Research on the construction of corporate financial shared service centers in the financial world ho

There are three main strategic structures of the financial shared service center, global center, regional center, and professional center. The first two types of centers are based on geographical criteria, while the third type of centers is based on individual types of business processes.

1. Global CenterIt is to handle all the business processes that can be centralized in the enterprise around the world through a unified shared service center. The advantage of the global center is that the economies of scale are obvious, but it needs to deal with the laws and regulations of different countries and regions, needs to face differences in language, culture, time difference, etc., and needs to have a fully integrated system, therefore, this model is the most difficult in actual operation, except for some multinational enterprises with particularly advanced management, such as Whirlpool, etc., which are rarely adopted by general enterprises.

2. Regional centersIt is a model in which enterprises concentrate and integrate their financial work into one or more business units, fully realize economies of scale, and reduce the overall cost of enterprises. In this model, the company divides the global business into several regions, and then centralizes the business processes that can be centralized into a financial shared service center in one region. This method is less difficult to set up than a global center and is adopted by more enterprises.

3. Professional centerMainly based on a single or single type of business process as the standard, the establishment of financial shared service centers around the world, such as the financial shared service center specializing in the processing of accounts payable, the financial sharing service center specializing in the processing of fixed assets, focusing on eliminating duplication of work, providing single or single process services.

For non-multinational companies, national and regional centers can be established based on geographical criteria. In the process of establishment, regional centers can be established for piloting, and after the pilot is successful, the experience of regional centers can be replicated throughout the country and national centers can be established. In the future, if we go abroad and achieve internationalization, we can further establish regional centers and global centers.

The first is to centralize the establishment of a financial shared service center.

Pooling staff from different financial organizations in one specific location and establishing a shared service center is a common method of achieving shared services, and has been adopted by many multinational enterprises. This approach requires the concentration of relevant financial personnel in different locations within the enterprise into a single location, i.e., the concentration of financial personnel in a low-cost, tax-advantaged location. At the same time, in order to adapt to the operation of the shared service center and improve its operational efficiency, enterprises often reorganize and re-engineer their processes.

In addition, in the process of establishing a shared service center, enterprises are often required to implement a new unified system to replace the original number of scattered and traditional systems in the enterprise, which brings to the enterprise a reduction in personnel costs, fixed asset costs and information system costs. Under this model, the front-line business personnel who were originally responsible for accounting operations in the enterprise will become the staff of the financial shared service center, which is still part of the enterprise with only considerable autonomy, and its costs are generally allocated back to the internal departments of the enterprise that use its services.

The second is to build a new financial shared service center.

The establishment of a new SSC will trigger a major restructuring of the organization, requiring a new location, new people, new information systems, and new processes, all of which will create sufficient conditions for the SDC to operate independently.

Due to the need for a completely new factor for the entire shared service center, the disadvantages were obvious: it was costly, slow to set up, and could not respond to the huge and urgent financial sharing needs of the entire group.

The third type is the virtual financial shared service center.

The virtual financial shared service center does not need to gather people in a unified location, but uses systems and other technologies to connect employees in different geographical locations, and the biggest disadvantage of this model is that the lack of regular face-to-face communication will lead to difficulties in cooperation between employees in different regions. Moreover, some organizations also find that in the existing technical level conditions, the establishment of virtual shared service centers required by the enterprise intranet, conference and other facilities often do not meet the needs of enterprises. Still, a virtual shared service center is an effective alternative when organizations are unable to achieve the staffing and geographic configuration needed to establish a shared service center surface.

1. Reduce costs and improve efficiency.

Reducing costs is a common goal for all businesses that set up a financial shared service center, because after all, the business is a for-profit economy. It has also been proven that the financial shared service center has been effective in reducing costs. According to Accenture's survey in Europe, more than 30 multinational companies that have set up financial sharing centers in Europe have reduced their financial operating costs by an average of 30%.

The establishment of a financial shared service center requires a unified financial system of the enterprise, sorting out the financial process of the enterprise, and finally promoting the unification and standardization of the financial of the enterprise, which undoubtedly helps to reduce the financial cost of the enterprise and help to improve the financial efficiency of the enterprise. According to ACCA's survey of Chinese companies, more than 50% of Chinese companies believe that the implementation of shared services is very important to reduce financial costs and improve the efficiency of financial processes.

2. Strengthen financial control and reduce risks.

Before the establishment of financial shared service centers, the finances of many enterprises were often scattered, and subsidiaries, branches, and even the departments below had financial departments and were equipped with financial personnel. This decentralized financial management model not only weakens the company's control over finances, but also hides huge risks. The establishment of a financial shared service center requires the concentration of relatively decentralized financial power, which is a good opportunity for enterprises to strengthen financial control.

Through the further strengthening of financial control, the risks related to management and control can naturally be reduced.

3. Promote financial transformation.

This goal may be even more important for Chinese companies. Because the overall level of the financial departments and financial personnel of Chinese enterprises is relatively low, most of the personnel are mainly engaged in accounting work, while some senior financial personnel are relatively insufficient. Through the establishment of a financial shared service center, the enterprise has standardized a large number of basic financial work, improved the efficiency of financial accounting, greatly reduced the demand for basic financial personnel, and enabled many financial personnel to be liberated from cumbersome accounting work and become strategic finance and business finance, so as to achieve financial transformation and upgrading of the enterprise.

Hello, the reason for the construction of the financial sharing center is: the financial sharing center, in fact, is the overall financial management of the group company, and there is a good control when doing consolidated statements and analysis 1. If you want to establish a financial sharing center, you must first ensure that the subjects and subject content set by each subsidiary are consistent with the form of financial analysis; 2. After the establishment of the financial sharing center, the basic financial sharing center can realize the capital control of the financial sharing center, which is conducive to the effective use of funds and the integration of resources 3. The financial personnel of the subordinate companies have changed from simple bookkeeping and role to business partners, so they can dig deep into the company's business and realize the rapid transformation of financial management and accounting. It is a good opportunity to reduce redundancy and increase efficiency.

Enterprises suitable for the establishment of financial shared service centers: financial enterprises, service enterprises, manufacturing sales outlets, chain enterprises, communication services; Enterprises that are not suitable for the establishment of financial shared service centers under technical conditions: manufacturing factories, exploration industries, enterprises with a low degree of informatization, etc.

The financial sharing center generally serves the branches and offices of manufacturing enterprises with high personnel quality. These branches, the office often only undertakes sales tasks, and does not have complex financial accounting needs. For example, Dell's sales outlets in various regions of China, which only have one sales team and service staff, can handle business through standard orders from the headquarters in Xiamen, and the financial information can be shared with Xiamen.