Digital Transformation of Bulgarian Enterprises in the Conditions of Industry 4.0

Abstract

Bulgaria is considerably lagging behind the general trends in the EU for the introduction of a digital society and it is therefore necessary to adopt specific measures and to focus efforts on overcoming the lagging behind. Creating the right conditions for the introduction of Industry 4.0 will support, on the one hand, the competitiveness of production and attracting investment in the economy and, on the other, will help to increase efficiency in optimal resource use. The aim of the study is to reveal the possibilities for digital transformation of the Bulgarian business and to give recommendations for process transformation, using adequate strategic tools. The results of the study show that investment and innovation in IT are a key factor in boosting productivity in the EU and it is expected that three quarters of the value of the digital economy will come from traditional sectors (industry), so it is crucial to support its digital transformation.