Revista

de la

Universidad

del Zulia

Fundada en 1947

por el Dr. Jesús Enrique Lossada

DEPÓSITO LEGAL ZU2020000153

ISSN 0041-8811

E-ISSN 2665-0428

Ciencias del

Agro,

Ingeniería

y Tecnología

Año 15 N° 42

Enero - Abril 2024

Tercera Época

Maracaibo-Venezuela

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The Organizational and Economic Mechanism to Ensure the Financial

Security of companies in the Conditions of Global Digitalization

Anna Pohrebniak*

Volodymyr Tytykalo**

Olha Kalchenko***

Nadiia Antypenko****

Valentyna Kyrii*****

ABSTRACT

Current globalization trends of digitization are increasingly actualizing the issue of ensuring

economic security at the level of various economic systems, which leads to scientific research to

develop the foundations of the organizational and economic mechanism for ensuring financial

security of an enterprise. The purpose of the study is to develop an organizational and

economic mechanism for ensuring the financial security of the enterprise, based on a taxonomic

analysis of the financial security of the company under the conditions of global digitalization. A

methodical approach of economic-mathematical modeling using a taxonomic analysis of

financial security of the enterprise in the conditions of the global digitalization is proposed.

The application of the proposed methodical approach and the implementation of the

organizational and economic mechanism for ensuring financial security of the enterprise in the

conditions of the global digitalization makes possible to establish the root causes of the

emergence and negative effects of threats to the financial security of the enterprise with further

development and implementation of measures of the organizational and economic mechanism

for ensuring financial security of the enterprise.

KEYWORDS: Financial security, organizational and economic mechanism, economic security,

enterprise, digitalization, global digitalization.

*National Technical University of Ukraine “Igor Sikorsky Kyiv Polytechnic Institute”, Kyiv, Ukraine.

ORCID: https://orcid.org/0000-0003-2421-476X. Е-mail: anna.u.pogrebnyak@gmail.com.

**Bogomolets National Medical University, 13, Taras Shevchenko Boulevard, Kyiv, Ukraine. ORCID:

https://orcid.org/0000-0001-9461-5591.

-mail: v.tytykalo@gmail.com

***Chernihiv Polytechnic National University, Chernihiv, Ukraine. ORCID: https://orcid.org/0000-0002-

7120-9843. E-mail: onkalchenko.2014@gmail.com

****National Aviation University, 1, Liubomyra Huzara Str., Kyiv, Ukraine. ORCID: https://orcid.org/0000-

0003-4132-4709.

-mail: nadiia.antypenko@npp.nau.edu.ua

***** Kharkiv National University of Radio Electronics, Kharkiv, Ukraine. ORCID: https://orcid.org/0000-

0002-2537-264X. Е-mail: valentyna.kyriy@nure.ua

Recibido:10/10/2023 Aceptado: 08/12/2023

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El mecanismo organizativo y económico para garantizar la seguridad

financiera de las empresas en las condiciones de la digitalización global

RESUMEN

Las tendencias actuales de globalización y digitalización actualizan cada vez más la

cuestión de garantizar la seguridad económica a nivel de varios sistemas económicos, lo que

conduce a la investigación científica para desarrollar las bases del mecanismo organizativo y

económico para garantizar la seguridad financiera de una empresa. El objetivo del estudio es

desarrollar un mecanismo organizativo y económico para garantizar la seguridad financiera

de la empresa, basado en un análisis taxonómico de la seguridad financiera de la empresa en

las condiciones de la digitalización global. Se propone un enfoque metódico de modelación

económico-matemática utilizando un análisis taxonómico de la seguridad financiera de la

empresa en las condiciones de la digitalización global. La aplicación del enfoque metódico

propuesto y la implementación del mecanismo organizativo y económico para garantizar la

seguridad financiera de la empresa en las condiciones de la digitalización global permite

establecer las causas fundamentales del surgimiento y los efectos negativos de las amenazas

a la seguridad financiera de la empresa con un mayor desarrollo e implementación de

medidas del mecanismo organizativo y económico para garantizar la seguridad financiera de

la empresa.

PALABRAS CLAVE: Seguridad financiera, mecanismo organizativo y económico, seguridad

económica, empresa, digitalización, digitalización global.

Introduction

The bifurcation trends of social development increasingly actualize the issue of

ensuring economic security at the level of various economic systems. Security of the

enterprise's financial activity plays an important role in the enterprise’s functioning, as it

ensures effective management of financial flows to maintain a proper financial condition of

the enterprise and its development. The issue of financial security of enterprises deserves

attention, since it is a key element of the stable enterprise development in the conditions of

the global digitalization. For the development of enterprises in the conditions of the global

digitalization, it is important to harmonize economic interests of the enterprise in time and

space with the interests of other subjects of the external environment, which is facilitated

by the formation of the organizational and economic mechanism for ensuring financial

security of the enterprise.

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The purpose of the article is to justify the principles of the organizational and

economic mechanism of ensuring financial security of the enterprise, which is based on the

taxonomic analysis of financial security of the enterprise in the conditions of the global

digitalization.

To achieve the goal, the authors solved the following tasks:

- the relevance of this study is substantiated;

- an algorithm for conducting economic-mathematical modeling using a taxonomic

analysis of financial security of an enterprise in the conditions of the global digitalization is

proposed;

- the proposed approach was tested on the example of the Ukrainian company

Euroline LLC;

- principles of the organizational and economic mechanism of ensuring economic

security of the enterprise in the conditions of the global digitalization are substantiated.

In the study, a comprehensive approach was used, which involves a combination of

principles of the system, process and functional approaches when justifying the principles

of the organizational and economic mechanism of ensuring financial security of the

enterprise in the conditions of digitalization.

1. Literature Review

Many scientific publications are devoted to the issue of ensuring economic security

of enterprises, including financial security, as well as their innovative, investment and

informational development. The issues of ensuring financial security of enterprises in the

conditions of digitalization are gaining special relevance.

Digitization processes are becoming increasingly relevant. Publications (Marhasova

V. et al., 2023; Kholiavko N. et al., 2022; Kholiavko N. et al., 2021) are devoted to the issue of

digitalization in higher education, which reveal the impact of digitalization on the

sustainable development of Ukraine, examine the role of higher education in the

development of the digital economy, and analyze priority directions for increasing the

adaptability of universities to the conditions of the digital economy.

The authors of the article Sylkin O. et al. (2019) developed a methodological

approach to the application of anti-crisis management in the system of ensuring financial

security of the enterprise. The scientists have proposed a comprehensive scheme of the

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model of the application of anti-crisis management in ensuring financial security of the

enterprise. As a result of the research, a decomposition of the context diagrams of the first

and second levels of the model of the application of anti-crisis management in ensuring

financial security of the enterprise was developed.

Scientists (Grosu V. et al., 2021; Dubyna M. et al., 2022; Shkarlet S. et al., 2019)

studied the influence of digitization and the rapid development of the financial services

market on the peculiarities of the formation and transformation of regional models of

household financial behavior, and also analyzed the financial services markets of Eastern

Europe.

The results of research by scientists Dokiienko L. et al. (2021), which are based on

the development of the system for assessing the state of financial security of the operational

activities of enterprises based on the coordination of the interaction of the main influencing

factors and the levels of its components, acquire practical significance. The scientists

substantiated the system of comprehensive assessment of the degrees and levels of the main

components of financial security of the operational activity of enterprises, namely the model

for assessing financial stability of the operational activity and the model for assessing the

liquidity of the enterprise.

Within the framework of the conducted research (Popelo O. et al., 2022; Vovk O. et

al., 2021; Arefieva O. et al., 2021), innovations in Polish and Ukrainian regions were assessed

taking into account digitalization, the impact of modernization on increasing the

competitiveness of the enterprise was investigated, and the system of economic security in

the conditions of transformational processes was analyzed. Publications (Grigora

-Ichim

C.E. et al., 2018) reveal the issue of forming the perception and vision of business entities

from the border zone of Romania - Ukraine - Moldova regarding interim financial reporting,

and also explore the regulatory policy on these issues.

Studies Rushchyshyn N. et al. (2018) have proven that strategic planning at the

enterprise is the basis of ensuring its financial security and contributes to the creation of all

opportunities for further financial and economic activity with positive results. According to

the authors, strategic planning should be based on the use of a number of measures, i.e.:

increasing the innovative and intellectual potential of the enterprise; use of world-leading

experience in managing material, labor and financial resources of the enterprise; improving

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qualifications of employees, attracting investments in innovative activities of enterprises,

etc.

According to scientists Kuzior A. et al. (2022), the assessment of the impact of the

circular economy concept on the economic security system of industrial enterprises allows

us to ascertain the monopoly of certain industries. The authors identified resource

availability, secondary use of materials and results as the main factors influencing the

circular economy concept on the safety of industrial enterprises.

The basis of the study Kaczmarek J. (2019) is the quantitative assessment of the

creation of corporate value in connection with the financial security level of the company's

functioning. The authors of the study came to the conclusion that there is a directly

proportional relationship between the effects of the value creation process and ensuring

financial security of manufacturing enterprises.

The results of the authors' study Vaitkus R. et al. (2022) confirmed that legal

regulation has a significant positive impact on financial security. Based on the results of the

study, the authors claim that legal regulation, in particular anti-corruption measures,

should be an integral part of the financial security strategies that are being developed.

Taking into account available publications from the indicated direction of research,

it should be noted that the issue of financial security of enterprises in the conditions of

digitalization is becoming more and more relevant, and requires a study of its

organizational and economic support.

2. Methodology

The effectiveness of the functioning of the organizational and economic provision of

financial security of the enterprise in the conditions of the global digitalization is proposed

to be determined using the taxonomic analysis. It is the taxonomic analysis as a toolkit of

economic and mathematical modeling that is appropriate for determining financial security

of the enterprise, since it makes it possible to consider correlational dependencies between

the indicators when calculating integral indices, as well as to compile a system of analytical

signs of financial security that form points of a multidimensional space, the distance

between which is determined using taxonomic (Euclidean) distance. The taxonomic

analysis also does not require additional special preliminary calculations, but is based on

the standardization of values of the indicators selected for the analysis.

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We offer the following algorithm for conducting economic and mathematical

modeling using the taxonomic analysis of financial security of the enterprise in the

conditions of the global digitalization.

First, the identification of estimated indicators of the company's financial security,

which are based on the indicators of the company's financial condition. The number of

indicators can be quite large depending on the specifics of financial security - further

calculations, which have the following form:

11 1 1

21 1

j m

j ij m

n nj nm

x x x

Xi x x x

x x x

é ù

ê ú

ë û

(1)

where Х – calculated value of financial security of the enterprise;

n – number of study periods;

– number of evaluation indicators that were chosen to determine financial security

of the enterprise in the conditions of the global digitalization;

– value of the j-th evaluation indicator of the i-th period of the study

Second, the standardization of the selected evaluation indicators to bring the

indicators into an immeasurable dimension. Such a standard procedure is carried out

separately for the indicators that have a positive impact on ensuring financial security of the

enterprise, and a negative impact, that is, stimulators are determined and where the

stimulators are. The standardization is carried out according to the formula:

x x

(2)

where y

– standardized value of the evaluation indicator;







– average arithmetic value of the jth evaluation indicator;





– root mean square deviation of the j-th estimated indicator.

Third, it provides for the definition of the reference vector among the isolated and

standardized values of the evaluation indicators. For indicators of stimulators, the

maximum value is selected, for de-stimulators - the minimum value

max

min

(3)

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where y

– reference value of the evaluation indicator vector for stimulators (max)

and de- stimulators (min).

Fourth, the determination of the taxonomic (Euclidean) distance between the

standardized evaluation indicators and their reference vectors.

( )

j ij oj

sio y y

= -

(4)

where





– taxonomic distance between the standardized value of the evaluation

indicator y

ij,

and values of the generated reference vector y

Fifth, the determination of the average value of the estimated indicator estimation of

financial security in the conditions of the global digitalization from its reference vector:

( )

io i io

Z s so s

= =

(5)

where

 



– average level of deviations of the evaluation indicators from the

reference vector.

Sixth, at this stage, the root-mean-square deviation of the distances of the vectors of

the estimated financial security indicators of individual periods from the reference vector is

determined, which is calculated by the formula:

1 0

0 ( )

i io

s s

= -

(6)

where





– root mean square deviation of the distances s_i0, which is determined as

follows:

0 0 0

3s s

= + ×

(7)

where





– maximum level of deviation of the vectors of the estimated indicators of

financial security from the reference vector, calculated according to the 3-sigma rule.

Seventh, the final stage of the calculation, which provides for the determination of

the integral indicator of the efficiency of ensuring financial security of the enterprise in the

conditions of the global digitalization, which quantitatively makes it possible to estimate

the degree of deviation of the financial security level for each studied period from the

reference value.

The calculation of the final integral indicator of the assessment of the level of the

financial security effectiveness in the conditions of the global digitalization (II) is carried

out according to the following formula:

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i i

I i= -

(8)

where





– integral indicator of the effectiveness level of ensuring financial security

of the enterprise in the conditions of the global digitalization;





- indicator of the effectiveness of ensuring financial security of the enterprise in the

conditions of the global digitalization, which is determined by the formula

(9)

where





– intermediate value of the indicator of the effectiveness level of ensuring

financial security of the enterprise in the conditions of digitalization.

To interpret the results of the taxonomic analysis of efficient ensuring financial security

of the enterprise in the conditions of the global digitalization, it is proposed to use the

Harrington scale, which is a well-founded discrete verbal-numerical scale with five intervals,

which allows us to determine the degree of approximation, in our case, the efficiency of

ensuring financial security of the enterprise in the conditions of the global digitalization

(Table 1).

Table 1.

Harrington's multi-interval scale for the interpretation of the obtained

results of calculations of the efficiency of ensuring financial security of the enterprise in the

conditions of the global digitalization.

The value of the integral indicator of the

assessment of the effectiveness level of providing

financial security in the conditions of

digitalization

Qualitative interpretation of the level of ensuring

financial security of the enterprise in the

conditions of digitalization

80,1 – 100

Very high

63,1 – 80,0

High

37,1 – 63,0

Average

20,1 – 37,0

Low

0 – 20,0

Very low

Source: compiled by the authors based on Harington's theory.

Thus, the proposed stages of the taxonomic analysis make it possible to evaluate the

effectiveness of ensuring financial security of the enterprise in the conditions of the global

digitalization.

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3. Results

The proposed methodological toolkit for determining financial security of

enterprises in the conditions of the global digitalization was tested in relation to Euroline

LLC.

It should be noted that the study of ensuring financial security of the enterprise in

the conditions of the global digitalization covers a wide range of various aspects of the

enterprise's activity, which can be evaluated through such indicators as financial stability,

liquidity, profitability of the enterprise and their varieties. These analytical features are

included in the evaluation indicators of effective ensuring financial security of the

enterprise in the conditions of the global digitalization (Table 2).

In Table 2, the value of the evaluation indicators is presented, which represent a

certain system containing two components, namely financial (15 indicators) and

informational (4 indicators).

The estimated indicators presented in Table 2 testify that Euroline LLC does not

demonstrate an increase in the efficiency of its financial activities during the investigated

period. So, for example, it is possible to state the growth of the company's receivables in

2019, which affected the decrease of the indicator of the financial stability coefficient K1 =

0.135, and the indicator of the provision coefficient of own current assets K6 = 0.061, which

is the lowest indicator for the period under study.

The presented estimated indicators of the financial security component of Euroline

LLC demonstrate the company's low ability to adequately cover financial obligations at the

expense of equity to long-term liabilities. However, it cannot be said that all indicators of

financial security have critically low values. Thus, positive values are observed in such an

indicator of financial security as own current assets, which is reflected in a significant

excess of the normative values of financial indicators of the maneuverability of own capital

and provision of own current assets.

It should be noted that Euroline LLC has no credit obligations, which is not positive

from the point of view of the company's financial security, as it indicates the absence of

strategic plans of the company to expand or diversify its activities.

Thus, it can be noted that the company has a low level of financial stability, which

poses threats to timely satisfaction of the company's financial obligations and reduces

financial security of Euroline LLC as a whole.

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Table 2.

Evaluation indicators for conducting the taxonomic analysis of the

effectiveness of ensuring financial security of the enterprise in the conditions of the global

digitalization.

Indicator

Conventional

designation

Actual value of the indicator

2017

2018

2019

2020

2021

Financial component

Coefficient of financial stability

К1

0,514

0,486

0,135

0,417

0,438

Coefficient of financing (financial

stability)

К2

1,057

0,944

0,156

0,716

0,778

Coefficient of business activity

К3

11,459

10,375

3,695

3,572

6,433

Equity maneuverability ratio

0,303

0,370

0,419

0,478

0,339

Current liquidity ratio

К5

1,321

1,349

1,065

1,342

1,264

Coefficient of provision with own

working capital

К6

0,243

0,259

0,061

0,255

0,209

Accounts Payable Turnover Ratio

К7

23,443

20,818

4,351

4,187

9,432

Coefficient of duration of one turnover

of current assets

К8

31,852

35,179

98,776

102,181

56,737

Turnover ratio of working stocks

К9

30,895

29,309

26,316

27,099

21,493

Duration of accounts payable turnover

К10

15,570

17,533

83,885

87,179

38,696

Rate of return on assets

0,016

0,018

0,008

-0,122

Return on equity ratio

К12

0,027

0,036

0,038

-0,286

Product profitability ratio

К13

0,008

0,007

-0,080

Rate of return on sales

К14є

0,003

0,004

-0,037

Gross profit rate of return

К15

0,290

0,346

0,358

0,315

Information component

Coefficient of information armament

0,002

0,003

0,001

0,002

Share of the enterprise's costs for

information provision

К17

0,008

0,007

0,009

Information security factor

К18

0,012

0,011

0,009

0,013

0,014

Coefficient of security service provision

0,030

0,024

0,019

0,022

Source: compiled by the authors based on calculations.

The current liquidity ratio proves that the company has a fairly stable liquidity level

during the studied period, and current assets fully cover the amount of current liabilities. A

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positive point in this case is the cash reserves of the company's funds in the accounts of

banking institutions, which ensure a high level of liquidity.

The analytical study of profitability indicators makes it possible to note that

profitability indicators are at an extremely low level. Thus, the highest value of the sales

profitability of Euroline LLC during the researched period did not exceed K14 = 0.004,

product profitability K13 = 0.008. Not significantly, but the return on equity ratio is higher,

which in 2020 was K12 = 0.038, which can be explained by the low value of the equity ratio

of Euroline LLC. In 2021, there is a significant decrease in the profitability indicators of

Euroline LLC as a whole, which is due to the receipt of a loss at the enterprise. Among the

indicators of profitability of Euroline LLC, the indicator of profitability of gross profit has

the best values, which indicates the presence of financial security problems in terms of

administrative and sales expenses. In general, the company's profitability indicators point

to its low level.

Regarding the information component of security, it should be noted that the

indicators such as the ratio of information armament, share of costs for information support,

and ratio of information security are at rather low levels, which is due to the lack of an

appropriate level of attention to information resources on the part of the enterprise. The

highest value of the information component is the coefficient provided by the security

service, but from the point of view of the modern conditions of the development of

information resources and ensuring security of the enterprise, this indicator is also at a

rather low level.

Further calculations according to the proposed methodology are presented in Table

In Table 3, the final calculations of effective ensuring financial security of the

enterprise in the conditions of the global digitalization are presented. Of the 19 indicators

that were singled out for evaluating the effectiveness of providing financial security in the

conditions of the global digitalization, three indicators act as indicators, namely:

coefficients of turnover of credit debt, duration of one turnover of current assets and

duration of the turnover of payables. Presented in the Table 3 standardized values make it

possible to proceed to the next stages of calculating the taxonomic distance between the

standardized evaluation indicators and their reference vectors, and calculate the integral

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indicator of ensuring financial security of the enterprise in the conditions of the global

digitalization (Table 4, Fig. 1).

Table 3. Evaluation indicators for conducting the taxonomic analysis of the

effectiveness of ensuring financial security of the enterprise in the conditions of the global

digitalization.

Conventional

designation

Standardized value of the indicator

xjavg

Reference

value

Type of

influence

2017

2018

2019

2020

2021

Financial component

К1

0,855

0,646

-1,935

0,142

0,292

0,398

0,136

0,855

Stimulant

1,245

1,065

0,483

0,856

0,878

0,682

0,153

1,245

Stimulant

1,967

1,486

-4,451

0,327

0,672

0,915

0,313

1,967

Stimulant

К4

-1,282

-0,195

0,607

1,569

-0,699

0,382

0,061

1,569

Stimulant

К5

0,497

0,766

-1,918

0,697

-0,043

1,268

0,106

0,766

Stimulant

К6

0,507

0,722

-1,942

0,668

0,045

0,205

0,074

0,722

Stimulant

0,954

0,854

0,158

0,189

0,253

18,265

2,265

-0,158

Disincentive

К8

1,456

1,654

4,358

4,402

4,824

2,562

0,694

-1,456

Disincentive

К9

1,209

0,714

-0,221

0,024

-1,726

27,023

3,203

1,209

Stimulant

К10

-1,056

-0,993

1,129

1,235

-0,316

48,572

31,265

-1,056

Disincentive

К11

0,560

0,608

0,411

0,414

-1,994

-0,015

0,054

0,608

Stimulant

0,654

0,685

0,689

-1,655

0,581

0,235

0,689

Stimulant

К13

-0,758

-0,567

-0,370

-0,277

1,972

0,813

0,2562

1,972

Stimulant

К14

-0,379

-0,284

-0,185

-0,139

0,986

0,846

0,154

0,379

Stimulant

1,240

1,110

0,205

0,245

0,329

0,926

0,292

0,205

Stimulant

Information component

К16

-0,2835

-0,379

-0,185

-0,139

0,986

0,342

0,061

0,379

Stimulant

К17

-0,379

-0,284

-0,395

-0,352

-0352

0,009

0,008

0,379

Stimulant

К18

0,034

0,030

0,018

0,041

0,046

0,047

0,008

0,046

Stimulant

0,063

0,067

0,069

0,063

0,023

0,004

0,069

Stimulant

Source: compiled by the authors based on calculations.

The results of calculations of the provision effectiveness of financial security of the

enterprise in the conditions of the global digitalization are presented in Table 4, and testify

that in 2020 the calculated values have the most negative dynamics, this is primarily due to

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the impact of the COVID-19 pandemic, which affected business activities and led to a

decrease in financial and economic security in general. At the same time, it should be noted

that the majority of enterprises have also received positive effects due to the global

digitalization through the opening of new market segments, improvement of the efficiency

of logistics, sales, etc.

Table 4.

Calculations of performance indicators for ensuring financial security of

Euroline LLC in the conditions of the global digitalization according to the proposed

methodical approach.

Indicator

Years

2017

2018

2019

2020

2021

Financial component

Taxonomic distance between the standardized value

of the evaluation indicator (si0)

2,872

1,845

2,684

5,466

4,744

Average level of deviations of the estimated indicators

from the reference vector (Z(si0))

3,522

Root mean square deviation of the distances of the

vectors of the estimated indicators from the reference

vector (σ0)

1,357

Maximum level of deviation of financial security

vectors from the reference vector (s0)

7,593

Intermediate value of the indicator of the effectiveness

level of ensuring financial security of the enterprise in

the conditions of the global digitalization (ii*)

0,378

0,243

0,354

0,720

0,625

Integral indicator of the assessment of the effectiveness

level of financial security in the conditions of the

global digitalization (Ii)

0,621

0,757

0,647

0,280

0,375

Information component

Taxonomic distance between the standardized value

of the evaluation indicator (si0)

3,245

3,735

3,173

4,112

4,045

Average level of deviations of the estimated indicators

from the reference vector (Z(si0))

3,662

Root mean square deviation of the distances of the

vectors of the estimated indicators from the reference

vector (σ0)

0,391

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The maximum level of deviation of financial security

vectors from the reference vector (s0)

4,837

Intermediate value of the indicator of the effectiveness

level of ensuring financial security of the enterprise in

the conditions of the global digitalization (ii*)

0,671

0,771

0,656

0,850

0,836

Integral indicator of the assessment of the effectiveness

level of financial security in the conditions of the

global digitalization (Ii)

0,329

0,228

0,344

0,150

0,164

Value of the integral indicator of the provision effectiveness

Integral indicator of the provision effectiveness of the

financial component

62,1

75,7

64,7

28,0

37,5

Integral indicator of the provision effectiveness of the

information component

32,9

22,8

34,4

15,0

16,4

Integral indicator of the effectiveness provision of

financial security in the conditions of the global

digitalization

37,8

35,2

33,7

22,0

23,5

Source: compiled by the authors based on calculations.

Figure 1. The value of the integral indicator of the provision effectiveness, 2017-2021

Source: built by the authors

According to the interpretation of the obtained results of the calculations of effective

ensuring financial security of the enterprise in the conditions of the global digitalization

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(Table 1), only in 2018 and 2019 the financial component of the integral indicator value was

at a high level. In 2020, the integral indicator value for the financial component was low (Ii

= 0.280). In all other years, the financial component value was at an average level.

As for the information component, from 2017 to 2019, the integral indicator value

was at a low level, and the last two years under study were at a very low level. Such a

situation proves the need to use the organizational and economic mechanism of ensuring

financial security of the enterprise in the conditions of the global digitalization.

Ensuring financial security of the enterprise involves:

first, the determining role in the composition of economic security of the enterprise

as a whole;

second, ensuring such a state of the enterprise, which is characterized by resistance

to the adverse influence of destabilizing external and internal factors;

third, activities aimed at protecting financial interests of the enterprise by reducing

financial risks and leveling their negative manifestation;

Fourth, implementation of measures aimed at increasing the efficiency of the use of

financial resources and reducing financial losses, and the probability of bankruptcy of the

enterprise.

The outline requires the implementation of the organizational and economic

mechanism for ensuring financial security of the enterprise in the conditions of the global

digitalization, which is based on the organizational and economic focus, simultaneous

application of which makes it possible to obtain a synergistic effect for the enterprise in

terms of ensuring economic security in the conditions of the global digitalization (Fig. 2).

The organizational component of the mechanism for ensuring financial security of

the enterprise in the conditions of the global digitalization should be aimed at:

- detailing the organizational structure and increasing the responsibility of units

responsible for ensuring financial security;

- quick response and introduction of necessary changes in the accounting system and

analytical support of financial security based on constant monitoring and analysis of

information regarding the appearance and detection of possible threats and risks to

financial security of the enterprise;

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- carrying out organizational measures at the enterprise to strengthen coordination

between individual divisions to increase the effectiveness of implementation without

pecuniary actions;

Figure 2.

The organizational and economic mechanism of ensuring financial security

of the enterprise in the conditions of the global digitalization

Source: built by the authors

- establishment of appropriate channels of information transmission with limited

access and protection of commercial secrets;

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- strengthening cooperation with external security entities to increase the

effectiveness of protecting the company's financial interests and identifying latent financial

activity opportunities for the company.

At the same time, the economic component of the organizational and economic

mechanism for ensuring financial security of the enterprise in the conditions of the global

digitalization should be aimed at:

- financial support of the enterprise and provision of measures to ensure its financial

security;

- formation of a reserve fund with the aim of accumulating financial resources to

perform the necessary actions and implement measures to ensure financial security of the

enterprise;

- application of the proposed methodical approach to determine the effectiveness of

measures to ensure financial security of the enterprise in order to single out the lowest

marginal values of integral indicators for the purpose of timely implementation without

pecuniary measures;

- formation of measures for the introduction of digital technologies to increase

financial security of the enterprise.

Therefore, the use of the organizational and economic mechanism for ensuring

financial security of the enterprise in the conditions of the global digitalization will make it

possible to maintain the necessary level of financial security and achieve the set goals of

economic development for the enterprise.

4. Discussion

We support the results of the study by L. Dokienko (2021) justifying the feasibility

of an alternative approach to assessing the level of financial security of an enterprise based

on the use of a model of modified and adjusted financial reporting. The authors established

a direct connection between the level of financial security of enterprises and the main

financial indicators, developed a methodical approach to diagnosing the level of financial

security of enterprises.

We consider the research of O. Silkin and others to be relevant (2019), in the

framework of which a map for choosing an anti-crisis management strategy by ensuring the

financial security of the enterprise is proposed. The authors have developed eight possible

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strategy options, the application of which will allow to minimize the occurrence of a crisis,

to implement protective anti-crisis measures with maximum efficiency and to ensure the

necessary level of protection of the enterprise.

The article by scientists O. Gonchar and others deserves attention. (2020), within

which the factors affecting financial security and which are the object of assessment in the

management of the company's potential are investigated. Scientists have developed models

for assessing and analyzing threats to financial security. This allows identifying dominant

threats and assessing the consequences of their long-term impact based on factor analysis

and structural modeling.

The authors of the study Blakyta G. et al. (2018) analyze the problems of ensuring

the economic and financial security of both companies and the state. Scientists have

systematized threats to the economic security of the enterprise, as well as means of

strengthening it, which, in our opinion, is extremely relevant and necessary.

Supporting the opinion of the authors Delas V. et al. (2015), it is appropriate to note

that the financial security of enterprises is one of the main components of the national

security of any country, since enterprises are taxpayers who form the revenue part of the

budget and create jobs. Scientists claim that in order to assess financial security, it is

necessary to determine methods and indicators of assessment, factors affecting financial

security, levels of financial security. Scientific works of scientists T. Bielialov (2023), A.

Rumiantsev (2022) devoted to various aspects of global digitalization are also relevant.

However, despite the existing publications on this issue, we would like to emphasize

that the conducted study of the financial security of enterprises in the conditions of

digitalization is extremely relevant and has an appropriate level of novelty.

Conclusion

The scientific novelty of the research consists in the improvement of the methodical

approach to assessing the effectiveness of ensuring financial security of the enterprise in the

conditions of the global digitalization, which is based on the axonometric analysis, which

makes it possible to take into account correlational dependencies between indicators when

calculating integral indices, as well as to compile a system of analytical signs of financial

security that form points of multidimensional space, the distance between which is

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determined using the Euclidean distance, and involves the use of the organizational and

economic mechanism for ensuring financial security.

The application of the proposed methodical approach and the implementation of the

organizational and economic mechanism for ensuring financial security of the enterprise in

the conditions of the global digitalization makes it possible to establish the root causes of

the emergence and negative effects of threats to the financial security of the enterprise with

further development and implementation of measures of the organizational and economic

mechanism for ensuring financial security of the enterprise, which ensures the

implementation of protective measures with more effective use of resources.

The approbation of the proposed methodological approach to the assessment of

financial security in the conditions of the global digitalization using the example of

Euroline LLC shows its unsatisfactory state, as there are quite a few financial threats to the

company's stable and sustainable financial position, which is largely based on fairly high

liquidity. With the exception of 2017, the obtained values of the integrated indicator of the

effectiveness of ensuring financial security of the enterprise in the conditions of

digitalization according to Harrington's multi-interval scale have a low level, and only in

2017 - the average level of ensuring financial security in the conditions of the global

digitalization. It should be noted that enterprises pay insufficient attention to digitization,

which can lead to a deterioration of security in the future. This requires the use of the

organizational and economic mechanism to ensure financial security at the enterprise.

Further scientific research in the area of influence of the global digitalization on

ensuring financial security of micro-level economic systems consists in the development of

measures for the use of digital technologies and digital transformation in general to increase

the efficiency of functioning.

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