How Banks Leverage Digital Transformation to Mitigate Deposit Outflows Driven by P2P Lending Platforms

PurposeIn the context of the digital economy, information technology (IT) investment has become a necessary way for enterprises to transform digitally. However, why and how IT investment can enhance digital transformation is lacking in the literature. Based on the resource-based view (RBV), this study explored the impact mechanism of IT infrastructure on the digital transformation of enterprises from the perspective of the digital transformation strategy. Further, this study examined the moderating role of top management on the relationships between IT infrastructure and digital transformation strategy and between digital transformation strategy and enterprise's digital transformation.Design/methodology/approachThrough a questionnaire survey of Chinese enterprises, 180 sample data were collected, and the partial least squares-structural equation modeling (PLS-SEM) method was used to test the hypothesis.FindingsDigital transformation strategy fully mediates the relationship between IT infrastructure and enterprise digital transformation. Furthermore, top management has a significant positive moderating effect on the relationship between IT infrastructure and digital transformation strategy, as well as the relationship between digital transformation strategy and digital transformation.Originality/valueThis study explores the moderating role of top management in the relationship between IT and enterprise performance, as well as the mediating role of digital transformation strategy in the relationship between IT infrastructure investment and digital transformation performance. As a result, the study adds significantly to the body of knowledge on IT business value, digital transformation and strategic management. The authors' findings can help update managers' perceptions of IT value and provide theoretical guidance on deriving digital transformation performance from IT infrastructure investments.

In today’s rapidly evolving business landscape, digital transformation has become a strategic imperative for growth enterprises seeking to enhance operational efficiency, improve customer experiences, and drive innovation. However, the successful execution of digital transformation initiatives hinges on the alignment between Information Technology (IT) and business objectives. This alignment ensures that technological investments directly support organizational goals and contribute to sustainable growth. Despite the significant attention given to digital transformation, there remains a gap in understanding the best practices and frameworks for achieving optimal IT-business alignment in growing enterprises. This explores recent advances in digital transformation strategies, with a focus on the role of IT-business alignment in driving business success. It examines the emerging trends in aligning IT initiatives with business goals, including agile methodologies, cloud adoption, data-driven decision-making, and the integration of Artificial Intelligence (AI) and Internet of Things (IoT) technologies. By reviewing case studies of growth enterprises, this highlights the critical factors that contribute to successful IT-business alignment, such as leadership commitment, cross-functional collaboration, and continuous adaptation to market changes. Additionally, this delves into the challenges faced by enterprises in achieving seamless integration between IT and business strategies, including resource constraints, organizational silos, and the complexity of managing legacy systems alongside new digital tools. The findings underscore the importance of a dynamic approach to alignment that evolves with technological advancements and business priorities. Ultimately, this research provides valuable insights for growth enterprises looking to refine their digital transformation strategies. It offers actionable recommendations on fostering stronger IT-business alignment, emphasizing its pivotal role in ensuring the long-term success of digital initiatives and driving competitive advantage in an increasingly digital world.

PurposeThis study conceptualizes the digital transformation (DT) strategy in a supply chain context, identifies its drivers from intra- and inter-organizational perspectives and examines the effect of the DT strategy on the strategic agility and financial performance of Chinese manufacturing firms.Design/methodology/approachThe authors constructed a theoretical model by synthesizing the diffusion of innovation and organizational information processing theory (OIPT) and provided a set of hypotheses. The authors empirically tested the arguments using partial least squares structural equation modeling using data from a sample of 200 manufacturing firms in China.FindingsThe findings indicate that while supply chain connectivity positively affects DT adoption and DT routinization, data analytics capability and organizational learning positively influence DT adoption but not DT routinization. The mediation analysis also shows that DT strategy has significant direct effects on financial performance and a stronger indirect influence on financial performance via improved strategic agility.Research limitations/implicationsThis study responds to repeated calls for a new understanding of supply chain DT strategy. In addition, the study offers important contributions to the literature by identifying the potential discord between the existing DT strategy and the supply chain context and proposes a new framework that provides essential theoretical underpinnings.Originality/valueThis study enriches the literature by conceptualizing and validating the dimensions, driving factors and performance implications of DT strategy in strategic supply chain management.

The paper aims to analyze the digital transformation process’s defining elements in the COVID-19 crisis. Starting from our main objective, which consists of a critical analysis of the defining elements of the digital transformation process in the conditions of the COVID-19 crisis, we formulate the following specific objectives: to analyze the contribution of external organizational factors to put into practice the new opportunities created by the organization’s digital transformation; to evaluate the impact of digital competencies on the digital transformation of organizations; and to analyze the role of new technologies in developing digital competencies. We used the partial least squares structural equation modeling (PLS-SEM) and the bootstrapped method to evaluate the model fit, and the model was tested by SmartPLS4 software. Our research is based on information from 203 employees with authority for decision making about the digital transformation strategy in their organizations undergoing a digital transformation process. Our findings revealed that organizations, regardless of size, profile, or field of activity, are affected by changes induced by new technologies and the crisis generated by COVID-19. Therefore, formulating a digital transformation strategy must aim to minimize the risks of obsolescence and maximize the results from exploiting new digital resources. However, our results do not prove that COVID-19 crises directly and positively influence the development of digital competencies. This leads us to conclude that developing these competencies is a continuous process unaffected by disruptive factors such as crises. Instead, the development of digital competencies is influenced by new technologies. Therefore, the COVID-19 crisis directly and positively influences organizations’ developing and implementing a digital transformation strategy and new technologies. The theoretical contribution of our research consists of an explanation of the role of perturbator factors, such as the crisis generated by COVID-19, in developing digital competencies and improving digital transformation. The practical contributions are dedicated to managers that should have a different approach to the negative phenomena that will be considered catalytic factors of the digital transformation and disruptive factors of the organizational climate.

In the context of rapid digital transformation, artificial intelligence (AI) technologies implementation is becoming crucial for e-commerce competitiveness. According to Eurostat, in 2024, 13.48% of EU enterprises use AI technologies, showing growth from 8.0% in 2023. Given Ukraine's European integration aspirations, there is a need to study and adapt EU experience in implementing AI in e-commerce. The research aim is to analyze transformation processes in e-commerce systems under AI technologies influence, study EU experience, and identify development directions for Ukraine. Methodology is based on a systematic approach combining: analysis of relationships between e-commerce components, statistical analysis of quantitative data, comparative analysis of EU and Ukraine indicators, and economic modeling to assess AI implementation effects. Analysis revealed differentiation in AI implementation across the EU by enterprise size (from 11.21% for small to 41.17% for large companies) and countries (leaders - Denmark (27.58%), Sweden (25.09%), Belgium (24.71%)). In Ukraine, AI implementation is 6.9%. Priority areas identified: text processing (26.9%), speech generation (21.2%), and speech recognition (18.7%). Recommendations for phased AI implementation were developed considering enterprise size and industry specifics, with three implementation horizons and differentiated approach. The recommendations can be used for e-commerce enterprises' digital transformation strategies and state support programs. The proposed adaptation mechanisms optimize AI implementation and enhance Ukrainian enterprises' competitiveness. Further research will focus on industry-specific AI implementation strategies and their economic efficiency evaluation in European integration context.

In recent years, firms in almost all industries have conducted a number of initiatives to explore new digital technologies and to exploit their benefits. This frequently involves transformations of key business operations and affects products and processes, as well as organizational structures and management concepts. Companies need to establish management practices to govern these complex transformations. An important approach is to formulate a digital transformation strategy that serves as a central concept to integrate the entire coordination, prioritization, and implementation of digital transformations within a firm. The exploitation and integration of digital technologies often affect large parts of companies and even go beyond their borders, by impacting products, business processes, sales channels, and supply chains. Potential benefits of digitization are manifold and include increases in sales or productivity, innovations in value creation, as well as novel forms of interaction with customers, among others. As a result, entire business models can be reshaped or replaced (Downes and Nunes 2013). Owing to this wide scope and the far-reaching consequences, digital transformation strategies seek to coordinate and prioritize the many independent threads of digital transformation. To account for their company-spanning characteristics, digital transformation strategies cut across other business strategies and should be aligned with them (Fig. 1). While there are various concepts of IT strategies (Teubner 2013), these mostly define the current and the future operational activities, the necessary application systems and infrastructures, and the adequate organizational and financial framework for providing IT to carry out business operations within a company. Hence, IT strategies usually focus on the management of the IT infrastructure within a firm, with rather limited impact on driving innovations in business development. To some degree, this restricts the product-centric and customer-centric opportunities that arise from new digital technologies, which often cross firms’ borders. Further, IT strategies present systemcentric road maps to the future uses of technologies in a firm, but they do not necessarily account for the transformation of products, processes, and structural aspects that go along with the integration of technologies. Digital transformation strategies take on a different perspective and pursue different goals. Coming from a business-centric perspective, these strategies focus on the transformation of products, processes, and organizational aspects owing to new technologies. Their scope is more broadly designed and explicitly includes digital activities at the interface with or fully on the side of customers, such as Accepted after one revision by Prof. Dr. Sinz.

Digital transformation is now widely discussed and applied in different enterprises and under various organizational aspects. Traditional industries recognize the need to innovate and digitalize their business processes and models. Among these industries, the railway sector presents a vast space for digital transformation. The railway has several operational, regulatory, regional and technological specificities that must be taken into account in the digitalization processes. Given the multiple aspects involved and the transdisciplinarity, the digital transformation strategy and roadmap of companies must be defined in a way that fits it to the corporate strategy, allowing digital transformation program to be implemented effectively, prioritizing internal sectors with the greatest strategic impact, generating greater productivity, business models improvement, security and, above all, competitiveness for the sector. This research aims to propose a model for the definition of the digital transformation strategy in the railway companies using the Balanced Scorecard (BSC) as a tool for strategic organizational analysis and multi-criteria decision-making (MCDM) to define the drivers for digital transformation in the railway. Finally, to demonstrate the proposal, a case study will be carried out at a Brazilian railway company.

A legújabb ipari forradalom jelentősen átalakítja az üzleti világot és sok vállalatot digitális transzformációra ösztönöz. A digitális transzformáció során a vállalat a szervezeti működés több területén (pl. stratégia, szervezet, technológia) változtat azért, hogy azok a digitális megoldások vállalati intézményesítését támogassák. A szakirodalom alapján kijelenthető, hogy a vezetői stílus kulcsfontosságú tényező a vállalatok transzformációs törekvéseiben. A szerzők kutatásukban azt vizsgálják, hogy a vezetői stílusok milyen hatással vannak a digitális transzformációra. Elemzésükhöz 94 feldolgozóipari vállalat adatait használták fel, amelyek a Versenyképesség Kutató Központ kérdőíves felméréséből származnak. A feladatorientált és kapcsolatorientált vezetői stílusok jellemzői keverten jelennek meg: az egyik feltárt stílus a célokra és megvalósításra fókuszál, a másik a teljesítményre és emberre. A digitális transzformáció szintén két pillérre épül: a digitális transzformációs stratégia mellett a digitális transzformációs tevékenységekre. Fő megállapításuk, hogy a digitális transzformációs stratégiára mindkét vezetői stílus szignifikáns pozitív hatással van. A digitális transzformációs tevékenységekre azonban csak a célokra és megvalósításra fókuszáló stílus hat pozitívan.

This study provides a comprehensive bibliometric analysis of scholarly research examining the relationship between the Internet of Things (IoT) and competitive advantage within the context of digital business strategy. Drawing on publications indexed in the Scopus database from 2010 to 2025, the study applies bibliometric techniques using VOSviewer to map the intellectual structure, thematic evolution, and collaboration patterns in this rapidly growing research domain. The analysis includes keyword co-occurrence, co-citation, co-authorship, and country-level collaboration networks to identify dominant research themes, influential contributions, and emerging trends. The findings reveal that digital transformation, competition, and business strategy constitute the core conceptual anchors of IoT-related research, indicating that IoT is increasingly framed as a strategic capability rather than a purely technological tool. Enabling technologies such as artificial intelligence, data analytics, cloud computing, and blockchain are shown to play a critical role in reinforcing IoT-driven competitive advantage. In addition, emerging themes related to sustainability and cybersecurity highlight a shift toward more holistic and responsible digital business strategies. This study contributes to the literature by synthesizing fragmented research streams and offering a structured overview of how IoT supports strategic value creation. The results provide valuable insights for academics and practitioners seeking to understand the strategic implications of IoT adoption in an increasingly digital and competitive business environment.⁠

Small and Medium Enterprises (SMEs) in Tangerang, Indonesia, significantly contribute to economic development but face barriers in adopting digital technologies, such as limited resources, lack of digital skills, and organizational resistance. Digital transformation, encompassing cloud computing, digital marketing, automation, and data analytics, is increasingly recognized as essential for business growth and efficiency. The primary objective of this study is to examine the impact of digital transformation strategies on operational efficiency, customer engagement, and overall performance in SMEs. Using a quantitative research approach, Partial Least Squares Structural Equation Modeling (SmartPLS) was applied to analyze data from 150 SMEs in Tangerang. The research measured the relationship between digital transformation strategies and key performance indicators. The results indicate that cloud computing and data analytics significantly improve operational efficiency by streamlining processes and enabling data-driven decision-making. Meanwhile, digital marketing and automation enhance customer engagement and market competitiveness, with SMEs showing stronger customer relationships and improved market positions. This study highlights the importance of adopting digital transformation to enhance SME business management and achieve sustainable growth. It offers practical insights for managers and policymakers and encourages future research on the long-term effects of digital transformation on SME resilience and innovation.

Objectives/Scope: Please list the objectives and/or scope of the proposed paper. (25–75 words) The intent of this paper is to recognize and address the challenges that downstream companies face across their value chain including a history of having siloed businesses processes that have created ‘value leaks’. We propose an unified operations management approach that orchestrates all activities across the value chain as part of an enterprise digital transformation strategy. Business process can be deeply transformed when operations, supply chain and process optimization are connected in a collaborative environment. Methods, Procedures, Process: Briefly explain your overall approach, including your methods, procedures and process. (75–100 words) Refineries are at different stages in their digital transformation journey and have built their business workflows over many years across multiple point solutions. We propose a digital transformation strategy for operations across five key characteristics, that is: Results, Observations, Conclusions: Please describe the results, observations and conclusions of the proposed paper. (100–200 words) Across a refinery's value chain there are significant benefits that can be realized by approaching digital transformation across their operations enabling end-to-end value chain optimization including: Novel/Additive Information: Please explain how this paper will present novel (new) or additive information to the existing body of literature that can be of benefit to and/or add to the state of knowledge in the petroleum industry. (25–75 words) This paper is novel as it takes a wholistic look at a refinery operations value chain and eliminating existing value leaks end-to-end. It recognizes how existing systems have been built-up on outdated technology and siloed business process and proposes a path forward bringing operations, supply chain and process optimization together as a key element of a digital transformation strategy. The paper also explores how AI & prescriptive models pave the future for optimization.

The introduction of digital transformation has influenced the competitive advantage of companies. Key factors of digital transformation, as well as ways in which technologies such as artificial intelligence, big data, automation, and cloud computing enable companies to improve their operations, innovate products and services, and achieve sustainable competitive advantage in the market. The research aims to provide a comprehensive overview of the impact of digital transformation on competitive advantage, identify success factors, as well as the challenges companies face. The research findings will help managers and business leaders to better understand how they can leverage digital technologies to achieve sustainable growth and competitive advantage in the modern marketplace. The issue of digital business transformation has become a subject of interest for management theorists and practitioners only in recent years, so there is a lack of theoretical contributions in this area. The ultimate goal of digital business transformation is to create added business values. Organizations can make this goal more achievable by defining a clear, comprehensive digital transformation strategy that should highlight key digital advantages.

The COVID-19 pandemic has accelerated digital transformation (DT) across various industries, including higher education (HE). In response to the dynamic demands of contemporary society, higher education institutions (HEIs) must swiftly adapt and transform. However, existing research has revealed a prevalent lack of strategic vision regarding DT in HE, often limited to the mere integration of technology. This study employs a systematic literature review (SLR) as a methodological framework to identify and categorize DT challenges and strategies within HE accelerated after the pandemic event. Findings from this SLR highlight four distinct categories of challenges and strategies in DT: Strategic-Administrative, Teaching-Learning, Technical-Technological, and Social-Cultural. Notably, the literature tends to focus more on identifying challenges, revealing an unbalanced emphasis compared to analyzing how HEIs are actively progressing in their DT efforts. Furthermore, there is a significant absence of impact analysis regarding these DT strategies within HE. To address these gaps, recommendations for future research are proposed, including (i) Exploration of strategic processes in HE toward DT, (ii) Empirical analysis of the Digital Maturity of HEIs, and (iii) Assessment of the impact of the strategic responses of HE toward DT. In conclusion, this study underscores the urgency for a more strategic approach to DT in HE, emphasizing the need to shift the focus from technology integration toward holistic, effective, and outcome-driven strategies. These recommendations aim to guide future research toward a more interdisciplinary and comprehensive understanding of DT within the realm of HE. Received: 15 April 2024 | Revised: 6 June 2024 | Accepted: 2 September 2024 Conflicts of Interest The authors declare that they have no conflicts of interest to this work. Data Availability Statement The data that support the findings of this study are openly available in SLR Data selection and extraction.xlsx. Author Contribution Statement María Luisa Nieto-Taborda: Conceptualization, Methodology, Validation, Investigation, Data curation, Writing - original draft, Writing - review & editing, Visualization. Rocci Luppicini: Conceptualization, Validation, Writing - review & editing, Supervision.

Digitalisation transforms corporate governance by enhancing transparency, compliance, and decision-making processes. This study profiles the research landscape of digitalisation as a corporate governance mechanism through a bibliometric-systematic literature review (B-SLR) of 93 articles published between 2019 and 2024 from the Scopus database. Bibliometric techniques, including co-citation analysis and bibliographic coupling, were combined with systematic content analysis using Atlas.ti to identify thematic clusters and emerging trends. The findings reveal an upward trend in publications, particularly after 2019, with four major themes emerging: risk management, corporate governance, digitalisation, and sustainable development. Key technologies, including blockchain, artificial intelligence (AI), and Industry 4.0, appear as pivotal elements in digital governance frameworks. Sustainability has emerged as a growing concern, indicating the integration of environmental, social, and governance (ESG) goals into digital transformation strategies. However, gaps persist regarding sector-specific applications and empirical insights on practical implementations. While digitalisation demonstrates transformative potential for strengthening accountability, operational efficiency, and stakeholder engagement, limited exploration of contextual factors highlights the need for deeper investigations into industry-specific dynamics. This study advances theoretical understanding while providing actionable insights for practitioners and policymakers navigating digital governance transformation.

The digital transformation is profoundly changing organizations and creating new comparative advantages but also necessitating new approaches to management and organizational strategy. The majority of research on business’ digital transformation focuses on technological adoption, innovation, value creation and the dynamic capabilities of organizations. However, the question of why different organizations approach the digital transformation in various ways remains less explored. This article examines the possibilities of inferring various factors that have an impact on the adoption of digital technologies in order to improve the understanding of organizations' digital transformation strategies. Factors such as size, internationalization, research and development (R&D) expenses, foreign direct investment (FDI), turnover, wages and salaries have an expected impact on the adoption of new technologies in an organization and its digital transformation. This is supported by organizational theories such as the resource-based view (RBV), the knowledge-based view (KBV) and the technology-organization-environment (TOE) frameworks. Through examples from the scientific literature, a summary is provided on how the study of the interrelationships between these factors and organizations’ digital transformation can contribute to a better understanding of the different strategies in this field.