ERP EXCELLENCE A DATA GOVERNANCE APPROACH TO SAFEGUARDING FINANCIAL TRANSACTIONS

Abstract

As organizations increasingly rely on ERP for their financial operations, the need for effective data governance becomes paramount to ensure accuracy, security, and compliance. This study investigates the principles of data governance as applied to ERP, with a specific focus on safeguarding financial transactions.The research delves into the intricacies of ERP data governance, examining how robust governance frameworks contribute to the integrity of financial data throughout the transaction lifecycle. By analyzing case studies and industry best practices, this study identifies key challenges and opportunities in implementing data governance strategies tailored to ERP environments.The findings underscore the critical role of proactive data governance in mitigating risks associated with financial transactions within ERP systems. The integration of governance protocols not only enhances data quality and consistency but also fortifies security measures, aligning financial processes with regulatory requirements. Furthermore, the study explores the synergy between data governance and ERP excellence, emphasizing the potential for improved decision-making, operational efficiency, and stakeholder trust. Insights gained from this research offer practical recommendations for organizations seeking to optimize their data governance approach within the context of ERP, particularly in the safeguarding of financial transactions. In conclusion, this study advocates for a holistic data governance approach to achieve ERP excellence in managing financial transactions. The research contributes to the growing body of knowledge on the intersection of data governance and ERP systems, providing a roadmap for organizations striving to balance innovation, efficiency, and data security in their financial operations. In the ever-evolving landscape of financial services, the adoption of robust data governance practices emerges as a strategic imperative for institutions seeking to navigate the complexities of data management. This research presents a comprehensive case study that delves into the real-world implementation of data governance within a domestic bank group, shedding light on the challenges, strategies, and transformative impact associated with this undertaking. The study employs a qualitative approach, drawing insights from interviews, documentation analysis, and direct observations within the bank group's operational environment.