Optimization Study of Daily Operations of Financial Shared Service Centers

As the business scope of enterprise groups becomes more and more extensive, many of them are involved in cross-border operations, so in order to better accommodate the expansion of scale, the financial sharing model has been applied by many large group enterprises. Through this model, the common business of each molecular company can be summarized and distilled, and processed centrally through a single financial shared service center, thus helping the total group to reduce financial costs, improve financial efficiency, and strengthen internal group control and risk management. However, various problems can arise in the course of the operation of the financial shared service model, with some enterprises experiencing a decrease in management efficiency instead of a decrease in costs. This means that enterprises should continue to optimise and improve the construction of financial shared service centers according to their actual situation, and propose corresponding measures to achieve cost reduction and efficiency gains. Based on the example of Baosteel's financial shared service center, this paper explains the general situation of Baosteel's financial shared service center from three levels: the organizational structure of Baosteel and the motivation, practice and effect of the financial shared service center.