THE INFLUENCE OF THE DIGITAL ECONOMY ON THE TRANSFORMATION OF BUSINESS PROCESS MANAGEMENT

Abstract

The transition of business process management is greatly impacted by the digital economy, which encompasses a wide range of activities and alters conventional company models. With the advent of new technologies like blockchain, big data, cloud computing, and artificial intelligence, businesses may enhance consumer engagement, expedite decision-making, and optimize operations. The study focuses on analyzing how business process management has changed in the context of digitalization and identifying the critical elements that help firms successfully adjust to the demands of the market.

The topic's relevance stems from the speed at which digital technologies are developing and how they affect every facet of business administration. Businesses must modernize procedures, boost flexibility, and implement creative solutions in the context of digital transformation in order to gain a competitive edge. For firms to be managed effectively, it is becoming more and more crucial to comprehend how the digital economy is altering commercial procedures.

The research is innovative because it takes a comprehensive approach to examining how digital technologies are changing business process management, with an emphasis on incorporating new tools into established management frameworks. Consideration is given to the particulars of integrating digital technologies into different business domains, including automation, digital analytics, and cloud services, as well as how these technologies affect the speed and precision of managerial decision-making