Study On The Application Of Y Group’s Financial Shared Service Center

In this day and age,with the increasingly fierce competition among enterprises,many companies would like to not only reduce costs and increase profits,but also diversify risks by adopting a diversification-strategy.At the same time forming an internal capital market to provide a solid foundation for the future of enterprises.However,how to generate synergies is a difficulty faced by the senior management teams of enterprises.It is obvious that under the traditional financial management model,business cannot be well integrated with finance in the organization structure or information system.Under this background,business cannot create maximal value,and even the long-term development of enterprises is ignored for short-term benefits.At the same time,due to the enterprises is continuously expanding,and so do the financial organization,the cost of enterprise management is rising,therefore,the financial transformation is vital,in a bid to solve the problems above,the financial shared service center is the best sought-after option.This thesis based on the Y Group,through case study and literature research to describe the detailed process in establishing a financial shared service center to promote the integration of business and finance.Its establishment process mainly includes preliminary planning,organizational structure reforming,business process reengineering,business and financial system docking,and operation management system establishment.The study found that the financial shared service center can lend a hand to solve the problem of non-integration of the business and financial.Although we have made great progress in financial shared service in China,there may be a lack of innovation in the research of its establishment process,but it does not mean the establishment process is plain and simple,the financial shared service center may not be a“one size fits all” approach.In conjunction with the recent development and future development trends of financial shared center.This thesis hopes to provide reference for other similar enterprises to achieve financial transformation from Y group.