Evaluating Business Efficiency: The Role of Digital Transfor-mation in Modern Enterprises

Abstract

Digital transformation, renowned for its capacity to stimulate economic expansion and enhance business landscapes, requires a supportive ecosystem comprising universal digital infrastructure, skilled workforce, appropriate legal frameworks, adequate investment, effective governance, educational initiatives, robust security measures, and other conducive environments. This transformation presents governments with strategic opportunities to shape various economic sectors, encompassing finance, retail, healthcare, agriculture, manufacturing, education, tourism, media, and culture. Existing literature extensively investi-gates digital transformation in academic and practical spheres, yet a consensus on its fundamental principles remains elusive. This study contributes by summarizing the effects of digital technologies on business and management, stressing the need to broaden existing business domains and explore novel areas. Advocating for pro-social objectives, sustainable business mod-els, and widespread adoption of artificial intelligence (AI) are suggested strategies for navigating digital transformation. Fur-thermore, the research scrutinizes the concept of digital disruption, focusing on how emerging digital technologies and inno-vative business models reshape established value propositions. Business process management (BPM) is examined for its role in facilitating these changes, despite historical challenges in terminology and methodological coherence. The study un-derscores the importance of a structured approach to change management, advocating for flexibility and real-time decision-making to address complex business activities. Additionally, the research evaluates the performance of multiple companies using key performance indicators such as customer satisfaction, operational efficiency, employee productivity, and IT infra-structure cost reduction. Employing the Weighted Sum Method (WSM) to rank these companies, the study offers insights in-to their relative performance. These findings aim to guide stakeholders in strategic decision-making by providing a holistic assessment of company performance across various dimensions, identifying areas for potential enhancement, and deepening understanding of digital transformation's ramifications.