A study published in the International Journal of Economics and Business Research examines the role of digital transformation in enhancing efficiency within financial systems across Jordan’s public shareholding industrial companies. Information and communications technology continues to reshape industries globally, significantly impacting local businesses.
Conducted by Khalid Alomari, Ali Salah, and Rukana Alshweesh from Al-Hussein Bin Talal University in Ma’an, Jordan, the research highlights how technological advancements are influencing the industrial sector in Jordan. The authors note that companies are increasingly adopting digital tools to streamline operations and enhance decision-making processes.
Digital transformation encompasses a wide range of changes across various areas, including business models, operations, customer interactions, and financial systems. Technology plays a critical role in delivering accurate and timely financial data, essential for guiding both daily operations and long-term strategic planning.
As the volume of data generated by technology grows, traditional methods of managing financial information have become inadequate. The research discusses various aspects of digital transformation, such as customer engagement and innovation in business models, and their subsequent effects on financial performance. Companies that adopt new business models with integrated digital tools can enhance their internal operations and better cater to customer needs. In today’s fast-paced digital landscape, adapting to change has become vital for organizations seeking to maintain a competitive edge.
The study indicates that Jordanian companies are modernizing their approaches to fintech, which is likely to have broader implications for the national economy. This shift is expected to enhance national competitiveness, create new growth opportunities, and potentially contribute to sustainable economic development.
