The impact of modern digital and innovative tools on the efficiency of a company's strategic financial management
DOI:
https://doi.org/10.33216/1998-7927-2026-303-5-129-140Keywords:
strategic financial management, digital transformation, innovative tools, digital tools, synergistic interaction, efficiency of strategic financial management, ESG factors, company value creation, competitive advantages, adaptability, proactive management, predictive management, company resilience, risk management, financial paradigm, long-term valueAbstract
The article examines the essence, evolution, and modern content of strategic financial management in the context of the digital economy. It explores the impact of modern digital and innovative tools on the efficiency of a company's strategic financial management.
The theoretical and methodological foundations of strategic financial management have been analyzed, and its main stages and functional elements have been systematized. Particular attention is paid to the classification and characteristics of innovative tools (Agile finance, Beyond Budgeting, Shared Value Creation, ERM 4.0, EVA 2.0, Balanced Scorecard 2.0, impact investing, etc.) and digital tools (artificial intelligence, machine learning, Big Data, Blockchain, RPA, cloud technologies, RegTech, Open Banking).
The synergistic interaction between digital and innovative transformations within the functional elements and stages of strategic financial management is revealed. This synergy ensures the transition from reactive control to proactive, prescriptive management; from fragmented to comprehensively integrated approaches; from static to dynamic resource allocation; and from value protection to its active creation, while taking into account ESG factors.
The main challenges and risks of implementing digital and innovative tools are identified: cyber threats and information security risks, high financial and organizational costs of transformation, personnel shortages and cultural resistance, technical difficulties in integrating with legacy systems, regulatory, ethical, and legal risks, as well as the risk of excessive technological dependence.
It has been proven that the synergistic interaction between digital and innovative tools significantly enhances the efficiency of strategic financial management. It helps reduce the weighted average cost of capital, improve the accuracy of financial forecasts, enhance risk resilience, accelerate strategic decision-making, and create sustainable competitive advantages for companies in the digital economy.
The results confirm that, in modern conditions, the systematic integration of digital and innovative tools is a decisive factor in increasing the efficiency of strategic financial management and ensuring the long-term competitiveness of companies. The study substantiates practical recommendations for managing transformation risks and developing the necessary competencies of financial managers.
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