The softwares for financial administration are highly developed – they are cost-efficient, flexible, easy to use and enable real-time financial reporting. Real-time reporting provides crucial information for the management to run the business. Case-organization, the National Union of BBA students, has financial processes that need to be updated. Now, all the material for bookkeeping is collected on paper, not in electrical form. Payments are made manually, not through a software meant for managing financial processes.

The goal of this thesis is to look into differences between financial processes run by paper and electrical material, and to find out what are the benefits and possibilities of updating financial processes into electrical form. The sources for information are online articles, laws managing financial administration and guide book for digitalizing financial processes.

The notes made during the thesis process support the message of literature and sources of information – it would be profitable and cost-efficient for the National Union of BBA students to digitalize its financial processes to their maximum. This thesis is a learning process which supports the project of digitalizing the financial processes of the National Union of BBA students. The next step is to make cost calculations and detailed deployment plan for the project.