Digitalization and its role in Ukrainian enterprise activities

Abstract

This article examines the concept of digitalization and its implementation at an enterprise in order to increase its competitiveness on the market. A content analysis of the term “digitalization” was carried out. Under his own vision of the term “digitalization” is understood the process of using, systematizing, and processing incoming information in a digital format and as a result of improving customer service in the business environment. It was emphasized that these innovations are intended to facilitate and speed up work with a large amount of information, to introduce a unified system of cooperation of the enterprise with all its divisions, as well as to ensure effective and high-quality interaction with suppliers and consumers. It was determined that digital technologies at the enterprise provide its competitive advantages both in the main and in financial, operational and investment activities. It is emphasized that it is thanks to digitalization that the company is able to ensure profitability and financial stability in the face of various risks and force majeure situations in the future. About that, the development of means of communication and innovative technologies became a decisive factor for the introduction of such a term at the enterprise. The digitalization process demonstrates the implementation of digital innovations and technologies for the automation and optimization of business processes, as well as improving the communication channel between the enterprise and its consumer and as a result. The need for digital data transmission is explained by the desire to improve processes, and on the part of the company to obtain competitive advantages in the market, as well as to increase the investment attractiveness of the Ukrainian market. In the era of digital technologies, only such enterprises are able to take winning places in the market, which are able to offer such value for the consumer to fully satisfy all his needs.