Research On The Reasons,Paths And Consequences Of The Digital Transformation Of Corporate Finance ——Based On The Case Analysis Of FAW Group

The wave of digitalization has profoundly affected the business management environment of traditional industries.Under this background,implementing digital transformation strategies is an important change option for most companies.In the wave of digitalization,how to transform the financial department to enhance its adaptability and value creation ability in the digital age is an important frontier topic in the current financial management field.In the context of digitalization,the driving factors for enterprises to implement financial digital transformation,the path to implement financial digital transformation,and the results of financial digital transformation all affect the management practice of enterprise financial digital transformation.Case studies can answer the how and why questions,and are conducive to studying the relevant mechanisms of the drivers,paths and consequences in the digital transformation of corporate finance.As an automobile production group with a leading market share,FAW Group has clearly implemented financial digital transformation as a strategy in 2018.Its financial digital transformation has achieved remarkable results and is typical of case studies;at the same time,it has experienced two stages of financial digital transformation,thus its transformation process is both extreme and special.The practice of FAW Group’s financial digital transformation can provide a case sample for the motivation,path and consequences of the enterprise’s financial digital transformation,and answer questions such as the motivation,path and consequences of the enterprise’s implementation of financial digital transformation.Based on this,this paper is based on the practice of FAW Group’s financial digital transformation,using the case study method,based on the organization-environment matching theory,organizational change theory and organizational learning theory in the transformation theory,to analyze the driving factors,implementation path,and the consequences of its financial digital transformation from the perspective of organizational efficiency and financial performance.By sorting out FAW Group’s financial digital transformation process,this paper finds that:in terms of transformation motivation,the dynamic nature of the environment is an important external motivation for FAW Group to continuingly implement financial digital transformation,while business motivation and management motivation are important internal motivations for enterprises to implement financial digital transformation.In the implementation path,the digital transformation of enterprise finance is divided into two stages:the construction of a shared financial center and the construction of financial intelligence.In the process of transformation,FAW Group has an obvious process of organizational learning.On the one hand,it relies on the cooperation of external digital industries to carry out utilization learning and promote the construction of digital capabilities and technical support.On the other hand,when the group is building up its own processes and systems,it carried out exploratory learning,thus creating a digital implementation plan suitable for themselves,and it carried out exploratory organizational learning through measures such as system reform and talent management.In terms of consequences,the group has improved its organizational performance and financial performance.The organizational performance is reflected in the improvement of financial personnel’s efficiency,financial value,and service quality.In terms of financial performance,it is reflected in the shortening of the group’s operating cycle,the increase in R＆D output,and the enhancement of cost management and control capabilities.The possible innovation points of the paper are:（1）Combined with the background of the company’s overall digital transformation strategy,the analysis makes the setting of strategies and goals related to financial digital transformation more realistic,and emphasize to realize financial digitalization from the perspective of strategic synergy.（2）Summarizes the path of financial digital transformation from the system,process,system and organizational level of the enterprise,and discusses the transformation strategies in different stages of digital transformation from the continuous digital transformation process of the group.（3）Starting from the financial digital transformation of typical cases,it provides a strong practical reference for why and how to implement financial digital transformation in practice.