In recent years, the progress of science and technology and the change of business model have accelerated the development of financial industry. In the traditional financial industry, only capital is not enough, but also flow.
At present, the competition in the financial industry is becoming increasingly fierce. With the large flow of Internet head enterprises entering the financial field, it has brought a lot of pressure to the traditional financial industry.
Banks, insurance, trusts, funds and securities have also been transforming to the Internet. Cross-border finance of the Internet has emerged, and the cross-border development of finance is the cross-border Internet.
Combined with the Porter's five-force analysis model put forward by Michael Porter, a famous management scientist and professor of Harvard Business School, today's financial industry is not only facing the competition of competitors in the industry, but also facing the entry of potential competitors and the threat of substitutes.
Finance is becoming more and more specialized and subdivided.
A few years ago, banks, insurance, funds and other financial industries all set up the position of wealth management product manager. At that time, financial product managers were more Internet product managers, mainly realizing the mobile Internet of finance.
After several years of development, the use of mobile phones such as mobile banking, fund companies and securities companies has become quite common. Financial product managers in these directions are all mature, almost the Red Sea.
And supply chain finance, after several stages of development, now has the conditions for rapid development and has a broad development space in the future. Being a new blue ocean in the financial field also brings new challenges and opportunities to financial product managers.
Supply chain--a new direction of financial product management.
Let's first understand what a supply chain is.
According to the textbook of supply chain management in our university, the definition of supply chain is centered on core enterprises. Suppliers, manufacturers, distributors, retailers and consumers form a complete functional network chain structure model in the process of purchasing, processing, manufacturing products and sales by controlling logistics, information flow, capital flow and business flow.
In the final analysis, it is actually the supply and demand relationship between upstream and downstream, which inevitably involves the interaction of funds.
In enterprise financial management, capital turnover rate is a very important financial index, which reflects the speed of capital circulation. In reality, it usually takes a long time for the supply chain to receive the payment. For example, in some enterprises with the right to speak as the core, the cooperation between suppliers and them is often not first-hand, which will lead to low capital turnover rate and poor capital utilization rate of suppliers.
The emergence of supply chain finance is to solve the financial pain point of enterprises in the supply chain network and improve the operational efficiency of enterprises.
At present, there is no authoritative definition of supply chain finance in China
In 2005, Professor Hoffman of the University of Saint Gallen in Switzerland gave the definition of supply chain finance: two or more organizations in the supply chain, including external service providers, create value by planning, executing and controlling the flow of financial resources between organizations.
At present, most of us may think that the so-called supply chain finance is actually the enterprise financing in the group supply chain.
In fact, supply chain finance is still far from financing. The overall framework of supply chain finance is shown in Figure 2- 1.
Figure 2- 1 Overall framework of supply chain finance
1.0 stage
In 2003, Shenzhen Development Bank (now owned by Ping An Bank) first put forward the concept of supply chain finance.
At present, supply chain finance is mainly carried out offline, and the financial provider is mainly banks.
It shows that the current supply chain finance business is relatively simple and does not require the participation of financial product managers (of course, there was no concept of financial product managers in 2003).
The participants in the supply chain do not share information, so it is difficult to expand the scale and the financial operation efficiency is poor. As shown in Figure 2-2, the supply chain finance 1.0 is as follows.
Figure 2-2, Supply Chain Finance 1.0
2.0 stage
Since 20 12, the landmark event is that Ping An Bank introduced the supply chain from offline mode to line manager.
But at this stage, supply chain finance is still business-oriented, without the participation of financial product managers. As shown in Figure 2-3, Supply Chain Finance 2.0 is shown below.
Figure 2-3, Supply Chain Finance 2.0
Stage 3.0
This stage involves a lot of cross-industry knowledge, and the product structure and business model become complicated. Traditional personnel who only pay attention to business processes can no longer meet the development needs of supply chain finance.
At this stage, the wealth management product manager finally ushered in the spring, which can truly realize and embody the value of the product manager. As shown in Figure 2-4, Supply Chain Finance 3.0 is shown below.
Figure 2-4, Supply Chain Finance 3.0
The main customers of the supply chain, that is, the target customers in our product analysis, are "small and medium-sized enterprises".
According to the data of "China Enterprise Management Project Industry Deep Market Survey and Investment Strategy Research and Analysis Report from 2065438 to 2023", there are currently 40 million small and medium-sized enterprises in China, accounting for 99% of the total number of enterprises, contributing 60% of GDP, 50% of tax revenue and 80% of urban employment.
Meanwhile, according to the data of China People's Bank's 20 17 annual report, the loan balance of small and micro enterprises was 24.3 trillion yuan, up by 16.4% year-on-year. However, compared with the total loan balance of 120. 13 trillion yuan, the proportion of small and micro enterprise loans is still small.
Combined with the data, we can find that the capital demand of small and medium-sized enterprises is huge. This provides great imagination for the market development of supply chain finance.
Combined with the current scale of supply chain finance in China and the development trend in recent years, the development trend of supply chain finance in China in the next few years is predicted as follows: "Figure 3- 1 Market Scale Prediction of Supply Chain Finance".
Figure 3- 1 Forecast of Supply Chain Financial Market Size
According to the published data compiled by the author, the current number of financial institutions in China is as follows: "Table 3- 1 number of financial institutions in China"
Figure 3- 1 Number of financial institutions in China
In addition, payment companies and Internet financial platforms (P2P) are also constantly involved in supply chain finance business.
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At present, there are 239 licensed payment companies and 864 internet financial platforms (data as of June 30, 2009).
As the blue ocean market in the future financial field, supply chain finance is bound to have more and more companies involved in supply chain finance business.
Supply chain finance business involves many sub-sectors such as accounts, users, funds, channels, payment, reconciliation, clearing and settlement, risk control, compliance, processes, collection and platforms. Basically, at least 1 product manager should be configured in each subdivision.
It can be seen that in the future, the demand of supply chain financial product managers will increase with the continuous development of supply chain financial business, which provides a broad space for the development of financial product managers.
Since there is a huge demand for supply chain financial product managers in the future, what are the responsibilities of supply chain financial product managers? What kind of knowledge do you need?
As soon as you are familiar with the business, write the business requirements as PRD according to the business requirements and then hand them over to development and implementation?
Definitely not.
Being familiar with business and being able to write PRD is the most basic requirement for wealth management product managers. Knowing these can only be said to meet the basic requirements, but it is not a plus item at all.
The essence of financial product manager is to solve the pain point of demand side through financial products. The emergence of the supply chain financial platform seems to integrate the information of all stakeholders in the supply chain, but how the capital flow, information flow, business flow and logistics work among them needs the product manager to design.
What kind of enterprise applies what kind of interest rate, what kind of service fee is charged and what kind of service is provided are all things that the supply chain financial product manager should consider, rather than simply saying that building a platform can be solved in one sentence.
Moreover, with the continuous refinement of business, more and more basic knowledge will be needed, which requires the supply chain financial product manager to master the basic knowledge quite skillfully, understand risk control, finance, payment, finance, technology, business and rules.
Supply chain finance involves a wide range of knowledge, and the length of this paper is limited, so it is impossible to list the work scenarios one by one. At present, only one business detail related to supply chain finance is analyzed.
If we are designing a supply chain financial policy for a company, the company currently adopts a credit policy of 30 days payment according to the invoice amount.
In order to expand sales, the company intends to change the existing credit policy. What the supply chain financial product manager should do is to design the financial product scheme and evaluate the optimal scheme. The design of the scheme depends on the historical supply chain data.
Suppose we combine historical data to make the following two financial plans: suppose the cost of capital is 10%, and the year is calculated as 360 days. The relevant sales data of two schemes with different amounts are shown in the following table 4- 1 scheme data of supply chain financial products.
Table 4- 1 Scheme Data of Supply Chain Financial Products
In the second scheme, in terms of sales volume, 20% of customers will pay within 10 days, 30% will pay within 20 days, and the rest will pay within 30 days.
So, which scheme is better, Scheme I or Scheme II?
Financial product managers must have basic financial knowledge, and supply chain financial product managers are the subdivision of the financial field.
But in any case, the more seemingly tall things, the more basic the knowledge used. Next, we use the commonly used index net profit and loss difference to analyze which of the two schemes is better.
We know:
Marginal contribution rate = marginal contribution/operating income = 1- variable cost rate
So: variable cost rate = 1-0.2=0.8.
And:
Variable cost rate = variable cost/operating income
Therefore, our calculation process is as follows: "Table 4-2 Scheme I Net Profit and Loss Calculation" and "Table 4-3 Scheme II Net Profit and Loss Calculation".
Table 4-2 Calculation of Net Profit and Loss of Scheme I
The credit period field "2/ 10, 1/20, N/30" in scheme 2 means payment within 10 days, with a discount of 2%; Discount for payment within 20 days 1% and no discount for payment within 30 days. Therefore, Scheme 2 will have one more cash discount cost than Scheme 1.
Table 4-3 Calculation of Net Profit and Loss of Scheme II
The net profit and loss of Scheme 2 is greater than Scheme 1, that is, Scheme 2 is superior to Scheme 1.
This section starts from a very detailed business point involved in the supply chain financial business, so that the supply chain financial product manager can solve specific problems in practical work through financial product design.
Although the first scheme is superior to the second scheme in sales volume, the overall analysis shows that the second scheme is superior to the first scheme.
Therefore, the most basic thing for a financial product manager is to give a suitable financial product design scheme through the analysis of financial professional knowledge, and the quality of the scheme needs to be proved by data.
Supply chain financial product manager is only a sub-industry in the financial field. It is essential for the product manager of supply chain to master financial knowledge in a solid and skilled way if he wants to complete the task well. In this way, we can also use basic knowledge to solve practical work problems on the basis of understanding the business.
In practical work, no matter how huge the product is, the supply chain financial product manager will eventually disassemble it into subtle functions after top-down or bottom-up analysis.
After every subtle functional breakthrough and assembly, a variety of product solutions will be formed, and if the supply chain financial product manager does not have the reserve of supply chain financial knowledge, you will find that there is no way to start when you encounter problems.
Easy work requires the accumulation of knowledge and experience, which takes time.
It is no exaggeration to say that wealth management product managers need a certain threshold. You can't be called a financial product manager just by reading a few financial books. Working as a financial product manager is risky. We need to have the minimum awe of finance.
The financing pain point of small and medium-sized enterprises has a long history, and financing difficulty is more common than financing expensive. Supply chain finance can solve the pain points of small and medium-sized enterprises.
In the past, the providers of supply chain finance were mainly banks. Because banks can't fully grasp the information of small and medium-sized enterprises in all aspects of the supply chain, they are often conservative in the provision of funds and the efficiency of capital operation is not high.
With the development of information technology, today's supply chain finance provides a variety of models to solve the characteristics of small and medium-sized enterprises, and supply chain financial products for small and medium-sized enterprises emerge one after another: accounts receivable product model, financial leasing product model and P2P online lending platform product model.
Especially the P2P online lending platform, the transformation is imminent. Obviously, the key to the health of P2P online lending platform lies in the quality of its assets, because high-quality assets directly determine the bad debts and overdue of the platform, and the platform can develop in the long run.
In addition, for the trust industry, the quality of assets is equally important, while for the trust industry, the amount of funds is abundant, and the pain point is to find high-quality assets quickly.
The biggest advantage of supply chain finance is to reduce the information asymmetry of all participants in supply chain finance, such as banks, leasing, P2P platforms and trusts, through the connection of all links in the supply chain. You can find high-quality assets, thus reducing credit risk.
For enterprises, improving financing efficiency can also effectively reduce financing costs. Supply chain finance is a real multi-win situation.
Supply chain financial product managers are not only satisfied with the supply chain financial business itself, but also gather in the deeper requirements of enterprises, just as drill manufacturers think that users may want drills, but what users really want is drilling.
There is no love and hate for no reason, and there is no financial product design from castles in the air.
Ask where the canal is as clear as water, because there is flowing water at the source. Good supply chain financial products need long-term exploration by supply chain financial product managers, and constantly create supply chain financial products that meet the needs of enterprises, so as to improve the overall economic operation level of society and make their own contributions to social development. This is also the mission of each of our wealth management product managers.
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Related questions and answers: Which bank is Renren Loan? Renren Credit Management Co., Ltd. (hereinafter referred to as "Renren Credit") is an organization specializing in third-party credit evaluation and credit management. Founded on August 28th, 20 15, it is located in Yinhe SOHO, Dongcheng District, Beijing.
Renren Credit Management Co., Ltd. is a subsidiary of Sunshine Insurance Group (Sunshine Insurance, one of the seven insurance groups in China, was established in July 2005 with a registered capital of 67/kloc-0.05 million yuan), which was established in 20 15 years and is an independent third-party credit evaluation and credit management institution.
The company adheres to the concept of "encouraging trustworthiness and punishing dishonesty", adheres to the principle of "fairness, objectivity and service", and uses big data and cloud computing technologies to objectively present the credit status of enterprises and individuals.
Extended data
Renren Credit Data Service is the first flagship product for enterprise users launched by Renren Credit Management Co., Ltd.. It adheres to the concept of "punishment for dishonesty", and uses massive data, big data technology and different risk control means to control the risks of enterprises before, during and after lending.
Renren believes that based on all aspects of information, the credit status of enterprises and individuals can be objectively presented by using big data and cloud computing technologies. Credit generates value and opens credit life by connecting various financial and life services.
Baidu encyclopedia-renren credit management co., ltd.