Digital Transformation of Small and Medium-Sized Businesses in Ukraine: Barriers and Prospects for Implementing Modern Financial Management Systems

Abstract

The purpose of the study is to provide a scientific justification of the relationship between the implementation of modern financial management systems and the improvement of economic efficiency of small and medium-sized enterprises (SMEs) in Ukraine. The study applies systems and resource-based approaches that make it possible to consider financial systems as an integral part of organizational development. The international and domestic experience of financial digital transformation is analyzed, and the key barriers to implementing digital solutions in SMEs are identified, including limited financial resources, lack of competencies, and organizational inertia. The research is based on the synthesis of scientific sources and practical experience in the implementation and use of information systems in financial management. Special attention is paid to the relationship between the level of digital maturity of enterprises and the effectiveness of managerial decision-making in the financial domain. It is shown that during wartime and in the post-war period, there is a growing demand for transparent, integrated, and adaptive financial instruments that enhance cash flow management, reduce risks, and strengthen the financial resilience of companies. The findings indicate that the efficiency of financial system implementation directly depends on the alignment of technological, managerial, and human factors, as well as on the level of digital maturity and readiness of management for change. It is concluded that the key task at the current stage is to move from fragmented use of digital tools to the creation of integrated financial solutions that enable strategic planning, control, and real-time performance analysis, thereby improving financial indicators and overall business competitiveness.