Evaluate the impacts of a centralized system in financial processes in AIT | |
| Author | Vu Kim Thoa |
| Call Number | AIT Proj. no.PM-BADT-24-04 |
| Subject(s) | Finance--Data processing--Case studies Finance--Technological innovations--Case studies |
| Note | A project report submitted in partial fulfillment of the requirements for the Degree of Professional Master in Business Analytics and Digital Transformation |
| Publisher | Asian Institute of Technology |
| Abstract | This thesis explores the evaluation of impacts of the implementation of a centralized financial management system to improve operational efficiency in AIT finance processes. The research focuses on key areas such as evaluation of current resources and process, the impacts of the system in operation, system performance, automation, change management and governance, the operation of the system. The current fragmented financial software landscape, involving multiple systems and manual data entries, creates challenges in efficiency, task duplication, tracking, and data consistency. The study evaluates the impact of the application of the centralized system in financial processes. The new system streamlines financial processes by automating tasks such as daily report exports, budget reconciliation, and approval workflows. Additionally, the platform minimizes manual errors by reducing the need for paper-based processes and manual data input, ensuring a more reliable and seamless data flow between departments. Significant achievements include task duplication removal and time spent on finance-related activities, as well as enhanced real-time access to financial data for better decision-making. The system also improves transparency through automated tracking of approval processes and financial transactions. Cost-saving measures can be realized through the consolidation of software licenses and a reduction in human resource expenses. This study demonstrates that implementing a centralized system not only increases efficiency and data accuracy but also provides a scalable solution for future expansion. The findings suggest that the system could be applied to other departments and offer further enhancements to organizational productivity. |
| Year | 2024 |
| Type | Project |
| School | School of Management |
| Department | Other Field of Studies (No Department) |
| Academic Program/FoS | Professional Master in Business Analytics and Digital Transformation (PMBADT) |
| Chairperson(s) | Fischer, Fabrice; |
| Examination Committee(s) | Boutet, Carl;Galipeau, David; |
| Scholarship Donor(s) | AIT Scholarship; |