Research On Financial Process Reengineering Of H Company Based On Shared Service

In recent years,the market environment is changing and the original financial processes of enterprise can not fit the needs of our times.A lot of labor has been occupied but work efficiency is still Inefficient.Consequently,financial process re-engineering emerges as the times require.Many scholars have put forward a lot of methods to achieve it,shared service center has become a new way of financial process re-engineering.Many enterprises make finance process re-engineering and seek financial management transformation through shared service center.It can liberate financial personnel from the mechanical and repetitive accounting work.At the same time,more and more accountant are able to engage in many management activities and they will add their value to the enterprise.In this paper,we will take H group as an example and carry out financial process re-engineering based on shared services center.In this paper,combining with the actual situation of H group,we select five financial process to carry out re-engineering based on shared services through process optimization matrix: employee expenses reimbursement process,purchasing and payment process,sales and receivables process,general ledger accounting process and financial settlement process.We also analyze the status of processes from many aspects and find present problems of these processes.At the same time,we use full time evaluation method to calculate 5 financial processes and its subordinate processes.Based on the result of calculation and Analysis on current situation as well as existing problems,we put forward re-engineering improvements for each subdivision process.According to the improvement opinion,we reconstruct each segmentation process and describe them in details based on shared services center.In this paper,we combine theoretical analysis with case study.We also use qualitative and quantitative analysis to carry out financial process reengineering of H group based on shared services center.It can help H group to complete financial management transformation and cost benefit maximization.It also provide certain reference for pharmaceutical enterprises or large enterprises who want to carry out financial process re-engineering based on shared services center in the future.