THE DIGITAL TRANSFORMATION AND ITS IMPACT ON SMALL AND MEDIUM-SIZED ENTERPRISES

Abstract

The present article examines the essence of digital transformation and the opportunities and changes associated with the application of technologies in small and medium-sized enterprises (SME’s). An overview is provided to the existing digital tools and technology, like social, mobile, big data, analytics and cloud, that SMEs are adopting in the process of transforming their business operations. The paper explores the building blocks of a digital transformation journey and overlooks the planning and implantation stages of digital technology. A literature review was carried out to gain more extensive understanding of the essence of digital transformation and its impact on SMEs. In fact, the article pays special attention to the digital transformation process in SMEs.