Analysis On The Implementation Path And Effect Of Business-Finance Integration Under The Financial Sharing Mode Of Z Company

With the accelerating trend of economic globalization,many large group companies are actively expanding their business scale in the face of rapid changes in the external environment and fierce market competition.However,with the growth of business volume,problems such as high operating costs,lack of standardized management,separation of business and finance,uneven quality of accounting information and ineffective internal company control have gradually emerged,leading to a significant decline in financial management efficiency.In order to solve these problems and improve efficiency,companies need to find alternative ways to optimize their original financial management model.In this context,the concept of financial shared services has begun to appear in the public eye.As a new financial management model,practice over the years has proven that financial shared services can not only reduce the costs and expenses of daily operations,but also improve operational efficiency,strengthen internal control and management,and enable more effective decision-making and resource allocation.At the same time,as academics and practitioners continue to explore and research,it has been found that the integration of business and finance based on the financial sharing model is a new trend in financial management model change.This emerging financial management model is conducive to promoting the transformation of finance staff from traditional accounting to management accounting.Research on financial sharing based on a financial integration perspective is an emerging research direction this year.Research in this area,especially in the practice sector,can help companies achieve their goal of maximizing corporate value,and can also help some developing companies get out of the dilemma of inefficient financial management.Based on the theories of process reengineering,scale economy theory,flat management theory,and synergy theory,this paper chooses the first batch of Z Groups that implement financial sharing in my country as an example and analyzes the financial situation of Z companies under the financial sharing model using the case study method and the literature analysis method.The implementation background,path,and implementation effect of integration are analyzed and studied,and the specific path and ideas for financial shared service implementation are summarized,as well as how the enterprise group promotes the integration of both finance and business under the financial shared service model and its implementation effects.This paper first sorts out the literature and theories related to financial sharing and business-finance integration,and then studies the background of the construction of Z company’s financial sharing service center and the shortcomings of the traditional decentralized financial management model,and draws the motivation for the establishment of Z company’s financial sharing service.Followed by an in-depth analysis of the specific implementation path of businessfinance integration under Z company’s financial sharing model,it is concluded that the organizational design of Z company’s financial sharing center,business process reengineering,construction of business and financial information systems,and the introduction of blockchain technology are of great importance to the realization of corporate finance.The integration of business and finance is critical in promoting the transformation of traditional financial accounting to management accounting.This paper finds that company Z’s business-finance integration based on financial sharing has achieved remarkable results,and has greatly improved in terms of management cost control,operational risk control,business process processing efficiency,and internal management and control capabilities;There are problems such as unreasonable business process design,business process processing efficiency to be improved,low level of business and financial information system construction,and lack of professional talents.Aiming at these problems,this paper gives the corresponding optimization strategy.Finally,this paper draws conclusions: financial information construction is a necessary condition for business-finance integration;business-finance integration under the financial sharing model can effectively promote the development of enterprises;scientific talent management can effectively boost enterprises to carry out in-depth business-finance integration.This paper believes that large enterprise groups should take the initiative to establish a financial shared service center.The role of financial shared services is to help enterprises realize the integration of business and finance.This is also an important path for enterprises to become bigger and stronger and effectively improve their core competitiveness.This paper combines the analysis of the financial sharing center model and the integration of business and finance,and the conclusions can provide effective reference and reference for enterprises that plan to implement the transformation and upgrading of financial management models.However,it is worth noting that due to the differences between industries and individual enterprises,if an enterprise wants to implement financial shared services or establish a financial shared service center,it needs to combine its own characteristics,otherwise it may lose everything.