The practice of digital transformation risk assessment of business entities in the Russian Federation

Abstract

Subject. The article discusses main practical approaches to assessing the risks of digital transformation and proposes an integrated model of risk-based approach to digital transformation that rests on key performance indicators for digital transformation risk assessment. Objectives. The aim is to perform a critical analysis of the practice of assessing the risks of digital transformation of economic entities in the Russian Federation. Methods. To perform the comparative analysis of practices of assessing the risks of digital transformation, we apply methods of analysis, comparison, and systematization of the obtained information. Results. We analyzed the practice of assessing the risks of digital transformation of business entities, developed recommendations to improve models for assessing the digital transformation risks, and offered an integrated risk assessment model. Conclusions. Given the specifics of the approach of Russian business entities to assessing the risks of digital transformation and a clear trend towards boosting the digitalization, it is advisable to apply a combined model, which includes both the assessment of the impact of digitalization measures on the economic performance of a company and qualitative risk assessment models based on the introduction of a risk-based Agile approach, embedded in the corporate culture of the company, as well as Due Diligence methods; to implement a mechanism of State support for companies, which are in the process of digital transformation.