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Study on the Impact of Financial Shared Services on the Transformation of Financial Professionals

Author(s)

Wang Jue, Du Juan*

Affiliation(s)

School of Business, Wuhan Huaxia Institute of Technology, Wuhan, Hubei, China *Corresponding Author.

Abstract

Financial Shared Services (FSS) has emerged as an integrated financial management model that is widely adopted across the globe. By consolidating and standardizing financial processes, FSS enhances the efficiency and transparency of corporate financial management. However, the implementation of FSS has also significantly impacted the roles, skill requirements, and career development paths of traditional financial professionals. This paper delves into the concept of FSS and its implementation process, exploring its multifaceted impact on the transformation of financial personnel. The study finds that FSS not only drives the transition of financial professionals from traditional transactional tasks to higher-level analytical and decision-support roles but also demands stronger cross-functional communication and IT application skills. Additionally, this paper discusses the challenges that financial professionals may face during this transition and proposes corresponding strategies to assist enterprises in promoting FSS and supporting the career development of financial personnel.

Keywords

Financial Shared Services; Financial Personnel Transformation; Role Change; Skill Requirements; Career Development

References

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