The Role of Technological Innovation in the Transformation of Accounting and Financial Processes

Miglena Trencheva

pages: 21 – 26

Abstract:

Technological innovation and digitization are partners that are dramatically changing accounting and financial processes in modern enterprises. This report explores the key role that modern technology is playing in the transformation of accounting and how it is creating new opportunities and challenges for the financial sector. The transition from traditional, manual accounting methods to the use of software solutions and cloud platforms does not sound like science fiction, as it did at the beginning of the last century, but a real trend. The benefits of this transition include greater efficiency, accuracy and increased ability to analyse financial data. 

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