Research on the Financial Management Transformation of Chinese Enterprises in the Era of Digital Economy

• Published in: SHS Web of Conferences Vol. 165; p. 2015
• Main Author: Wang, Derong
• Format: Journal Article Conference Proceeding
• Language: English
• Published: Les Ulis EDP Sciences 2023
• Subjects: Digital economy; Financial management; Social change
• ISSN: 2261-2424; 2416-5182; 2261-2424
• DOI: 10.1051/shsconf/202316502015

Since the modern world has entered into the era of the digital economy, both government departments and enterprises in the general background of the popularization of information technology must figure out how to change the management mode in order to adapt to the new social and economic environments. This will make it easier for agencies to serve the public while also giving businesses an advantage over rivals. Sound financial management is one of the most effective means to encourage an enterprise’s continued development. Financial management that supports social development can further boost an organization’s competitiveness and efficiency, putting it above other organizations of a similar nature in the social development marketplace. Now there are still some enterprises that do not understand the significance of enterprise financial management transformation and do not realize that financial management in the digital economy era must be transformed from the traditional management mode to adapt to the transformation of the digital economy era. This paper first provides a brief explanation of the fundamental concept behind the digital economy, then examines the significance of financial transformation, follows by a third analysis of the issues with conventional financial management problems, and offers several practical approaches to enterprise financial transformation.