Data acquisition and application of internet of things in financial management

Abstract

With the rapid development of information technology, Internet of Things technology has become a hot topic in today’s society. This study aims to explore how IoT technology impacts various aspects of financial management, in particular how it changes the collection, processing, and parsing of financial data. Through in-depth literature review, questionnaire survey and experimental design, the research found that IoT technology has a significant positive effect on sales, transaction times and inventory control. But at the same time, data security, privacy concerns and initial technology investment are also challenges that enterprises need to consider when adopting these technologies. Overall, IoT technology offers tremendous opportunities for financial management, but businesses must fully assess the potential risks and benefits when implementing it.