rger with MyTravel in 2007. However, as acting group CFO Ludger Heuberg explains to Steve Coomber, while it has been no holiday, the signs are that the hard work has paid off.” (The Finance Director, 2009).
“在经济衰退期间，制定有效的营运资金管理战略已经够困难的了，更不用说在合并后整合一家大公司了；托马斯库克集团在2007年与MyTravel合并后面临的挑战。然而，正如代理集团首席财务官Ludger Heuberg向Steve Coomber解释的那样丽黛，有迹象表明，辛勤的工作得到了回报。”。
The change process was carried out by Thomas Cook having in mind the importance of environmental factors. The recession, the most dangerous enemy of travel and tourism industry. This was needed inherent and immediate response from the management because this was the outside element which was hitting the business that operated in mental satisfactory situations. The head of finance management Heubere said it was not very difficult to manage the company funds because people used to pay money in advance in shape of deposits and advance booking. This made the company’s conditions more flexible to pay to the suppliers. But with the recession situation started changing because now people were booking much later than usual. “In times of uncertainty, such as the current recession, customers book much later,” says Heuberg. “Prepayments are with us later, and for a shorter period of time. Usually the strongest booking month is January for the upcoming summer, this year it was March and April, so the prepayments were with us for three to four months, rather than six.” (The Finance Director,2009)
托马斯库克考虑到环境因素的重要性，进行了变革过程。经济衰退是旅游业最危险的敌人。这需要管理层立即做出固有的回应，因为这是影响在精神上令人满意的情况下运营的企业的外部因素。财务管理负责人Heubere表示，管理公司资金并不困难，因为人们过去常常以存款和预订的形式提前付款。这使得该公司向供应商付款的条件更加灵活。但随着经济衰退，情况开始发生变化，因为现在人们的预订时间比平时晚得多。Heuberg说：“在不确定的时期，比如当前的经济衰退，客户的预订要晚得多。”。“预付款会在稍后、更短的时间内支付给我们。通常最强劲的预订月份是即将到来的夏季的1月，今年是3月和4月，所以预付款会支付给我们三到四个月，而不是六个月。”
The changing mood of customers made the organisation to think more seriously about capital management. Now the company had more candid approach to the capital management because of change environment with the short targets of money management. Mr. Heuberg said “In the past the main target for the business has been the profit target. But we have implemented a system where working capital, the absolute numbers, most importantly deposits and payments from customers, and payments and deposits for suppliers, and further breakdowns of those figure, are targets as well. Furthermore, they will be tied with the bonus targets. So there is much stricter reporting, and a more sound approach to target setting, not just a forecast that constantly changes.” (The Finance Director,2009). Now it was more to involve the people who were working in the finance department. The position now has been change as past all the business just used to think that just revenues, expenses and turnover was the main interest of the business and balance sheet and cash flow were just for finance department but now with this recession everybody had to concentrate on the every aspect of the business especially finances. The improvement could be done by sharpening the equipments in the finance department itself first, to set the examples for the rest of the business. This application started during the recession.
客户情绪的变化使该组织更加认真地思考资本管理问题。由于环境的变化，公司在资金管理目标较短的情况下，对资金管理有了更为坦诚的态度。Heuberg先生说“过去，业务的主要目标一直是利润目标。但我们已经实施了一个系统，将营运资金、绝对数字、最重要的是客户的存款和付款、供应商的付款和存款以及这些数字的进一步细分作为目标。此外，它们将与e奖金目标。因此，有更严格的报告和更健全的目标设定方法，而不仅仅是不断变化的预测。”现在，更多的是让财务部门的工作人员参与进来。现在的情况已经发生了变化，因为过去所有的企业都认为收入、支出和营业额是企业的主要利益，资产负债表和现金流只是财务部门的利益，但现在经济衰退，每个人都必须专注于企业的方方面面，尤其是财务。可以通过首先打磨财务部门本身的设备来实现改进，为其他业务树立榜样。此应用程序始于经济衰退时期。
Achievement :成就
To achieve this goal, there was focus on few points to get the maximum money during the times of crises.
为了实现这一目标，在危机时期，重点关注几点以获得最大的资金。
Maximize money collection 最大限度地提高资金收集
Tight payment policy to supplier 对供应商的严格付款政策
Time extension 周期延长
Discounts on advance booking 提前预订折扣
This made the condition in the favour of the company and they were able to cope well in the times of crises. They just did not cope well the changes but they also proved to be one of the best t
