Cost management of agricultural enterprises in the context of digital transformations

Iegor Biriukov, Olga Garafonova and Veronika Khudolei
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Iegor Biriukov: Higher Educational Institution "Academician Yuriy Bugay International Scientific and technical university"
Olga Garafonova: Vadym Hetman Kyiv National Economic University
Veronika Khudolei: Higher Educational Institution "Academician Yuriy Bugay International Scientific and technical university"

Economic Synergy, 2023, issue 2, 48-61

Abstract: The aim of this article is to develop specific recommendations and practical advice for implementing digital cost management tools in agricultural enterprises. The research focuses on identifying optimal approaches to integrating digital technologies and analyzing their impact on cost management processes, providing actionable recommendations for their practical application. The article investigates cost management in agricultural enterprises amidst digital transformations. Considering the rapid development of digital technologies and their influence on the agricultural sector, the authors analyze contemporary methods and strategies for cost management, enabling enterprises to efficiently utilize resources and reduce expenses. The article sheds light on key aspects of digital transformation in the agricultural sector and explores new opportunities it presents for cost management. The authors emphasize the importance of implementing digital solutions in cost planning, monitoring, and analysis processes, while describing specific tools and software that facilitate these endeavors. In particular, the article examines the use of digital cost management systems, automation of accounting processes, adoption of electronic payments and document management. Additionally, it addresses cybersecurity and information protection concerns during digital transformations. The article provides practical recommendations for agricultural enterprises to effectively adopt digital technologies in cost management. The research findings aim to assist agricultural enterprises in enhancing their competitiveness, reducing expenses, and improving financial resource management. This study addresses the pressing need for practical recommendations in cost management. It can assist agricultural enterprises in making informed decisions and achieving cost optimization, directly impacting their financial well-being and performance. Furthermore, it facilitates the practical implementation of digital cost management technologies in the agricultural sector, contributing to overall efficiency.

Keywords: Keywords: costs; management; agricultural enterprises; digitization; digitalization. (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:bja:isteus:y:2023:i:2:p:48-61

DOI: 10.53920/ES-2023-2-4

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