Era of digital technologies – Just hype or an integrated practice in an accounting context

Abstract

The role and variety of digital technologies in accounting have evolved over time. New innovations and the increased abundance of available data facilitate more efficient processes and the utilization of versatile information in business. Both academic researchers and practitioners are continuously considering new opportunities to integrate digital tools into financial accounting, management accounting, and auditing. The aim of this thesis is to investigate how Finnish companies have implemented digital technologies in the context of accounting.

The theoretical framework of the thesis is built around the resource-based view. This indicates that organization's unique resources have an impact on the success of technology implementation. Consequently, these factors that affect the adoption of digital technologies are examined from both individual and organizational level perspectives.

The nature of this study is qualitative. The topic was approached by conducting a systematic review of master’s theses in Finnish universities. The empirical material is derived from interviews conducted for master’s theses in the field of accounting. In total, the evidence is based on interviews with 96 companies and 246 individuals encompassing discussions on current applications in various areas of accounting.

The results showed a generally increased trend in the adoption of digital technologies. Findings suggest that process-driven automation and business analytics technologies are adopted the most. Additionally, more sophisticated technologies, such as artificial intelligence, implementation is lagging as expected. Overall, the hype around digital technologies is more apparent than the comprehensive implementation. The theory-based theming of the results reveals that perceived value by individuals, expertise, management support, and the company’s financial and personnel resources are crucial factors that drive the expansion of digital technologies. In the future, a comprehensive understanding of individual and organizational level factors is essential in scaling up the use of digital technologies.