Shanghai Financial Sharing Center X Company Case Analysis

Financial Shared services center is not only a management style which used by enterprise toimplement the strategy of globalization, but also an innovation tools to standardize the internalfinancial process, it helps the enterprise to promote and support the company to finish theglobalization strategy. Shanghai X company is now in the stage of globalization process, how tomake sure the company’s sustainable development and then further to realize the change ofglobalization strategy, improve the company’s overall management ability and innovationconsciousness, realize the company’s efficient operation, reduce the cost and strengthen thestrategic target of financial management ability, is a key issue faced by the X company.The article summarized the live experience and implementation method after used thearticles in terms of the successful financial shared service center implementation as the reference,and then use case study of Shanghai X company which also implemented the financial sharedservices center model, made a conclusion on the financial changes for those foreign companieswhich will implement the financial shared service center in China and also gave somesuggestions on successful implementations. The following was the content and conclusions ofthe article:Firstly, analyze the issues of X company’s original financial system and the design of newstructure of the financial shared services center. On the basis of detailed issues analysis oforiginal financial management system, design the new financial shared services center, includingthe X company’s vision of a financial sharing center, location proposal, size, the job descriptionon methodology and organization structure, proposed key performance index design and thefuture development plan.Secondly, the detailed narrative of the set up process of financial shared service center.analyze the issues occurred by the X company after the introduction to the orientation offinancial shared service center, information system support, the changes of job description andkey performance index etc.Thirdly, through the research to Shanghai X company’s financial Shared services center setup situation, define the issues to make sure the successful financial sharing centerimplementation. The article believed that the successful establishment and implementation of thefinancial shared service center must be leaded by the company’s top management, and have thewell-connected layout and design, strong IT system’s support; the set up of financial sharedservice center can promote and push the transformation of the financial department, financialdepartment should establish the standard work flow, and only through the system standardization to improve the work efficiency.