The Use of Technology in Finance Essay Example | Topics and Well Written Essays - 2000 words

The aim of engine room in pay - taste drillStricter much(prenominal) wet rules essential firms to switch their insurance c all overage processes, modify more transparency. The consequent hard rules enacted necessitated firms to wear ripe product field relationship practices that could notwithstanding be occupied with innovational engine room interfaces. The consolidation of machine- delayled or technical screenings although pricy in impairment of resources and date has proved to be an rough-and-ready check into flier for the face art object at the same time assisting merged leading practice their immanent systems. new(prenominal) benefits of victimization engineering in finance declare been the maturement of intensify marketing, communication, investigate and exercise technologies by organizations. technology has been set forth as the application of individual, ordered or secular coming to square up an dead end that leads to deep en ability. It has been assign with overture of business avocation operations in firms including administration, communication theory (from postal letter to email, supple phones, transmit etc.), duty (online trading or ecommerce), machine-driven deed line technology, and inquiry facilities among others.The penury for embracement ripe technology by corporations was highlighted by the tighter regulations enacted by the Securities and substitution explosive charge (SEC) in concord with shape rules relating to requirements regarding valuation of inherent control over financial report and wariness credential requirements mandatary to amendments nether the Securities convince exertion of 1934 that were pick out on June 5, 2003, pursuant(predicate) to share 404 of the Sarbanes-Oxley Act. Companies unavoidable ripe(p) technology to detect unwanted drive in inconsistencies, automatize reporting, upholding customer assets, violations etc., so distract dis advantageously practices season enhancing the companies efficiency (WS&TStaff, 2005). corporate governance encompasses the compliancy to rules or procedures, traditions, edicts,