The Role of Innovations in Business Process Modeling Amid the Digital Transformation of the Regional Economy

Authors

  • Olena Zavhorodnia Doctor of Economic Sciences, Professor of the Department of International Economics and Social-Humanitarian Disciplines of the Ukrainian State University of Science and Technologies, Dnipro, Ukraine https://orcid.org/0000-0002-6546-1356
  • Danylo Tkalenko Postgraduate Student, of the Department of International Economics and Social-Humanitarian Disciplines of the Ukrainian State University of Science and Technologies, Dnipro, Ukraine https://orcid.org/0009-0000-1720-0752
  • Volodymyr Havran PhD in Economics, Associate Professor of the Department of Management Organization of the Lviv Polytechnic National University, Lviv, Ukraine https://orcid.org/0000-0002-6833-941X

DOI:

https://doi.org/10.5281/zenodo.14221892

Keywords:

digitalization of the economy, business process optimization, regional development, economic modeling, innovative technologies

Abstract

The role of innovations in business process modeling has become one of the most critical factors in the digital transformation of regional economies. In an era when technological progress is rapidly reshaping industries and redefining economic conditions, the integration of innovative tools and approaches into business process modeling offers significant opportunities for enhancing regional competitiveness and sustainable development. Digital transformation drives changes not only at individual enterprises but also across broader regional economic systems, necessitating a rethinking of traditional modeling methodologies. The purpose of this article is to analyze the impact of innovations on business process modeling and evaluate their role in promoting economic resilience and development in the regional context. Methods: literature analysis, comparison, systematization, and generalization. The research results demonstrate that regions implementing innovative business process modeling tools experience significant improvements in operational efficiency, resource optimization, and strategic decision-making. Practical case analysis highlights instances where digital innovations reduced process costs, shortened cycle times, and increased flexibility, directly contributing to regional economic growth. For example, the application of robotic process automation (RPA) in regional logistics systems increased throughput and reduced error rates, while predictive analytics in manufacturing facilitated proactive maintenance and minimized production downtime. These findings emphasize the role of innovations as catalysts for enhancing the productivity and adaptability of regional economies. Conclusions. The study’s findings indicate the necessity of integrating innovations into business process modeling to ensure sustainable development of regional economies in the digital age. Despite significant advantages, challenges such as skill shortages, digital infrastructure gaps, and resistance to change must be addressed through targeted policies and investments.

Published

2024-11-26

How to Cite

Zavhorodnia, O., Tkalenko, D., & Havran, V. (2024). The Role of Innovations in Business Process Modeling Amid the Digital Transformation of the Regional Economy. Achievements of the Economy: Prospects and Innovations, (12). https://doi.org/10.5281/zenodo.14221892

Issue

Section

Development of productive forces and regional economy