A Case Study Of Financial Shared Service In W Group

With the rapid development of economic globalization,the business scale of enterprise groups continues to expand,and the market competition of enterprises develops from local to global.The original accounting method,financial management system and risk management mode have not been able to create value for enterprises,and more and more enterprises begin to use Financial Shared Service to improve the plight of enterprises.As a new financial management mode,Financial Shared Service relies on science and information technology,through process reengineering,to centralize accounting work and improve work efficiency;through strengthening group capital management and control,to reduce costs,to form scale advantage;through eliminating non value-added work,to improve service quality.The financial personnel released by Financial Shared Service focus on the financial strategic management and management accounting of the enterprise,improving the support of financial management to other activities of the enterprise value chain,realizing value-added for the group's financial management and improving the core competitiveness.The introduction of Financial Shared Service in China is relatively late,and the time of theoretical research is relatively short.Most enterprises are still in the initial stage of construction.How to build a high-level Financial Shared Service Center is the common focal point of enterprises.In this paper,W group act as the research object,through field investigation,to obtain first-hand data.On the basis of consulting a large number of references at home and abroad,first of all,from the value chain theory,process reengineering theory,group capital management and control theory and scale economy theory,this paper expounds its theoretical guidance and practical application in Financial Shared Service.Secondly,this paper analyzes the whole process of W Group's Financial Shared Service construction from the construction background,construction scheme,construction process and main business process by using case analysis method.Thirdly,it analyzes the role of Financial Shared Service in the value chain activities of W Group,and explains the operation effect of key factors in its construction process.The case study shows that the establishment of Financial Shared Service can reduce costs,improve capital operation efficiency,improve corporate solvency and profitability,quantify work content,strengthen capital supervision,and improve the quality of accounting information,but there are also deficiencies in group team building and full value chain sharing.Finally,based on the successful experience and deficiency of W Group,we can draw the enlightenment that in order to successfully construct Financial Shared Service,we should take the company's leadership support as the primary guarantee,information construction and process reengineering as the construction basis,gradual change as the implementation means,human resource management as the operation key,multi-dimensional assessment system as the powerful measure,and risk control as the focus.The research results of this paper can provide typical case support for the follow-up theory study of Financial Shared Service in China,and provide reference for W group and other similar enterprises to establish and improve Financial Shared Service.