Study On Optimizing Financial Sharing Service Center

This paper introduces the background of global business management and the development of Chinese insurance companies,and elaborates the necessity of establishing and implementing the financial sharing center.Under the background of economic globalization,the cross-regional operation of enterprises has become more and more common.With the continuous expansion of business areas,the scale of enterprises and their branches is also expanding.With the continuous extension of management chain,the traditional decentralized management mode has exposed a variety of problems.With the advent of the information age,enterprise management gradually take information-based means to make the management more efficient.The sharing service management mode has also emerged as the times require,with the enterprise management mode transforming from the traditional decentralized type to the sharing type.As financial management is the most important part of enterprise management,financial sharing service has naturally become the inevitable trend in the financial management development.With the expansion of the insurance business range,the scale of insurance companies which includes a lot of national insurance companies is also growing,such as China Life Insurance Company,PICC,Ping An Insurance Company,Tai Kang Life Insurance Company,Tai Ping Life Insurance Company and other well-known insurance companies.These companies run more than hundreds of billions of annual coverage and they have thousands of branches.The operating risk of insurance company increases day by day with the expansion of operating area.In order to better manage risks,insurance companies must strengthen internal management,especially the financial management,and the creation of financial sharing center has become an important means for insurance companies to improve their financial management.This paper introduces the research status of financial sharing at home and abroad through literature research,elaborates the theory of modern enterprise standardized management system,and introduces the Process Reengineering Theory,Process Maturity Theory and Enterprise Maturity Theory raised by process master Michael Hammer.Based on these theories,this paper analyzes the characteristics,necessity and influencing factors of the financial sharing center of life insurance companies,and summarizes the operation management system of the financial sharing center of the companies.At the same time,through the case study,this paper introduces the financial organization structure of New China Life Insurance Company's Sichuan Branch and the operation of their financial sharing center,and points out the problems of their financial sharing center,such as the large mobility of personnel,the poor coordination between departments,the low degree of integration of information systems,and the fictitious performance management.Feasible optimization scheme is also put forward in the article.This includes some optimization suggestions related to centralized management mode,improvement of information system performance,human resource management and other aspects,so as to improve the efficiency and quality of the company in the management process.The specific optimization suggestions include the following.In terms of centralized management mode,it is proposed to establish a national financial sharing center in order to enhance the management level and improve the management efficiency.In order to improve the performance of information system,this paper proposes to strengthen the integration of business and finance.Companies can strengthen the financial sharing center with the help of artificial intelligence,and promote the connections between internal and external system software.In terms of system interaction and integration,it emphasizes the integration of five major systems,including cost control,capital,SAP,image and OA system,and then discusses the details.In the aspect of human resources,it systematically analyzes the key performance indicators,workload setting,personnel training,job rotation and career planning and other aspects.In terms of quality management,it emphasizes the establishment of a healthy and feasible quality management system.To support the effective operation of financial sharing center,it is vital to establish a professional,progressive and quality-oriented corporate culture.This paper is based on the problems which are found in the financial sharing center of New China Life Insurance Company's Sichuan Branch.By connecting theory with practice,the paper further analyzes and puts forward optimization suggestions,which are practical and operable.However,the problems and optimization suggestions proposed in this paper are only aimed at the current situation of financial sharing center.As the financial sharing center is still developing,there will be more problems or better optimization schemes.This paper cannot give consideration to all aspects,which is a major regret of this paper.