Digital Innovation on Finance, Accounting and Marketing
Digital Innovation on Finance, Accounting and Marketing

Author(s): Eliona Gremi, Mersida Morina, Ardian Durmishi
Subject(s): Economy, Financial Markets, Accounting - Business Administration, Marketing / Advertising, ICT Information and Communications Technologies
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: digital innovation; blockchain; artificial intelligence; big data; finance; accounting; marketing; technological transformation
Summary/Abstract: This paper examines the transformative impact of digital innovation on finance, accounting, and marketing, driven by the rapid advancement of technologies such as blockchain, artificial intelligence (AI), big data analytics, and cloud computing. The analysis demonstrates how these tools are redefining traditional practices, fostering cross-functional collaboration, and reshaping organizational strategies in an increasingly digitalized business environment. In finance, digital payment systems, robot-advisors, and decentralized finance (DeFi) platforms are revolutionizing traditional banking and investment services. Blockchain technology is enhancing security and transparency in transactions, while AI-driven tools are enabling real-time analytics and decision-making. In accounting, automation, AI-powered fraud detection systems, and cloud-based platforms are improving efficiency, reducing errors, and enabling real-time data access for strategic decision-making. Meanwhile, marketing has entered a new era of hyper-personalization. AI-driven predictive analytics, customer data platforms, and social media algorithms are empowering businesses to deliver targeted and impactful campaigns tailored to individual customer preferences. The paper identifies both opportunities and challenges associated with digital transformation. Key opportunities include cost savings, real-time data analysis, enhanced customer engagement, and improved decision-making capabilities. However, challenges such as cybersecurity risks, the shortage of skilled professionals, and complex regulatory requirements highlight the need for organizations to adopt strategic approaches to technology integration. By exploring adoption rates, implementation strategies, and cross-functional synergies, this study emphasizes the interconnected nature of finance, accounting, and marketing in the digital age. The findings offer actionable insights into emerging trends, best practices, and future directions, supporting organizations in navigating the complexities of digital innovation while unlocking its full potential for sustainable growth and competitive advantage.

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