CBS助力破解企业资金管理重大难题招商银行连续四年获评“中国本土最佳现金管理银行”

深圳一家大型知名国企在全国有成员企业几百家．结算中心多家,账户和资金管理工作置巨大,管理效率急需提高。这家大型企业在采用招商银行“跨银行现金管理平台”（Cross-bank Solution for Cash Management,简称CBS）后,资金管理水平大为提高．财务成本则大幅下降：首先．集中管理成功降低了企业资金存置,平均可减少资金存置15—40％．大大提高了集团资金使用效益;     

招行力推中小企业现金管理电子服务渠道

招商银行近日六度蝉联亚洲货币“中国本土最佳现金管理银行”,电子银行渠道与现金管理平台高度整合是关键。招商银行现金管理部总经理左创宏表示：“招商银行形成了特有的一个渠道、三个平台的产品服务体系,即电子银行渠道＋现金管理平台＋电子供应链平台＋金融电子商务平台,通过将专业的平台产品搭载到可快速复制、大面积推广的电子渠道。     

当金融遇上互联网——商业银行如何寻求新生产函数的最优解

正左创宏,高级经济师,招商银行总行现金管理部总经理。长期以来在招商银行负责互联网金融及现金管理领域的产品研发与管理工作,创新网上企业银行、跨银行现金管理平台CBS等多项业内具有突出竞争优势和广泛影响力的电子金融系统和产品体系。作为中国经济中最活跃的因子,金融与互联网的深度融合加速推动了社会生产方式的转变。身处这一变革浪潮之中,商业银行有必要回归金融最基本的逻辑,寻求新生产函数的最优解。     

打造国内一流的现金管理品牌——招商银行总行公司银行部副总经理左创宏访谈

作为中国最优秀的商业银行之一,招商银行近几年来在现金管理领域有着卓越的表现,取得了一系列令业界瞩目的成就,连续4年获得《亚洲货币》评选的“中国本土最佳现金管理银行”。招商是怎么做到的？优势是什么？未来又有什么规划？我们通过采访招商银行在现金管理领域的领军人物左创宏先生,揭示中国本土最佳现金管理银行的管理特色。     

光大银行获“最佳现金管理银行”

（本刊讯）近日在北京召开的2010年中国现金管理行业高峰会上,光大银行凭借近年来在“现金管理平台账户”、“现金池委贷”、“内部资金计价”、“子账户非授信透支”、“集团票据池”等多项现金管理业务产品上的创新以及在团队建设方面的优势,荣获“最佳现金管理银行——团队之星”奖。     

宁波银行集团财资管理系统正式上线

正2013年12月上旬,宁波银行与深圳市拜特科技股份有限公司合作开发的集团云现金管理平台——"TMS集团财资管理系统"成功上线,标志着宁波银行在中高端客户现金管理服务方面迈出重要一步。集团财资管理系统是宁波银行针对集团企业普遍面临的存贷双高、账户分散、资金运营与管理缺少有效工具的难题,旨在依托科技与专业化服务优势,为集团企业打造标准化的"内部银行"资金管理体系。同时其支持与多家银行直联对接,并通过授权管理和预警机制确保资金安全,尤其适用于大中     

银行如何进行现金管理？

银行现金管理服务目前主要有以下两种途径：1．企业向银行授权，完全依托于银行的业务系统实现管理；2．银行凭借强大的研发能力为优质客户量身订制个性化的现金管理方案，与客户的ERP进行无缝对接，实现企业资金管理高度自动化。[编者按]     

现金管理，正逢其时

全球金融危机爆发以来,无论是企业还是银行都对现金管理提出了更高的要求。“是您适应服务,还是服务适应您？”招商银行在其刚刚举办的第四届现金及财资管理年会上打出的标语,寥寥数字即点出了下一步商业银行现金管理业务的发展方向。     

现金管理的国际化较与启示

现金管理的发展背景已完全不同 左创宏[招商银行公司银行部副总经理]：在国内，招商银行是比较早就开发现金管理业务和产品体系的银行。 目前招商银行现金管理产品的幅度、深度都是相对比较丰富的。招商银行的现金管理分为五大类：     

平台经济与商业银行交易银行策略的实施

平台经济既是经济全球化和信息技术以电子商务为载体进步的产物,也是我国经济结构转型、发展服务经济和海洋经济的需要,推动了经济运行模式和产业结构的调整.而随着金融脱媒、利率市场化和金融监管的强化,交易银行策略也成为国内商业银行转型的必然选择.交易银行是对传统的供应链融资,以及支付结算、现金管理、资金托管、电子银行渠道等银行服务的整合,对平台经济的发展具有强烈的支撑作用.文章最后对交易银行策略的实施和发展提出了具体对策和建议.     

Consumer-driven health care: the future is now

Given that managed care seems to have run its course, employers are forced to deal with escalating health care costs by reducing benefits and lowering pay--or are they? Why not bring the power of the responsible, informed consumer to health care? Consumer-driven health care offers a new, economically rational direction that can simultaneously address the needs of both employers and employees. This article reviews the factors leading to the need for consumer-driven health care and describes the characteristics and benefits of its current and next generations of development.     

Diversification benefits of commodity futures

The finance literature seems to be in support of the diversification benefits of adding commodity futures to an existing portfolio. Yet no empirical work has been performed to test whether the benefits are indeed statistically significant. This paper addresses several unresolved issues concerning the potential diversification benefits of commodities. First, we attempt to ascertain whether the alleged diversification benefits exist and are statistically significant. Second, to what extent are the diversification benefits unique to US investors? Would investors of a resource-based economy like Canada also benefit from adding commodities to their portfolios? Third, recent studies indicate that correlations among international equity returns are higher during bear markets than during bull markets. This type of regime-switching correlation behavior will mean lower diversification benefits from international investments when investors face a bearish environment at home. Do commodity futures display the same type of regime-switching behavior? To what extent do commodity futures offer real diversification benefits that are robust over time and across regimes? Finally, commodities may appear to be an asset for the more adventurous investors with higher risk tolerance. We want to know what type of investors should hold commodities. We demonstrate that the diversification benefit of commodities is a far more complex phenomenon than often understood in the finance literature.     

One Share - One Vote: the Theory

The theoretical literature on security-voting structure canbe organized around three questions: What impact do nonvotingshares have on takeover outcomes? How does disproportional votingpower affect the incentives of blockholders? What are the repercussionsof mandating one share - one vote for firms' financing and ownershipchoices? Overall, the costs and benefits of separating cashflow and votes reflect the fundamental governance trade offbetween disempowering blockholders and empowering managers.It is therefore an open question whether mandating one share- one vote would improve the quality of corporate governance,notably in systems that so far relied on active owners.     

On the value of restrictive covenants: Empirical investigation of public bond issues

Are restrictive covenants effective mechanisms in mitigating agency problems? Is the magnitude of the increase in the cost of debt due to agency problems non-trivial? We tackle these questions using a large dataset of public bonds. Contrary to the view that restrictive covenants in public bond contracts are standard boilerplates that serve little purpose, we find significant benefits in terms of reduction in the cost of debt associated with covenants. Restrictions on investment activities or issuance of higher priority claims reduce the cost of debt by about 35–75 basis points. These findings suggest that investors view bond covenants as important instruments in mitigating agency problems, and an increase in the cost of debt due to agency problems could be substantial. Additionally, we find that high growth firms and firms with low probability of default are less likely to include covenants suggesting that the costs of covenants outweigh benefits for these types of firms.     

Beliefs and actions: expectations and savings decisions by older Americans

To understand the interaction of savings behavior, pension fund participation and expectations of retirement well being, we ask two questions. Are expected pension benefits a substitute for accumulated savings in replacing preretirement income? Are individuals’ expectations concerning their retirement standard of living realistic based on their accumulated savings and pension plan participation? First-wave data from the Health and Retirement Study (HRS) are analyzed using a probit regression. The results are consistent with the idea that pension benefits are substitutes for saving and that accumulated savings have a significant impact on the expected standard of living but pension plan participation does not.     

构建新经济:WTO对中国意味着什么?

<正> 朱民:中国加入WTO,就意味着中国全面融入世界经济,这意味着三方面的内容,第一,中国的生产必须按照世界的需求来配置资源。第二,对生产的管理和整个     

中国经济能够迅速地转型吗?

<正> 厄本·莱纳:中国是否有能力迅速转型本身是一件十分重要的事情,特别是当我们讨论到人力资本的时候。海外留学生回归中国的趋势,有点像种子基金,可以让中国更好地走向知识经济,所以,当我们说到知识经济,说到网络经济的时候,我们必须注意这一系列的问题。在硅谷有丰富经验的人,都是非常杰出的人。我知道在硅谷有很多华人科学家,工作非常勤奋,从事着关键技术的研究。樊纲:刚才说到,在美国的留学生已     

Cofinanced Public Extension in Nicaragua

How effective is agricultural extension? Is it worth the vastsums governments spend to provide it, mostly as a free service,to farmers worldwide? Relatively few studies exist that measureand compare the benefits of extension activities against theircosts. In the absence of such data, this pilot activity concentratedinstead on demand. Would demand for extension services be highif they were no longer free? The existence of solid demand wouldpresuppose some benefits from the service. Further, might chargingfor the service actually improve its quality and sustainability? The pilot program in Nicaragua described here set out to testwhether a truly demand—driven extension system aimed atfarmers with small-and medium-size holdings could be developed.The principal mechanism was a contribution by the farmer paidas a bonus to the extensionist: the aim was to introduce incentivesfor providers to improve the service through rewards linkedto the quality of their work and to establish direct accountabilityof extensionist to client. The outcomes showed that the cofinancingconcept can be successful. The article describes the design,implementation, and results in the expectation that the lessonslearned may be of interest elsewhere.      

Flexible benefits and managed care: making it work

The concept of integrating flexible benefits and managed care may seem contradictory. Flexible benefits seek to maximize choice, while managed care attempts to restrict choice. Can these two disciplines be intertwined without delivering conflicting messages to employees? The answer is definitely yes. By following some basic ground rules in design, flexible benefits and managed care can be combined effectively in a way that is attractive to both employers and employees. This article presents some general guidelines for designing a successful "managed flex" program and raises other issues as well, including financial, administrative and communication concerns.     

Family support benefits: individual utility and organizational outcomes

How much do employees value the various family support benefits offered by employers? A recent survey finds a correlation between employees' perceived utility of certain benefit programs and job satisfaction and performance.