How to Innovate Radically? On the Temporal Evolution, Path Exploration and Practical Choices of Financial Transformation

This paper probes deeply into the necessity, evolutionary process and implementation path of enterprise financial transformation. With the development of the new generation of information technologies such as big data, intelligent technologies, mobile internet, cloud computing, the Internet of Things and blockchain, the traditional accounting processes and organizational structures are undergoing profound changes. The study points out that financial transformation is not only an adaptation to information technologies, but also a strategic measure for enterprises to realize the organic unity of growth, profitability and risk management. The study divides financial transformation into four stages, namely informatization, intellectualization, collaboration and valorization. Furthermore, it proposes a financial transformation path from a strategic perspective, which includes three levels: financial strategic management, financial organizational management and financial operation management. Finally, the paper innovatively puts forward the RESEARCH framework to drive CFOs to carry out effective financial transformation, covering eight aspects: Strategic Integration, Exemplary Leadership, Agile Organizational Design, Responsive Risk Framework, Ensuring Talent Supply, Real-time Business Synchronization, Highly Accountable for Results and Continuous Improvement Drive.