Financial Shared Service Center Research Articles

Research on the Construction of Financial Shared Service Centers for Group Companies

With the rapid development of economic globalization and information technology, the number of global enterprises is growing rapidly, and the scale of enterprises is also constantly expanding. More and more enterprises are expanding their business overseas. The increasing complexity of business management is caused by the increase in business. The models of traditional financial management can no longer meet the development needs of modern enterprises. In order to strengthen internal control and improve market competitiveness, enterprises have begun to apply the financial shared service center model to solve problems in the development process. This article introduces the meaning, role, goals, and differences of financial shared service centers, and explores how to build a financial shared service center model. Finally, a summary is provided.

Influence of the financial shared service center on the quality of accounting information

Purpose This research endeavors to assess the influence of financial shared service centers (FSSCs) on the quality of accounting information within China’s A-share listed companies. Using a multi-period difference-in-differences (DID) model, the study aims to empirically examine the correlation between the adoption of FSSCs and the quality of accounting information. Design/methodology/approach The study uses a robust methodology to evaluate the relationship between FSSCs and accounting information quality (AIQ). Leveraging the established FSSCs within China’s A-share listed companies as the treatment group, this research adopts a multi-period DID model. This approach enables a rigorous empirical examination of the influence exerted by FSSCs on the overall quality of accounting information. Findings The present study delves into the impact of FSSCs on AIQ and conducts empirical analysis using data from Chinese A-share listed companies between 2004 and 2021. The findings substantiate that: FSSCs significantly bolster the quality of accounting information, a conclusion retained even after robustness tests. Specifically, FSSCs exhibit a positive correlation with the comparability, timeliness and disclosure quality of accounting information while demonstrating no significant influence on relevance, robustness and reliability factors. Research limitations/implications First, the analysis primarily rests upon data from Chinese A-share listed companies between 2004 and 2021, potentially constraining the generalizability of findings across diverse contexts. Second, despite controlling for various factors, unobserved variables or external factors not encompassed in the model might influence the relationship between FSSCs and AIQ. Additionally, the study’s reliance solely on quantitative data confines exploration into qualitative aspects that might offer a more comprehensive understanding of FSSCs’ impact on AIQ. Practical implications This paper establishes a nuanced connection between FSSC operations and AIQ, furnishing direct empirical evidence for their economic implications and propounding a novel avenue for augmenting AIQ. And, it furnishes guidance for forthcoming FSSC development, accentuating the necessity of harnessing information technology to enhance the relevance, reliability and robustness of accounting information. Originality/value Majority of prior empirical studies assessing AIQ have focused on singular indicators, lacking a comprehensive depiction of its overall level. To address this gap, this paper pioneers the construction of a comprehensive index for AIQ, providing a holistic representation of its level. Furthermore, this study stands as the inaugural investigation into the relationship between China’s A-share listed firms’ FSSCs and the quality of accounting information.

Blockchain Application in Financial Shared Service Centers for Multinational Enterprises

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.

Research on the Application of Financial Sharing Center Based on Value Chain Theory Take the Mengniu Company as an Example

The growing size of enterprise groups and the rapid development of information technology have given rise to financial shared services. They have brought about changes in the financial management model, improved the efficiency of accounting processes, and strengthened the control of molecular companies by reconstructing financial processes. However, there are some shortcomings in the current financial shared services, for example, the application of financial shared services is mainly focused on the operational level, concentrating on post-event processing, lagging behind the demand and facing difficulties. Therefore, this paper takes the financial shared service center of Mengniu Group as the research object and focuses on how to use new types of financial information technology to realize the digital transformation of the enterprise financial management process. The case is analyzed using relevant theories. The financial shared services model has improved the efficiency of modern enterprises' production and operations, expanded the analysis and decision support functions of finance, and facilitated the digital transformation of enterprise finance; at the same time, the value of data assets related to financial shared services has not been fully exploited, and the benefits of financial sharing are still limited to internal enterprises and have not been extended to other enterprises in the value chain. It is recommended that enterprises further improve their shared services and combine them with digital transformation based on data, process, and business specifications, and implement them more deeply in all dimensions of the value chain in the future to achieve value creation.

Liquor Enterprise’s Exploration of Industry-Financial Integration based on Financial Shared Service Center

In recent years, China's liquor industry has developed rapidly, but the internal financial management model of enterprises has rarely been improved. The relatively backward management model must not keep up with the needs of enterprise financial scale expansion. Based on this current situation, this article takes the perspective of the industry finance that China is advancing. Taking integration as the focus and liquor enterprises as the target, this paper discusses the development possibilities of the financial management model of Chinese liquor enterprises.

Problems and Countermeasures of Enterprise Financial Sharing in the Context of Big Data

Abstract In this paper, a dynamic evaluation model of the functional requirements of enterprise finance centers is first established. Then a technology and business evolution monitoring model is constructed based on the Markov chain. According to the model of the technology-business evolution chain, the functional demand dynamic evaluation indexes are summarized, and the indexes are reduced by a rough set algorithm to improve the functional demand dynamic evaluation effect. Establish the functional demand dynamic evaluation method. A new decision tree algorithm is used to confirm the branches of the evaluation so as to decompose the evaluation system, realize the grounding of indicators, and provide auxiliary information for the enterprise’s financial sharing function optimization decision. Since the establishment of the financial shared service center of Enterprise S in 2014, its sustainable growth rate has decreased by 18.89% from 2014 to 2016. However, from the beginning of 2017 to 2019, the rise is as high as 20%. Thus, the establishment of the financial shared service center has improved the sustainable growth of the enterprise.

Practice and Improvement of Su Ning’s Financial Shared Service Center under the Background of Informatization

In the face of the unpredictable market environment, large enterprises continue to expand to maintain their competitive advantage. While the scale and profit of enterprises increase, problems such as management costs and financial risks appear. As an efficient new operation mode, financial shared service center can effectively solve the problems of low financial efficiency and difficult supervision of large enterprises. However, there are few examples of building financial shared service centers in Chinese enterprises, and many shortcomings are also exposed in the daily operation process. Taking Su Ning as an example, this paper deeply analyzes the construction, operation and achievements of its financial shared service center, and puts forward optimization and upgrading measures for the problems.

Research on the Development of Financial Shared Service Center System—Based on Qingdao Haier Group

Research on the Development of Financial Shared Service Center System—Based on Qingdao Haier Group

Game of Advantages and Disadvantages of Intelligent Financial Shared Information Center Service on Enterprise Financial Management

This article studies the pros and cons of the intelligent financial sharing information center for corporate financial management, which can efficiently improve corporate financial management. First of all, the enterprise has a wide range of points, a large number of independent accounting projects, and a large flow of funds. This article focuses on the financial sharing model for corporate financial management. The promotion of the aspect was discussed, and then, after continuous development and improvement, the financial shared service was gradually modelized, combined with the corporate industry background, and formed a relatively advanced modern corporate financial management model-the financial shared service center. The results show that the rise of financial shared service centers in my country has become an inevitable trend. For Chinese enterprises, it is necessary to construct and implement financial shared service centers reasonably and effectively.

Application and Problem Research of Financial Sharing Service Center—Take Haier Group as an Example

With the rapid development of economy and the progress of science and technology, big data, cloud computing, blockchain and other technologies have gone deep into various fields, among which the financial sharing service center is a new model emerging in recent years, and has been developed rapidly. For enterprises, the generation and application of financial sharing service centers are conducive to improving efficiency, reducing operating costs, improving market competitiveness and expanding market share. Therefore, taking Haier Group as an example, this paper is of great significance to analyze the application of the current financial sharing service center and the problems facing, and put forward effective suggestions for the construction of financial sharing service center for enterprises.

Exploration on the Reform of Accounting Practice Curriculum in Higher Vocational Education under the Background of Financial Shared Service Center

Exploration on the Reform of Accounting Practice Curriculum in Higher Vocational Education under the Background of Financial Shared Service Center

Optimization of Financial Shared Service Center from the Perspective of Low Carbon Economy

Optimization of Financial Shared Service Center from the Perspective of Low Carbon Economy

Optimization of Financial Shared Service Center from the Perspective of Low Carbon Economy

Optimization of Financial Shared Service Center from the Perspective of Low Carbon Economy

Performance management algorithm of financial shared service center based on Internet of Things public cloud privacy protection.

The Internet of Things (IoT) refers to the use of various communication technologies to achieve the interconnection of everything in cyberspace, and to achieve smart home and intelligent transportation, thus generating unprecedented amounts of data. In the financial sharing center, all businesses can extract effective data from these massive databases for analysis, and use data analysis tools to collect business, financial, human, process, knowledge and social data. At present, various types of IT (Internet Technology) systems have been widely used in financial sharing centers. However, a large number of sensitive data have also been generated. In order to protect these sensitive data, there is a high requirement for the personal information of IT system operation and financial sharing center personnel. In order to protect user data privacy, the optimal and most effective use of IT systems is an important issue that must be considered in privacy management. At present, there are many algorithms to protect data and privacy, but the effect is not ideal. Considering the balance between privacy issues, this paper proposed a K-means clustering algorithm based on IoT public cloud privacy protection technology to analyze the performance management of financial sharing center. The research results showed that before the improvement, the average number of employees who were dissatisfied with the post training ability and information platform construction ability of the financial sharing center was 57.9 and 57.8% respectively, more than half of them. After the improvement of IoT based public cloud privacy protection, the average number of employees dissatisfied with the post training ability and information platform construction ability of the financial sharing center was 5 and 3.9%, far less than the data prior to the improvement. It showed that IoT public cloud privacy protection was conducive to the performance management of the financial sharing center, and the relationship between the two was positive.

Research and Application of Business Law Information Management System Based on Big Data

China’s manufacturing industry has set off a wave of digital transformation innovation, and the commercial law information management system, as one of the important tools to enhance the intelligent management ability of enterprises, will also face a new round of reform and upgrade. Building an “intelligent commercial law information management system platform” is the primary transformation path for traditional manufacturing enterprises to realize intelligent upgrading of commercial law information management system. The “intelligent commercial law information management system platform” is a management information sharing service platform that enables enterprises to achieve the goal of collaborative management by integrating their own business models and product technology needs with the help of emerging digital technologies, which can help enterprises realize the organic integration of business processes, risk management, value creation, and other management needs and change the original. The platform can help enterprises realize the organic integration of business processes, risk management, value creation, and other management needs and change the focus of the traditional financial shared service center, so that the enterprise business law information management system can be shifted to the enterprise strategy-oriented, focusing on risk control, decision support, and other high-level management. Therefore, it is particularly important to evaluate and optimize the “intelligent business law information management system platform” of manufacturing enterprises in the process of digital transformation. In this context, this paper conducts research and application of commercial law information management system based on big data, conducts an in-depth study on the current status of commercial law information management system in China, and provides an outlook on commercial law information management in China by establishing a relevant model system.

A Discussion on the Establishment of Financial Shared Service Center for Medical Groups

Financial transformation has become a trend, and under the influence of medical reform policies, such as the zero-price difference in pharmaceutical consumables and medical insurance payment by disease, the cost pressure on the medical industry is exceptionally high. The primary focus of this paper is on how to integrate resources and obtain cost advantages through financial shared service center, so as to increase the competitiveness of regional medical groups.

Optimization of University Financial Services Using the Blockchain Technology

At present, the financial work of most colleges and universities is facing the dilemma of low intelligence level. The financial sharing mode of colleges and universities using blockchain technology can effectively supervise their financial management while solving the problems of high costs related to financial sharing services, hidden dangers of data security, and low efficiency. Therefore, this paper makes an in-depth study on the application of blockchain technology and the financial sharing service mode of colleges and universities. Firstly, the University Financial Sharing Service Center platform based on blockchain technology is constructed. Furthermore, each module of the service center platform is described. Combined with the constructed platform, university finance is deeply mined by using the mining algorithm based on certain association rules, which is convenient for effective management. Finally, an artificial intelligence algorithm is used to adaptively optimize financial management. Similarly, the planning model and fitting algorithm of the least square method are used to control the risk of the financial management so as to realize the optimization of the financial sharing service mode. The experiment results demonstrate that the proposed method can effectively improve the efficiency of the financial sharing service and reduce the potential safety problems and costs of financial management.

Research on Travel Reimbursement Behavior Management Based on Deep Learning in Financial Sharing Mode

The standardization, transformation and upgrading of financial management plays an important supporting role in promoting the standardized management and healthy operation of corporate expense reimbursement behaviors. This paper starts with the behavioral portrait of enterprise personnel travel expense reimbursement. Based on the problems of lengthy process and complex financial accounting in most reimbursement behaviors at this stage, an efficient and efficient expense reimbursement processing method is proposed, that is, reimbursement through collection Information images, using the convolutional neural network algorithm under deep learning, to detect target images and identify valid information, and rely on the financial shared service center's screening function of expense reimbursement behavior portraits under big data, the integrity of expense reimbursement data. Compliance is judged, thus forming a complete set of standardized and procedural personal self-service reimbursement model, which optimizes the management of enterprise expense reimbursement behavior, avoids subsequent losses and resource waste caused by human risks, and improves enterprise operation efficiency and expenses. Control has certain value and reference significance.

The Construction of Haier Financial Shared Service Center under the " Integrating Order with Personnel " Model

Founded in Qingdao, Shandong in 1984, Haier Group has grown from a small refrigerator manufacturer to the world's No. 1 white goods brand. In 2005, the concept of " Integrating Order with Personnel " was put forward, and in 2006, under the guidance of this concept, it became one of the first enterprises to establish a financial shared service center in China. This paper mainly analyzes the structure of Haier Financial shared service center from three aspects: the background, development and effect of its construction, so as to deepen the understanding of the financial shared service center.

Enterprise Financial Data Sharing Based on Information Fusion Cloud Computing Environment

At present, many companies have many problems such as high financial costs, low financial management capabilities, and redundant frameworks; at the same time, the SASAC requires that the enterprise’s financial strategy transfer from “profit-driven” to “value-driven”, finance separate from accounting to improve the operational efficiency of the company. Under this background, more and more enterprise respond to the call of the SASAC; in order to achieve the goals of corporate financial cost savings and financial management efficiency improved, we began to provide services through financial sharing. The research of information fusion theory involves many basic theories, which can be roughly divided into two large categories from the algorithmic point of view: probabilistic statistical method and artificial intelligence method. The main task of artificial intelligence is to realize the computer for some learning, thinking process, and wisdom formation of simulation, and an important goal of information integration is the human brain comprehensive processing ability simulation, so artificial intelligence method will have broad application prospects in the field of information fusion; the common methods have D-S evidence reasoning, fuzzy theory, neural network, genetic algorithm, rough set, and other information fusion methods. The purpose of this paper is to proceed from the internal financial situation of the enterprise, analyze data security issues in the operation of financial shared services, and find a breakthrough in solving problems. But, with constantly expanding of enterprise group financial sharing service scale, the urgent problem to be solved is how to ensure the financial sharing services provided by enterprises in the cloud computing environment. This paper combines financial sharing service theory and information security theory and provides reference for building financial sharing information security for similar enterprises. For some enterprise that have not established a financial shared service center yet, they can learn from the establishment of the financial sharing information security system in this paper and provide a reference for enterprise to avoid the same types of risks and problems. For enterprise that has established and has begun to practice a financial shared information security system, appropriate risk aversion measures combined with actual situation of the enterprise with four dimensions related to information security system optimization was formulated and described in this paper. In summary, in the background of cloud computing, financial sharing services have highly simplified operational applications, and data storage capabilities and computational analysis capabilities have been improved greatly. Not only can it improve the quality of accounting information but also provide technical support for the financial sharing service center of the enterprise group, perform financial functions better, and enhance decision support and strategic driving force, with dual practical significance and theoretical significance.