The Case Study Of FK China Financial Shared Service

In the past few decades,the development of the world economy is full of vitality and the progress of information technology is also changing with each passing day.More and more enterprise groups are extending their business to all over the world.The scale of enterprises is expanding day by day,and advanced technology is emerging.At the same time advanced business management concepts are generated.As an innovation of financial management concept,shared service also comes into being in this situation.Financial management runs through every value chain of an enterprise,connecting all business departments.Since the first financial shared service center was founded by Ford company in the 1980 s,more and more enterprise groups have adopted the shared financial management mode.Relying on advanced information technology,financial shared service centralizes the work of financial accounting and statement preparation of each member unit in the group for standardized processing under standard procedures.The use of financial shared services enables financial staff to focus more on business support and strategic planning.As an advanced financial management mode,financial shared service creates benefits by management and helps enterprises to enhance value.This paper sorted out the relevant theories of financial shared services at home and abroad and analyzed the establishment and operation of the financial shared center of FK China.FK group's business in China continues to grow.As a multinational group in the pharmaceutical industry,FK group has to face the shackles of the traditional financial management mode,such as low efficiency of financial processing,high cost of management,difficult to reflect the financial value,compliance risk,etc.,as well as the external pressure of drug price reduction,intensified competition,etc.FK group enterprises in China are eager to implement short-term and long-term management improvement and value promotion through financial shared.The application of financial shared services and the demand for benefits from management have become a breakthrough for FK group's enterprises in China.This paper expounds the construction process of FK China financial shared center in detail and analyzes its design planning,implementation steps,personnel management,information platform construction,process reorganization and safeguard measures.The establishment of financial shared center helps companies in China to form standardized financial system and unified accounting platform,reduces financial operation cost and improves financial processing efficiency.The financial personnel are also transforming into strategic financial people,business financial people and shared financial people.The business scope of finance has also been expanded.The construction and operation of financial shared service center has brought more effective management to companies in China,highlighting the value of financial management.It can be said that the establishment and current operation of FK china financial shared center is successful.This is due to the support of the management,the system design customized on demand,the consideration of local characteristics and the simultaneous implementation of integration and shared.FK china financial shared service center also encountered problems in system integration,information risk,communication,cost reduction and efficiency increase,personnel turnover,value embodiment,etc.This paper also puts forward improvement suggestions from many aspects.In the future,there is still a long way to go for financial shared services,such as integration of industry and finance,transformation to market model,service innovation and so on.China's financial shared service started late,but it has developed rapidly in recent years.It is believed that more enterprise groups will practice financial shared service in the future.I hope this paper can help FK group operate financial shared services more effectively in China and provide reference help and ideas for other enterprises that need to develop financial shared services.