DIGITAL TRANSFORMATION IN INDUSTRY: BENEFITS, COSTS AND RISKS

Abstract

In the context of digital economy, as it tends to toughen the competition and present new opportunities and methods for business optimization, a growing number of industrial companies set up digital transformation projects. The main goal of the article is to review and systematize the potential benefits, costs and risks of digital transformation for companies from the point of informational approach. In addition, the study proves the significance of further research in the area of digital transformation of enterprises and presents the comparison of digital transformation costs with other investment costs. In order to meet the goals of research, the methods of scientific and applied literature review systematization, comparison and synthesis have been used. The authors have generalized the existing views on the benefits of digital projects implementation, identifying three common groups among them. Based on results of quantitative analysis of the research, the authors have noted the growing interest of scientific community, including in Russia, in digital transformation area. Furthermore, most common digitization costs of Russian companies (especially, industrial ones) have been highlighted, and the interrelation with investment costs has been stated. The authors have made a conclusion on the prevailing nature of infrastructural digital costs. Besides, the assumptions for the future increase in digital costs have been explained. In conclusion, the most common risks of digital transformation projects have been reviewed. Finally, the authors have underlined the importance of setting up efficient cost and risk management system for digital transformation projects in advance that proves the value of the research for both business and scientific circles.