Research on the drivers and performance of digital transformation of enterprise finance

Xinlong Ma

doi:10.62051/nhza3072

Authors

Xinlong Ma

DOI:

https://doi.org/10.62051/nhza3072

Keywords:

Financial digital transformation; Digitization.

Abstract

As the leader in the domestic engine industry, Weichai Power has carried out a financial integration project since 2012. Its core objective is to explore financial digital construction, achieve financial transformation, and support business development. By combing through the financial digital transformation process of Weichai Group, it is found that: in terms of transformation motivation, environmental dynamics is an important external motivation for Weichai Group to continuously implement financial digital transformation, and business motivation and management perspective are important internal motivations for enterprises to implement financial digital transformation. In terms of implementation path, enterprise financial digital transformation is divided into three stages: accounting construction, financial transformation construction, and decision support construction. In terms of transformation consequences, the group has improved organizational performance and financial performance. The organizational performance is manifested as improved financial efficiency, increased financial value, and enhanced service quality. The financial performance is reflected in the shortened business cycle, increased R & D output, and enhanced cost control ability of the group.

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