Imperative Role of Integrating Digitalization in the Firms Finance: A Technological Perspective

• DOI: 10.3390/electronics11193252
• Publication Date: 2022-10-10T07:07:28Z
• Authors: Deepa Bisht; Rajesh Singh; Anita Gehlot; Shaik Vaseem Akram; Aman Singh; Elisabeth Caro Mo...; Neeraj Priyadarshi; Bhekisipho Twala
• Keywords: 9. Industry and infrastructure; 0202 electrical engineering, electronic engineering, information engineering; 02 engineering and technology

Financial management is a critical aspect of firms, and entails the strategic planning, direction, control financial endeavors. Risk assessment, fraud detection, wealth management, online transactions, customized bond scheme, customer retention, virtual assistant so on, are few areas where Industry 4.0 technologies intervention highly required for managing firms' finance. It has been identified from previous studies that they limited have addressed significance application integrating such as Internet Things (IoT), cloud computing, big data, robotic process automation (RPA), artificial intelligence (AI), Blockchain, Digital twin, Metaverse. With motivation above aspects, this study aims to discuss role these in area firm. Based up on analysis, it concluded assist credit risk based real-time data; data analytics digital finance, auditing, AI- IoT- assistants. This recommended be deeply integrated into sector improve service quality accessibility, well creation innovative rules allow healthy competition among market participants.