Industry 4.0 can be interpreted as a business discipline that has led to the automation and digitalization of business systems thanks to Internet of Тhings, Cyber Physical Systems, Cognitive computing, but also Cloud computing that is crucial to the continuous development of Industry 4.0, because Cloud-based technology connects and centralizes information essential for business, and in addition provides an open source platform that improves research for the entire industry. In order to meet customer needs, different industrial branches apply Cloud computing which allows companies to adapt more easily to ongoing technological innovations. Cloud computing with unlimited networking capabilities enables businesses to optimize their business processes and activate their applications, which provide them with data necessary for business analytics. Additionally, thanks to innovative applications on the Cloud platform, personal adaptation to the individual needs of users is made. All of this has also affected the emergence of Cloud-based marketing, which implies the activity of organizations focused on the digital delivery of products and services tailored to users’ individual needs. This paper analyzes the concept of Cloud marketing and defines Cloud marketing platforms that contribute to the optimization of marketing strategies, and the increase in return on investment.

In modern business, achieving a high level of efficiency and optimal company performance becomes crucial for maintaining a competitive advantage. Accordingly, financial benchmarking is an indispensable tool in business evaluation, enabling organizations to systematically and continuously measure and compare their own organizational business processes in relation to the business processes of leaders around the world. Therefore, this paper is dedicated to a deeper analysis of the efficiency and performance of hotels in the Republic of Srpska through the application of financial benchmarking. The goal of the research is to understand the factors that influence the efficiency and performance of hotels in the Republic of Srpska through financial benchmarking, with a focus on identifying value drivers, all for the purpose of improving the company's performance. Through a detailed analysis of financial reports and relevant indicators, the research will provide insight into the current situation in the sector, identify potential areas of improvement and contribute to the overall improvement of the hotel industry's competitiveness in the region. For the purpose of analysis, two hotels in Republic of Srpska were selected that meet the conditions to be the subject of this analysis through financial benchmarking. Accordingly, annual financial reports were used, as well as other data from the stock market related to the shares and dividends of the observed hotels for a period of three years, from 2020 to 2022.

The subject of the paper is assessment of the credit risk of small and medium-sized enterprises (SMEs) in the conditions of the COVID-19 crisis. The paper gives the overview of the theoretical and professional literature on the existing accounting standards related to the assessment of expected loss and banking regulations in terms of capital adequacy, as well as their applicability in the current crisis. Bearing in mind the share of SMEs in total gross domestic product and employment in emerging and developing markets, and dependence of these companies on bank funding, special attention is paid to the researches dealing with the impact of stress tests and an increase in capital requirements on credit supply. Since the paper was written at a time when the COVID-19 crisis was well under way, and the final effects could not be fully analysed, except for only certain projections, future researches will focus on the effectiveness of the existing credit risk assessment models in crisis conditions.