How does digitalization shape the business financial performance: a systematic review

This systematic literature review (SLR) examines how digitalization shapes the financial performance of businesses by synthesizing research published from 2014 to 2024. The study analysed 30 articles and utilized the adaptive enterprise architecture (EA) framework to categorize findings across various layers: interaction, human, technology, environment, and security. Key findings from prior literature indicate that digitalization significantly enhances financial performance through improved profit levels, sales growth, and market share, among others, with questionnaire surveys being the predominant method for measurement. The study reveals notable gaps in the literature, particularly regarding the technology, environment, and security layers, and opens the need for further systematic research with the help of EA framework. The future studies should investigate how digitalization affects financial performance over the long run, specifically focussing on market competitiveness, Return on Investment (ROI), and sustainable profitability. Longitudinal research could provide a more thorough picture of how digitalization affects financial outcomes over time.