OREANDA-NEWS. May 25, 2012. Efficient cash management has become an impetus for the sustained development of the education industry. In April 2012, at the Summit Forum of Industrial Bank (IB) on Cash Management in Education Industry held in Hangzhou of Zhejiang, the bank, adhering to the management philosophy of “common development and growth” with customers and boasting a keen market sense, released a customized solution of financial services in the education industry for universities and colleges nationwide.

As learnt by the reporter, with universities and colleges gain ing increasing independency in school running gradually, the education industry has witnessed rocketing development, and the pattern that universities and colleges raise funds through multiple channels in accordance with laws has come into being. However, the amount of funds and complexity in the management of funds also kept increasing in the process.

At the Forum, senior executives and financial principal s from well-known universities across China, such as Donghua University, East China Normal University and East China University of Science and Technology, all believed that the education industry had entered into a period of fast development and would gradually step onto an integrated, all-sided and chained track, the scale of education institutions would grow toward super-large school-running organizations, and the organizational structures and internal management hierarchies involved would also become increasingly complicated. The education and training institutions of certain running scale usually have many branches and affiliates across the whole country. More efficient cash management will surely become an impetus for the sustained development of the education industry.

Centering on the theme of collection and payment of fees in the education industry, based on the current features that education institutions exhibit in fund settlement and collection and payment of fees as well as the demand of fund management, and considering the experience gained during years of practice in providing services to the education industry, IB indicated that, to provide financial services to the education industry, first, there must be specialized products and service process, and second, there should be an integrated service platform and joint support from multiple parties concerned. Only a comprehensive financial service platform and solution with integrated services, complementary advantages, resource sharing and multi-party win-win effect could lend vigorous support to the development of the education industry.

At the Summit, IB released a customized solution of financial services for the education industry. As introduced by IB, the solution combines the unique products and value-added services under the cash management brand of IB “Gold Cube” and targets at customers of the education industry at all levels to provide financial service programs featuring more efficient, high-quality and specialized collection and payment services and experience. Considering the IT-based construction progress and management characteristics of the education industry and based on modular design and combination, the solution aims to adapt to the fund management demands of education institutions of different scales and natures, and on that basis, provide value-added financial products to universities and colleges as well as other education institutions such as management of income and expenditure, management of fund pool, investment and wealth management service so as to help the customers in the education industry to improve fund management and incomes and optimize the management of funds to the largest extent.

IB indicates that it will stand by the service concept of “three-dimensional solutions to the demands of multiple parties” to help customers manage in a dynamic way and optimize in a sustained way the asset portfolio, and to help universities and colleges manage assets in a forward-looking, intensive, efficient, standard and refined manner. In this way, IB hopes to further help the education industry to increase capital income and save cost by cash management.