Transforming Financial Management With Cloud Computing

Abstract

This chapter focuses on examining how cloud computing can enhance financial management. It aims to make organisations aware of the possibilities of cloud-based solutions for improving financial tasks and help them avoid mistakes when implementing those technologies. The steps entail a systematic literature review that uses guidelines such as preferred reporting items for systematic reviews and meta-analyses (PRISMA). In order to identify an appropriate sample of articles that would answer the research issue, the authors followed the principles of inclusion and exclusion. They compared the abstracts and full texts of the sources in question before considering thirty-seven (37) articles in greater detail. The study also reveals that cloud computing provides a great potential for achieving financial benefits, which include cost reduction, better control and visibility for financial data, improved security and compliance and, last but not least, enabling organisational financial innovation.