Purpose – This paper aims to present studies related to digital maturity, highlight its effect on financial performance. This paper alsodepicts applied methodology from recent research across various fields. Design/methodology/approach – In this review article, state-of-the-art of digital maturity research are presented by merging literature from the subject of technology, finance, marketing,and innovations. Findings –Digital maturity research has become increasingly widespread in various areas in recent years using both qualitative and quantitative methods. Recent research has expanded on the factors influencing the financial performance based on an organization’s digital maturity such as big data analytics, cloud computing, artificial intelligence, process automation, internet of things (IoT), computer simulations, and online technology. Research limitations/implications – Although research on cryptocurrency exchange adoption has gained attention during the last five years, producing new dimension and exploring qualitative method still become an interesting subject to be explored. Originality/value – This article introduces ways to examine digital maturity for researchers that have not yet been exposed to the method. The article is enriching the review on digital maturity effect towards financial performance.