Impact of digitalization and corporate ERP systems on financial performance of petrochemical companies
Abstract
This article is devoted to describing the results of a study of the impact of the implementation of ERP systems on the basic financial indicators of the company. To manage an empirical study, data of petrochemical Russian companies was used, since this type of business is currently the most advanced in terms of the implementation of ERP systems. Assessing the effectiveness of such implementations is of interest to managers not only of large businesses, but also of SMEs, since the implementation process requires significant financial investments and labor costs, but currently there are obstacles with the scientific substantiation of methods for this assessment. Software vendors advertise attractive numbers, usually based on implementation results, but they are interested in sales and may inflate them. In this regard, we proposed to evaluate the impact of the implementation of ERP systems on the financial performance of a company based on the Monte Carlo method, which is well adapted to operating with random variables. Variables characterizing cost savings, net profit growth and NPV value were selected as basic performance indicators. As a result of the study, the obtained data shows the probability distribution in relation to the designated variables.
About the Authors
E. Yu. Strelnik
Kazan (Volga Region) Federal University
Russian Federation
Russian Federation
PhD in Economics, Associate Professor
D. S. Usanova
Kazan (Volga Region) Federal University
Russian Federation
Russian Federation
PhD in Economics, Associate Professor
E. E. Beloglazova
Kazan (Volga Region) Federal University
Russian Federation
Russian Federation
Senior Lecturer
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Review
For citations:
Strelnik E.Yu., Usanova D.S., Beloglazova E.E. Impact of digitalization and corporate ERP systems on financial performance of petrochemical companies. Kazan economic vestnik. 2023;(3):66-71. (In Russ.)
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