Author(s)

Cheng Tan ¹

Affiliation(s)

¹ Pricewaterhouse Coopers Management Consulting (Shanghai) Limited, Shanghai, 200126, China

Corresponding Author

Cheng Tan

ABSTRACT

The rapid globalization and digital transformation trends have driven continuous innovation in corporate financial management. Multinational Corporations require a unified, standardized, and efficient financial management model to manage the complexities of global operations and compliance. Global Business Services (GBS) has become an essential solution, integrating cross-functional support services to reduce costs, enhance flexibility, and improve operational efficiency. This paper explores the establishment and optimization of GBS in Multinational Corporations, analyzing its characteristics, advantages, challenges, and practical case studies. GBS not only reduces operational costs and improves efficiency but also supports strategic global expansion. Despite challenges like cultural differences, business complexity, and data security, GBS can be effectively implemented through digital technologies, change management, and balanced global-local strategies. Future GBS trends include multi-functional integration, digital transformation, customer-centric models, and data-driven decision support, further enhancing global competitiveness and long-term sustainable growth.

KEYWORDS

Global Business Services (Gbs); Financial Management; Multinational Corporations; Digital Transformation; Cost Reduction

CITE THIS PAPER

Cheng Tan, Upgrading of MNC (Multi-National Corporation)'s Financial Management: Establishment and Optimization of Global Business Services (GBS). Accounting, Auditing and Finance (2024) Vol. 5: 71-78. DOI: http://dx.doi.org/10.23977/accaf.2024.050310.

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