Digital Transformation in Finance: the Role of Accounting Technology

EasyChair Preprint 12112

Abstract

In the fast-paced world of finance, the integration of digital technologies has become imperative for businesses to stay competitive and relevant. This paper explores the profound impact of digital transformation on finance, with a specific focus on the role of accounting technology. Through a comprehensive review of existing literature and case studies, the paper examines how advancements in accounting technology have revolutionized traditional financial processes. The digital transformation of finance has led to significant improvements in efficiency, accuracy, and decision-making. Automation tools, such as artificial intelligence and machine learning algorithms, have enabled finance professionals to streamline routine tasks, such as data entry, reconciliation, and reporting. Moreover, cloud-based accounting platforms have facilitated real-time collaboration and access to financial data, enhancing agility and responsiveness to changing market conditions. The paper concludes by emphasizing the transformative impact of accounting technology on finance and the need for organizations to embrace innovation to thrive in the digital age. By leveraging cutting-edge tools and strategies, businesses can enhance their competitiveness, drive growth, and achieve sustainable success in today's dynamic financial landscape.

Keyphrases: Accounting Technology, Digital Transformation, Finance

@booklet{EasyChair:12112,
  author    = {Jane Elsa and Hakan Halil},
  title     = {Digital Transformation in Finance: the Role of Accounting Technology},
  howpublished = {EasyChair Preprint 12112},
  year      = {EasyChair, 2024}}