Impact Of Data Governance On Financial Digital Transformation

With the rapid development of information technology,data is also developing and becoming more and more important.Our country regards data as an important factor of production and vigorously promotes the digital transformation of state-owned enterprises.In2020,SASAC mentioned the promotion of intelligent production and operation in the notice on accelerating the digital transformation of state-owned enterprises.The Fourteenth Five-Year Plan points out that "accelerate digital development and build a digital China".In 2021,the Ministry of Finance proposed to promote the expansion and upgrading of accounting intelligence and accelerate the transformation of accounting digitization.Its development plan includes the basic establishment of accounting data standard system.In addition,the Ministry of industry and information technology and other departments also pointed out that most manufacturing enterprises above Designated Size will realize digitization and networking in2025.However,at present,only a few enterprises in our country have achieved remarkable transformation results,most of which are Internet companies,which themselves directly correspond to digitization.In the future,many state-owned enterprises in traditional industries will establish a new development pattern through digitization.How to implement digitization,especially financial digital transformation,is unknown,and few enterprises have achieved results.Therefore,it is of great significance for enterprises to strengthen data governance and promote digital transformation.Using the methods of literature research and case study,taking the multidimensional lean management reform of SG Company as the research opportunity,this paper brings referential experience for the digital transformation of other enterprises in China,and speeds up the process of enterprise data governance and financial digital transformation in China.Firstly,this paper reviews the research results of digital financial governance at home and abroad.Secondly,it explains the concept and theoretical basis of the case study.Thirdly,it analyzes the internal and external motivation of multidimensional lean management reform of SG Company.Then,it analyzes how the multidimensional lean management reform plays the role of data governance,and analyzes the data governance process and effectiveness,as well as the middle office strategy launched.Finally,it summarizes the impact of enterprise data governance on financial digital transformation.After the above analysis,this paper believes that: first,the multidimensional lean management reform of SG Company takes "value" as the common recognition object,and constructs a multidimensional cost management system characterized by "simplified accounting subjects + clear management dimensions + unified data standards + standardized data carriers",which promotes the data standardization and integration of various business systems and plays the role of data governance.Second,through data governance,SG Company has built an internal "online sharing center",which realizes the management effect that can only be achieved by physical concentration of personnel under the traditional sharing modes such as management norms and standards,financial processing standards,data information transparency and timely risk prevention and control.It effectively liberates financial personnel and promotes the management of budget,cost Integration of performance and other management accounting tools.After that,the financial center was formed,which made the business operation and financial service intelligent,and promoted the digital transformation of the company’s finance.The innovation and research significance of this paper is that it is found that data governance is the basis of promoting financial digital transformation,which can provide some reference and reference for data governance and financial digital transformation of relevant enterprises,and enrich the relevant research on data governance and financial digital transformation of state-owned enterprises.