Enterprise Data Product: A Digital Transformation Strategy for Developing Next-Generation Financial Solutions

Karthik Hosavaranchi Puttaraju

Abstract: In the rapidly evolving landscape of finance and accounting landscape, digital transformation has emerged as a pivotal force driving innovation and strategic growth. This paper explores the profound impact of data products on the finance and accounting industry, highlighting their role in enhancing operational efficiency, improving decision-making, and fostering customer engagement. By examining specific data products such as Trial Balance Post-Close Adjustments, Fixed Assets-Foreign Entities Discovery, Sales - EDM Availability Discovery, and Customer Contract OTP Model & View Creation, this study illustrates how these tools facilitate seamless data integration and provide actionable insights. The paper demonstrates the tangible benefits of leveraging data products through case studies and real-world applications, including increased revenue, reduced costs, and enhanced compliance. Additionally, it addresses the challenges associated with implementing these solutions and discusses future trends that will shape the finance sector. Ultimately, this research underscores the strategic importance of data products in driving digital transformation and achieving business success in the financial and accounting industry.

Keywords: Digital Transformation, Data Products, Finance and Accounting, Operational Efficiency, Artificial Intelligence (AI), Product Innovation. Process efficiency