On February 20, 2025, BDO in Ukraine conducted a webinar on digital solutions, investment and sustainability strategies for the business.
The event convened senior executives and specialists from small and medium-sized enterprises to discuss the use of artificial intelligence, cybersecurity and approaches to developing investment projects. The speakers offered practical advice on leveraging technology to enhance business processes and mitigate the risks of cyberattacks. They also emphasized the importance of minimizing mistakes when creating investment projects.
The purpose of the webinar: To increase the competence of SMEs on the possibilities of digital tools that help reduce the workload of employees by optimizing time spent on routine tasks, improving management and financial processes and ensuring cybersecurity. The event aims to strengthen organizational sustainability, improve business processes and increase the competitiveness of companies.
Tetiana began by highlighting the numerous challenges currently facing the business, with staff shortages being a primary concern. She proposed a solution that utilizes artificial intelligence to enhance workflows. AI has the potential to automate routine tasks within financial, analytical and administrative domains. This, in turn, reduces the workload of employees and enhances efficiency.
Not only does it help to automate the processes, but it also improves the quality of work: from automatic word processing to creating reports and presentations. Programs like Microsoft Copilot in the Microsoft 365 ecosystem allow users to automate text tasks, translation, Excel forecasting, graphing and much more. The use of AI in communications, such as through chatbots and automated responses, significantly increases the efficiency of customer interaction.
1. Sales forecasting with Excel (Copilot in Excel) using advanced analysis with Python: Microsoft Copilot in Excel, used in conjunction with advanced analysis, enables the rapid creation of forecasts based on historical data, which would normally require more time with traditional tools. By automating this process, you can significantly accelerate analytics and get more accurate forecast results for up to several years, saving time and increasing the data accuracy.
Fig. 1; Projected revenue by category for the next 2 years with historical data in one chart, created with Copilot in Excel using advanced analysis with Python.
2. Financial reconciliations with Copilot (Copilot for Finance): When automating financial reconciliations, Copilot performs a reconciliation check between budgeted expenses and bank statements. Thanks to AI, this process takes only a few minutes, as opposed to the traditional method requiring much more time to identify discrepancies and similar transactions. This approach allows you to quickly get a summary and recommendations for deviations.
3. Creating presentations with PowerPoint: With Copilot, you can create presentations in mere minutes based on the text documents you provide. This greatly streamlines the commonly time-consuming process of preparing materials for speeches or meetings. The AI automatically generates the presentation structure, incorporating speaker notes, and produces a high-quality draft in a matter of minutes.
Artificial intelligence is an indispensable tool for businesses, helping to automate routine processes, improve communication efficiency, make informed decisions and save time. By integrating it into business processes, the companies can significantly increase productivity and remain competitive in the market.
Andrii’s speech addressed significant issues currently facing businesses. He underscored the importance of effective team and process management, particularly in the context of potential cybersecurity threats. In today’s business landscape, data security is paramount, making the implementation of effective cybersecurity solutions crucial for a company’s survival in the market.
1. Security as a priority: A significant number of cyberattacks are initiated through email, which can have grave consequences for businesses. Ensuring data security should be a top priority, as the loss of critical information can be detrimental even to the most well-established companies.
2. Management efficiency and facilitation: Following the implementation of security measures, the focus of the companies should shift to process efficiency enhancement. Andrii has noted that the adoption of appropriate management tools, such as Microsoft 365, can significantly facilitate workflow optimization, customer data storage and management, and the integration of diverse software solutions, thereby enhancing overall productivity.
3. Legal liability: Another critical issue is the matter of legal liability regarding the use of unlicensed software. For international partners, this can be a significant disadvantage, and such practices may ultimately result in criminal consequences in Ukraine as well. Therefore, it is essential to prioritize the legalization of software products at this time.
4. Integration and compatibility of solutions: The utilization of integrated solutions facilitates the establishment of a streamlined infrastructure within the organization. Microsoft programs, notably, support integration with other products, thereby enhancing the management process.
5. Advantages of Microsoft as a reliable partner: Andrii emphasized the advantages of adopting Microsoft solutions, including their robust cybersecurity features, user-friendly interface, seamless integration with other software products, and the ongoing training opportunities provided by the Microsoft Academy. He also highlighted that Microsoft offers customized licensing options tailored to the diverse requirements and budgetary constraints of small and medium-sized enterprises.
He concluded by stating that it is imperative for businesses to utilize modern tools that facilitate effective process management and ensure proper security, and Microsoft 365 is the optimal solution for these tasks.
Oleksandr highlighted the significance of a comprehensive approach to cybersecurity within companies, underscoring the necessity of integrating security and efficiency as essential components of business strategy. He provided a particular instance of a Ukrainian company that experienced a data breach due to server hacking and encryption. Oleksandr further emphasized that backups can also be encrypted by intruders, stressing the importance of ensuring comprehensive data protection.
1. Cybersecurity is not only an antivirus.
Oleksandr noted that companies often believe that purchasing antivirus software or installing firewalls is sufficient for their security needs. In reality, however, this is merely a single element, whereas true security involves performing risk audits, adjusting access settings, training employees and conducting vulnerability testing.
2. Risk assessment and proper access management.
It is imperative to identify critical data and services that require prioritized protection and implement a comprehensive access control policy. Privileged accounts require particular attention, as their compromise can have disastrous consequences.
3. Phishing and social engineering.
In many cases, attacks are carried out through the manipulation of employees. Therefore, training and awareness are key defense measures. Oleksandr provided examples of phishing attacks disguised as official requests from government agencies and explained that attackers are constantly improving their methods.
4. Penetration Test.
Oleksandr stressed the importance of conducting a penetration test in assessing the real state of cybersecurity within a company. it enables the modeling of potential attack scenarios and provides insights into the organization’s vulnerability to such threats. He identified two primary types of testing:
5. Backups and incident response.
Properly configured backups are a critical component of cybersecurity. Oleksandr provided an example of a company that experienced a data loss due to an attack because the backups were also encrypted by the attackers. He emphasized the importance of developing cyber incident response strategies and regularly testing recovery mechanisms.
In his speech, Andrii Borenkov highlighted the significance of thoroughly prepared investment projects and business plans, which are crucial for securing investment. He underscored that inadequate project preparation can prevent a promising idea from obtaining the necessary funding. He emphasized that this is particularly crucial for Ukraine in the context of post-war recovery and collaboration with international donors.
2. Key components of a successful investment project.
4. The professional consultants’ role in project preparation. Andrii recommended engaging professional consultants to prepare investment projects. He emphasized that business plans and financial models require considerable analytical work and experience and often take a long time to develop. Involving specialists helps to avoid common mistakes and speed up the process, which significantly increases the chances of successful cooperation with investors.
5. Investment strategies and financing. Andrii also addressed the subject of project financing strategies, observing that external investments or loans alone are not a reliable source of funding. He emphasized the importance of equity, noting that it demonstrates the company’s commitment to its own project and reduces the risks for a third-party investor.
6. Peculiarities of municipal and non-profit projects. For projects lacking a commercial component, a crucial element is the assessment of the socio-economic effect. Andrii underscored that while these projects may not be profitable, economic feasibility and their impact on the development of a region or country are pivotal to donors and international organizations. Additionally, Western methodologies exist that enable the estimation of such economic effects based on individual models.
Ukraine needs to learn how to work effectively with documentation and business plans to attract the necessary investments for the economic recovery and development of country as a whole.
The webinar offered valuable insights on strategies to enhance business efficiency, competitiveness, and resilience to modern challenges. The speakers addressed a range of crucial topics, including digital solutions for automating business processes and the key principles of preparing investment projects to attract funding for development.
We discussed the importance of comprehensive cybersecurity, the ability to adapt a business to new conditions, and the importance of the correct approach to creating business plans, which are an important part of attracting investment. Together, we looked at how artificial intelligence and digital tools can become powerful allies in optimizing business processes, from finance to customer communications.
In today’s digital age, it is essential for businesses to be prepared for the inevitable changes that come with digital transformation. Digital technologies are not just tools for growth; they are also a necessity for competitiveness in both domestic and international markets. The solutions we have discussed will help companies not only cope with modern challenges but also become industry leaders.
We would like to express our gratitude to all the participants for their commitment to developing their business and enhancing its competitiveness. Your interest in implementing digital products and new solutions is a significant step towards the company’s success.
Implementing effective solutions necessitates not only expertise but also the backing of seasoned professionals. The team of BDO in Ukraine is ready to offer guidance at every stage of your business’s journey, from digital transformation to the development of investment projects and fundraising. If you aspire to enhance business efficiency, leverage our professional support in implementing innovative solutions or formulating a growth strategy, do not hesitate to reach out. We are dedicated to propelling your business to new heights.
We are eager to collaborate with you and support you in achieving your ambitious business goals!
The purpose of the webinar: To increase the competence of SMEs on the possibilities of digital tools that help reduce the workload of employees by optimizing time spent on routine tasks, improving management and financial processes and ensuring cybersecurity. The event aims to strengthen organizational sustainability, improve business processes and increase the competitiveness of companies.
Artificial Intelligence for Modern Business — Tetiana Okseniuk, Chief AI Implementation Specialist.
Tetiana began by highlighting the numerous challenges currently facing the business, with staff shortages being a primary concern. She proposed a solution that utilizes artificial intelligence to enhance workflows. AI has the potential to automate routine tasks within financial, analytical and administrative domains. This, in turn, reduces the workload of employees and enhances efficiency.
Artificial intelligence as an optimization tool.
Not only does it help to automate the processes, but it also improves the quality of work: from automatic word processing to creating reports and presentations. Programs like Microsoft Copilot in the Microsoft 365 ecosystem allow users to automate text tasks, translation, Excel forecasting, graphing and much more. The use of AI in communications, such as through chatbots and automated responses, significantly increases the efficiency of customer interaction.
Tetiana demonstrated the following cases:
1. Sales forecasting with Excel (Copilot in Excel) using advanced analysis with Python: Microsoft Copilot in Excel, used in conjunction with advanced analysis, enables the rapid creation of forecasts based on historical data, which would normally require more time with traditional tools. By automating this process, you can significantly accelerate analytics and get more accurate forecast results for up to several years, saving time and increasing the data accuracy.Fig. 1; Projected revenue by category for the next 2 years with historical data in one chart, created with Copilot in Excel using advanced analysis with Python.
2. Financial reconciliations with Copilot (Copilot for Finance): When automating financial reconciliations, Copilot performs a reconciliation check between budgeted expenses and bank statements. Thanks to AI, this process takes only a few minutes, as opposed to the traditional method requiring much more time to identify discrepancies and similar transactions. This approach allows you to quickly get a summary and recommendations for deviations.
3. Creating presentations with PowerPoint: With Copilot, you can create presentations in mere minutes based on the text documents you provide. This greatly streamlines the commonly time-consuming process of preparing materials for speeches or meetings. The AI automatically generates the presentation structure, incorporating speaker notes, and produces a high-quality draft in a matter of minutes.
Tetiana emphasized: “Artificial intelligence is not just an innovation; it is the reality we live in. And it is thanks to it that we can automate routine processes and free up time for more complex and creative tasks.”
Artificial intelligence is an indispensable tool for businesses, helping to automate routine processes, improve communication efficiency, make informed decisions and save time. By integrating it into business processes, the companies can significantly increase productivity and remain competitive in the market.
Microsoft 365: Digitalization of Business Management — Andrii Paios, Head of IT
Andrii’s speech addressed significant issues currently facing businesses. He underscored the importance of effective team and process management, particularly in the context of potential cybersecurity threats. In today’s business landscape, data security is paramount, making the implementation of effective cybersecurity solutions crucial for a company’s survival in the market.
Key points of the speech:
1. Security as a priority: A significant number of cyberattacks are initiated through email, which can have grave consequences for businesses. Ensuring data security should be a top priority, as the loss of critical information can be detrimental even to the most well-established companies.2. Management efficiency and facilitation: Following the implementation of security measures, the focus of the companies should shift to process efficiency enhancement. Andrii has noted that the adoption of appropriate management tools, such as Microsoft 365, can significantly facilitate workflow optimization, customer data storage and management, and the integration of diverse software solutions, thereby enhancing overall productivity.
3. Legal liability: Another critical issue is the matter of legal liability regarding the use of unlicensed software. For international partners, this can be a significant disadvantage, and such practices may ultimately result in criminal consequences in Ukraine as well. Therefore, it is essential to prioritize the legalization of software products at this time.
4. Integration and compatibility of solutions: The utilization of integrated solutions facilitates the establishment of a streamlined infrastructure within the organization. Microsoft programs, notably, support integration with other products, thereby enhancing the management process.
5. Advantages of Microsoft as a reliable partner: Andrii emphasized the advantages of adopting Microsoft solutions, including their robust cybersecurity features, user-friendly interface, seamless integration with other software products, and the ongoing training opportunities provided by the Microsoft Academy. He also highlighted that Microsoft offers customized licensing options tailored to the diverse requirements and budgetary constraints of small and medium-sized enterprises.
“In today’s business environment, effective management of processes and teams is essential, as is ensuring data security. The key to success is choosing the right tools that allow for growth and reliable protection of the business,” said Andrii.
He concluded by stating that it is imperative for businesses to utilize modern tools that facilitate effective process management and ensure proper security, and Microsoft 365 is the optimal solution for these tasks.
Cybersecurity. Cybersecurity Risk Assessment — Oleksandr Kononuchenko, Head of Information Technology Audit Department, CISA
Oleksandr highlighted the significance of a comprehensive approach to cybersecurity within companies, underscoring the necessity of integrating security and efficiency as essential components of business strategy. He provided a particular instance of a Ukrainian company that experienced a data breach due to server hacking and encryption. Oleksandr further emphasized that backups can also be encrypted by intruders, stressing the importance of ensuring comprehensive data protection.
Key points of the speech:
1. Cybersecurity is not only an antivirus.Oleksandr noted that companies often believe that purchasing antivirus software or installing firewalls is sufficient for their security needs. In reality, however, this is merely a single element, whereas true security involves performing risk audits, adjusting access settings, training employees and conducting vulnerability testing.
2. Risk assessment and proper access management.
It is imperative to identify critical data and services that require prioritized protection and implement a comprehensive access control policy. Privileged accounts require particular attention, as their compromise can have disastrous consequences.
3. Phishing and social engineering.
In many cases, attacks are carried out through the manipulation of employees. Therefore, training and awareness are key defense measures. Oleksandr provided examples of phishing attacks disguised as official requests from government agencies and explained that attackers are constantly improving their methods.
4. Penetration Test.
Oleksandr stressed the importance of conducting a penetration test in assessing the real state of cybersecurity within a company. it enables the modeling of potential attack scenarios and provides insights into the organization’s vulnerability to such threats. He identified two primary types of testing:
o An external pentest that verifies protection against attacks from the Internet.
o An internal pentest that simulates an attack from within the organization, such as when an employee is compromised or an infected flash drive is used.
The results of such testing are instrumental in identifying and eliminating weaknesses before they can be exploited by attackers.
5. Backups and incident response.
Properly configured backups are a critical component of cybersecurity. Oleksandr provided an example of a company that experienced a data loss due to an attack because the backups were also encrypted by the attackers. He emphasized the importance of developing cyber incident response strategies and regularly testing recovery mechanisms.
“A comprehensive approach to cybersecurity is not just about buying an antivirus or installing a firewall. It is a whole system of processes and practices that should be embedded in the company’s culture,” said Oleksandr.
Investment project development and business consulting — Andrii Borenkov, CFA, Head of Advisory
In his speech, Andrii Borenkov highlighted the significance of thoroughly prepared investment projects and business plans, which are crucial for securing investment. He underscored that inadequate project preparation can prevent a promising idea from obtaining the necessary funding. He emphasized that this is particularly crucial for Ukraine in the context of post-war recovery and collaboration with international donors.
Key points of the speech:
1. An idea does not yet qualify as a project. Business plans or initiatives that are referred to as “projects” frequently do not qualify as projects, as they consist of only a basic idea or concept for a future business. This significantly limits the possibility of obtaining financing and investment, as a potential partner will not be able to assess the project’s prospects. In addition, insufficient elaboration of the business plan limits the project initiator’s understanding of the project’s prospects.2. Key components of a successful investment project.
o Marketing research: The market and its volumes, geography, demand for a product or service, competitor analysis — all this must be clearly justified and supported by numbers.
o Technical implementation: A detailed description of how the project will be implemented, including specific stages, technologies (even at the conceptual level), and timelines.
o Financial model: How will the revenue be generated, what will bring profit, what are the costs and profitability of the project, modeling of different development scenarios.
4. The professional consultants’ role in project preparation. Andrii recommended engaging professional consultants to prepare investment projects. He emphasized that business plans and financial models require considerable analytical work and experience and often take a long time to develop. Involving specialists helps to avoid common mistakes and speed up the process, which significantly increases the chances of successful cooperation with investors.
5. Investment strategies and financing. Andrii also addressed the subject of project financing strategies, observing that external investments or loans alone are not a reliable source of funding. He emphasized the importance of equity, noting that it demonstrates the company’s commitment to its own project and reduces the risks for a third-party investor.
6. Peculiarities of municipal and non-profit projects. For projects lacking a commercial component, a crucial element is the assessment of the socio-economic effect. Andrii underscored that while these projects may not be profitable, economic feasibility and their impact on the development of a region or country are pivotal to donors and international organizations. Additionally, Western methodologies exist that enable the estimation of such economic effects based on individual models.
“The idea may be great, but it won’t become a successful project without a proper business plan and financial model, and you won’t be able to get the necessary funding,” Andrii concluded.
Ukraine needs to learn how to work effectively with documentation and business plans to attract the necessary investments for the economic recovery and development of country as a whole.
The webinar offered valuable insights on strategies to enhance business efficiency, competitiveness, and resilience to modern challenges. The speakers addressed a range of crucial topics, including digital solutions for automating business processes and the key principles of preparing investment projects to attract funding for development.
We discussed the importance of comprehensive cybersecurity, the ability to adapt a business to new conditions, and the importance of the correct approach to creating business plans, which are an important part of attracting investment. Together, we looked at how artificial intelligence and digital tools can become powerful allies in optimizing business processes, from finance to customer communications.
In today’s digital age, it is essential for businesses to be prepared for the inevitable changes that come with digital transformation. Digital technologies are not just tools for growth; they are also a necessity for competitiveness in both domestic and international markets. The solutions we have discussed will help companies not only cope with modern challenges but also become industry leaders.
We would like to express our gratitude to all the participants for their commitment to developing their business and enhancing its competitiveness. Your interest in implementing digital products and new solutions is a significant step towards the company’s success.
Implementing effective solutions necessitates not only expertise but also the backing of seasoned professionals. The team of BDO in Ukraine is ready to offer guidance at every stage of your business’s journey, from digital transformation to the development of investment projects and fundraising. If you aspire to enhance business efficiency, leverage our professional support in implementing innovative solutions or formulating a growth strategy, do not hesitate to reach out. We are dedicated to propelling your business to new heights.
We are eager to collaborate with you and support you in achieving your ambitious business goals!
