PROBLEMS OF DIGITALIZATION OF BUSINESS SUBJECTS

Abstract

The modern world is constantly changing, and one of the fundamental driving forces is the development of digital technologies. Digital processes are gaining enormous scale and impacting society at various levels, with a particularly noticeable impact on global political and economic processes. Digital technologies play an increasingly important role in production processes. Digital transformation is implementing digital technologies to transform services or business. This is achieved by replacing manual processes with digital ones or replacing outdated ones with updated digital technologies.Digital tools such as social, mobile, analytics and cloud technologies drive digitization and offer opportunities to change the way business entities operate.The digital approach is a new business philosophy that predicts the presence and constant development of feedback between  the subjects of business relations regarding the development of the economy. Its driving force is innovative technologies.The necessity and expediency of using digital technologies as a basis for operational management of the activities of business entities and the problems they face is confirmed by the experience of both Ukrainian and world economies.Managerial implications in finance today are focused on the fintech sector. The rapid development of technology has had a significant impact on traditional financing, not only creating new opportunities for business (crowdfunding, crowdlending, digital money), but also generating a large number of uncontrolled financial risks. Digitization is the future of both global and Ukrainian business. Despite the increasing adoption of digital technologies and the general awareness among respondents of the possibilities of their use for marketing purposes, financial management and customer relationship management, some organizational problems still limit their current use.