Research On Process Construction And Reengineering Based On Financial Sharing Model

In recent years,with the development of economic globalization and the Internet,information technology,artificial intelligence,big data and other innovative technologies and concepts,the traditional "distributed" financial management pattern has not been able to satisfy the needs of enterprise(especially multinational group)daily development.The increase in the number of employees has failed to improve the work efficiency which should be promoted,but raised the unit labor cost.In order to fundamentally solve such problems as repeated investment and poor working efficiency,enterprise begin to rethink financial process,organizational forms and working methods.After continuous exploration and practice by scholars and managers,financial process construction and re-engineering emerge as the times required,and Shared services become an emerging and effective means to realize this method.Different from the traditional enterprise management mode,the shared services are more inclined to view enterprise out of macro perspective,through formulating the standardized procedures and optimizing the organizational structure of the enterprise to make financial personnel get rid of mechanical accounting work,participate in the daily business decisionmaking of the enterprise and give play to the value of financial personnel.This paper takes VAL group as an example to study its process of financial process construction and re-engineering based on Shared services.Based on the actual situation of VAL group,this paper analyzes the situation and existing problems of the company's financial process.In the terms of industry background and the internal requirements of group development,this paper demonstrates the necessity and feasibility of the construction of VAL group's Financial Sharing Center,and makes a specific and in-depth analysis on the construction and reengineering of VAL group's implementation process.Process construction and reengineering play a crucial role in the construction of financial Shared,but they are not applicable to every business process.After combining the objectives and principles of financial process re-engineering,five typical financial processes(employee expense reimbursement process,Accounts Payable process,accounts receivable process,capital settlement process,general ledger process)are selected to optimize the design of construction and re-engineering;Secondly,this paper puts forward some safeguard measures and suggestions from the aspects of information system,personnel reserve,knowledge sharing,etc.,so as to ensure the successful implementation of financial process construction and re-engineering;Finally,it evaluates the effect of the group's implementation process construction and reengineering,and summarizes the whole paper.This paper links the theoretical analysis with the case study,which not only helps VAL group to complete its financial management transformation and maximize the group's cost and benefit,but also provides some references for other enterprises in China to build and rebuild their processes based on Shared services.