Digitalization of Accounting in the Context of Business Competitiveness

(Pages 2538-2549)

Svitlana Stender1,*, Olena Lagovska2, Nataliia Roshko3, Andrii Soloshchak4 and Olesia Lemishovska4
1Department of Accounting, Taxation and Electronic Business Technologies, Institution of higher education "Podilskyi State University" Educational and Scientific Institute of Business and Finance, Khmelnytskyi region Kamianets-Podilskyi, Ukraine.
2Department of Information Systems in Management and Accounting, Zhytomyr Polytechnic State University, Zhytomyr, Ukraine.
3Department of Accounting and Finance, Faculty Information Technologies and Economics, Private Higher Educational Institution "Bukovinian University", Chernivtsi, Ukraine.
4Department of Accounting and Analysis, Institute of Economics and Management, Lviv Politechnic National University, Lviv, Ukraine.


Aims: The purpose of the article is to determine the optimal nomenclature of digital tools to increase the competitiveness of business community members through digital optimization of accounting processes. Methodology: To achieve this goal, the following methods were used: formation and analysis of expert opinion, rating analysis of digital solutions, structural analysis with the development of a scheme for the implementation of relevant digital solutions, modelling of the likely consequences of the impact of digitalization on the accounting system and the competitiveness of business organizations. Results: The current study has revealed that the digitalization of accounting processes is a powerful tool for increasing the competitiveness of enterprises. In particular, among the various digital solutions, Cloud-based accounting has been singled out as the highest rated in the context of business improvement. The study also allowed us to determine the structure of digitalization development vectors, such as the integrated system vector, automation vector, analytics vector, analytical automation vector, and security vector, which contribute to the competitiveness of business organizations. Scientific Novelty: At the current stage of development of the business environment, it is almost impossible to achieve sustainable development and competitiveness of business organizations without an optimal digitalization strategy. One of the main business structures that requires urgent digital transformation is the field of accounting and auditing. The digital optimization of accounting and auditing processes has a direct impact on the economic success and competitiveness of a business. Conclusion: The results of the study are of significant value to investors, as they provide them with an objective assessment of the prospects for investing in digital technologies in accounting and auditing processes. The optimal nomenclature of digital solutions, in particular the emphasized high rating of Cloud-based accounting, gives investors a clear idea of the technologies that have high potential in the business environment. Recommendations on the structure of digitalization development vectors are also of great importance for investors, as they allow them to focus on the areas that can most improve efficiency and ensure the success of the enterprise. Investors can focus their investments on key aspects, such as automation, analytics, and security, which will help to implement successful digital solutions and increase competitiveness.


Optimal nomenclature, digital solutions, digital strategy, expert environment, business community, Cloud-based accounting, investment focus, Accounting 4.0.

JEL Classification:

M41, M42, O13.

How to Cite:

Svitlana Stender, Olena Lagovska, Nataliia Roshko, Andrii Soloshchak and Olesia Lemishovska. Digitalization of Accounting in the Context of Business Competitiveness. [ref]: vol.21.2023. available at:

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