scholarly journals Accounting procedures digital transformation for business processes improvement

2021 ◽  
Vol 8 (2) ◽  
pp. 44-50
Author(s):  
Alla Yasinska ◽  
Keyword(s):  
Business Models ◽  
Business Processes ◽  
New Technologies ◽  
Implementation Process ◽  
Transformation Process ◽  
Digital Transformation ◽  
Maximum Effect ◽  
Feasibility Assessment ◽  
Communication Links ◽  
The Impact

The article researches the impact of the digitalization and digital transformation process on the construction of functional management systems of modern enterprises. The article materials consider new information opportunities for business models building and business processes organization. Approaches to the improvement of operational processes and their optimization are substantiated. The evidence is given that the possible way to implement digitalization in certain areas may be: the concept (strategy), staff training and education, the new technologies implementation. It is defined that the implementation of the digital transformation of the business model can take place in stages at the level of its individual elements or components. It is supposed reasonable to use a system-oriented approach to management, which is based on understanding the object of management as a whole, the need for internal and external communication links, i.e., a set of related management methods and tools in the enterprise and its structural units. System-oriented management of the digitalization process in the article is considered to involve the business processes transformation. Such processes should be based on perfect digital strategy planning. Important components are the feasibility assessment of practical digital initiatives implementation, monitoring of promising areas of action, forecasting the expected effect of digitalization and comparison of innovative initiatives. The application of a systematic approach to the management of the digitalization process is justified at certain stages, which will allow in a certain sequence and order to get the maximum effect and ensure the achievement of goals and acceptable results. The main stages of system-oriented management of the business processes digitalization process are offered, as well as the main groups of factors of influence (external and internal) on the digitalization implementation process are determined.

scholarly journals ESTIMATION OF BUSINESS VALUE AS AN ELEMENT OF FORMATION OF BUSINESS MODELS OF INDUSTRIAL ENTERPRISES AND AGRICULTURAL COMPLEX IN THE CONDITIONS OF DIGITALIZATION OF THE ECONOMY

2020 ◽  
Author(s):  
Maksym Odnorog ◽  
◽  
Mykhailo Pivtorak ◽  
Oksana Zagorodniuk ◽  
◽  
...  
Keyword(s):  
Best Practices ◽  
Business Models ◽  
Business Processes ◽  
New Technologies ◽  
Digital Technologies ◽  
Economic Security ◽  
Digital Transformation ◽  
Enterprise Management ◽  
Industrial Enterprises ◽  
Digital Management

To date, digital technologies and their widespread practice have formed the potential for completely new business models. However, most organizations are either in the early stages of the digital transformation process, or do not yet dare to form a digital business model that will provide real benefits from digital technologies. In any case, taking into account the enormous pace of global digitalization, it is extremely important to adapt the best practices of digital transformation to the improvement of the Ukrainian economy as soon as possible. Based on this, consider the process of researching new and adapting existing management models. Digital transformation – the introduction of modern technologies to radically change the business models of enterprise management today is considered the most important topic for organizations around the world. The requirements of the new digital economy represent the digital transformation as a conscious strategic process of business modification through adaptive management and implementation of digital technologies, ie the restructuring of existing business models. The same happens at industrial and agro-industrial enterprises, the analog period of which is coming to an end. Industries are entering the digital age, thanks to which enterprises are developing in accordance with the new focus. For this reason, it is very important for the formation of digital models of enterprise management to strategically understand the possibilities of digital technology development in their connection with business processes and business models. The analysis of the main traditional models of effective management of enterprises was carried out and their fundamental differences from the Ukrainian approach to management were revealed, the possibilities of implementation of the principles of existing business models by Ukrainian enterprises were considered. In addition, a roadmap for the transition from a traditional to a digital enterprise was proposed for consideration. The process of modeling the digital management system of the enterprise is revealed. Currently, a prerequisite for the prosperity of the economy of industry and agriculture and, consequently, the economy of Ukraine, is adaptive digital management as a basis for economic security of the enterprise. It was found that the relentless introduction of digital technologies, «copying best practices» can later be in reality as dangerous as the refusal to master new technologies. Therefore, choosing the direction of your own digitization, you must first study everything thoroughly, so as not to miss the moment and not to remain in the ranks of the latter or in the past.

scholarly journals The Digital Transformation and Disruption in Business Models of the Banks under the Impact of FinTech and BigTech

2020 ◽  
Vol 14 (1) ◽  
pp. 294-305
Author(s):  
Virginia Mărăcine ◽  
Oona Voican ◽  
Emil Scarlat
Keyword(s):  
Artificial Intelligence ◽  
Machine Learning ◽  
Big Data ◽  
Business Models ◽  
Business Processes ◽  
Digital Transformation ◽  
Operating Costs ◽  
Continuous Increase ◽  
The Impact

AbstractThe explosive development of artificial intelligence, machine learning and big data methods in the last 10 years has been felt in the financial-banking field which has subjected to profound changes aimed at determining an unprecedented increase in the efficiency and profitability of the businesses they carry out. The tendencies of applying the concepts coming from AI, together with the continuous increase of the volume, complexity and variety of the data that the banks collect, store and process have acquired the generic names of FinTech, respectively BigTech. Five main areas exist where Fintechs and Bigtechs can provide improvements in business models for the banks: introducing specialized platforms, covering neglected customer segments, improving customer selection, reduction of the operating costs of the banks, and optimization of the business processes of the banks. We will present some of these improvements, and then we will show how the business models of the banks dramatically transform under the influence of these changes.

Evaluating the impact of digital technologies on the performance of an industrial enterprise

2020 ◽  
Vol 8 (8) ◽  
pp. 1545-1565
Author(s):  
M.B. Rybakov ◽  
G.V. Kolesnik
Keyword(s):  
Systems Analysis ◽  
Business Models ◽  
New Technologies ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Digital Culture ◽  
Industrial Enterprises ◽  
Digital Competencies ◽  
The Impact ◽  
Comprehensive Indicator

Subject. Considering the use of traditional business models, the digital transformation becomes a cornerstone for industrial enterprises to remain competitive and survive in the market. Therefore, it is important to identify factors making the integration of digital technologies into operations more effective. Objectives. We analyze how digital technologies influence the performance of industrial enterprises. We also identify what improves corporate operations, and choose digital transformation metrics. Methods. The study relies upon methods of the logic and systems analysis, multivariate optimization. Results. The article sorts contemporary challenges to the corporate competitiveness due to the emergence of digital technologies. We discover factors that spur the performance of industrial enterprises in the digital economy. We suggest using a comprehensive metric to gauge the efficiency of digital technologies integrated into the enterprise's operations. Conclusions and Relevance. Digital technologies are not supposed to penetrate every sector. Furthermore, to effectively integrate them, the company should at least have the digital culture and employees who have basic digital competencies. If enterprises have low capabilities for perceiving new technologies, the priority development may turn to be hard for them in those sectors where digital technologies and knowledge are most important. The single indicator is not enough to gauge whether digital technologies have been effectively implemented. The comprehensive indicator seems more promising, since it accounts for indirect effects, rather than direct effects on the performance.

scholarly journals Assessment of the Readiness of Industrial Enterprises for Automation and Digitalization of Business Processes

Electronics ◽  
2021 ◽  
Vol 10 (21) ◽  
pp. 2722
Author(s):  
Irina Krakovskaya ◽  
Julia Korokoshko
Keyword(s):  
Information And Communication Technologies ◽  
Business Models ◽  
Business Processes ◽  
Digital Transformation ◽  
Negative Effects ◽  
Industrial Enterprises ◽  
Degree Of Satisfaction ◽  
Industry Automation ◽  
The Republic ◽  
The Impact

The purpose of this article is to identify the promising areas of digitalization in the work of industrial enterprises at the national and regional level. The study was conducted on the basis of industrial enterprises of the Republic of Mordovia using the methods of a systematic approach, comparative and strategic analysis, mathematical statistics, etc. As a result, we assessed the impact of the digital transformation of the economy on the development of industrial enterprises in Russia and the Republic of Mordovia, changes in the efficiency of enterprises associated with the expansion of the use IT, the degree of satisfaction of enterprises with the use of specific tools of information and communication technologies, etc. Spearman’s rank linear correlation demonstrates positive and negative effects of ICT using the industrial enterprises. The novelty and practical value of the obtained results consists in the fact that confirmed research hypotheses reflect both specific regional factors and systemic nationwide problems of digitalization of the Russian industry, automation of business process, allow us to outline the priority areas of digital transformation of business models not only of the studied enterprises industry of the region, but also the non-resource sector of the industry in general.

Integrated Predictive Experience Management Framework (IPEMF) for Improving Customers Experience

2022 ◽  
Vol 12 (1) ◽  
pp. 0-0
Keyword(s):  
Feedback Loop ◽  
Business Models ◽  
Business Processes ◽  
Digital Technologies ◽  
Customer Experience ◽  
Digital Transformation ◽  
Management Framework ◽  
New Business ◽  
The Impact ◽  
New Business Models

Enterprises are adopting digital transformation with an exponential rate to drive growth through new business models and the use of digital technologies. Digital transformation is a business imperative rather than technology imperative. Hence, customer experience during and post-transformation is key to the success of the digital transformation. The present paper proposes an Integrated Predictive Experience Management Framework (IPEMF) for improving customer experience. IPEMF is- a structured and methodological business processes centric connected experience framework with the customer at the centre. The uniqueness of IPEMF is that it seamlessly integrates business processes, technology, organisation, and customer behaviour. It is agnostic of the business vertical or the geography. The framework puts forth an approach to predict the impact on customer experience proactively and provides a feedback loop to help continuously improve the experience. IPEMF helps enterprises build intuitive, trusted relationships and hyper-personalised customer experience through the customer journey.

scholarly journals Digital Transformation and Artificial Intelligence Applied to Business: Legal Regulations, Economic Impact and Perspective

Laws ◽  
2021 ◽  
Vol 10 (3) ◽  
pp. 70
Author(s):  
Ricardo Francisco Reier Forradellas ◽  
Luis Miguel Garay Gallastegui
Keyword(s):  
Artificial Intelligence ◽  
Business Models ◽  
New Technologies ◽  
Relevant Information ◽  
Legal Framework ◽  
Transformation Process ◽  
Digital Transformation ◽  
Analytical Models ◽  
Customer Engagement ◽  
Digital Disruption

Digital transformation can be defined as the integration of new technologies into all areas of a company. This technological integration will ultimately imply a need to transform traditional business models. Similarly, artificial intelligence has been one of the most disruptive technologies of recent decades, with a high potential impact on business and people. Cognitive approaches that simulate both human behavior and thinking are leading to advanced analytical models that help companies to boost sales and customer engagement, improve their operational efficiency, improve their services and, in short, generate new relevant information from data. These decision-making models are based on descriptive, predictive and prescriptive analytics. This necessitates the existence of a legal framework that regulates all digital changes with uniformity between countries and helps a proper digital transformation process under a clear regulation. On the other hand, it is essential that this digital disruption is not slowed down by the regulatory framework. This work will demonstrate that AI and digital transformation will be an intrinsic part of many applications and will therefore be universally deployed. However, this implementation will have to be done under common regulations and in line with the new reality.

Influence of social networks on business processes’ development

2020 ◽  
Vol 19 (12) ◽  
pp. 2225-2252
Author(s):  
E.V. Popov ◽  
V.L. Simonova ◽  
O.V. Komarova ◽  
S.S. Kaigorodova
Keyword(s):  
Social Networks ◽  
Social Media ◽  
Business Models ◽  
Business Processes ◽  
Digital Economy ◽  
Theoretical Understanding ◽  
Sales Channels ◽  
A Value ◽  
The Impact

Subject. The emergence of new ways of interaction between sellers and buyers, the formation of new sales channels and product promotion based on the use of digital economy tools is at the heart of improving the business processes. Social networks became a tool for development; their rapid growth necessitates theoretical understanding and identification of potential application in enterprise's business process digitalization. Objectives. We explore the role of social media in the digitalization of business processes, systematize the impact of social networks on business processes of enterprises in the digital economy. Methods. The theoretical and methodological analysis of social networks as a tool for digitalization of company's business processes rests on the content analysis of domestic and foreign scientific studies, comparison, generalization and systematization. Results. We highlight the key effects of the impact of social networks on the business processes of the company; show that the digitalization of business processes should be considered in the context of a value-based approach, aimed at creating a value through the algorithmization of company operations. We determine that social networks are one of the most important tools for digitalization of company's business processes, as they have a high organizational and management potential. We also systematize the effects of social media on company's business processes. Conclusions. We present theoretical provisions of the impact of social networks on business processes of enterprises, which will enable to model and organize ideas about the development of digital ecosystems and the formation of business models.

scholarly journals The Impact of Force Factors on the Benefits of Digital Transformation in Romania

2021 ◽  
Vol 11 (5) ◽  
pp. 2365
Author(s):  
Sorinel Căpușneanu ◽  
Dorel Mateș ◽  
Mirela Cătălina Tűrkeș ◽  
Cristian-Marian Barbu ◽  
Adela-Ioana Staraș ◽  
...  
Keyword(s):  
Perceived Risk ◽  
Industry 4.0 ◽  
Business Models ◽  
Structural Model ◽  
Digital Transformation ◽  
Sample Survey ◽  
Intention To Use ◽  
Online Questionnaire ◽  
Use Of Technology ◽  
The Impact

The digital transformation has produced changes in all existing areas of activity worldwide. There are many factors that can influence the intention to use Industry 4.0 processes and solutions and change the behavior of organizations and their business models. The aim of this study is to validate the econometric model on assessing the significant impact of distinct factors on the intention to use Industry 4.0 processes and solutions, the benefits of digital transformation perceived by organizational management and the differences between distinct groups analyzed. The research method used within the quantitative study was the sample survey, using the online questionnaire as a data collection tool. Three hundred forty-seven valid questionnaires were collected and the response rate of the respondents was 64.25%. A new structural model was generated based on the elements of the Unified Theory of Acceptance and Use of Technology (UTAUT). The results of the study indicated that Perceived competitiveness and Perceived risk have a significant impact on Intention to Use Industry 4.0 processes while Perceived vertical networking solutions and Perceived integrated engineering solutions have a significant influence on the Intention to Use Industry 4.0 solutions. In conclusion, there is a positive and significant association between Intention to Use Industry 4.0 solutions and Benefits of Digital Transformation.

scholarly journals Corporate digital responsibility (CDR) in construction engineering—ethical guidelines for the application of digital transformation and artificial intelligence (AI) in user practice

2021 ◽  
Vol 3 (10) ◽  
Author(s):  
Bianca Weber-Lewerenz
Keyword(s):  
Artificial Intelligence ◽  
Business Models ◽  
Research Question ◽  
Transformation Process ◽  
Digital Transformation ◽  
Fundamental Rights ◽  
Ethical Framework ◽  
Ethical Guidelines ◽  
Ethical Perspective ◽  
Construction Engineering

AbstractDigitization is developing fast and has become a powerful tool for digital planning, construction and operations, for instance digital twins. Now is the right time for constructive approaches and to apply ethics-by-design in order to develop and implement a safe and efficient artificial intelligence (AI) application. So far, no study has addressed the key research question: Where can corporate digital responsibility (CDR) be allocated, and how shall an adequate ethical framework be designed to support digital innovations in order to make full use of the potentials of digitization and AI? Therefore, the research on how best practices meet their corporate responsibility in the digital transformation process and the requirements of the EU for trustworthy AI and its human-friendly use is essential. Its transformation bears a high potential for companies, is critical for success and thus, requires responsible handling. This study generates data by conducting case studies and interviewing experts as part of the qualitative method to win profound insights into applied practice. It provides an assessment of demands stated in the Sustainable Development Goals by the United Nations (SDGs), White Papers on AI by international institutions, European Commission and German Government requesting the consideration and protection of values and fundamental rights, the careful demarcation between machine (artificial) and human intelligence and the careful use of such technologies. The study discusses digitization and the impacts of AI in construction engineering from an ethical perspective. This research critically evaluates opportunities and risks concerning CDR in construction industry. To the author’s knowledge, no study has set out to investigate how CDR in construction could be conceptualized, especially in relation to digitization and AI, to mitigate digital transformation both in large, medium- and small-sized companies. This study applies a holistic, interdisciplinary, inclusive approach to provide guidelines for orientation and examine benefits as well as risks of AI. Furthermore, the goal is to define ethical principles which are key for success, resource-cost-time efficiency and sustainability using digital technologies and AI in construction engineering to enhance digital transformation. This study concludes that innovative corporate organizations starting new business models are more likely to succeed than those dominated by a more conservative, traditional attitude.

scholarly journals The “Smart Work” Myth: How Bureaucratic Inertia and Workplace Culture Stymied Digital Transformation in the Relocation of South Korea’s Capital

2021 ◽  
Author(s):  
JY Hur ◽  
Wonhyuk Cho ◽  
G Lee ◽  
Sarah Bickerton
Keyword(s):  
Large Scale ◽  
Business Processes ◽  
New Technologies ◽  
Central Government ◽  
Digital Transformation ◽  
Capital City ◽  
Digital Government ◽  
Face To Face ◽  
Work Routines ◽  
Traditional Work

© 2019, © 2019 Asian Studies Association of Australia. Starting in 2012, the South Korean government has implemented a large-scale relocation of its central government agencies, which are now split between the existing capital city (Seoul) and a new administrative-capital city (Sejong). One of the most controversial aspects of the relocation has been the bureaucratic inefficiency caused by its split nature. ICT-enabled solutions, dubbed “Smart Work”, were adopted to deal with this challenge, but have not been effective in avoiding inefficiency. In this article, we argue that different forms of organisational inertia created resistance to switching from traditional work routines to Smart Work’s ICT-assisted equivalents. Various forms of inertia–psychological (anxiety around learning new technologies), cognitive (culture/norms in face-to-face work routines), technological (stickiness of pre-existing IT system), political (continued influence from elected officials), and resource allocation (success bias from previous digital government projects)–significantly influenced public managers’ work practices in Sejong. These types of inertia, we argue, have reinforced face-to-face communication rather than digital communication, on-site visits rather than video-conferencing, and fixed-time work rather than flex-work. Our findings challenge dominant views from functionalist models of digital transformation and emphasise the importance of cultural congruency between workplace norms and technophilic business processes.

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