Explore The Development Of Enterprise Bill Pool

Enterprise's bill pool business is that all the members of the group company outsource their bills to a functional department of the group company and the functional department then provides a package of bill services for the internal members of the group including identification,custody,discounting,and pledge.The establishment of a bill pool can improve the professionalism of the bill management by improving efficiency through a reasonable division of labor.Furthermore,it can help enterprises to achieve fine management of bill resources,using existing bills as much as possible to solve the problem of insufficient funds in the business activities and reducing financial costs.Along with the rapid develop of Chinese economy and huge expansion of the scale of enterprises,the proportion of the bill transactions in business activities has increased.Thus,the role of commercial papers in the settlement process of enterprise groups has become increasingly important.For China's oil industry,in the first half of 2018,the international oil market did not achieve the expected balance of supply and demand.The unexpected “supply falls short of demand” and the international political situation under the influence of geopolitics push up the oil prices to an unexpected level.However,since October 2018,the international crude oil market has turned into oversupply,and oil prices have fallen.The development of the international oil market in 2019 is still unclear,with many influencing factors and high uncertainty.The growth of operating income of oil companies is uncertain.In addition,the problem of “difficult and expensive funding” still exists.At present,the “cutting overcapacity,destocking,deleveraging,reducing corporate costs and shoring up weak spots” policy implemented in China requires enterprises to reduce environmental pollution,improve profitability,reduce enterprise costs and effectively control financial risks.Till now,many scholars have done a lot of research on how to achieve green development,reduce corporate financing costs,and help corporate financing.It is found that the establishment of enterprise bill pools can effectively solve the above problems through centralized management of corporate bills.Thus,it is of great practical significance to study the construction of corporate bill pools both from the perspective of market attention and the actual benefits of the bill pool business.At present,China's model of corporate bill pool is still in the process of exploration,and there are no perfect systems and practical cases as model standards for the entire market.Dagang Oilfield Group Co.,Ltd.(hereinafter referred to as “Dagang Oilfield”)has a long history and a large number of employees across the three provinces of Tianjin,Hebei and Shandong.It is an important part of the Bohai Economic Circle.The company itself has problems such as large inventory of receivables,idle waste of bill resources and islands of bill information.The development of bill pool business can effectively solve these problems.Dagang Oilfield,as an oil and gas field company affiliated to China National Petroleum Corporation(hereinafter referred to as “PetroChina”),responded to the request of the Ministry of Finance of the Joint Stock Company for the promotion of the bill pool business.Dagang Oilfield actively responded to the call as a pilot unit and started the bill comprehensively in June 2018.Pool business actively explore the establishment of effective bill pool management.Studying the case of Dagang Oilfield Enterprise Bill Pool can reveal how much benefit the enterprise bill pool business can bring to the enterprise and help promote the business model in CNPC.The main objective of this paper is to analyze the construction mode and impact of the Dagang Oilfield Bill Pool.First of all,this paper studies the background of the opening of the bill pool business and analyzes the current situation of China's petroleum industry and the problems in the management of bills in Dagang Oilfield.Secondly,this paper analyzes the selection and management mode of its bill pool platform,studies the characteristics of the business and the advantages and disadvantages of the traditional bill pool business,and the Dagang oilfield bill pool business can bring the development of the enterprise and bill market.benefit.Finally,the paper analyzes the problem of the business,finds the existing problems and the areas that need to be improved in the operation process,and proposes corresponding countermeasures.This paper believes that after the establishment of Dagang Oilfield Enterprise Bill Pool,its benefits are reflected in two aspects: from the microscopic point of view,the business effectively reduces the financing cost of the enterprise and obtains the income from the book financial expenses,which facilitates the centralized management of the bills.From a macro perspective,this business is conducive to the development of corporate credit and bill credit and has a certain impetus to the development of China's real economy.Because it is a pilot unit,the management platform selected by Dagang Oilfield is the Finance Department.This paper analyzes the advantages and disadvantages of the Finance Department and the Finance Company as a management platform and believes that although the Finance Department acts as a functional department within the enterprise,management efficiency and information exchange It is dominant,but financial companies are more dominant in the professionalism of management and the scope of business operations.This is a problem at present.For this problem,the author believes that CNPC Finance Co.,Ltd.and Dagang Oilfield are both subsidiaries of PetroChina.Dagang Oilfield can use this as an opportunity.In the promotion of later bill business,China Oil Finance Co.,Ltd.is the management platform to better realize the function of the bill pool..In addition,enterprises should maintain good cooperative relations with commercial banks.On the one hand,they will cultivate bill personnel,and on the other hand,they will continuously improve the bill pool business process and help enterprises develop.