Reduction of transaction costs in the process of business informatization

Abstract

The purpose of the article is to analyze the change of transaction costs in the context of business informatization. Business informatization is accompanied by the speed of information exchange and an increase in the volume of processed information. This changes the transaction costs associated with the information search, storage, transfer, and protection. The methodology of finding ways to reduce transaction costs includes several steps. First, it is necessary to classify the transaction costs that an organization faces. Second, to analyze the level of informatization of business. Third, to analyze the impact of information technologies on the performance of the company. Fourth, it is necessary to track the relationship between transaction costs and the level of business informatization. The use of this method has led to the following conclusions. Increasing the volume of processed information makes it urgent to use information technologies. The use of information technology allows to optimize information flows within and outside your organization. In addition, the introduction of information systems in the activities of organizations increases the reliability of information used for management decision-making. Increasing the level of reliability of information, in turn, reduces the transaction costs of the company, reducing the probability of errors and risks in the management of the organization. The results of the study make it possible to draw the following conclusions. The introduction of modern information technologies in the activities of organizations leads to reduced transaction costs due to increased reliability of the information database, as well as due to increased transparency of information flows of the organization. This allows to optimize the process of making management decisions in conditions of uncertainty, reduce the cost of doing business and eventually increase the efficiency of the organization.