Research On The Path And Effect Of Business-finance Integration Of S Group Under The Financial Shared Service Center Mode

With the development of IT in the 21 st century and the emergence of new generation information technologies such as the Internet,virtualization,new generation artificial intelligence,mobile Internet and blockchain,while the group is growing and developing continuously,it also faces problems such as increasing institutions,complex equity structure and increasing number of subsidiaries.This makes financial management more difficult for the group.The financial coordination efficiency between the group and its subsidiaries is not high.Management costs and financial risks are also increasing.Traditional financial information systems cannot meet the development needs of multinational companies.The processing of financial statements between group headquarters and subsidiaries becomes more complicated.Due to the popularity of financial shared service centers(FSSC),it separates consistent,transactional,complex and standardized business within enterprises and integrates them into a new department unit with a "factory" management approach to provide enterprises with unified,standardized,effective and compliant professional technical consulting services.Then implement business-finance integration under FSSC model to greatly improve groups work efficiency and value.Therefore business-finance integration based on FSSC has become future development trend for Chinese finance.At same time China has also given more specific planning: at end of 2021 Ministry of Finance has already issued a five-year(2021-2025)national financial informatization construction plan which clearly defines national financial informatization construction model for China in future period.The plan proposes a new era accounting informatization development system while proposing that one challenges faced by accounting informatization during “14th Five-Year Plan ” period is continuous innovation of new technologies and continuous changes in business models making enterprises demand for business-finance integration stronger.This article first briefly reviews research dynamics of relevant theories at home and abroad defines and elaborates on related theories such as financial sharing process reengineering concept flat organization business-finance integration etc providing necessary background and foundation for subsequent theoretical analysis.In following case analysis based on preliminary situation of S Groups business-finance integration under FSSC model using organizational structure theory and business process reorganization theory this thesis analyzes deep driving force for S Group to carry out business-finance integration from two aspects: external driving factors and internal driving factors.Specifically in external driving factors most important thing is to adapt to changing operating environment enhance requirements for risk control ability while in internal driving factors it is to take specific measures according to financial development strategy break through limitations own development.On this basis this thesis discusses path selection implementation effect analysis when S Group promotes initial implementation further implementation business-finance integration respectively.In path selection part this thesis starts from perspective scale economy theory business-finance integration theory with continuous growth expansion S Group becoming world-class oil enterprise overall strategic goal determines implementation finance strategy for implementing business-finance integration.This finance strategy includes following aspects: establishing internal infrastructure adjusting organizational structure rebuilding core business processes establishing intercommunication information system between finance operations optimizing talent team.In effect analysis part this thesis uses qualitative quantitative methods combined longitudinal analysis 2015-2021 financial data explores what kind impact cost data quality fund management ability finance system have during process implementing business-financial integration Results show that indeed brought certain positive effects group Finally summarize whole text draw research conclusions enlightenment.Research shows that FSSCs BusinessFinancial Integration model can effectively promote close combination between operations departments finance departments thereby improving S Groups operational management level enhancing market competitiveness providing innovative practical solutions improve enterprise management mode bring more value creation S Group.This thesis takes the financial sharing service center as the platform to deeply study the path and effect of industry and finance integration of S Group,and combines the characteristics of the industry and the company to study industry and finance integration,hoping to provide useful reference for companies in related industries to build financial sharing service center for industry and finance integration,Furthermore,it is hoped that the analysis in this article will provide a certain reference for further developing and perfecting industrial and financial integration.