Developing a Model for Optimizing the Financial Reporting Process Using Emerging Technologies

Abstract

This study aimed to develop a comprehensive and context-specific model for optimizing the financial reporting process through emerging technologies based on expert perspectives. This qualitative study employed the systematic grounded theory approach of Strauss and Corbin. The participants comprised 22 experts and professionals in finance, accounting, auditing, information technology, and information systems, selected through purposive and theoretical sampling until theoretical saturation was achieved. Data were collected through in-depth semi-structured interviews and analyzed using MAXQDA 2020 through open, axial, and selective coding. Coding reliability was assessed through intra-coder retesting and secondary coding, while the credibility and rigor of the findings were enhanced using Lincoln and Guba’s criteria of credibility, transferability, dependability, and confirmability. The analysis identified “structural-process optimization of the financial reporting system through the synergistic integration of emerging technologies” as the core phenomenon. Inefficiencies in traditional processes, the need to improve information quality, cost and competitive pressures, and environmental and regulatory requirements emerged as the principal causal conditions. Artificial intelligence, blockchain, big data, cloud computing, and the Internet of Things were identified as the key technological enablers whose effectiveness depends on technological infrastructure, managerial support, regulatory frameworks, organizational culture, and human capital. Financial constraints, organizational resistance, cybersecurity challenges, external restrictions, and the absence of implementation standards were identified as intervening conditions. Strategic digital transformation planning, human-resource empowerment, infrastructure development, change management, phased implementation, collaboration with technology providers, and systems integration were found to facilitate implementation. The model indicated that these strategies can enhance reporting quality and timeliness, increase transparency, reduce costs and financial irregularities, strengthen analytical decision-making, improve stakeholder trust, and enhance organizational competitiveness. Optimizing financial reporting through emerging technologies extends beyond the digitization of existing activities and requires the coordinated redesign of information architecture, organizational processes, structures, and human capabilities; therefore, the synergistic deployment of emerging technologies within an enabling organizational environment can establish an intelligent, integrated, transparent, and decision-oriented financial reporting system.