Dr. Aman Singh, a researcher at the Universidad Internacional Iberoamericana (International Iberoamerican University) (UNIB), together with other researchers, conducts an analysis on the importance of implementing digitalization in corporate finance.
Financial management is a critical factor in companies, encompassing strategic planning, management, and control of financial efforts. The financial field is undergoing a resounding change as a result of new technologies. As proof of this, the financial services industry has been completely transformed by financial technology.
Therefore, the aim of the study was to discuss the role of Industry 4.0 technologies in a company's financial environment. Nowadays, there are several essential areas where technology intervention is needed, such as risk assessment, fraud detection, asset management, online transactions, customer retention, virtual assistance, etc.
It also addressed the different uses of the implementation of digital technologies in the financial field, such as real-time financial analysis, risk assessment, anti-fraud system, and risk management, among others.
Study recommendations
As a result of the analysis, the integration of digital technologies in the financial area is recommended for improving the quality and accessibility of the service. Some of the recommended technologies have been big data and artificial intelligence technology for an automated personal assistant that can analyze financial markets and make smart financial decisions; Iot and blockchain with smart contracts to secure financial documents, etc.
It is also essential to create innovative rules that enable healthy competition among market participants.
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Lastly, the Universidad Internacional Iberoamericana (UNIB) offers the Master in Strategic Management with a Specialty in Information Technology. This program is designed for those who wish to acquire the necessary knowledge, skills, and abilities to lead an organizational change project using ICT or to advise companies that need to innovate as a response to the competitiveness of new businesses.
UNIB congratulates the researcher and other participants for their commitment to business innovation and using their knowledge and skills to propose solutions to improve the field of financial services. This way, companies can join the competitiveness of today's market.