Study On The Improvement Of Finance Shared Services In C Corporation

Under the background of globalization, finance shared service has shown its strong application value and vigorous vitality after more than 30 years of development. Most multinational corporations and local famous companies have implemented finance shared service to reduce overhead of operation, enhance efficiency of finance management, improve finance service and strengthen corporate control. On the contrary, problems and complaints also arise on the course of implementation such as redistribution and competition of internal power, high employee turnover, and low customer satisfaction. This has brought new research topics to the scholars or managers on academy and practice of financial management.By analyzing the case of C Corporation, this paper aims at studying the problems and solutions on the development of finance shared service in the company and also providing some references to similar companies.The author firstly reviews the concept, development history, theory bases and current studies of finance shared service through literature research.Then, by applying observation, interview, survey and comparative analysis, the author takes C Corporation as a case to analyze its status quo including the introduction of C Corporation, application status of overall shared service, the development history and scope of finance share service. Following the introduction, three development stages are summarized as exploration period, regional expansion, service expansion in C Corporation. The different objectives, process scope, organization, and requirements of information technology in these stages are analyzed. Lastly the author briefs the necessity to upgrade existing finance shared service as a conclusion of this part.Lastly the author studies the company in depth about the five major weaknesses such as high turnover, the decrease of profession, the unclear ownership of some processes,etc, and the negative impacts caused accordingly; analyzes the root causes of these problems and puts forward the improvement measures including integration with supply chain, horizontal labor division, human resource hierarchy adjustment and etc.This is defined as the forth development stages of Finance shared service in C Corporation: Integration. It's expected to optimize and achieve the strategic objectives of the application of finance shared service in C Corporation.