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By establishing Miskolc Holding Zrt., the management of Miskolc City of County Rank aimed at creating a uniform management system with the help of which the operation of the local government companies can be rendered more transparent and more efficient furthermore at ensuring the uniform management and control.
Uniform Controlling System
The precondition of realizing the owners' ideas and of enforcing the interests is the setting up and operation of a sophisticated controlling system covering the company group as a whole. The purpose of the system is to provide appropriate overview for the owners and managers of the Holding about the operation of the group, thus making possible the maximum utilization of the benefits consequent upon the establishment of the Holding as well as the future-oriented decision making.
After the foundation of the Miskolc Holding Zrt., the development of the controlling system aiming at most comprehensively satisfying the needs of the executives started. To this the information requirements of the management had to be surveyed and the concepts used in planning and reporting had to be standardized on company group level.
A reporting system was developed which from time to time provides information about the position of the company group, about the results of the member companies and about to what extent those diverted from the plan. Thus the system enables the management to control the company on the basis of the differences between plans and facts.
The system of functional, financial plans to be compiled by the Holding and the member companies was also developed the uniform structure of which makes possible for the Holding to consolidate the plans and to prepare a company group level annual plan.
Common Procurement System
Miskolc Holding Zrt. operates a centralized procurement and public procurement system on company group level. The system includes collecting the annual procurement plans of the member companies, the preparation and organization of the necessary central procurement and public procurement procedures furthermore the reconciliation of the procurement plans and facts
Benefits of the system- Provision of cheaper and/or better services by utilizing the possibilities for improving the efficiency inherent in economies of scale and the implementation of the best practices
- More purposeful implementation of the procedures applying technically cheaper methods,
- Improving the professional quality of public procurement
- More closely controlled implementation of the otherwise time consuming procedures, more efficient work
- Placing inventory management on new bases, the development of integrated systems significantly improves the liquidity position of member companies by reducing the capital invested in stocks
Uniform Payroll Management
For the sake of efficiency, Miskolc Holding company group wants to concentrate the payroll accounting activity of its member companies at one member of the group which shall perform payroll accounting for itself as well as for the other member companies.
To this the Holding invited tenders from the member companies for the centralization of the payroll management tasks. The selected member company takes over only the reporting obligation while the member companies preserve their entire payroll management powers.
The uniform payroll management system is expected to be introduced at the member companies as of January 1, 2008.
Cash-pool system
Miskolc Holding Zrt. has been operating a so called cash-pool system as of March 12, 2007. This means the centralized management of the bank accounts of the company group in order to optimize the financial positions of the members companies, to reach better deposit position or to decrease the portfolio of external loans by internal financing.
Benefits of the system- The company group can manage its funds more freely and can realize higher interest income even if the banking conditions are unchanged
- The member companies integrated in the system can significantly increase the amount of the balance of the current account and thus the yield
- Internal financing, internal loans are possible among the accounts in the pool as the credit balances partly or entirely finance the debit balances
- Aggregated coverage control
- Liquidity management, interest rate optimization
- Monitoring - the liquidity of the company group can be checked and monitored at any time of the day
