The Research On Construction Of Financial Shared Services

As the economic globalization is the trend of economic development in the worldtoday, large enterprises have mergers and acquisitions in an endless stream andmultinational companies continue to grow fast. At the meantime, with the development ofthe computer technology as the core of information technology, it brings the society intothe era of information economy, bringing a deep influence to the corporations as well.Our country has a rapid economic growth, and many domestic enterprises go abroadto thrive. To maintain a competitive advantage in this wave of change, we should adjustthe organizational structure, the corporation culture and management method, etc. as theenvironment changes. On the one hand, companies are trying to obtain cost advantages;on the other hand, companies are trying to become highly efficient and flexible. Sharedservices emerge at this time and separate some internal functions of the corporations intoa single profit center--shared service center, making the corporations save cost andimprove efficiency through the process of specialization. However, we should notice thatSSC may be faced with some issues such as staff turnover among the implementation, theboycott from the IT reform and so on. Make an understanding of the concept,implementation process and the risk of shared services will have a significant effect onguiding enterprises to improve competitiveness.With regard to the financial shared mode, this paper at first expounds the theory ofshared services and financial shared services. And then it shows the basic idea andintroduces the specific process when practicing it. Moreover, it analyzes the differencesand similarities of three corporations, each of which is from the communicationmanufacturing industry, electronics industry and electrical industry. Additionally, it pointsout what it should focus on during the implementation, its associated existing risks andsome measures. At last, it discusses the prospect of the financial shared service center. Itis certain that build a financial shared services center successfully will help thecorporations obtain more opportunities and advantages.