DIGITAL TRANSFORMATION OF COMPANIES: ESSENCE AND EMPIRICAL ASSESSMENT OF IMPACT ON EFFICIENCY

Abstract

In the context of the fourth industrial revolution and the development of digital technologies, their implementation in all areas of the economy has become a necessity. Currently, digital transformation as a set of measures to modernize the company's internal processes is becoming a key element on a highly competitive market and it is one of the few ways to survive. The current economic crisis caused by the coronavirus pandemic has sharply demonstrated the need for digital transformation of business. In this regard, the problem of successful digital transformation has become a key issue for almost all companies in various sectors of the economy. The purpose of this study is to determine the impact of the digital transformation process of the business on its effectiveness. The theoretical analysis of the digital transformation process was used as a methodological basis. On the basis of statistical data and digital strategies of companies, an analysis of the reasons for the success and failure of such strategies implementation, as well as a correlation analysis of the main indicators of the company's performance and the process of its digitalization, is carried out. In the course of the study, the essence of the concept of company digital transformation is established, the key features of this process are identified and generalized, the main prerequisites for digital changes and their results are determined by the example of large multinational corporations – representatives of various sectors of the economy.