Transforming accounting practices: The impact and challenges of business intelligence integration in invoice processing
Vol 8, Issue 6, 2024
VIEWS - 266 (Abstract) 181 (PDF)
Abstract
The purpose of this study is to investigate the relationship between the use of business intelligence applications in accounting, particularly in invoice handling, and the resultant disruption and technical challenges. Traditionally a manual process, accounting has fundamentally changed with the incorporation of BI technology that automates processes and allows for sophisticated data analysis. This study addresses the lack of understanding about the strategic implications and nuances of implementation. Data was collected from 467 accounting stakeholder surveys and analyzed quantitatively using correlational analysis. Multiple regression was utilized to investigate the effect of BI adoption, technical sophistication on operational and organizational performance enhancements. The results show a weak association between the use of BI tools and operational enhancements, indicating that the time for processing invoices has decreased. Challenges due to information privacy and bias were significant and negative on both operational and organizational performance. This study suggests that a successful implementation of a BI technology requires an integrated plan that focuses on strategic management, organizational learning, and sound policies This paper informs practitioners of how accounting is being transformed in the digital age, motivating accountants and policy makers to better understand accounting as it evolves with technology and for businesses to invest in concomitant advances.
Keywords
Full Text:
PDFReferences
Abdelhalim, A. M. (2023). How management accounting practices integrate with big data analytics and its impact on corporate sustainability. Journal of Financial Reporting and Accounting. https://doi.org/10.1108/jfra-01-2023-0053
Abulibdeh, A., Zaidan, E., & Abulibdeh, R. (2024). Navigating the confluence of artificial intelligence and education for sustainable development in the era of industry 4.0: Challenges, opportunities, and ethical dimensions. Journal of Cleaner Production, 437, 140527. https://doi.org/10.1016/j.jclepro.2023.140527
Abushammala, S. N., Abushawish, H. F., Jalambo, M. O., & Maghari, A. Y. (2022). Transforming into Smart Business: The Role of Artificial Intelligence. In: Proceedings of the Future of Organizations and Work After the 4th Industrial Revolution: The Role of Artificial Intelligence, Big Data, Automation, and Robotics.
Ali, H., & Morshed, A. (2024). Augmented reality integration in Jordanian fast-food apps: Enhancing brand identity and customer interaction amidst digital transformation. Journal of Infrastructure, Policy and Development, 8(5), 3856.
Allioui, H., & Mourdi, Y. (2023). Exploring the Full Potentials of IoT for Better Financial Growth and Stability: A Comprehensive Survey. Sensors, 23(19), 8015. https://doi.org/10.3390/s23198015
Aziz, L. A.-R., & Andriansyah, Y. (2023). The Role Artificial Intelligence in Modern Banking: An Exploration of AI-Driven Approaches for Enhanced Fraud Prevention, Risk Management, and Regulatory Compliance. Reviews of Contemporary Business Analytics, 6(1), 110–132.
Bhandari, A., Cherukuri, A. K., & Kamalov, F. (2023). Machine Learning and Blockchain Integration for Security Applications. In: Big Data Analytics and Intelligent Systems for Cyber Threat Intelligence. River Publishers.
bin Abdullah, M. R., & Iqbal, K. (2022). A Review of Intelligent Document Processing Applications Across Diverse Industries. Journal of Artificial Intelligence and Machine Learning in Management, 6(2), 29–42.
Cerchione, R., Centobelli, P., Riccio, E., et al. (2023). Blockchain’s coming to hospital to digitalize healthcare services: Designing a distributed electronic health record ecosystem. Technovation, 120, 102480. https://doi.org/10.1016/j.technovation.2022.102480
Faccia, A. (2023). National Payment Switches and the Power of Cognitive Computing against Fintech Fraud. Big Data and Cognitive Computing, 7(2), 76. https://doi.org/10.3390/bdcc7020076
Fan, Z., Yan, Z., & Wen, S. (2023). Deep Learning and Artificial Intelligence in Sustainability: A Review of SDGs, Renewable Energy, and Environmental Health. Sustainability, 15(18), 13493. https://doi.org/10.3390/su151813493
Kumar, S., & Aithal, P. S. (2023). Tech-Business Analytics in Secondary Industry Sector. International Journal of Applied Engineering and Management Letters (IJAEML), 7(4), 1–94.
Kunduru, A. R. (2023). Effective Usage of Artificial Intelligence in Enterprise Resource Planning Applications. International Journal of Computer Trends and Technology, 71(4), 73–80. https://doi.org/10.14445/22312803/ijctt-v71i4p109
Mandvikar, S. (2023). Augmenting Intelligent Document Processing (IDP) Workflows with Contemporary Large Language Models (LLMs). International Journal of Computer Trends and Technology, 71(10), 80–91. https://doi.org/10.14445/22312803/ijctt-v71i10p110
Morshed, A. (2020). Role of working capital management in profitability considering the connection between accounting and finance. Asian Journal of Accounting Research, 5(2), 257–267. https://doi.org/10.1108/ajar-04-2020-0023
Morshed, A. (2024a). Comparative analysis of accounting standards in the Islamic banking industry: A focus on financial leasing. Journal of Islamic Accounting and Business Research. https://doi.org/10.1108/jiabr-12-2022-0349
Morshed, A. (2024b). Mathematical Analysis of Working Capital Management in MENA SMEs: Panel Data Insights. Applied Mathematics & Information Sciences, 18(1), 111–124. https://doi.org/10.18576/amis/180112
Morshed, A., & Ramadan, A. (2023). Qualitative Analysis of IAS 2 Capability for Handling the Financial Information Generated by Cost Techniques. International Journal of Financial Studies, 11(2), 67. https://doi.org/10.3390/ijfs11020067
Pan, Y., & Zhang, L. (2021). Roles of artificial intelligence in construction engineering and management: A critical review and future trends. Automation in Construction, 122, 103517. https://doi.org/10.1016/j.autcon.2020.103517
Peng, Y., Ahmad, S. F., Ahmad, A. Y. A. B., et al. (2023). Riding the Waves of Artificial Intelligence in Advancing Accounting and Its Implications for Sustainable Development Goals. Sustainability, 15(19), 14165. https://doi.org/10.3390/su151914165
Ragazou, K., Passas, I., Garefalakis, A., et al. (2023). Big Data Analytics Applications in Information Management Driving Operational Efficiencies and Decision-Making: Mapping the Field of Knowledge with Bibliometric Analysis Using R. Big Data and Cognitive Computing, 7(1), 13. https://doi.org/10.3390/bdcc7010013
Rahmaty, M., & Nozari, H. (2023). Optimization of the hierarchical supply chain in the pharmaceutical industry. Edelweiss Applied Science and Technology, 7(2), 104–123. https://doi.org/10.55214/25768484.v7i2.376
Ramadan, A., Alkhodary, D., Alnawaiseh, M., et al. (2024). Managerial Competence and Inventory Management in SME Financial Performance: A Hungarian Perspective. Journal of Statistics Applications & Probability, 13(3), 859–870. https://doi.org/10.18576/jsap/130301
Ramadan, A., & Morshed, A. (2024). Optimizing retail prosperity: Strategic working capital management and its impact on the global economy. Journal of Infrastructure, Policy and Development, 8(5), 3827.
Saeed, S., Altamimi, S. A., Alkayyal, N. A., et al. (2023). Digital Transformation and Cybersecurity Challenges for Businesses Resilience: Issues and Recommendations. Sensors, 23(15), 6666. https://doi.org/10.3390/s23156666
Sajid, M., & Ertz, M. (2024). Blueprints to Benefits: Towards an Index to Measure the Impact of Sustainable Product Development on the Firm’s Bottom Line. Sustainability, 16(2), 537. https://doi.org/10.3390/su16020537
Sharabati, A. A. A., Ghaith, A. A., Morshed, A. M. E. R., ABUSAIMEH, H., & AL-HADDAD, S. H. A. F. I. G. (2024). Balanced Scorecard and Competitive Strategies of Small and Medium Manufacturing Organizations. DOI, 10(23207.2024), 21-8.
Shiyyab, F. S., & Morshed, A. Q. (2024). The Impact of Credit Risk Mitigation on the Profits of Investment Deposits in Islamic Banks. In Islamic Finance: New Trends in Law and Regulation (pp. 117-129). Cham: Springer Nature Switzerland.
Siriwardhana, S., & Moehler, R. C. (2023). Enabling productivity goals through construction 4.0 skills: Theories, debates, definitions. Journal of Cleaner Production, 425, 139011. https://doi.org/10.1016/j.jclepro.2023.139011
DOI: https://doi.org/10.24294/jipd.v8i6.4241
Refbacks
- There are currently no refbacks.
Copyright (c) 2024 Amer Morshed, Abdulhadi Ramadan, Bassam Maali, Laith T. Khrais, Abed Al Rahman Baker
License URL: https://creativecommons.org/licenses/by/4.0/
This site is licensed under a Creative Commons Attribution 4.0 International License.