| With the rapid development of economic globalization, the increasing number of large enterprisegroups and the scale is also growing. The main feature of this enterprise group is wide distribution,business diversification, organizational structures and complex. Financial management of large enterprisegroups have attached great importance to capital management. The important factors affecting thecomprehensive strength of the enterprise group is how to maximize the fund scale advantage andsynergistic effect of improving resource.Centralized management of funds model is considered a large group funds management to from.The group uses a centralized management of funds model. It not only to optimize the allocation of fundswithin the group, to improve the efficiency of the funds and to reduce the risk of funds management, butalso strengthen the group headquarters of the member units of the financial supervision and improve themember unit cohesion. The organization form and mode of centralized management of funds is diverse.These include reimbursement center model, the mode of settlement center, internal bank, finance company.By comparative analysis of four models, the finance company with independent legal person structure,professional funds management and professional financial services and other advantages, so the largeenterprise groups are mostly used this model. Finance companies not only provide funds and financialmanagement services for enterprises, but also contribute to the high profits. Our country supports themeasures of development of large enterprise groups is the establishment of a finance company. The financecompany adhering to the "relying on the group, service the group" concept and to maximize their internalsettlement functions as investment function, financial advisory function. That provides a full range offinancial management service for the enterprise and eventually become a fast and good development of thebooster in the group. However, the finance company model still exists many problems in the centralizedmanagement of funds process, such as low effectiveness, weakening bill pool funds management functionsand imperfect corporate governance structure etc.HY finance company is an independent legal institutions jointly funded by the HY group and thegroup members of the unit. It is through the construction of a capital account, capital budget and bill pool management system, for transactions between payments and receipts, insurance agency, approved toprovide security, the member units of the entrust loan business for the member unit. It establishes theconstruction funds, funds accounts and bills pool management system that to complete the transactionbetween members of payments and receipts, insurance agency and approved to provide security etc. HYgroup using financial funds centralized management that the efficiency of fund and turnover rate of fundsare improved greatly, the financial costs decreased significantly, and the level of financial managementsignificantly improve. But the centralized management of funds also exposed many problems, such as lowlevel of information technology, the pool low efficiency of management, capital budget deviation etc. Thesewill lead to insufficient funds management functions. This paper focus on the HY finance companyfinancial management problems are found, one by one analysis and provide suggestions to solve theproblem. Such as making method of capital budget scientific and innovative financial products and theintroduction of external funds etc. HY finance company to implement centralized management of fundsproblems is also a weakness in the other finance companies in China. So this article wants to centralizedfunds management of HY finance company as the research object, analyzes the present problems in theprocess of management problems and puts forward related suggestions to solve the problem. Hope that thefuture can improve the management of HY finance company funds, also can play a reference for otherdomestic finance companies. |
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