Digital Transformation of Organizational and Management Controls—Review and Recommendations for the Future

The digitalTransformation transformationDigital transformation underlying the fourth industrial revolution—Industry 4.0Industry 4.0—is making headway at an increasing pace. The way we work and live is changing fundamentally, and the opportunities that digitalizationDigitalization brings to our lives and the ways it reshapes our work at all levels are innumerable. This study aimed to explain how the utilization of emerging digitalDigital technologiesDigital technologies for organizationalOrganizational and managementManagement controlsManagement control has been studied and what kind of performancePerformance improvements can be achieved. A systematic review of the current literature was conducted to this end. The analysis revealed four main themes in the literature and futureFuture research directions to fill research gaps. The identified gaps were related to: (1) the internal and external driversDrivers for utilizing digitalization in management and organizationalOrganizational controls, (2) the impacts of digitalization on management controlManagement control systemsManagement control systems, and prerequisites for using digitalDigital toolsDigital tools in management controlManagement control, (3) the effects of digital toolsDigital tools in decision-makingDecision-making, and related challenges, and (4) digitalization’sDigitalization effect on performancePerformance. Another possible futureFuture research direction would be to investigate the possibilities of specific techniques, such as artificial intelligenceArtificial intelligence, machine learningMachine learning, big dataBig data, businessBusiness intelligenceBusiness intelligence, and Internet of ThingsInternet of things, in organizationalOrganizational and managementManagement controlManagement control and decision-makingDecision-making.