digitalization, foreign economic activity, risk management, blockchain;, Big Data, IoT, e-commerce, cybersecurity, international trade
Abstract
Digital transformation has become a decisive factor in enhancing the resilience, transparency, and competitiveness of enterprises engaged in foreign economic activity. The increasing volatility of global markets, disruptions in logistics networks, geopolitical uncertainty, and rising cyber threats intensify the need for effective risk management tools in international business. This extended abstract examines the role of digitalization as a comprehensive mechanism for reducing financial, logistical, legal, market, communication, and reputational risks that arise in the course of foreign economic operations. The study highlights how advanced financial technologies, including blockchain-based payment systems and smart contracts, help mitigate financial risks by ensuring transaction transparency, preventing fraud, and guaranteeing contract execution. The use of digital logistics solutions – such as IoT sensors, GPS tracking, RFID technologies, and predictive analytics significantly reduces delivery delays, product losses, and supply chain disruptions. Electronic document management systems, e-signatures, and LegalTech platforms strengthen contract security and eliminate inaccuracies stemming from human error or legal inconsistencies. Big Data analytics provides tools for monitoring global market dynamics, forecasting demand fluctuations, and supporting data-driven decision-making. At the same time, CRM systems, communication platforms, and project-management tools reduce misunderstandings in cross-border collaboration, while cybersecurity technologies and compliance systems protect enterprises from sanctions, data breaches, and cyberattacks. Examples from leading countries and global corporations demonstrate that digitalization not only reduces operational risks but also accelerates export and import processes, lowers transaction costs, and increases the strategic adaptability of firms. The findings underline that digital transformation is an indispensable prerequisite for successful participation in international trade under conditions of global instability.
Author Biographies
Yuliana Krasovska, National University of Water and Environmental Engineering, Rivne
Candidate of Economics (Ph.D.), Associate Professor
Oksana Podlevska, National University of Water and Environmental Engineering, Rivne
Candidate of Economics (Ph.D.), Associated Professor
Olha Stakhiv, National University of Water and Environmental Engineering, Rivne
Candidate of Economics (Ph.D.), Associated Professor
