Factors leading SMEs to implement a digital transformation strategy and to increase their digital maturity

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Abstract

Digital transformation has become a critical priority for small and medium enterprises (SMEs), especially after the pandemic crisis. Despite progress in upgrading their digital maturity, many SMEs still encounter significant challenges in designing and implementing effective digital transformation strategies. This study investigates the factors that shape SMEs’ digital transformation journeys and their digital maturity. A total of 81 academic papers were collected from three databases (ScienceDirect, EBSCO, Scopus) and analyzed using latent dirichlet allocation (LDA) after appropriate text cleaning and preprocessing. The analysis revealed nine key topics influencing SMEs: dynamic and digital capabilities, emerging tech adoption, strategic transformation intensity, digital processes implemented, extrovert opportunities, performance and capabilities, management’s transition to agile structures, digital vision and orientation, and human resources and digital maturity. These topics highlight the technological, organizational, and resource-related complexity of digital transformation for SMEs. The study contributes to existing research by offering a structured view of the digital transformation landscape in the SME ecosystem and proposes a roadmap to help firms navigate this complexity and enhance their performance and efficiency in the digital era.

Keywords: Digital Transformation, SMEs, Systematic Literature Review, Content Analysis, Grounded Theory

Authors’ individual contribution: Conceptualization — A.K., D.D., E.G., F.K., and D.Kat.; Methodology — A.K., D.D., E.G., F.K., and D.Kat.; Formal Analysis — E.G.; Investigation — A.K., D.D., E.G., F.K., D.Kat., A.A., E.C., T.R., V.A., S.F., K.A., D.Kok., and G.L.; Data Curation — A.K. and E.G.; Writing — Original Draft — A.K., D.D., E.G., F.K., D.Kat., A.A., E.C., T.R., V.A., S.F., K.A., D.Kok., and G.L.; Writing — Review & Editing — A.K., D.D., E.G., F.K., and D.Kat.; Supervision —A.K., D.D., E.G., F.K., and D.Kat.; Project Administration — A.K.; Funding Acquisition — A.K.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: M150, M190, O32

Received: 19.10.2025
Revised: 24.12.2025; 09.02.2026
Accepted: 03.03.2026
Published online: 05.03.2026

How to cite this paper: Kargas, A., Drosos, D., Gkika, E., Komisopoulos, F., Katsianis, D., Andriopoulos, A., Chaniotaki, E., Rokkas, T., Argyroulis, V., Filios, S., Alvertos, K., Kokkinis, D., & Loumos, G. (2026). Factors leading SMEs to implement a digital transformation strategy and to increase their digital maturity. Corporate and Business Strategy Review, 7(2), 72–85. https://doi.org/10.22495/cbsrv7i2art7