Current Volume 9
The Impact of Data-Driven Finance Transformation Platforms on Operational Efficiency and Cost Reduction in Large-Scale Enterprises: An Empirical Analysis
Abstract
The rapid development of digital technologies has dramatically changed the ways financial management is conducted in large enterprises, this paper, investigate the influence of data-driven finance transformation platforms on business process optimization and cost minimization through a questionnaire-based empirical approach. Finance professionals and managers of large-scale enterprises were the respondents of the study. According to the results, the use of technologies such as artificial intelligence (AI), robotic process automation (RPA), big data analytics, and cloud-based financial systems results in a great increase in operational efficiency through process time reduction, decreasing human error, and enhancing decision-making processes. Besides, the study partly is based on interviews and shows that these platforms lead to a very big cost reduction due to automation, better resource allocation, elimination of infrastructure expenses. The fact that high implementation costs, data security issues, and resistance to organizational change are among the challenges was a great deal of the discussion. The present study ends with a note that data-driven finance transformation platforms are indispensable tools for enterprise performance enhancement and long-term cost efficiency achievement. Also, organizations willing to adopt such systems in the most efficient manner are given some advice.
Keywords
Data-Driven Finance, Digital Transformation, Operational Efficiency, Cost Reduction, Enterprise Systems, Financial Technology, Questionnaire Survey
Citations
IRE Journals:
Justin Tobechukwu Kanife "The Impact of Data-Driven Finance Transformation Platforms on Operational Efficiency and Cost Reduction in Large-Scale Enterprises: An Empirical Analysis" Iconic Research And Engineering Journals Volume 5 Issue 9 2022 Page 808-814 https://doi.org/10.64388/IREV5I9-1717249
IEEE:
Justin Tobechukwu Kanife
"The Impact of Data-Driven Finance Transformation Platforms on Operational Efficiency and Cost Reduction in Large-Scale Enterprises: An Empirical Analysis" Iconic Research And Engineering Journals, 5(9) https://doi.org/10.64388/IREV5I9-1717249
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