Rsearch On Financial Reengineering Of X Company Based On Shared Service

With the increase of business types,large-scale enterprise groups have to set up branches in different regions,which not only leads to the continuous increase of operating costs of enterprises,but also leads to the weakening of the control of subordinate branches of group companies.Therefore,many large-scale enterprise groups begin to try the new management mode of sharing services.In the field of finance,this mode has given birth to the Financial Sharing Service Center.Its working principle is to centralize all kinds of basic financial businesses and carry out unified processing according to standardized process,so as to reduce the working cost of handling similar businesses in different regions and improve the working efficiency.Because the processing flow of the same kind of financial activities of the subsidiaries of the enterprise group is not exactly the same,in order to ensure the smooth operation of the Financial Sharing Service Center,it is necessary to reengineer the existing financial processes of the enterprise group.This paper takes x group as the research object.Firstly,it analyzes the problems existing in the current financial process of X group,such as lengthy approval process,no real-time feedback of reimbursement progress,nonstandard write off of advance payment,confusion of tax management process and multi link manual processing.Secondly,it redesigns the financial processes of employee expense reimbursement,purchase accounts payable,sales accounts receivable,capital management,tax management,asset management,budget management,etc.,so that the reengineered financial processes can achieve the management objectives of reducing the operating cost of the enterprise and improving the business processing efficiency.Then,this paper puts forward five measures to ensure the smooth operation of the financial process after reconstruction,which are to change the organizational structure and corporate culture,improve the rules and regulations of the enterprise,strengthen the training of financial personnel,and improve the hardware conditions of the enterprise.Finally,this paper uses the method of questionnaire to analyze and evaluate the effect of financial process reengineering of X group.The research of this paper will help x group speed up the construction of Financial Sharing Service Center,improve its financial management level,and provide useful reference for other large state-owned enterprises to introduce financial sharing service center and carry out financial process reengineering.