Research On The Operation And Management Of Financial Sharing Service Centers

With the advent of global economic integration,increasingly,the competition among multinational corporation become furious increasingly,more and more enterprises attach great importance to merger,acquisition,rest ructuring and other global businesses.The market,whatever the size and the scale,results in favor of transnational enterprises.For large transnational companies,the growth of corporate profit and revenue accompany bigger and bigger management risk,as well as the consequent increase in costs.In this context,the global enterprises are facing a variety of challenges in financial management,some leading enterprises is piloting the financial restructuring in 1980's,proactively explorer the concept of financial shared service in order to im prove efficiency,reduce the business cost and advance the business concentration of the financial department by the mass-produced scale effect,thereby optimizing the resources and enhancing the ability to support businesses.Dong Fang Company is a leading service providers of logistics and container transport for their global customers.With the development of container transport services,Dong Fang Company began to expand globally since the 1970 s,and as of 2015,it has set up branches and offices in more than 70 countries and regions all over the world.Now it has over 50 self-owned vessels with the number of containers up to more than 600,000 TEU.Dong Fang Company began to set up shared service center in the world from 1990 s,and its business function involves finance,fleet management,container management,information technology(IT),bill of lading managem ent,etc.As the earliest shared service center established by Dong Fang Company,the financial shared service center was established in Shanghai in 1995.It is mainly responsible for the accounts receivable and accounts payable busin ess of Japan and the United States in the initial period,and after years of development,it has devel oped to a financial center with Shanghai and Chongqing as two major bases with business covering more than 40 countries and regions,and financial functions including accounts payable,accounts receivable,expense reimbursement,internal control and a plurality of financial modules.In this paper,through the analysis on the architecture and function of Dong Fang Company's shared service center,deeply study its operation status and existed problems,then raise the optimized suggestions from the aspect of organization,service,knowledge,process,performance management and so on.It is expected that the operation and management of the Financial Shared Service Center of Dong Fang company will be beneficial from it,meanwhile,it would be used f or reference and inspiration for other companies in container-transportation industry and others.