Blockchain Application in Financial Shared Service Centers for Multinational Enterprises

Yuehe Tian

doi:10.54254/2754-1169/31/20231515

Research Article

Open access

Published on 10 November 2023

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Tian,Y. (2023). Blockchain Application in Financial Shared Service Centers for Multinational Enterprises. Advances in Economics, Management and Political Sciences,31,101-107.

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Blockchain Application in Financial Shared Service Centers for Multinational Enterprises

Yuehe Tian *^,1,

¹ Shandong Business and Technology University

* Author to whom correspondence should be addressed.

https://doi.org/10.54254/2754-1169/31/20231515

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.

Keywords

blockchain, FSSC in multinational enterprises, mode optimization

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References

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Cite this article

Tian,Y. (2023). Blockchain Application in Financial Shared Service Centers for Multinational Enterprises. Advances in Economics, Management and Political Sciences,31,101-107.

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About volume

Volume title: Proceedings of the 7th International Conference on Economic Management and Green Development

Conference website: https://www.icemgd.org/

ISBN：978-1-83558-083-7(Print) / 978-1-83558-084-4(Online)

Conference date: 6 August 2023

Editor：Canh Thien Dang

Series: Advances in Economics, Management and Political Sciences

Volume number: Vol.31

ISSN：2754-1169(Print) / 2754-1177(Online)

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