Methodology for assessing the impact of digitalization of the economy on the sustainability of the company's development according to the criteria of profitability and liquidity

UDC 338.242

Authors

N. Yu. Surova,
Ph.D. in Economics, Professor, Director of the Institute of Management and Socio-Economic Design, Russian University of Economics. G. V. Plekhanova, Moscow, Russia
V. S. Petrov,
PhD in Economics, Professor, Vice President of the Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (RAKIB), Moscow, Russia

Abstract

Objective. The digitalization of the economy and the introduction of end-to-end digital technologies into the work of companies are becoming one of the determining factors in increasing the stability of companies and the competitiveness of their development. The most topical is the use of technologies such as neurotechnology, artificial intelligence, virtual and augmented reality technologies, quantum technologies, new production technologies, robotics, sensorics, wireless communications and blockchain to ensure the sustainability of their development. However, a general methodology for assessing the impact of digitalization of the economy on the sustainability of a company's development has not yet been proposed.
Materials and methods. In this paper, such a technique has been developed and the impact of digitalization on the sustainability of a company's development by the criterion of “liquidity-profitability” is shown.
Result. Additional management factors have been identified that affect the sustainability of the company's development in the implementation of end-to-end digital technologies and that affect the liquidity and profitability of legal entities. A significant direct relationship is shown to increase the sustainability of the development of a company engaged in the implementation of end-to-end digital technologies in its activities, five additional management factors that have a positive effect on the company's financial cycle and, as a result, increase the net profitability of its activities with a given liquidity:
1) creation of a system for the market offer of its goods and services, selected according to the criterion of maximum satisfaction of the needs of customers using digital sales channels;
2) personalization of offers by obtaining information about customers using the technology of processing all information available about customers;
3) minimization of sales prices in comparison with competitors by increasing turnover and reducing the company's financial cycle as a result of the introduction of one or more end-to-end digital technologies;
4) increasing the level of protection of all information flows from unauthorized access;
5) creating a digital ecosystem through collaboration and partnerships with contractors and customers.
Conclusion. On the basis of the identified factors, an innovative approach is proposed to optimize the parameters of liquidity and profitability of a company by the criterion of the sustainability of its development. Recommendations are given for building an econometric model of the influence of liquidity on the profitability of an organization's development based on the statistics of the development of the Russian economy from 2013 to 2018. The extremum points of the product function, dependent and independent variables of this kind of model are determined. On the basis of the developed model, possible aggressive, conservative and balanced strategies for managing the combination of profitability and liquidity are identified.

Keywords

digital economy, digitalization, sustainable development, liquidity, profitability, financial management, functional analysis.