Economic and Digital Modeling of Reengineering of Financial Activities of Domestic Enterprises

Abstract

This paper presents the rationale for the use of simulation techniques, namely the Miller-Orr model. Model was based on the theory of system dynamics as a tool for re-engineering of administrative decisions by the financial flows of the company. The modified model contains adaptive mechanisms to establish the parameters that determine the optimal level of necessary funds on the account of the company. The article examines the essence of business process reengineering as a modern management concept to increase the level of product competitiveness, productivity growth, reduce production costs, improve the financial and economic results of the enterprise. The main errors that prevent the effective conduct of reengineering at domestic enterprises in the current conditions of globalization of the economy are identified and analyzed. Also, the paper highlights issues regarding the peculiarities of the formation of the business process re engineering system as a component of process-oriented management in modern organizations in the direction of ensuring accelerated successful adaptation of the latter to extreme, crisis situations, variability of the business environment.