Digital Transformation of Financial Business to Enhance Enterprise Competitiveness

Journal article

Authors/Editors

Strategic Research Themes

Publication Details

Author list: Watcharapoj Sapsanguanboon;Preeyakamon Auanguai

Publisher: มหาวิทยาลัยอุบลราชธานี

Publication year: 2020

Volume number: 9

Issue number: 2

Start page: 1

End page: 17

Number of pages: 17

ISSN: 2286-6809

eISSN: 2651-1819

URL: https://so03.tci-thaijo.org/index.php/jms_ubu/article/view/217202

Abstract

                 This research aims to study about motivation of digital transformation for financial business of case study enterprises in Thailand and to analyze the benefits of digital transformation of financial business of case study enterprises in Thailand using the balanced scorecard. It deploys qualitative research method using multi-case studies. In-depth interviews are conducted to collect data from senior management of three financial businesses. The structured interviews are done for three financial enterprises in order to ensure the data collection is appropriate. Therefore, there is no discrepancies in the interviews and findings can be used for reliable analysis.               The study finds out that motivation for digital transformation of case study enterprises are the competition which is the most influential factor in decision making for digital transformation as well as the need to offer products or services that are different from competitors. Moreover, the need to provide more convenience to customers is also another motivation for digital transformation in order to retain customers and attract new customers so that enterprises can generate profits. In addition, enterprises recognize the benefits of digital transformation which are to encourage operational efficiency and the development of innovation by managing effective internal process and learning in order to develop the organization for growth. These affect the financial performance in terms of overall costs which enhance the enterprise competitiveness according to the balanced scorecard.

Keywords

การเปลี่ยนผ่าน, ความสามารถทางการแข่งขัน, ดิจิทัล, ธุรกิจทางการเงิน