What is E-Finance?

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E-Finance

As an extreme simplification, E-Finance is about web-enabling everything that the finance function does - staff expense claims, sales orders, invoice payments, financial information - all available using web technology. However, if its true benefits are to be realized, E-Finance goes much beyond just putting a web front end to everything. It is about changing fundamentally the value proposition of the finance function by redefining its core activities, changing the interaction mechanism between itself and its prime customers, and moving it up the value chain by creating and assisting others in the organization to create better value for shareholders. Enabling technology plays a key part in making the transition to E-Finance, and as we shall see later, it is THE means to the end.



An E-Finance transformation sees finance change its role from transaction processing to true business partnering, with far reaching implications on interactivity with external customers, suppliers and also others within the organization.
E-finance is defined as "The provision of financial services and markets using electronic communication and computation". In this paper we outline research issues related to e-finance that we believe set the stage for further work in this field. Three areas are focused on. These are the use of electronic payments systems, the operations of financial services firms and the operation of financial markets


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