Research On The Construction Of Financial Shared Service Center Of Z Group Corporation

The external environment and internal conditions of enterprises have undergone profound changes with the new normal of economic development and the extensive application of information technology in the Internet era.Business management has put forward new requirements for financial operation support capabilities,risk management and control capabilities.In particular,group enterprises which have wide business distribution area and numerous subsidiaries pursues to satisfy the needs of group management and control after business expansion.The responsibilities of financial management have shifted from focusing on transaction processing to decision supporting which requires financial staff to undertake the forefront business and participate in budget management of business units,cost analysis,benefit assessment,etc.For a long time,Z Group focuses on mid-grade and high-grade hotel investment and operation management.At present,it has 33 member hotel companies and has gradually developed into a hotel group with regional leading influences.In recent years,the transformation and development of Z Group's business has brought the need for financial management transformation at the same time.With the continuous expansion of the Group's scale,the model of current financial management faces many challenges: inefficient financial processes and hysteretic management of risks,financial functions are difficult to fulfill,management costs remain high,financial value is not fully utilized which cannot be effectively supporting the group's development strategy and so on.Objectively speaking,The Z Group urgently needs to re-plan the functional positioning of the Group's finances,to integrate financial resources,to reduce management costs,to improve management efficiency and transparency,to strengthen financial decision support for business and to strengthen the Group's core competitiveness at last.By combing the relevant references of Financial Shared Service Centers at domestic and abroad,the thesis fully studies the applicability of the financial sharingservice center,its establishment conditions and its application value.Through on-the-spot investigation and interview,the thesis analyzes the current situation of Z Group's financial management,summarizes the problems which need to be solved urgently in financial management,and analyzes the necessity and feasibility of Z Group's establishment of Financial Shared Service Center.Based on the theoretical research and the experience of the successful case study of the Financial Shared Service Center,the construction plan of the Z Group's Financial Shared Service Center was designed,including the overall design of the sharing center,the business process reengineering,the design of the organizational plan,and the integration of information system,the design of the operation management system,etc.Meanwhile,the thesis proposes the possible risks as well as countering measures and the suitable Financial Shared Service Center for Z Group is finally built.By building the Financial Shared Service Center,Z Group has improved the efficiency and quality of transaction processing and released more financial resources for the support of Group's strategic and business decision.Thus,Z Group is fully promoting the improvement of corporate financial management and improving the Group's resource integration capability and core competitiveness.On the other hand,it has certain guiding significance and reference value for those enterprises that are preparing to implement the Financial Shared Service Center,especially for the same industry and the same sized group enterprises.