Research On Financial Shared Services In China

With the economic globalization and the rapid IT development since 1990s,the competition is becoming fiercer and fiercer.Financial services,human resource services and other services,which were neglected for a long time,are playing more significant roles in company operation today.Therefore,the cost and the qualities of these services abstract more and more attention.Due to the ERP system,multinational companies integrate services together to achieve the standardization,centralization and routinization.Meanwhile,the competition mechanism is introduced into the company operation,in order to reduce the cost,create the value and improve the qualities of services.As a result,Financial Shared Services(hereafter,FSS) appears.Nowadays, FSS has been widely used and proved to be highly effective in multinational companies.As for Chinese situation,FSS,which was just used in recent years,is now in the process of trial and popularization.Beginning with financial services transformation,this dissertation does research on FFS.Firstly,it systematically gives a brief summary of relevant concepts about FSS, including its definition,features,development,advantages,applicability etc.Secondly, it analyzes FSS in China,focusing on its motivation and feasibility.With the case study of ZTE,it shows some features of FSS in China.In detail,reducing cost,improving qualities of services and integrating control are three goals of FSS,the first two of which are general and the last one is specific.Thirdly,based on practical experience of FSS in western countries,it builds up a framework of FSS implementation for China and develops detailed descriptions of procedures and key factors to success.Lastly,it looks into the prospect of FSS in China,especially its future development and motivation.