On June 27, Industrial Bank (IB) held a promotion meeting for cash management service solutions for energy industry in Xi'an, Shaanxi. At the meeting, considering the overall development trend and characteristics of the energy industry, the bank analyzed the demands of enterprises at all links of the sub-industrial chains in every industrial segment and released a variety of cash management service solutions, devoting itself to improving the capital management efficiency and enhancing the capital management benefits of the energy industry. Senior executives from 36 enterprises including Shaanxi Coal and Chemical Industry Group, Shaanxi Yangchang Petroleum Group, Zhengzhou Coal Industry Group, Chongqing Energy Investment Group, and China Taiyuan Coal Transaction Center, etc., and heads and experts of IB Head Office and branches attended the forum. It is reported that the bank has held special promotion meetings for the medicine and education industries, offering individualized cash management solutions considering the characteristics of different industries.
IB indicated that, with the development of the national economy, the scale of energy industry had kept growing and various problems caused by the fact that capital management levels of energy enterprises fell behind the business scale expansion during the development had been becoming increasingly prominent. For instance, limited financing channels, and high financial cost; excessive accounts receivable, and tense capital turnover; dispersed capital management, and frequent occurrence of “high deposits, heavy loans and high financial cost”; ineffective capital supervision and control, and low information transparency; out-of-date collection mode, and limited expansion in scale; weak budget management, and low capital utilization. These problems greatly disturbed the further development of energy enterprises.
How to support the energy industry to improve the level of capital supervision and control with advanced information technology and efficient capital management platform has become a question attracting extensive attention of the energy industry. Against this background, IB made in-depth exploration into the business model, development trend and business features of the energy industry at home and utilized the characteristic products and value-added services under “Gold Cube”, the cash management brand of the bank to provide a range of customized overall financial service solutions to energy groups and their affiliates.
Considering the problem that the long production period and incompact and incomplete budget management of energy enterprises directly influence the implementation of their capital plans, IB offered refined budget management scenarios to gradually cultivate and improve the capital forecast and control capabilities of enterprises through the funds collection and payment under the budget control. And then, by learning and analyzing the capital plan, plan implementation and capital information in a real-time manner, the enterprises might achieve an all-course management over the plan before, monitoring during and analysis after the capital management, thus solving the problems of inaccurate capital budget, and deviation of budget from the actual needs. In this way, the enterprises could effectively improve their efficiency in capital utilization.
Considering these energy enterprises engaging in gas, electricity and heat supply have a broad business scope, a large number of customers and a lumping load in collecting fees, IB released the payment and collection management service program which effectively solved the problems of energy supply enterprises in batch collection of fees and funds depositing by dispersed collection outlets in a centralized manner by combining the multi-channel payment and collection services and "Business Express” POS collection service with its efficient and fast capital aggregation and transfer and other businesses. In this way, the bank resolved the urgent problems of energy supply enterprises in expansion.
Additionally, IB, based on its rich experience, provided a variety of service solutions such as capital pool management service solution, bill pool management service solution, wealth management service solution, supply chain finance service solution, and trading market service solution. In combination with its professional technical strength and superior service capacity, the bank fully catered to the individualized cash management demands of different enterprises at different links of different sub-industrial chains and in different stages of capital management development in the energy industry, so as to help customers in the industry to improve their capital management levels and capital gain level and achieve the optimized cash management and maximized capital gains.