Impact of Digital Transformation on Financial Management of Small and Medium Enterprises
Year: 2025
Type: article
Abstract: This paper investigates the impact of digital transformation on managing finances in small and medium-sized enterprises (SMEs). The aim of the research is to examine how innovative technologies enabled by digital transformation can improve the efficiency and transparency of financial management. By analyzing literature sources key tools and technologies that SMEs can utilize have been identified. Particular focus is placed on artificial intelligence, machine learning, big data analytics, and automated reporting, which enable more accurate decision-making, cost reduction, and optimization of financial flows. The findings show that digital transformation can significantly improve the financial performance of companies, increase profitability, and reduce operational costs. The conclusion points out the importance of investing in digital technologies and continuous employee education to fully realize the benefits of digital transformation for SMEs. Further research is recommended to include larger samples and different industrial sectors to further validate these findings and explore the long-term effects of digital transformation on financial management.
DOI: 10.55817/rvew4219
Authors: Vitomir Tafra, Jelena Vapa Tankosić
Language: English
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4408085710