PRACTICAL VALUE, CHALLENGES AND OPTIMIZATION PATH OF FINANCIAL SHARING CENTER IN THE CONTEXT OF FINANCIAL DIGITAL TRANSFORMATION

The author, through comprehensive research on the digital transformation practices of financial shared service centers (FSSC) in the digital economy, their challenges, and optimization measures, found that FSSC can help achieve financial efficiency improvements, cost reduction through financial effectiveness, data management empowerment, and support for corporate strategic decision-making. However, it also faces difficulties such as the lack of technical interfaces with existing systems, the inability to establish new institutional models, and mastering key capabilities in shared center data management while avoiding data security risks. By analyzing relevant literature and practical issues in enterprises, the author proposes optimization strategies for the transition of FSSC to cloud platforms, providing direction for the digitalization of enterprise financial management.

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Publication Details

Journal
World journal of economics and business research.
Published
2025-04-24
DOI
https://doi.org/10.61784/wjebr3041
Primary Topic
Economic Development and Digital Transformation
Type
article
Field-Weighted Citation Impact
0.00
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article

PRACTICAL VALUE, CHALLENGES AND OPTIMIZATION PATH OF FINANCIAL SHARING CENTER IN THE CONTEXT OF FINANCIAL DIGITAL TRANSFORMATION

World journal of economics and business research.
Economic Development and Digital Transformation
article

PRACTICAL VALUE, CHALLENGES AND OPTIMIZATION PATH OF FINANCIAL SHARING CENTER IN THE CONTEXT OF FINANCIAL DIGITAL TRANSFORMATION

article en

Abstract

The author, through comprehensive research on the digital transformation practices of financial shared service centers (FSSC) in the digital economy, their challenges, and optimization measures, found that FSSC can help achieve financial efficiency improvements, cost reduction through financial effectiveness, data management empowerment, and support for corporate strategic decision-making. However, it also faces difficulties such as the lack of technical interfaces with existing systems, the inability to establish new institutional models, and mastering key capabilities in shared center data management while avoiding data security risks. By analyzing relevant literature and practical issues in enterprises, the author proposes optimization strategies for the transition of FSSC to cloud platforms, providing direction for the digitalization of enterprise financial management.

World journal of economics and business research.Vol. 3(2)
China Railway Construction Corporation (China) (CN)
Openalex Percentile: Top 87%
Economic Development and Digital Transformation
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