Global Experience of Digitalization of Economic Processes in the Context of Transformation

Abstract

Purpose: The article aims to clarify the peculiarities of the main trends, advantages, and disadvantages of digitalization of the economy in the context of reorganization processes in different countries of the world.

Theoretical framework: Today, significant competitive advantages can be achieved through the effective management of available company resources based on innovative technologies and methods of business process optimization. Due to the continuous improvement of the digital environment, they are becoming an important management tool and a key development factor.

Design/methodology/approach: When studying the issues related to the topic of this research, the analytical and bibliographic method was applied to study the scientific literature on the digitalization of economic processes. Abstraction, idealization, induction, deduction, analysis, synthesis of information, and system-structural, comparative, logical, and linguistic methods were utilized to study and process data. Moreover, the authors conducted an online questionnaire survey to clarify the most important issues related to the use of electronic means in the world economy.

Findings: The study identified the most important theoretical aspects of the issues related to the use of digital technologies in the economies of different countries of the world. Furthermore, the views of scientists and managers of companies that use electronic forms of business organization in their work on key aspects of this issue are studied.

Research, Practical & Social implications: The analysis of the scientific literature on the research topic and the results of the questionnaire survey showed that digitalization in the field of economy is the process of transferring economic activity to a new format. It involves the use of digital technologies and helps to optimize business processes, increase business income and improve the system of communication with consumers

Originality/value: The authors conducted an online questionnaire survey to clarify the most important issues related to the use of electronic means in the world economy.