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Finance and Credit
 

The construction of centralized cash management on the example of the largest corporations of the fuel and energy complex

Vol. 17, Iss. 40, OCTOBER 2011

Available online: 1 November 2011

Subject Heading: MONETARY CIRCULATION

JEL Classification: 

Ivanov S.S. The competitor of department Banking, Russian economic university for name G.V. Plekhanov
sergei.ivanov@gazprombank.ru

The main tool of centralized cash management used by corporations is cash pooling system. Cash pooling allows to the head company to effectively manage and forecast corporate cash flows. In Russia cash pooling is a very popular treasury solution among companies of energy sector. It is explained by their complex corporate structure with a number of subsidiaries. There are several successful examples of realization of centralized corporate treasuries (Gazprom, Lukoi, Rosneft). It is shown that this group of financial product has a good potential in the Russian market.

Keywords: energy sector, commercial banks, enterprise resource planning, cash-pooling, cash-management

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ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

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