The Impact of Digitalization and Blockchain Technology on Accounting Process Efficiency in Global Companies

Abstract

Digital transformation has changed various aspects of business, including in accounting. Digitization and blockchain technology offer higher efficiency, transparency, and security in the recording of global corporate financial transactions. However, the adoption of this technology still faces various challenges such as regulations, system integration, and high implementation costs. This research aims to analyze the impact of digitalization and blockchain on the efficiency of accounting processes in global companies as well as identify the challenges faced in their implementation. This study uses a qualitative method with a literature review approach. Data was collected from various scientific journals, academic books, as well as relevant industry publications in the last five years. Thematic analysis techniques are used to identify key patterns and trends in the application of digitalization and blockchain in the field of accounting. The results show that digitalization enables the automation of accounting processes, reduces human error, and increases speed in auditing and financial reporting. Meanwhile, blockchain offers a more transparent and secure record-keeping system, reduces the risk of fraud, and improves the efficiency of global financial transactions. However, the main challenges in its implementation include high initial costs, lack of technical expertise, and the lack of uniform regulations in various countries. Therefore, a more mature adaptation strategy is needed so that the benefits of digitalization and blockchain can be optimized in the global corporate accounting system.