A Research On Financial Shared Service Center Construction

With the accelerating process of economic globalization and the wide application of network information technology, social economic structure and consumption pattern has undergone major changes, more fierce competition、mergers and acquisitions have increased between companies. In this context, transnational corporations and domestic conglomerates have witnessed fast development, Enterprise operations are increasing frequently across the region and country. With the development and expansion of business scale and branch, previously decentralized organization and management models highlight the disadvantages, mainly in the diseconomies of scale, the high administrative costs, group control and coordination difficulties, poor policy execution and low efficiency. In this situation, a new management philosophy and organizational forms came into being, and this is a shared services model.Financial shared services originated in the1980s, by moving the same and repeatable setting process of the different business units with into separately shared service center, financial shared services promote efficiency gains and cost savings with the economies of scale. Financial shared service center is recognized as the current best financial management solution.This paper combine theoretical research and practical exploration of methods, make the financial shares and organizational reengineering of Y bank as an example, explores in depth how to establish financial shared service center, reengineer the financial process, strengthening financial management and reduced operating costs under the information environment. At First, this paper describes the theory of financial shared services, research status and development trends at home and abroad, and theoretical framework for financial shared services. Secondly, followed by an empirical analysis of the Y bank, this paper studied financial management system and the existing problems, and detailed analysis of the financial y banks shared background, objectives and programs, to assess the effectiveness of financial shared services y banks, noting that the problems of Y bank financial shared service center operations. On this basis, y Bank had been put forward specific recommendations improve shared service center building.Through the research experiences of Y banking in financial shared services center construction and operation, the paper provide practical reference to domestic financial institutions and conglomerates in financial shared services center construction, and promoting the improvement of financial management of enterprise group in China.