ACCOUNTING AND ANALYTICAL SUPPORT OF BUSINESS PROCESSES IN CONDITIONS OF ECONOMIC INSTABILITY: KEY ASPECTS
Abstract
The instability of the business environment at the current stage causes significant challenges for all groups of stakeholders, in particular, business. In this context, a special problem arises in the field of ensuring the adequate functioning of companies in conditions of significant exogenous and endogenous challenges. The purpose of the article is to identify the features of the accounting and analytical base of the management of the company's operational processes in the conditions of growing economic instability at the micro- and macro-level from the point of view of the functioning of the corporate sector. The article examines the essence of accounting and analytical support of the company's business processes in the light of growing changes in the business environment. The key role of an informed and transparent methodical approach to business management in terms of business processes is defined. The main trends in the development of accounting and analytical support for business processes in the conditions of growing volatility in the working environment of companies focused on increasing operational efficiency and business profitability are considered. The rapid forecast development of the market of solutions for accounting and analytical support of business processes in the world was noted. In the framework of strengthening the information and analytical support of business processes, a toolkit in the format of a system of key performance indicators (KPI) is proposed. A KPI system was formed from 7 indicators of operational and strategic direction, designed to strengthen the effectiveness of business process changes from the point of view of their analytical basis. A promising direction of research in this field is the analysis of the context of digitalization (blockchain technologies and artificial intelligence) from the point of view of the development of accounting and analytical support for business processes.
References
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Research ‘TCS. Deutschland Lernt KI. Wie Unternehmen digitale Technologies einsetzen’ of the research company Bitkom Research. 2022. URL: https://www.bitkom-research.de/sites/default/files/Trendstudie_TCS_2020_Bericht_DE.pdf
Research ‘The need for more sophisticated business process management’ of consulting company HYPERION.GP. URL: https://insights.hgpresearch.com/need-sophisticated-business-process-management
Ghandour D. Analytical Review of the Current and Future Directions of Management Accounting and Control Systems. European Journal of Accounting, Auditing and Finance Research. 2021. № 9(3). P. 42–73.
Shurpenkova R., Sarahman O. Management accounting as an effective tool of management of a modern enterprise. Współczesne Problemy Zarządzania. 2021. № 9(18). P. 53–58.
Göktürk I., Iyibildiren M. Reviewing of the Relationship between Management Accounting Applications and Accounting Department and Its Employees in Production Enterprises. SSRG International Journal of Economics and Management Studies. 2020. № 7(12). P. 35–42.
Almatarneh Z., Jarah B., Jarrah M. The role of management accounting in the development of supply chain performance in logistics manufacturing companies. Uncertain Supply Chain Management. 2022. № 10(1). P. 13–18.
Doktoralina C., Apollo A. The contribution of strategic management accounting in supply chain outcomes and logistic firm profitability. Uncertain Supply Chain Management. 2019. № 7(2). P. 145–156.
Jarah B.A.F., Almatarneh Z. The effect of the elements of accounting information system (AIS) on organizational culture (OC)-A field study. Academy of Strategic Management Journal. 2021. № 20. P. 1–10.
Dhameeth G.S., Diasz L. The Role of Managerial Accountants and the Implementation and Monitoring of the Balanced Scorecard Metrics: A Literature Review. Research in Economics and Management. 2021. № 6(2). P. 28–40.
Vu H.T., Ha N.M. Study on the relationship between diversification and firm performance using the GSEM Method. Emerging Markets Finance & Trade. 2021. № 57(1). P. 85–107.
Aleksin G. Company Financial Strategy`s Instituonalization: Theoretical Aspects. Scientific Bulletin of National Academy of Statistics, Accounting and Audit – Naukovyy visnyk Natsionalnoi akademiyi statystyky, obliku ta audytu. 2022. № 3-4. P. 79–93.
Soysa I.B., Jayamaha N.P., Grigg N.P. Validating the balanced scorecard framework for nonprofit organizations: An empirical study involving Australasian healthcare. Total Quality Management & Business Excellence. 2019. № 30(9/10). P. 1005–1025.
Дослідження «Business Process Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028» консультаційно-аналітична платформи Research and Markets. 2022. URL: https://www.researchandmarkets.com/reports/5769079/business-process-management-market-global
Дослідження «TCS. Deutschland Lernt KI. Wie Unternehmen digitale Technologien einsetzen» дослідницької компанії Bitkom Research. 2022. URL: https://www.bitkom-research.de/sites/default/files/Trendstudie_TCS_2020_Bericht_DE.pdf
Дослідження «The need for more sophisticated business process management» консалтингової компанії HYPERION.GP. URL: https://insights.hgpresearch.com/need-sophisticated-business-process-management
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