Multifactor model of the development of digitalization of corporate business processes

Abstract

This article provides the results of assessing the factors that impact the cross-sectoral economic and technological effects in the development of digitalization of business processes. The goal of this work is to form a multifactor model for the development of digitalization of corporate business processes and determine the degree of impact of the factors included in this model. The author outlined and tested several hypotheses, the general idea of which is reduced to an assumption that at current stage of economic development in Russia, corporations are actually subject to the emergence of trend in the dynamically changing digital world, which requires quick and effective response to the digital development by increasing investment in digital technologies and intensifying their use in business processes. The empirical framework is comprised on the data provided by the Institute for Statistical Studies and Economics of Knowledge of the Higher School of Economics, as well as Federal State Statistics Service on the current state of digital and business activity. The author conducts a regression analysis for assessing the importance of factors included into the model.; advances and process the hypotheses on the influence of factors upon the index of digitalization and the level of corporate business activity. The acquired results serve as the evidence base for most of the advanced hypotheses, thereby proving the theoretical assumption on the existence of certain consequences of the digital business development. The built multifactor model for the development of digitalization of corporate business processes and assessment of importance of the factors included therein would allow the companies to develop proper solutions aimed at increasing the level of digitalization. The new positions directly depend on the continuous technological changes. As a result, the gap between business needs and competencies of the workforce appears to be the key challenge for the companies.