Construction And Operation Effect Analysis Of ZTE Financial Sharing Service Center

With the deepening of economic globalization and the rapid development of information technology,a new digital era has completely arrived.The accompanying diversified business model urges enterprises to continuously expand their business scope in pursuit of profit maximization.In this process,there are corporate behaviors such as acquisition,merger and reorganization,so more and more multinational enterprises come into our sight.However,the complex organizational structure,scattered business sites and repetitive post setting of group enterprises make the operating costs of enterprises higher and higher,while the control ability is weaker and weaker.Therefore,the enterprise in order to improve the competitiveness in the market,began to look for more efficient,more innovative and adapt to the rapid development of enterprise management mode to reduce business operating costs,improving the efficiency of the enterprise purpose,after a period of exploration,the scholars found that applying scale effect in financial management can be very good solve this problem,Hence the financial sharing service.Financial shared service mode is a new financial management mode that is attached to the information technology platform,centralized processing of financial management work according to the standardized operation manual,and the main goal is to improve financial work efficiency,save operating costs,strengthen risk control ability,and create more enterprise value.This mode is characterized by centralized data information,high operation efficiency and relatively low operation cost.Therefore,since 1980,after the financial shared service model was first proposed,after nearly 40 years of continuous development and innovation,it has been widely used by large group companies.According to statistics,more than 90% of fortune 500 enterprises have built or prepared for financial sharing service centers.As the first enterprise to set up a financial sharing service center in China,ZTE is the first to realize the innovation of financial processing mode from "scattered" to "centralized",and has rich experience in the construction and operation of financial sharing service center.In view of the above background,this paper chooses ZTE Corporation,a benchmark enterprise,as a case study to analyze and discuss the construction and operation effect of its financial shared service center.First of all,the key factors of the implementation of financial shared service and related literatures of the two dimensions of platform construction are comprehensively sorted out,and then the theoretical concept of financial shared service,its organizational structure,development history,construction significance and related theories are elaborated.Then to ZTE financial Shared services center as a case study,focuses on the construction of ZTE’s background,financial Shared services center construction content,development and operation,by comparing before and after the center operation management cost,financial cost,asset size,number of employees and other financial data,it is concluded that the center after the operation,significantly reduce the operation cost,The financial management level,capital control level and financial work efficiency are greatly improved,and the guarantee factors for its successful operation are summarized,including: clear strategic objectives,optimize organizational structure,restructure business processes and introduce intelligent information system.At the same time,it points out the problems still existing in the current operation of the center,such as unclear career planning of personnel,insufficient integration of information system,imperfect work assessment mechanism and insufficient integration of industry and finance,and gives optimization suggestions.Finally,the future development trend of ZTE financial shared Service Center is prospected and a conclusion is drawn.With the vigorous development of society and economy,enterprises will pay more attention to the problem of financial management,and the construction and improvement of financial sharing service center is imperative.Therefore,it is hoped that the research results of this paper can provide reference for ZTE ’s own optimization and upgrading as well as other enterprises preparing to build this platform.