The Research On The Construction Of Financial Shared Service Center Of Y Company

As an important way for enterprise group to restructure and integrate internal resources,financial sharing service has been widely used in large enterprises,especially multinational corporations in developed countries such as Europe and the United States.However,in China's enterprises especially state-owned enterprises,due to traditional thinking and management system,financial shared services use rate is not high,and the sharing service depth is not enough,the potential need to be further play.For the study of Chinese state-owned enterprises to share in the financial situation,the service issues and solutions,this paper adopts literature research and empirical research,analyzes from two aspects of theory and practice based on China's national conditions,to Y Company financial sharing analysis center construction case as the focus,to share and provide the reference the construction of financial services.The main conclusions of this paper are as follows:Firstly,establishment of Financial Shared Service Center by Y Company has theoretical basis for system and cost.According to economies of scale theory,the Financial Shared Service Center reduces labor costs and improves work efficiency through large-scale and specialized labor division.From the point of view of institutional economics,Y Company is at the juncture of system reform.In the cost-effectiveness theory,the investment in the Financial Shared Service Centre is the maximum gain at the lowest cost.Secondly,Y Company faces problems to be solved,including lack of bills and payment process standard,financial management and accounting quality risks,unable to connect reporting system to network,weak leadership,fatigue financial decision-making and analysis.Objective status requires Y to establish Financial Shared Service Center,such as the higher company--China Electric Power Construction Group needs pilot financial sharing service,Y's subsidiary business volume increases year by year and further optimize the management process.It is feasible for the Y Company to set up the Financial Sharing Center in the system and the cost.Thirdly,the basic pattern is to deal with daily affairs,integrates administrative management,focuses on economies of scale,and its purpose is to reduce the cost and meet the needs of the present Y Company.Y Company shall establish financial management department and Financial Shared Service Center.The financial management department shall be in the headquarters,and the Financial Shared Service Center shall be the supporting center of the head office.Subsidiary accounting functions belong to the Financial Shared Service Center.Financial Shared Service Center accepts the financial management of financial management department,and is responsible for providing accounting,capital settlement,accounting statements and other related financial shared services.This is the organizational structure of the Financial Shared Service Center of Y Company.Lastly,the process of the construction of the Financial Shared Service Center of Y Company includes the preparation stage,the planning and design,the IT system construction,the on-line training and so on.The Financial Shared Service Center of Y Company brings positive effects,including reducing investment costs and improving the company service skill level implementation effect,reducing financial risk and tax risk,improving work efficiency,standardization and employee morale.The Financial Shared Service Center of Y Company is also facing some potential risks,such as the risk of poor communication of remote services,IT system data loss risk,the process of generating an increased risk of unclear responsibilities.In order to improve Financial Shared Service Center of Y Company construction,it is necessary for business units jointly to study the financial shared service plan,establish a rapid response mechanism,and strengthen the applicability of process reengineering.Future research will focus on the construction of financial shared services.We will reengineer and optimize the business process,and standardize the information platform.Financial Shared Service Center will be more transparent,and avoid human intervention in the process,and effectively reduce financial risk.