TRANSFORMATION OF FINANCIAL MANAGEMENT APPROACHES IN THE CONDITIONS OF DIGITALIZATION
Main Article Content
Abstract
Introduction. The transition to digital platforms also presents certain challenges, particularly concerning data security, changes in the roles and competencies of financial managers, and the integration of new tools into traditional management systems. Thus, the scientific problem lies in studying and adapting existing financial management models to the conditions of digitalization to determine the most effective strategies for managing financial resources in the new technological era. Such research will not only optimize financial processes but also ensure their compliance with contemporary requirements for information security and managerial transparency.
The purpose. The aim of this research is to identify the key directions of transformation in financial management processes in the context of the digitalization of the economy and to explore their developmental prospects.
Results. The article is dedicated to examining the processes of adapting existing financial management models to the conditions of digitalization, with a focus on the utilization of artificial intelligence, blockchain, and big data. The primary challenges encountered during the transition to digital platforms are analyzed, including data security issues, changes in the roles of financial managers, and the integration of cutting-edge technologies into traditional systems. Particular attention is given to strategies for optimizing financial processes that can ensure compliance with modern requirements for information security and managerial transparency.
Originality. The article improves existing approaches to formulating enterprise financial management strategies in the context of digitalization. In particular, the approaches to enhancing financial management efficiency in modern digital conditions have been further developed by generalizing strategic steps that, unlike existing approaches, are adapted to the widespread use of artificial intelligence systems, blockchain, and big data.
Conclusion. The study summarizes the main factors contributing to the reduction of financial expenses in the e-commerce sector, which, according to the authors, include: optimization of payroll costs; reduction of expenses on external and internal communications; decrease in advertising costs; and reduction of expenditures on gathering marketing information. Such summarization in the article is scientifically justified. Additionally, the authors propose the systematization of key components of the modern digital financial management system, which include: advanced open information systems; user experience management methods; Internet of Things (IoT); business analytics and data processing; and tools for creating effective ecosystems.
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