Research On The Construction Of Financial Shared Service Center Of Construction Enterprises

With the rapid development of the global economy and the enforcement of the national policy,the Silk Road Economic Belt and the 21st-Century Maritime Silk Road(B&R),construction enterprises in China encounter with more opportunities and exploit the international market.Financial management is an important part of business operation,and growing business brings new challenges to financial management.As the traditional practice will be inapplicable to the every-growing needs,companies are now proactively seeking for a solution of the efficient model so as to improve financial management and gain competitiveness.Financial Shared Service Center(FSSC),a new model of financial management,was first introduced in western countries and after years of practice it is widely applied to finance,insurance,telecommunication and other industries.To solve the problem of low standardization,decentralized fund,data quality problem and other operational issues,building the FSSC is a good choice for the management.Base on theories of FSSC,the paper studies the FSSC plan by reviewing the literature and researches and look into construct industry to validate the necessity of building the FSSC for construct companies,start from analyze the issues and root causes during the process and the execution of FSSC plan.Then,the paper introduce a case study to reveal the result and limitations.At the end,the conclusion followed by the case suggests that the construct enterprise should set up comprehensive FSSC plan,including business process go-through,personnel training session and efficient service management mechanism,to fully take use of information system to realize the combination of business and financial management and the risk controlling,and as a result it will fulfill the goal of enterprise magenta efficiency.The paper focuses on the ground issue that how construct company builds it own FSSC to integrate the information-oriented financial sharing technology and the traditional construction business.It is a innovative angle to discuss the logicality of FSSC plan,which will enrich and expand the FSSC related research.Meanwhile,taking a representative example(ZY Co.)and analyzing the detailed development program and the final result will definitely be a valuable reference for the other company,and so as to give application solutions on building up financial shared service center in construct industry.