Research On The Path And Strategy Of AN 's Financial Sharing Service Mode In China

Financial Shared Service(FSS),as an innovation of financial management,it provides professional services to its internal/external customers through centralizing financial departments located in various locations,regions,and activities being conducted in different ways.Establishing a dedicated unit,a FSS organization is able to interact closely with head office,business units,external service receipients,with embedding its core values market-style,customer service oriented in its daily operations.Under this model,a FSS organization would be able to achieve economies of scales through integrations of internal resources,standardizing business process and enhancing internal control,and the service itself can be either performed in house or outsourced to a 3rd party,BPO service provider,As an advanced model of financial management, being proven also by quite much practices conducted by hundreds of multi-national corporation,FSS does bring advantages of scales of economy and benefits to their internal financial management through improving efficiencies and qualities.However,specific requirements of implementing such a model are expected for those companies who are interested in, in terms of not only financial systems,organization but also HR and Information system. Evaluations on strategies and how to introduce FSS to these companies, how to re-engineer internal financial management processes and set-up a high-efficiency governance structure those are fundamental to implement a FSSC, apart from these, to conclude the effectiveness of introducing FSS, is a key objective of this paper.By studying on quite a lot of literatures, articles and historical papers,key steps of this paper begin with the theories of FSS, comparing with the service scope of a FSSC and differences between traditional model and the model of FSS of financial management. Following introductions and analysis to existing organization structure and financial management of AN China, a number of problems have been diagnosed and analyzed. Having made detailed analysis on FSS model, importing this model to AN China is able to solve the problems and bring synergies to enhance its internal financial management and operational excellence.As key methodologies,how to import and successfully implement a FSSC via mainly re-engineering internal process and setting up a highly efficient governance structure, which are crucial to make a success for AN China to get this project implemented, whilst, some key strategies are also introduced during project implementation. As a result,all above evaluations and case study on the project implementation, effectiveness of importing a FSS model for AN China have been concluded.Outcome of studies on this paper is trying to provide valuable advices and references, in terms of strategies,methodology and practical solutions of importing a FSS model,to those companies who have already run such a FSSC or potentially plan to build up a suitable organization with high efficiency,customer oriented, and operational excellence.