Researching Of ABB Financial Shared Service Center Application And Optimization

Nowadays,given the increasing economic globalization,the ever-changing Internet information,and science and technology,big data,cloud computing,Internet plus and other concepts are emerging.Against such a backdrop,the giants of multinational enterprises and domestic conglomerates seize the opportunities of the information technology evolution,creating new changes and developing quickly.Meanwhile,information technology evolution motivates each large-scale enterprise to formulate new strategic plans and goals.To this end,the conglomerates have to establish a large amount of branch companies and subsidiaries around the world.Although the expansion of enterprises brings more demands and market,it also brings such pressures as bloated organizations,a growing number of office personnel,increasing operational costs and management difficulties.More importantly,the branches of financial management increase constantly and become more and more complicated.It is due to the financial management problems caused by the expansion of conglomerates that each corporation and economists of various countries,using deep evolution of financial management as research orientation,put forward various research topics to solve such problems.Thus,Financial Shared Service Center emerges as the times require and is quickly accepted by conglomerates with its huge advantages.Financial Shared Service,originated in 1980s,is a kind of the operating mode that rebuilds,processes and standardizes the financial business which is scattered in various business units and has high repetition rate,and that concentrates the financial business on the financial shared service center to operate.To put it simply,financial sharing,with the focus on normalization and standardization of accounting work,provides the large-scale businesses with high quality,efficient and professional financial services.It also could improve the financial information quality,effectively reduce the financial risks,support the effective operation of the corporation's strategy and enhance the core competitiveness of the corporation.Combining theory with practice,at the base of treatises and thesis of the financial shared service at home and abroad,this paper point out the scope of application,operating model and advantages of financial shared service.This paper takes the financial shared service center of ABB group as an example,pursue management of financial shared service center of ABB group in terms of current situation further.After analyzing the reasons deeply,this paper proposes some countermeasures to achieve the strategic goals of the core competence,to enhance working efficiency and to lower costs.Moreover,this paper is aimed at providing benefical reference and experience for those business that are willing to structure and operate the financial shared service center.