Influence of Digital Technology Research Paper

Influence of Digital Technology Research Paper

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Influence of Digital Technology Research Paper

Influence of Digital Technology on Roadmap Development for Digital Business Transformation

Abstract

In a highly competitive information economy, business structures require continuous introduction of innovation, effective information technology to ensure sustainable long-term market benefits, as well as their rational functioning. The implementation of the digital business model is one of the promising areas, which makes it possible to realize the activity of enterprises even more productively.

The digital business model allows businesses to react more responsibly to the needs of potential buyers and customers, and also helps adapt and optimize business processes over a certain period of time to certain market conditions. That is why, the purpose of the article is to identify the peculiarities of the influence of digital technology on the transformation of existing business models of organizations.

In view of this, an in-depth analysis of the main stages of the development of a roadmap for the digital transformation of business has been carried out; business process management software products and the most suitable ones have been examined.

The article studies digital technologies in the context of enterprise business groups and reflects how relevant technologies affect the transformation of the existing linear business model into the digital business model and reflects the most significant effects for business.

Keywords information technology, digital economy, digital technologies, information management system, digital business model, business processes, BPM, business process management, CRM, ERP.

1. INTRODUCTION In this digital era, the pace of change is extremely

frustrating and each organization encounters existential threats from new and existing competitors. In the era of the Industrial Revolution 4.0, technology is the right of any company to change its own business model so as to differentiate itself from the entire world market.

The competitiveness of business structures is shaped by the use of digital technologies, the application of the information management system, reengineering and the transformation of existing business processes into new digital business models.

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Digitalization is the use of digital technologies to change the business model and provide new revenue and value- producing opportunities; it is the process of moving to a digital business [1-7].

The problem of the development of the digital economy and the transformational processes taking place in society under the influence of digitization has received a lot of attention among both foreign authors [1-2, 10-12] and Ukrainian researchers [3, 5-6], etc.

Fig. 1. The evolution Digital Business Development Path (Source: Author’s interpretation based on: Gartner)

Despite numerous scientific studies on the development of information and communication technologies and the digital economy, we consider that the issues of the impact of digital technology on the transformation of existing business models of the organization are insufficiently examined.

1. PROBLEM ANALYSIS AND MARKET TRENDS On the one hand, in the market of information

technologies and services, there are already a lot of software products (world and domestic) that are largely able to fill the gaps in information technology companies. Domestic business is in search of suitable technologies for business automation, is familiar with the best European and world practices of digital transformation.

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The development of information technology (systems) of management for a particular business is a project for the development of a roadmap for the digital transformation of business. This is a very important project that requires significant financial support, highly trained specialists and knowledge-intensive technology, knowledge in many areas, namely, project management, digital development management and others (fig. 2).

Fig. 2. Relationships Computer Science, Information Systems with Business World

Before deciding on the use of any information technology in business, it is necessary to analyze the current business model (fig. 3) and the business processes of the organization, to understand the problems that are encountered by the relevant stakeholders, and only then integrate into the digital transformation.

Fig. 3. Elements of the business model canvas (Source: Author’s interpretation based on: Osterwalder, 2010)

In general, modern business solves the triple strategic task for strengthening their competitive positions:

First, it is necessary to establish closer relations with suppliers and clients (the sector of work with clients, increase sales);

Second, to increase the level of own operational efficiency (the sector of effective operational activity of the organization);

Third, to increase the competitiveness of products produced (consolidation of certain sectors of the business model).

The fulfilment of all these tasks is impossible without the integration of information systems and technologies into the business sphere.

We offer to consider achievement of these three tasks through the prism of business processes of the organization using certain information technologies (digital instruments) (Table 1).

Influence of Digital Technology Research Paper

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