Finance Transformation: An Investigation On Accounting Outsourcing Solution And Shared Serves Practice

In recent period traditional finance transformation has been arisen as atrend, one of key enablers for improving effectiveness and efficiency are theshared services and outsourcing activities. Finance&accounting is at theforefront of the shared services and outsourcing revolution. The transparentoperation model, resource usage and cost effective operation charge,governance structure, finance process standardization in accountingoutsourcing practices are well recognized by Finance leaders, hence comewith the increasing trend of adopting accounting outsource practice whichformed a popular industry with20%year on year growth rate.This dissertation is mainly adopting case study analysis on PHCompany’s accounting outsourcing process. In addition to comparison of thebefore-outsourcing&after-outsourcing status review on the PH Companyfinance process, the root cause for outsourcing practice; new financestructure/governance model/internal control after outsourcing; theoutsourcing service model; as well as the challenges&opportunities duringthe outsourcing process implementation have all been introduced andinvestigated. Last but not least, by integrating the outsourcing theoretic arguments,relevant accounting outsourcing process risk have been consolidated andsummarized, risk control oriented solutions have been identified as areference to future organization for implementing accounting outsourcing.