The Strategy of Financial Management of an Enterprise in the Context of Business Process Digitalization

Житар, Максим Олегович (2024) The Strategy of Financial Management of an Enterprise in the Context of Business Process Digitalization Економіка та суспільство (67). pp. 1-6. ISSN 2524-0072

Text M_Zhytar_ES_67_24.pdf - Published Version Download (190kB)

Abstract

The article addresses the issue of developing a financial management strategy for enterprises in the context of business process digitalization. The primary focus is on developing a comprehensive strategy that takes into account the specifics of integrating digital technologies at all stages of financial management. In the face of rapid technological advancements, businesses are forced to adapt their processes, including financial operations, to new realities. Developing an effective financial management strategy requires a holistic approach, which involves integrating digital tools at every stage of financial management. The foundation of such a strategy is the combination of traditional approaches with the latest technologies to achieve maximum efficiency and flexibility in managing financial resources. The study identifies the key stages of this strategy: automation of routine operations (accounting, calculations, forecasting, and cash flow management), integration of analytical tools for processing large data volumes, and implementation of control and risk management systems using artificial intelligence. An important aspect of the article is the evaluation of the effectiveness of digital technology implementation in the financial processes of enterprises, based on the analysis of such indicators as profitability, liquidity, and capital engagement levels. It is proven that digitalization of business processes allows for increased productivity, cost reduction, improved financial resource management, and minimized risks associated with human factors. The article also examines the impact of digitalization on the long-term financial stability of enterprises, evaluated through the analysis of these indicators. The use of digital tools enables businesses not only to improve operational activities but also to ensure stability and competitiveness in the market. It is concluded that the implementation of the proposed strategy contributes to strengthening financial stability, optimizing capital structure, and reducing dependency on borrowed funds. Thus, the proposed approaches to financial management are effective in the context of digital transformation and contribute to the successful development of enterprises in the modern market environment.

Item Type:	Article
Uncontrolled Keywords:	financial activity; digitization of business processes; strategy; digital technologies; financial resources; risks; financial stability; enterprises
Subjects:	Статті у базах даних > Index Copernicus Статті у періодичних виданнях > Фахові (входять до переліку фахових, затверджений МОН)
Divisions:	Факультет економіки та управління > Кафедра фінансів
Depositing User:	Професор Максим Олегович Житар
Date Deposited:	21 Oct 2024 10:11
Last Modified:	21 Oct 2024 10:11
URI:	https://elibrary.kubg.edu.ua/id/eprint/49876

Actions (login required)

View Item