Simulation of processing financial and economic information in the integrated information systems of the treasury
Journal Title: International Journal of Marketing and Technology - Year 2017, Vol 7, Issue 8
Abstract
Intoduction.At the formation of the treasury structures within some enterprises and holding companies on the basis of the systematic approach it is supposed to conduct activities in two stages. Thus, if the first one supposes creation of the model of the treasury that enables to identify and formalize key structural and functional characteristics of the units, which main purpose is the efficient management of financial flows, the second stage assumes transformation of the model into the form of organizational documents and automated procedures to create a complete management system. This process is completed by implementing the system into production and its further interactive improvement through performing analysis of operating practices. The most appropriate modeling tool for the rapid achievement of practical results is the application of structural-functional simulation. Within the framework of the general systematic approach two major tasksare solved: the structure of the governing body is created and the key functional areas of the activity are determined. Two types of the treasury are structurally determined– centralized and decentralized, which is very typical for geographically-spread holding structures. Meanwhile, in recent years, many holdings have experienced significant organizational changes, including restructuring and centra- lization of their basic functions.Concentration of assets and centralized management are the main tools of transformation of the organizational-economic model of restructuring which was applied in most companies regardless of industry and scope of activities. Thus, their intention to take overall control over cash flows has made the treasurythe most important object of centralization regardless of the objective reasons of the modernization of the financial management of the enterprises. It should be noted that it is not always recommended to conduct sophisticated and expensive process of the treasury centralization. Thus, the following factors justifying the need for centralization and clearly defined roles of the treasurycan be determinedbetween the head office of the holding company and its subsidiaries: - unification of the diversified assets with different structures under a single holding company, sources of working capital as well as the structure of operating costs; - geographical remoteness of the assets; - numerous subsidiaries; - high probability and significance of financial risks (e.g., significant share of export operationsin the income structure, the concentration of operations in a single geographical center, the value of debt and the availability of funds in the total assets of the holding). A considerable number of experts believe that it is inefficient to create a centralized treasury. They suppose, regardless to the businesses’ location, enterprises must work with a single settlement center. If, for example, some companies earn, and the others spend, however, to have an idea about what they are doing, they should possess operational information about the state of their cash flows.
Authors and Affiliations
Sardor Uktamovich Umurzakov
Keywords
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