Data Governance and Financial Control Systems in Digital Enterprises

Digital businesses are becoming more and more dependent on interconnected systems to create, process and analyze financial information, which allows them to gain real-time information but presents a set of challenges regarding data quality, governance and control. This chapter discusses the combination of data governance structures and financial control systems to control financial information flows. An abstract model is offered which connects the governance structure, data flow processes and control mechanisms to guarantee accuracy, transparency and regulatory compliance. Using the new ERP and cloud-based finance cases evidence, the chapter shows how integrated systems enhance the reliability of reporting, efficiency of operations and risk management. The results emphasize that integrated governance and control processes are needed to convert financial information into credible, practical knowledge to drive strategic decisions and sustainable business performance.

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