The impact of cloud accounting on financial transparency and decision making in Vietnamese enterprises

Abstract

This research addresses how cloud accounting impacts financial transparency and decision-making in Vietnamese enterprises. The purpose of this research is to explore the specific benefits and challenges of cloud accounting in the Vietnamese business context, where digital transformation is still emerging. The study used a qualitative approach, using case studies, conducting 15 semi-structured interviews with 5 financial managers; 5 accountants; and 5 chief financial officers (CFOs) or executives, and conducting 2 focus group discussions with key stakeholders from five Vietnamese companies across various industries (2 manufacturing companies; 1 technology and IT services company; 1 retail and e-commerce company; and 1 financial services company). The findings reveal that cloud accounting significantly improves financial transparency through real-time data access and enhances decision-making by providing accurate, up-to-date financial information. However, challenges such as system integration difficulties and high implementation costs were also identified. These results are significant because they highlight both the potential of cloud accounting to transform financial management in Vietnam and the barriers that businesses must overcome to fully realize these benefits. The study suggests that addressing these challenges through training, customization, and policy support could accelerate cloud accounting adoption and improve financial practices across the country.