Perspectives of process-oriented approach development in cost management under digitalization conditions

Abstract

The development of a process approach to cost management in a digital environment has great prospects. Firstly, the use of digital technologies allows for greater accuracy in cost accounting, which is particularly important for enterprises with large production volumes and numerous processes. Secondly, digitization enables the automation of many processes and reduces the human factor in cost management. Thirdly, digital technologies enable faster and more efficient data analysis and decisionmaking based on this data. One promising direction for the development of a process approach to cost management in enterprises is the use of blockchain technologies. Blockchain can provide transparency and security in storing and transmitting information about cost accounting between enterprises and their partners. This can be particularly important in areas where it is important to accurately track the origin and distribution of costs, such as in agriculture or food production. It is also worth noting that the development and use of artificial intelligence and machine learning can improve cost management processes and allow for faster and more accurate data analysis and decision-making. Overall, the development of a process approach to cost management in enterprises in a digital environment will continue, and its successful implementation will enable enterprises to optimize their costs, increase efficiency, and competitiveness in the market.