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Financial Shared Service Center Set-up Research

Posted on:2015-09-17Degree:MasterType:Thesis
Country:ChinaCandidate:L Y ZhaoFull Text:PDF
GTID:2309330467483693Subject:Business management
Abstract/Summary:PDF Full Text Request
Financial Shared Service Center (FSSC) is a creative financial management module,which is implemented and recommended in multinational corporations (MNC). FSSCis a centralized financial management, which integrates the enterprise resources suchas people, process and information technology to one center and then serves to all thegroup business units, for the purpose of eliminating costly duplication and increasingefficiency. With about30year’s practice and development in MNC, FSSC is acceptedby more and more local companies and some of them has successfully establishedtheir own FSSC, and most of them are intended to establish in recently years.This thesis studied the finance transformation experience in oversea MNC withspecial case happened in NCR group, summarized the implementation and practiceexperiences in FSSC. Hope they are helpful to local companies that are attempting tobuild FSSC. The thesis mainly covers:Firstly, the thesis introduces the background of FSSC’s generation and whatadvantages it can bring to the company, and challenges simultaneously. FSSC isgenerated and developed with the globalization of economy and information, and ittotally changed the concepts that people understand to the traditional finance. It bringslots of benefits such as high efficiency, cost reduction and professional service insteadof a cost center only.Secondly, FSSC changes group financial accounting methods and procedures. Underinternational operating environment, consolidated information technologies, standardand straightforward operational procedures are widely used in FSSC to facilitate thebusiness and financial data collection, sharing and analysis within the whole group,which ensure the reporting submitted with accuracy, completeness and timeless.Thirdly, FSSC is successfully established with group top management support andwell-deployment. Establishing FSSC covers many areas such as regional culture,shareholders etc, so FSSC operating model, information system, organizationstructure, process and office address must be considered and well prepared beforeFSSC commencing to set up. A successful FSSC makes the finance service movefrom cost center to value generator.
Keywords/Search Tags:FSSC (Financial Shared Service Center), ERP (Enterprise Resource Planning), process reengineering
PDF Full Text Request
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