The Application Of Financial Shared Services In ZTE Corporation

In the 1990 s,due to the deepening of economic globalization,the rapid development of science and technology and the impact of scientific and technological revolution,the world's multinational enterprises to further develop,mergers and reorganization between enterprises more frequently.In this environment,how to strengthen the Group's various branches of the financial functions of the control,effectively reduce the cost of financial management,is becoming a large group of a management problem.Faced with the emerging management of this dilemma,both the theoretical and practical circles are actively seeking a cost advantage,more efficient,more high-quality financial management model.In recent years,this new type of financial management model has been widely recognized by many large multinational corporations,which is the mechanization and repeatability of the daily financial functions such as expense reimbursement and accounting.Of the work from the members of the divestiture,through the computer technology to standardize the financial process,this new financial management model is not only coincides with the enterprise to improve operational efficiency,reduce operating costs,optimize the organizational structure of the demand,but also conform to the development trend of information technology for financial management.Today,the world's Fortune 500 companies,more than eighty percent of enterprises will finance shared services used in the financial management of the Group.In the domestic enterprises,the financial sharing service theory research is still in the initial stage,has established a financial sharing center of the enterprise is relatively small.Therefore,I believe practice cases in the enterprise specific applications of this new financial shared services model is very research value.ZTE as a global leader in integrated communications manufacturing companies,is China's early establishment of financial sharing service center of large group companies,ZTE's financial sharing of the road has accumulated a lot of practical experience,has become the industry benchmark.This paper mainly uses case analysis method,combined with literature research method,qualitative analysis and quantitative analysis of the combination of the case to study the case.This paper is divided into five parts.The first part reviews the financial shared services meanings,patterns and literature review effectiveness;the second part,from concept definition and theoretical basis of two aspects provide a theoretical basis for this article;third is the establishment of financial shared services for ZTE case be Brief introduction: including the basic situation before the establishment of financial sharing,ZTE Group to implement the functions and significance of financial sharing services,as well as from the preparation,start-up,development,pioneering four stages to analyze ZTE's financial sharing service process;This paper analyzes the effect of ZTE's financial sharing service from three aspects: organizational structure,management system and information system.At the same time,it analyzes the key factors of successful implementation of ZTE's financial sharing service.The fifth part summarizes the financial sharing service establishment process In the key points,by drawing on ZTE's establishment process,management methods and methods,summed up the sum of what kind of business for the establishment of financial sharing services,financial services to share the key link to help enterprises to reduce management costs,strengthen the financial decide To enhance the corporate value of the conclusions,and finally the future financial shared services were discussed.