Tao Zhu Gong Awards

企业获益 • 亚太区资金集中统一管理，将海外市场纳入总部集中管理范 畴，实现资金可视和可控性； • 提高结算效率，降低操作风险和成本，保证资金安全； • 制度和流程高效及标准化，财务处理效率全面提升； • 外汇风险的集中管理。 HIGHLY COMMENDED Best Working Capital Management Spring Airlines Co., Ltd. Judges’ Comments The company has successfully achieved centralized cash management in the Asia-Pacific region, set up a regional ERP system, which led to more visibility and control of capital. Company Profile Spring Airlines Co., Ltd. (hereinafter referred to as Spring Airlines), is one of China’s first private airlines, its first flight was on 18th, July 2OO5. It is China’s first and largest low cost airline company. The company now owns 74 Airbus A32O aircrafts. Challenges In recent years, the economy in the Asia-Pacific region has been booming and the demand for air travel has increased considerably. Spring Airlines seized the opportunity to expand its operations and established more flight routes. To support the company’s rapid growth, the capital management department identified three treasury management issues. First, as the number of international flight routes increased, how to support the operational and payment needs of the company’s overseas branches. Second, how to achieve efficient and convenient cross-border trade settlement and reduce operation costs. Third, how to improve the current system, procedures and the efficiency of financial transactions through a connection system with the bank. “We chose Citi mainly because their online banking offers convenient services and Citi’s capital management platform is highly efficient.” said Tian Chao, DGM of the Department of Investment and Financing of Spring Airlines. Solution 1. In recent years, Spring Airlines has expanded its flight routes to more foreign countries and to the regions of Hong Kong, Macau and Taiwan. It has also set up subsidiaries and offices in different countries and regions (Japan, Hong Kong, Taiwan, Malaysia, Thailand, etc.). Hence, there is huge demand for payments in multiple currencies. Supporting the operation and development of overseas business and making payments more convenient is the key to higher capital management efficiency. Spring Airlines have partnered with Citi to achieve a one-stop online currency conversion and foreign currency payment system. By simply entering payment orders into Citi’s online platform, financial employees of Spring Airlines can conveniently convert the money in the RMB account and settle payments in foreign currencies such as Thai Baht (THB), Malaysian Ringgit (MYR) and New Taiwan Dollar (NTD), which are not widely used. Citi has the ability to settle payments globally in as many as 190 countries worldwide and beneficiaries are credited on the same date the payment was made. 2. Simplified cross-border RMB settlement first started in Shanghai and Spring Airlines is among the first pilot companies to use paperless foreign currency payment under the trade account. Previously, the finance department needed to submit payment documents at the bank’s counter in order to get the printed receipts, which sometimes were misplaced or lost. With the paperless payment system, they only need to upload the supporting documents onto Citi’s online platform in order to complete the cross-border RMB settlement. This greatly facilitates the company’s daily settlement, reduces operating costs and improves efficiency. 3. As the company upgraded its ERP system, Spring Airlines decided to integrate it with a bank in order to further improve efficiency in their payments and receivables. The company discussed specific plans with multiple banks and identified quantitative indicators. These banks included global banks with rich experience and standardized procedures of cross-regional operation. Spring Airlines chose to partner with Citi due to its sophisticated models, advanced technologies, smart operations and low costs in overseas business management and foreign currency payments. Spring Airlines has set up regional ERP integration with Citi in multiple countries in Asia- Pacific, which can process and integrate information both from the bank and the company. With the system in place, users don’t have to enter the information manually to complete the payment as it is done automatically by the system. Through the ERP system, payment instructions and procedures are incorporated into it. Meanwhile, automatic reconciliation was made possible which in turn reduced operating costs. Best practice This elaborate and carefully designed solution improved capital efficiency and the company’s operating model. Capital is concentrated at the company’s headquarters, making capital management fully transparent, controllable and optimized. The online banking system and one-stop paperless multi-currency payment system give full use of Citi’s capabilities around the globe, which greatly facilitates Spring Airlines’ payments under trade in services operation and improves settlement efficiency. The regional ERP system ensures all-dimensional online management. The whole process, from typing in payment orders to reconciling receipts, is now automated, which resulted in changes and optimization of procedures and lower operating costs. This solution is a model for fast growing companies to learn from. As a low-cost airline, Spring Airlines has high requirements for cost control and it has also been trying to go paperless in recent years. “Citi’s fully automatic system and its paperless online platform are consistent with our company’s philosophy,” added Tian Chao. BENEFITS FOR THE COMPANY • Spring Airlines has achieved centralized capital management in the Asia-Pacific region and placed its overseas markets under headquarter management in order to make capital management transparent and controllable. • Ensure capital security by improving its settlement efficiency and reducing its operating costs. • Substantially enhanced the efficiency of financial transactions through improved efficient and standardized systems and processes. • Spring Airlines has achieved centralized management of foreign exchange risks. Tian Chao DGM of the Department of Investment and Financing of Spring Airlines Co., Ltd 春秋航空有限公司投资​融资​部副总经理田超 重点推荐企业 最佳现金管理奖 春秋航空有限公司 评委点评 亚太区资金集中统一管理、区域性银企 直连，实现资金可视、可控 企业简介 春秋航空股份有限公司（以下简称“春 秋航空”）作为中国首批民营航空公司 之一，于2OO5年7月18日开航，是国 内第一家，也是中国国内最大的低成本 航空公司，现拥有74架空客A32O飞 机。74 Airbus A32O 挑战 近几年春秋航空积极把握亚太区内经济 发展和旅客出行需求的增长，运力规模 和航线数量进一步提升。为保证企业的 迅猛发展，资金管理部门确定了三个财 资管理目标：第一，随着海外航线的扩 张，如何支持海外公司的营运和支付需 求； 第二，如何实现高效便利的跨境贸 易结算，降低操作成本；第三，如何与 银行实现系统对接和联动，实现制度和 流程优化以及财务处理效率的提升。 春秋航空投融资管理部副总经理田超 说：“之所以选择花旗进行合作，主要 是因为花旗网银的便利，及其资金管理 平台的高效。” 解决方案 1. 实现多币种收付 随着春秋航空将航线拓展至国际及 港澳台地区，在海外多个国家（如日 本、香港、台湾、马来西亚、泰国 等）设立子公司和代表处，各类外币 支付的需求应运而生，如何支持海外 业务运营和发展、提高支付的便利性 是提高资金管理效率的关键。春秋航 空与花旗银行合作，实现了一站式电 子化换汇和多币种外币付款的操作， 春秋航空的财务人员只需在花旗的 网银平台上输入简单的付款指令，即 可从人民币账户实现多种货币的换汇 和付款，包括如泰铢、马来西亚林吉 特、台币等诸多小币种付款，充分发挥 花旗银行在全球多达19O国家的支付能 力，资金在付款当天即可全额到达受益 人的账户。 2. 简化人民币跨境结算 随着跨境人民币结算简化操作在上海开 始实行，春秋航空还作为第一批试点 贸易项下外币无纸化支付的企业。由于 以往的操作模式，将付款单据递交到银 行柜台，再从银行柜台打印回单，容易 造成遗失，而实施外币无纸化付款后， 春秋航空财务人员只需在花旗的电子平 台上上传贸易支持文件即可完成跨境付 款，极大的方便企业日常贸易结算的操 作，降低操作风险，提高结算效率。 3. 全面实施银企直连 为了进一步提高资金收付款效率，伴随着 公司ERP系统的升级整合，春秋航空 决定与银行开展银企直连。公司与多家 银行进行了方案研讨并量化指标，如具 备丰富实施经验、拥有跨地区标准化实 施流程的全球银行，最终在海外业务及 外币付款方面，选择模式成熟、技术领 先、操作智能、成本占优的花旗银行作 为合作银行。春秋航空与花旗在亚太区 多个国家实施区域性银企直连，通过银 企之间信息直通处理和整合，一方面将 人工录入的付款变为系统直通式处理， 通过ERP系统将付款制度和流程落地， 纳入系统控制；另一方面实现自动对 账，降低操作成本。 最佳实践 该方案设计精心，提升了资金效率，改善 了操作模式。资金集中到总部管理，使资 金实现完全的可视、可控和优化；而银行 的电子银行平台，一站式无纸化的跨币种 外币付款功能，充分发挥花旗银行全球多 币种的支付能力，极大便利企业服务贸易 付款的操作，提高结算效率；区域性的银 企直连，实现全方位的线上管理，从付款 的源头到对账完全自动，实现流程的变革 和优化，降低操作成本，是迅速发展的企 业可深入借鉴的一个优秀案例。作为低成 本航空公司，春秋航空对成本控制的要求 很高。同时，公司近来也在推广无纸化办 公。“花旗的全自动系统、无纸化电子平 台都与我们企业的理念非常契合，”田超 补充说。