中国财务共享服务中心发展外文翻译资料

Financial Shared Service Center Development in China

Abstract: Along with the increasingly fierce competition in the market, rising labor costs and other reasons, large enterprises gradually began to adopt financial sharing center of this new type of financial organization. These are the scattered around the financial department together set up financial sharing center, unified organization and operation management, to save financial and human cost, improve the efficiency of financial processing, reduce the financial risk control, etc. Starting from the related concepts, characteristics, and methodology system of financial sharing center, this paper analyzes and summarizes the related theories of financial sharing center. Then, taking ZTE Groups financial sharing center as the exploration point, this paper discusses the establishment, operation and problems of the financial sharing center in Chinese enterprises based on practical cases, and gives corresponding Suggestions based on the actual situation of ZTE Group and the reference of relevant materials. The main research contents of this paper are as follows: First, based on the references and their own sorting induction, the financial sharing center related concepts are discussed. Secondly, it analyzes the existing financial management problems before the establishment of THE FINANCIAL sharing center of ZTE Group, as well as the construction plan of the financial sharing service center, mainly including internal accounting, organizational structure, information system and sharing ability, and finally summarizes the important success factors of the establishment of ZTE financial sharing center. Thirdly, taking THE FINANCIAL sharing center of ZTE Group as a refract point, this paper makes an in-depth discussion on possible problems and optimization ideas in the establishment and operation of the financial sharing center of Chinese enterprises.

Keywords: Finance, Sharing, Service, Approach, ZTE, China

1. Introduction

Since the 1980s, economic globalization has been expanding capital all over the world, and the competitive environment of enterprises has changed greatly. At the same time, science and technology and information are also developing rapidly. Driven by these forces, more transnational groups appear, and the existing ones are also increasing their pace of expansion. As an important department providing support for enterprise accounting and operation, finance naturally needs to keep pace with the times, improve service efficiency and quality, and create more value for enterprises. It is not difficult to find that with the increase in the number of subsidiaries and branches of multinational groups. A lot of repetitive work has appeared in accounting, such as reimbursement, accounts payable accounting and so on. Under the traditional accounting method, each branch needs to be equipped with a complete accounting process, which greatly increases the personnel cost. At the same time, as branches are often far away from the headquarters, it is not conducive for the headquarters to timely monitor their financial and operational conditions, and there are also risks of financial fraud, which increase both operational and financial risks. In order to better serve the development of enterprises, help enterprises to save costs, efficient completion of enterprise Financial work, a new accounting Service model emerged - Financial Shared Service, referred to as Financial sharing.

Financial sharing service is to separate the non-core parts of the traditional accounting process with high repeatability and process them uniformly in the established Financial sharing center (FSSC). That is, the original old accounting division of labor resources integration, to achieve the standard, process, high efficiency, low cost, improve the overall operating efficiency of enterprises, to help enterprises better development.

As a new organizational form, financial sharing center has only been gradually popular in the past 30 years, and it is mostly used in multinational groups or large multi-subsidiary organizations or subsidiaries. As the financial sharing center is quite different from ordinary financial departments in terms of organizational process and personnel allocation, there are differences and advantages, and inevitably there are also many problems.

As the worlds leading provider of integrated communication and information solutions, ZTE group has a number of subsidiaries and subsidiaries. Due to the inconsistency of financial procedures, the subsidiarys financial and related departments are in their own hands, and there is no unified process and standard for centralized control, which is not conducive to the implementation of the groups overall strategy. Financial personnel miscellaneous and varying levels of financial work efficiency is low, professional division of labor is not obvious. The information integration is not perfect and the advanced accounting system is not used. As a result, accounting professionals need to input data repeatedly, resulting in the waste of human resources. In this case, the group headquarters control ability to each branch is also low, the capital management cannot achieve the integration advantage, the financial risk headquarters is difficult to detect and track in a timely manner, the implementation of financial transformation strategy becomes imperative.

Survey (from financial Shared services present situation and prospect of Chinese enterprises by deloitte'), Chinas enterprises in promoting the transformation of financial strategy, the three major tasks for priority cost savings, process reform, internal control and risk management, and financial Shared services becomes just push this three major tasks of the effective means to achieve the ideal. Therefore, in order to strictly control risks, give play to capital integration and econom

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