pyramid fund management.

Proportional fund management.

“ Cash is king ”It has always been regarded as the central concept of enterprise fund management. enterprise cash flow The level of quantity management is often the key to the survival of enterprises. In the face of increasingly fierce market competition, the enterprise is facing a complex and changeable living environment. Only by improving the management level of enterprise cash flow can we reasonably control operational risks, improve the efficiency of the use of the enterprise's overall funds, and constantly accelerate the development of the enterprise itself.

primary coverage

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Investment decision and plan, establish the fund use and management responsibility system , check and supervise the use of funds, and assess the effect of the use of funds. The main purposes of management are: to organize the supply of funds and ensure the uninterrupted production and operation activities; Continuously improve the efficiency of fund utilization and save funds; Put forward suggestions and measures for rational use of funds to promote the improvement of production, technology, operation and management.

development history

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programme

Since the founding of the People's Republic of China, the guidelines, principles, methods and methods of capital management for state-owned enterprises have been constantly improved. In the early days of the founding of the People's Republic of China, the national economy was in the recovery stage, the number of enterprises was small and the scale was small. The state implemented a supply system for the funds of enterprises, that is, the equipment and materials needed for the production and operation of enterprises, as well as wages and expenses, were all allocated by the state; All the products produced by the enterprise will be handed over to the state. Fund management is mainly used to prepare revenue and expenditure budgets. Enterprises do not calculate costs, profits and losses, but only the amount of materials, equipment receipt/shipment balance and expenses. In order to socialist economy Construction. In 1952, we carried out the work of "clearing assets and verifying funds" nationwide, and comprehensively checked all assets and materials of the enterprise Inventory , pricing and recording. On this basis, the state determines the Fixed capital and working capital Needs, approved Planned quota And allocated to Own funds , require enterprises to operate independently, calculate profits and losses, and begin to implement Economic accounting system 。 From this time Assets and capital verification Until 1978, although there were many developments and changes in the capital management of enterprises, the capital supply of state-owned enterprises was still basically a supply system. For example, sources of fixed funds（ Capital construction investment ）All by the state Financial appropriation , free occupation by enterprises; supplement Loss of fixed assets Of Depreciation fund Before 1967, all of them were handed over to the state, and after that, a small part of them were retained by enterprises as Renewal and transformation fund 。 industrial enterprise Of working capital According to the approved Planned quota , all of which are allocated by the state finance and occupied by enterprises free of charge; In 1958, it was changed to 70% of the financial allocation, and the remaining 30% was loaned by the bank, which was used for compensation; 1959 Fixed working capital Instead, it is completely supplied by bank loans; In 1961, it was restored to be fully funded by financial appropriation.

Since 1979, with the reform of the national economic system, the capital management policy of enterprises has changed significantly, and the paid use of funds has been implemented. Mainly: the capital construction investment was changed from the state financial allocation to bank for economic construction Loans; fixed assets Of basic depreciation fund Only 30% will be handed over to the state finance, and the rest will be retained by enterprises as the renovation fund, and some enterprises are allowed to retain all Depreciation of fixed assets Fund; The source of the fixed working capital is changed from the state financial allocation to bank loans; The source of special funds is mainly the retained profits after tax of enterprises. Implemented in state-owned enterprises“ Profit to tax ”Previously, enterprises had to pay the fixed capital and working capital allocated by the state finance Fund occupancy fee That is to say, the occupation fee payable is calculated according to the total amount of funds invested by the state in the enterprise and the collection rate, and is paid by the profits realized by the enterprise. The implementation of the method of paid use of funds has played a major role in improving the effectiveness of the use of funds, promoting enterprises to operate independently and assume sole responsibility for their profits and losses, and implementing the economic accounting system.

Opportunities and challenges

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Fund management training held by Boluo Consulting

The boss's understanding of the liquidity management report is the same as that of the vending machine. Press the button to automatically print the report. So I often suddenly asked the financial staff to report to him before he left work that day. The report management and business departments do not trust it. If you open and close your mouth, the data is wrong.

Liquidity management has become a major challenge for financial managers of Chinese enterprises. Platinum consulting members have reduced the accuracy of cash flow forecast of many companies from 100% to 5%. He mentioned that "the financial department often" litigates "with the business department. The business department said that the forecast data of the financial department was wrong, and the financial department said that the data source given by the business department was head slapping, which was deviation. Have you ever thought that such a circular debate is meaningless? The Finance Department should take the main responsibility. The data source must distinguish between what is controllable by the Finance Department and what is uncontrollable by the Finance Department. For controllable items, such as deposits, wages, loans, interests, investments, payments, fixed expenses, etc., you need to check whether they are really controllable. The overdue collection of acceptance bills and the uncertain collection time of payment cheques will lead to additional deviations, which means that the financial work is not done well and even the controllable ones are out of control. For uncontrollable projects, they need to rely on the data of the business department. " He also has his own unique insight on how to communicate with the business department. He said: "The key is whether we have enough understanding of how the business data is generated. For example, from historical accounting data, we can query whether customers delay payment and the scale of raw material procurement. The work of the finance department is to change the uncertain figures into certain figures as far as possible, and these data should be used for discussion with the business department. Using the 80/20 principle, we need to find responsible sales and regional credit managers to interview and verify with key customers and regions with large sales. "^[1]

Cash profit

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Frame diagram

It is well known that enterprises aim to make profits. At present, there are some enterprises that deliberately pursue high returns and profits. Therefore, there is often such a wrong idea that Enterprise profit A high value is an effective performance. Thus, to a large extent, it ignores the liquidity that should be reflected in profits. As a fund manager of an enterprise, he should be able to fully and correctly define the difference between cash and profit. Profit does not mean that the enterprise has sufficient working capital 。 Working capital, also known as cash flow, plays an important role in the healthy development of enterprises.

Cash Flow refers to the amount of cash inflows and outflows of enterprises in a period of time. When an enterprise sells goods, provides labor services, or sells fixed assets, or borrows money from banks, it will obtain cash and form cash inflows. In order to survive, develop and expand, enterprises need to purchase raw materials, pay salaries, build fixed assets, invest abroad, repay debts, etc. These activities will lead to the outflow of cash flow. If the enterprise does not have enough cash flow on hand to face the expenditure of these businesses, the result is conceivable. From the overall development of the enterprise, cash flow is more important than profit, and it runs through every link of the enterprise. In real life, we can see that although some enterprises have made a lot of profits on their books cash flow Failure due to insufficient resources; Although some enterprises have been losing money for a long time, they can rely on their own cash flow to survive for a long time. The sustainable development and operation of enterprises depend not on high profits but on good and sufficient cash flow.

Reasonable planning

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Fund management process

Cash management in the traditional sense mainly involves the inflow and outflow of enterprise funds. However, in a broad sense, cash management involves a wide range, usually including enterprise account and transaction management, liquidity management, investment management, financing management and risk management. Enterprise cash management It can mainly start from planning cash flow and controlling cash flow.

The planned cash flow is mainly achieved by using Cash Budget To determine a reasonable amount of cash budget and Optimal cash holdings 。 If the enterprise can accurately predict the cash flow, it can ensure sufficient liquidity. The cash flow forecast of an enterprise can be divided into short-term, medium-term and Long term forecast 。 Generally, the longer the term, the worse the accuracy of the forecast. What kind of cash flow forecasting method should be selected depends on the overall development strategy and actual requirements of the enterprise. At the same time, the cash flow forecast of an enterprise can also infer a reasonable cash stock from the inflow and outflow of cash.

The control of cash flow is important to the cash flow of enterprises internal controls 。 Controlling the cash flow of an enterprise is based on correct planning, mainly including centralized control of enterprise cash flow, collection and payment control, etc. The centralized management of cash will help enterprise fund managers understand the overall situation of enterprise funds, quickly and effectively control this part of cash flow in a wider range, so that the storage and use of these cash can reach the best state.

Basic concepts

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fund management （Funds Management） The main principles of Special funds The use limit of is generally not interchangeable; implement Plan management The use of various funds should not only meet the requirements of national planning tasks, but also effectively use funds according to the business decisions of enterprises; Unification and concentration should be combined with separate and hierarchical management to establish a responsibility system for the use of funds, so as to promote the rational and economical use of funds by all units within the enterprise; Professional management should be combined with mass management, and the financial accounting department should work with the relevant departments using funds to manage and use the funds together.

Main risks

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(1) Improper financing decisions lead to unreasonable or invalid capital structure, which may lead to high financing costs or debt crisis.

(2) Investment decision-making error, which leads to blind expansion or loss of development opportunities, may lead to Broken capital chain Or the efficiency of fund use is low.

(3) Unreasonable fund allocation and unsmooth operation may lead enterprises to financial difficulties or capital redundancy.

(4) Lack of strict control over fund activities may lead to misappropriation, embezzlement, withdrawal or fraud of funds.

financial crisis

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Shrinking market demand and increasing enterprise inventory

The slowdown of global economic growth caused by the financial crisis and the lack of investor confidence, on the one hand, caused Enterprise investment Inadequate, the demand for means of production is reduced, Enterprise benefits On the other hand, consumers' savings motivation has increased, reducing personal consumption. This has led to a sharp contraction in the market demand of the whole market, sluggish sales of enterprises, and overstock of enterprises' inventory. At the same time, due to the accelerated decline of market prices, the business risks of enterprises have increased sharply, the speed of capital turnover is slow, and the capital chain can not operate effectively, which has also affected the business performance of enterprises to varying degrees.

Difficulty in indirect financing of enterprises

System service management scheme

According to《 Securities Market Weekly 》It is estimated that some financial institutions in China suffered losses in overseas investment during the financial crisis, including Bank of China Loss amount The largest is about 3.85 billion yuan. CCB, ICBC, BOCOM, China Merchants Bank and CITIC Bank lost 576 million yuan, 120 million yuan, 252 million yuan, 103 million yuan and 19 million yuan respectively. These huge losses have made the major commercial banks improve their business prudence in the future development. On the one hand, they strictly regulate and implement the lending standards, strengthen the construction of internal control systems, and improve their own management ability; On the other hand, although China implemented an active and loose monetary policy in 2009 Credit scale And the amount of money released People's Bank of China According to the released data, new loans have gradually rebounded. However, due to the continuous warming of the financial crisis and the deterioration of enterprises' market-oriented business situation, banks are still reluctant to lend. It is difficult to achieve results in the short term. The prospect of enterprise financing is not optimistic, and the contradiction of enterprises' tight funds under the financial crisis environment will continue.

It is more difficult for enterprises to obtain funds through direct financing

Affected by the financial crisis, China's stock market was impacted, which led to the Shanghai Stock Exchange Index plummeting from 6124 points in October 2007 to 1638 points. Although the Shanghai Stock Exchange Index recovered in 2009, it has been hovering around 3000 points. The financial crisis has hit the confidence of investors and financial market It has produced demonstration effect. This makes it more difficult for Chinese enterprises to issue stocks or bonds for financing, and enterprises can alleviate the obstruction of working capital channels through direct financing.

The financial crisis triggered the crisis of enterprise capital chain breaking

The so-called capital chain refers to the basic circulating capital chain required to maintain the normal production and operation of enterprises. The capital chain is like the blood of an enterprise, and its circulation process can be briefly described as: cash - assets - cash. In order to survive and develop, enterprises must maintain the virtuous cycle. When an enterprise is difficult to realize its assets or has no assets to realize at all Cash flow Unsmooth or no disposable cash can not pay the matured debt, which leads to the crisis of capital chain rupture. Due to the difficulties of direct and indirect financing, the decline of product demand and the internal operation and management of enterprises, the capital chain of enterprises is broken.

Existing problems

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The fund management awareness is weak and the management system is not perfect

System service management scheme

Some enterprise leaders have weak awareness of capital management and no capital time value. When enterprises have money, they don't know how to plan and use it. When they don't have money, they worry. They don't have a sense of long-term budget fund management. The whole circulation of funds is lack of scientificity and unity and coordination, and the time value problem is not fully considered in financial management. The cash flow is Enterprise financing The key to the use of funds. Fund management mainly includes: balance Management and fund flow management. Some enterprises do not have a good understanding of capital management and one-sided pursuit of output and output value. Especially in the context of the current financial crisis, enterprises should conduct reasonable assessment and daily monitoring of product development and future risks, so as to avoid products occupying large amounts of funds and investing in high-risk projects.

The fund management mode does not adapt to the actual situation of enterprises

Some enterprises have not established a sound fund management model, and some have established it, but it does not adapt to the actual situation of enterprises. Generally speaking, there are two fund management modes: Centralized fund management Mode and decentralized mode. Enterprises are generally divided into single enterprises and group enterprises. Enterprises should establish a fund management mode suitable for enterprise fund management according to the actual situation. Generally speaking, centralized fund management is beneficial to the centralized control and unified allocation of funds, but not conducive to the enthusiasm of member enterprises or branches. Member enterprises or branches rely too much on enterprise groups in terms of funds. If the supporting measures are not in place, it may affect the turnover speed of funds and affect their ability to respond to the market. Decentralized fund management is conducive to mobilizing the enthusiasm of member enterprises or branches, but it is difficult to avoid fund dispersion Fund utilization rate Low, large proportion of deposited funds, funds Usage cost High inherent disadvantages. Due to the inherent shortcomings of centralized and decentralized models, enterprises should focus on combining the advantages of the two models and selecting them according to the actual dynamic mix of enterprises. The fund management mode of Chinese enterprises is unscientific. For example, some group companies have not yet set up a fund center and have no centralized fund management mechanism; Most subsidiaries do not have a sense of overall situation and an overall view, which is reflected in the daily management of funds, which is diverse, independent, high in both deposit and loan, and there are some vacuum areas [3].

Backward fund management means and low efficiency

With the rapid development of various enterprises, there are more and more enterprises operating across regions, which leads to the problem of how to control and manage enterprise funds. Some enterprises pay a heavy price in the process of enterprise operation because of backward capital management means and insufficient capital control ability, which makes the efficiency of capital use low. In particular, large group companies have a large number of member enterprises, a wide geographical distribution, out of control fund management, lack of monitoring means, and low capital utilization rate. Its outstanding performance is that: due to the lack of a unified fund management system in enterprise groups, the impact of various subsidiaries and businesses on fund flow has not formed a complete and related information, which is difficult to effectively supervise and has a high risk; Due to the lack of unified management and planned use of funds, some enterprises are short of funds and can only borrow from banks, while some enterprises are rich in funds but can not use them for enterprises lacking funds. Instead, they can only borrow from banks to increase their Financial expenses , which led to the rise of the capital cost of the entire enterprise group, Resource waste And inefficient use of funds. These problems seriously restrict the healthy development of enterprises, and may even threaten the survival of enterprises under the current situation.

Inadequate capital risk management, causing serious financial risks

Under the current situation, enterprise systems and Unsystematic risk Larger. However, some enterprises do not pay enough attention to capital risk management, which is mainly reflected in the imperfect financial system, disordered account management, and the failure to handle capital allocation according to the process and authority, resulting in the loss of enterprise funds; Illegal external guarantee or serial guarantee will bring unnecessary economic responsibility and legal responsibility to enterprises, which will lead enterprises into the quagmire of guarantee litigation.

control measures

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cash management

First of all, enterprises should establish the concept of unified management of funds. Whether it is a single enterprise or a group enterprise, under the current situation, funds should be managed and used in a unified way. Secondly, establish the concept of cash flow, and provide cash flow information for managers in the specific work of financial management, except for the information provided at the end of the year Cash Flow Statement In addition, we can prepare cash flow plans and short-term Cash flow forecast Reporting and Long term cash flow presentation. It is necessary to strengthen the control and analysis of cash flow, strictly control cash inflow and outflow, and ensure that enterprises always have the ability to pay and Solvency 。 Finally, to improve the risk awareness of enterprise capital management, it is necessary to fully estimate the risks of each project and invest capital cautiously.

Raise the level

In the current situation, whether it is a single enterprise or a group enterprise, centralized fund management is the inevitable trend of development. The implementation of centralized management of enterprise funds plays an important role in the survival and development of enterprises. It helps enterprises to improve the overall capital chain, maximize the overall interests, focus on the adjustment of strategic direction, and effectively reduce the Control costs Improve the overall credit rating of the enterprise, reduce financial costs, optimize the fund management system, and improve the efficiency of the use of funds. Once the enterprise conducts centralized fund management, the enterprise can collect the funds of each sub account according to its own needs, strengthen the integration and overall management of internal funds, achieve mutual balance of internal funds, and improve the use efficiency of funds.

Financial software

With the development of computer information technology, enterprises can vigorously apply computer technology in the implementation of centralized management and monitoring of funds. New capital management means and models are vigorously used in enterprises. Computer network technology and unified financial management software are the effective carriers of advanced management ideas, management models and management methods, and also the inevitable choice for implementing centralized capital management and effective supervision and control. Secondly, with the help of ERP system To improve the efficiency of enterprise capital management. ERP system simplifies the process between purchase, sales and finance, makes full use of the data information exchange between finance and other businesses, improves the management efficiency, makes the fund management run through every link of the business process of the whole enterprise, monitors every link of the enterprise in real time, and effectively exerts the financial supervision mechanism.

Strengthen supervision

First of all, strengthen internal management, strictly monitor and analyze contract approval in advance, implementation in the event, and evaluation after the event. Enhance the awareness of risk prevention and establish a risk early warning mechanism. Carefully sort out the use of funds at various risk nodes such as purchase, sales and inventory of business, monitor the possible risks in real time, and effectively deal with them Risk Management At the lowest. Secondly, actively carry out internal audit and move forward the supervision threshold. The internal audit of an enterprise is an important link for strict supervision and assessment of the financial capital management of an enterprise, as well as a guarantee for strengthening the supervision and restraint mechanism and making the budget effective. Perfect the internal audit supervision and assessment system to ensure the authenticity and reliability of enterprise financial information. The past "post supervision" has changed into pre supervision, in-process supervision and timely supervision. Focusing on the development goals and annual budget of the enterprise, the company tracks and monitors the flow of funds, changes in financial conditions and other situations throughout the process, checks regularly, gives feedback in time, and takes precautions to ensure the seriousness of the budget and the timely realization of the enterprise's development goals. Through the above two efforts to ensure the safety and integrity of enterprise funds [4].

Broaden channels

Qualified enterprises actively obtain support from the government and financial institutions, and obtain financial support. At the same time, enterprises should actively expand financing channels according to their own actual conditions. Can be implemented in terms of endogenous financing Employee stock ownership plan Financing and pledge of advances from customers account receivable financing , patent pledge financing, property rights transaction and other endogenous financing methods. In terms of external financing, in addition to relying on traditional external financial support, such as bank deposit , venture funds, issuing bonds or listing of enterprises, etc., and strive to seek financial mutual assistance and cooperation between enterprises. Enterprises with conditions can consider innovative financing methods such as venture capital, financial leasing and equity financing

case analysis

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This case mainly introduces the plan of a commercial bank to build a three-dimensional fund monitoring system for a provincial telecommunications company, and reveals how enterprises can achieve highly centralized management and all-round monitoring of funds with the assistance of commercial banks, improve the operating efficiency of enterprise funds, so as to control financial risks, optimize capital structure, improve capital returns, reduce capital costs The purpose of promoting enterprise value.

Case background

China Telecom Corporation Limited (hereinafter referred to as "China Telecom"), after completing the acquisition of domestic subsidiaries, in order to narrow the gap with the requirements of the capital market, strengthen the overall capital dispatching ability, implement refined capital operation, and establish a dynamic capital monitoring system, hopes to build a unified national capital control system, build a three-dimensional capital monitoring system, and improve the control ability of provincial companies on internal funds, Realize highly centralized management and all-round monitoring of funds, improve the operating efficiency of enterprise funds, so as to control financial risks, optimize capital structure, improve capital returns, reduce capital costs, and enhance enterprise value. Since the first half of 2004, China Telecom has implemented the fund management and control project in provincial companies step by step, with provincial telecommunications as the core, providing integrated and real-time fund information services for provincial telecommunications, municipal and state branches.

Main business

The main demands of a provincial telecommunications company limited (hereinafter referred to as a provincial telecommunications company) are:

1. Account management. All accounts belonging to a certain province's telecommunications are included in the system management, including timely reflection of account changes.

2. Fund collection. Realize the automatic collection of all the funds in the four level revenue accounts of the provincial company, the county company and the business hall at the end of the day, and implement Zero balance account Fund remittance and transfer to reduce fund precipitation. The capital collection process is as follows: payment account of branch office, payment account of county branch, income account of Douxian branch, payment account of municipal company, income account of municipal company and designated account of provincial company. The funds are transferred level by level every day.

3. Fund allocation. Realize the function of zero balance payment in the daytime of provincial companies to local companies and county companies' expense accounts (cost account and project account), the function of controlling the limit of periodic cumulative payment, and the function of automatic collection of negative balance of daytime overdraft at the end of the day.

4. Real time query of fund information. Through direct connection with the banking system, we can concentrate capital information and strengthen the analysis of capital inflow and outflow laws, working capital efficiency, income return and liquidity risk.

5. Dynamic monitoring of capital flow: grasp the information of accounts at all levels and capital inflow and outflow in real time, dynamically monitor account opening and large capital flow, and reduce capital risk.

6. Actively initiate fund transfer and allocation (mainly quota allocation) through the system to realize the internal fund settlement function.

7. Provide banks to the financial system through the banking system Electronic statement , realize automatic reconciliation and generate accounting vouchers, reduce workload and error rate.

Schematic diagram of centralized fund management structure mode

Implementation plan

According to the business needs of a provincial telecom, the final plan is to adopt Corporation Overdraft +The project implementation plan is formulated for the three main product combinations of ordinary bank enterprise interconnection+professional bank enterprise interconnection.

（1） Account establishment

The provincial company opens a settlement account in the local ICBC, and applies for bank enterprise interconnection in general, bank enterprise interconnection in professional and corporate account overdraft to collect revenue, allocate expenses and handle other external settlement businesses (the deposit bank of the provincial company is hereinafter referred to as the undertaking bank). All municipal companies, directly affiliated institutions, county-level branches, and business offices open three accounts of income, cost, and engineering with ICBC, of which the special account of income is used to collect, deposit, and transfer all kinds of income. The account is controlled by the purpose of capital, that is, the account capital is not transferred to the provincial company account, and ICBC assists in management without other payments; The special account for cost and engineering is used to handle various payment businesses. The account is controlled by the source of funds, that is, except for various fees transferred from the company's headquarters account and the refund business paid from the account, ICBC assists in the management of not accepting other income funds, and applies for the account's daytime overdraft service. The opening banks of telecom branches and business offices at all levels (hereinafter referred to as co organizing banks).

（2） Collection of revenue accounts

Automatic collection of revenue accounts is set in the professional bank enterprise Walian system level by level, and the method of full fund transfer is adopted (the minimum execution limit is 0 yuan).

fund management

（3） Zero balance management of cost and engineering account

The zero balance management mode of line control+daytime overdraft+daily return to zero is adopted for cost and engineering households.

1. Clearing process. Under the condition that the accounts at all levels do not exceed the amount of money used in the current month, overdraft occurs directly when making external payments. At the end of the day, the system automatically liquidates all cost accounts and engineering accounts that incur expenditures, and uses the funds from the comprehensive account of the provincial company to fill in the amount of intra day expenditures of the prefecture city and county companies level by level, so that the balance of all payment accounts of the prefecture city and county companies will eventually return to zero.

Balance of comprehensive account of provincial companies at the end of the day=daytime balance - amount paid by companies at all levels on a daily basis

2. Management of loan limit. The amount of money used is the payment control limit of a certain province's telecom for the zero balance cost of each branch company and the project account, and ICBC will set the account overdraft for the zero balance cost of a certain province's telecom and the project account payment accordingly. The prefecture and city telecom branches declare the monthly payment limit of cost account and engineering account to the provincial telecom according to the capital budget, and the provincial telecom will review and verify the payment limit adjustment table, and automatically transmit the payment limit adjustment table to the general online banking internal management system through the bank enterprise interconnection interface limit. The undertaking bank and the co sponsoring bank will actively query the approval results and be responsible for the adjustment processing, The amount shall be allocated between the cost account and engineering account of the company at the same level and county level within the jurisdiction.

fund management

Case comments

This case mainly uses bank products to design a reasonable account structure and fund dispatching route for enterprises, assist enterprises in controlling account balance and cash flow, and achieve the requirements of enterprises for account setting, fund collection, dynamic monitoring and management; Through the docking of cash management consulting and banking products, help enterprises achieve the purpose of improving capital operation efficiency, reducing capital risks and saving capital costs.

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