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The Application of Cloud Computing in Financial Shared Services: Implementation Strategies and Benefit Assessment

By: Ying Wang 1
1Finance and Economics Department, Xuchang Vocational Technical College, Xuchang, Henan, 461000, China

Abstract

Problems such as dispersed financial data, low processing efficiency, and prominent security risks are becoming more and more prominent, and enterprises urgently need to build a unified and efficient financial management system. This study constructs a financial shared service system based on cloud computing technology, adopts a security architecture combining blockchain and threshold proxy re-encryption, and designs three core modules, namely, a financial sharing basic support platform, a financial sharing center platform, and a fund management platform. The study realizes data security sharing through the TDPR-BC scheme, and applies principal component analysis to comprehensively evaluate the economic benefits of enterprises. The results show that in terms of encryption performance, this paper’s method exhibits better time efficiency compared with the dynamic change of user rights algorithm and the Bloom Filter algorithm; in the security test, when the amount of financial data reaches 20,000 items, this paper’s method has only 9 data cracked while the other two methods have 81 and 96 data cracked, respectively; in the evaluation of the enterprise’s benefits, an industry in the 2021 after applying cloud computing financial shared service the comprehensive score reaches 2.35, ranked first, compared with 0.56 in 2020 there is a significant improvement. The study shows that cloud computing technology can effectively improve the security and processing efficiency of financial shared services, create significant economic value for enterprises, promote the digital transformation of financial management, and provide important technical support for the construction of a modern financial management system.