The impact of accounting digitization on the competitiveness of Ukrainian business

Анотація

Introduction. Digital technologies are now crucial for business success across industries. In accounting, these tools are revolutionizing financial data processing and analysis, making technology integration essential for maintaining competitiveness in today’s market. Purpose. The purpose of this article is to analyze modern digital technologies and their potential to enhance the competitiveness of Ukrainian enterprises through their integration into accounting processes. Methodology. The article reviews the literature on accounting digitization and current trends in digital technology. It incorporates data from Ukraine’s Ministry of Digital Transformation and the UNDP’s Business Activity Index to explore the challenges businesses face amid the ongoing martial law. Main research findings. Accounting digitization is crucial for enhancing operational efficiency and accuracy. Transitioning to digital systems automates and simplifies financial processes. However, digital adoption varies across Ukraine, and UBI data shows that many businesses face significant growth challenges due to the ongoing conflict. Conclusions. The adoption of digital technologies in accounting is a powerful tool for enhancing business efficiency and competitiveness. Innovations are crucial in Ukraine, where businesses face uncertainty due to the ongoing war. Accounting digitalization allows firms to respond quickly to market changes and better manage resources. Future research directions. Future research should focus on the role of accounting digitization in Ukraine’s post-war reconstruction. As businesses rebuild, digital technologies will be essential for driving economic recovery.

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