Achieving this, he said, requires targeted financial solutions, embracing the right technologies, and adherence to regulatory standards.
Oyedokun said this in Ibadan at a retreat organised by Federal Polytechnic, Ilaro, Ogun State, for workers in the Bursary and Audit Unit.
Speaking on ‘Digital Transformation in Financial Management’, he emphasised the need for tailored financial solutions that align with the organisation’s goals and objectives to enhance output.
He noted that technologies like Artificial Intelligence (AI), blockchain, cloud computing, and data analytics are fast revolutionising how financial data are collected, processed and reported, stressing the need for upgrades.
According to him, with the shift from manual to digital solutions, the financial terrain is largely impacted by the evolving digital landscape currently transforming industries globally.
He called for periodic upskilling of financial and administrative workers to keep them engaged with trends, in addition to investing heavily in cybersecurity for robust security protocols.
He submitted that the dynamism in the modern business environment could no longer cope with the imperfections of manual processing, especially as the demand for accuracy, efficiency and agility increases.
“Digital upgrade in finance goes beyond adopting new technologies, but fundamentally rethinking how financial functions operate, aiming to provide value to both customers and internal stakeholders.
“It drives competitive advantage by optimising operations and enabling businesses to adapt quickly to market changes. In academia, it is crucial to ensure efficiency and operational efficiency of educational institutions,” he said.
