Building a Treasury Management System: Digital-Intelligent Transformation Breaks Down Data Barriers_Trends_北京智达方通科技有限公司

In early February of this year, the State-owned Assets Supervision and Administration Commission (SASAC), in its document "Optimizing the Operational Indicator System of Central Enterprises to Accelerate the Achievement of High-Quality Development," proposed that in 2023, focusing on building a world-class financial management system, key tasks in financial management would include: firstly, using comprehensive budgeting as the framework to implement the goals and responsibilities of high-quality development; secondly, leveraging the treasury system as a key initiative to enhance the internal momentum for high-quality development; and thirdly, emphasizing financial final accounts to solidify the management foundation for high-quality development.

Among these, the construction of a treasury system, as an advanced model and system for fund management, has been elevated to the agenda. In the "Notice on Issuing the 'Opinions on Promoting Central Enterprises to Accelerate the Construction of Treasury Systems and Further Strengthen Fund Management'", SASAC set critical deadlines, requiring central enterprises to advance the construction of their treasury systems with high quality. They must ensure that by the end of 2023, a "intelligent and user-friendly, penetrating and visible, powerful, and secure and reliable" treasury information system is basically completed. This ensures the safe and efficient operation of funds while utilizing advanced information technology and algorithmic models to deeply mine data value, strongly supporting scientific decision-making and strategy implementation.

Executing comprehensive budgeting and financial final accounts well, and promoting the construction of a treasury system, are vital means for modern enterprise groups to improve their financial control capabilities. With increasing economic uncertainty and tightening regulations, the establishment of corporate treasuries is particularly urgent. Intcube, leveraging its deep understanding of treasury management-related policies and based on multidimensional database technology as well as leading practices in building comprehensive budget systems and fund management systems across various industries, provides solutions for enterprises' digital treasury system construction, from informatization to digital transformation.

What is a Treasury Management System?

The term "treasury" originates from the English word "treasury" and is a component of asset-liability management. It refers to the management of all funds and their associated interest rate risk, liquidity risk, and exchange rate risk. As the market environment becomes increasingly complex and emerging technologies continue to develop, treasury management has gradually evolved into a complete system, becoming a modern corporate governance method with strategic orientation and a global perspective.

The SASAC's guiding opinions on treasury construction for the first time explicitly proposed the definition of a treasury management system: A treasury management system is a modern enterprise governance mechanism where enterprise groups, relying on management platforms such as finance companies and capital centers, utilize modern network information technology. It focuses on fund concentration and information centralization, aims to improve fund operational efficiency, reduce funding costs, and prevent and control fund risks, and is guided by serving strategy, supporting business, and creating value. It enables real-time monitoring and overall scheduling of corporate funds and other financial resources.

How to Build a More Comprehensive Treasury Management?

Corporate treasury management supports unified allocation of financial resources, optimized fund allocation, and centralized risk management for group enterprises from a higher strategic decision-making level. With the help of a new generation of digital technology-based treasury information systems, enterprises will be able to centrally manage funds, assets, and resources, thereby preserving and efficiently utilizing all assets. This effectively avoids issues such as low efficiency in fund usage and severe idle waste of funds. More importantly, it allows for preventing fund risks from the perspective of enterprise or institutional interests, enabling companies to flexibly respond to various challenges encountered during operation and management.

01 Build a Visual Treasury Management System

In the past, collecting business data and financial information required collating and reporting level by level, often taking months to compile reports, consuming significant manpower and material resources. Additionally, data needed repeated verification, likely leading to omissions. Establishing a visual and controllable treasury system can save enterprises considerable manual labor and time. Modern treasury management discards the conceptual and technical limitations of traditional fund management, aiming to create greater value at the enterprise operation level. Through deep business-finance integration and a high degree of digitization, combined with automated and intelligent systems, treasury management becomes clearer and more transparent, allowing for the formulation of more scientific and complete management systems.

02 Rely on Innovative Technology for Coordinated Development

With continuous technological innovation and development, corporate treasury management can utilize advanced technologies to achieve the strategic goal of efficient fund operation. By promoting informatization construction, the treasury management system can be optimized and upgraded. This includes combining functional modules covering account management, fund settlement, fund concentration management, internal deposit and loan management, etc., and interfacing with external comprehensive budget management systems to reduce costs and increase effectiveness. Furthermore, the digital process drives enterprises to interconnect the treasury management system with internal relevant data and external data. By analyzing business data in real-time, it enables fund forecasting and risk early warning, further achieving panoramic visibility and intelligent decision-making in treasury management.

03 Deeply Mine Data Value

Data plays a huge role in the treasury management system. However, with the impact of massive data, data quality has become one of the headaches for enterprises. Achieving high-quality data pooling requires enterprises to integrate various business data, unify calibers and standards, thereby achieving data interoperability. Based on a unified data governance platform, it should synergize with other modules within the treasury system and utilize data visualization technology to solve data problems. Additionally, enterprises need systematic data integration, breaking down internal and external information barriers and eliminating data silos. Through effective data governance, ensuring real-time and accurate data flow, the ultimate aim is to achieve integrated control of resources and risks within the treasury management system, eliminate information silos, and mine data value.

04 Establish a Digital-Intelligent Fund Control Platform

To improve the foresight and real-time nature of comprehensive budget management, establishing a digital-intelligent treasury management system is imperative. This requires enterprises to target strategic plans, identify management pain points, and establish forecasting models. Technology-based fund planning, compilation, approval, and execution analysis should be implemented from the bottom up. Simultaneously, enterprises need to start by sorting out data sources and standardizing data carriers, establish a data governance system by formulating data standards, release data value, and enhance data usability. On this basis, system construction centered on culture, organization, talent, and systems should be carried out to further advance the digital-intelligent process of the treasury management system.

In summary, after implementing treasury construction, enterprises can achieve functions such as transparent management, data sharing, and multi-department coordinated operations. Through scientific analysis, it provides operational and decision-making suggestions for the enterprise, allowing the system to predict future business data and become an important driving force for enterprise development. Digital-intelligent treasury construction upgrades enterprise financial data, control processes, and information systems, breaks down data information silos, greatly mobilizes the work enthusiasm of various departments, and enables departments to clarify their strategic goals. Through a centralized management model, enterprise leaders can achieve top-down unified management, further supporting the efficient realization of treasury management value.

In today's business environment, where opportunities and challenges coexist, only by actively grasping new technologies, continuously mining data value, and transparentizing management processes can enterprises achieve comprehensive improvement in creativity, competitiveness, and operational capability in the digital-intelligent era. The modern treasury construction system helps enterprises add depth to strategic decisions. Improving the level of treasury construction has become an inevitable choice for enterprises under policy and digital transformation. Intcube will help enterprises enhance fund management efficiency, strengthen risk prevention and control, reinforce strategic and decision support, and assist enterprise managers in preparing for the arrival of the wave of digital-intelligent treasury construction.