Blockchain Application in Financial Shared Service Centers for Multinational Enterprises

Abstract

The flourishing digital economy in recent years urges the expanding multinational enterprises to transform financial management. To accomplish efficient operation and effective allocation of internal funds, many multinational enterprises worldwide have established a financial shared service center, shortened as FSSC. Based on the literature review, this thesis summarizes existing problems in FSSC of multinational enterprises, such as information asymmetry, data security that cannot be ensured, high labor cost, and low efficiency of accounting business processing. Then the author proposes the application of blockchain in solving these issues and takes Haier as an example to provide feasible methods of optimizing its financial shared service center with the advantages of blockchain.