Research on Financial Shared Service of M Company
Abstract
In nowadays, the economic environment is constantly changing because of the
development of information technology. To remain a company`s competitive edge, it has
to make sure its management method keep pace with the times. Financial shared service is
new management method which able to adapt the development of information technology
and help the company expand quickly. It can help the company gain more profit with lower
cost, and it has been used in daily management by a lot large multinational company.
Through modernization information platform, financial shared service can integrate
scattered background works and cut the duplicate tasks. Furthermore, it will bring many
advantages such as standardization of the process, integration of finance and business,
centralized management of funds, simplifying the structure and reducing cost. After
decades development, financial shared service has shown its practical value.
This project use M company as an example. It will start with a basic introduction of
financial shared service on the definition, influence factor, and objective inevitability. It
will also combine FSS and resources integration theory, economies of scale theory,
competitive advantage theory, internal customer service theory and process re-engineering
theory. By analyzing the basic information and operating pattern of financial shared
service of M company, it shows the issues of risk control, performance evaluation and
excitation, informatisation integration, operation flow and task assignment. By increasing
awareness of risk control, building performance appraisal system, integrating
informatisation level, improving the mechanism of operation and management and
strengthen stuff communication training, it shows a positive development. General account
receivable and payable, general ledger, expense reimbursement and fixed assets are driving
to maturity stage. It provides relevant information and scientific method for business plan
and decision, process control and business evaluation. However, there is still some room to
improve on business operating and management, employee management and efficiency.
Key Words: financial shared service, risk control, Informatization Integration,
Business Process Reengineering