DIGITALISATION
Keywords such as “digitalisation”, “big data” and “data analytics” are also omnipresent in the financial sector – regardless of company size and industry. Digitalisation will bring major changes to all companies. Besides the change in entire core business models, digitalisation particularly encompasses support functions such as accounting, controlling and management. The focus of accounting digitalisation is the uniformity of the basic systems used in accounting, as well as a routine evaluation of the quality and accuracy of master data. By contrast, real-time reporting, cloud computing or complex big data analyses do not, as yet, play a large role for most companies. The expansion of interfaces to external systems such as suppliers and banks is also considered to be important. The possibility of automating routine processes to the greatest extent possible with the aid of digital technologies is being pursued by companies with high priority, however, at present, this has not been fully exploited. Apart from this focus, companies have, in particular, increased the speed of reporting and accelerated the digitalisation of end-to-end processes. Cost savings were rarely the focus here.
The optimisation and digitalisation of process is described as laborious and complex, repeatedly resulting in conflicts in the internal allocation of personnel. Presently, the main responsibility for digitalisation in accounting is borne by Accountancy Firms. Approximately majority of the companies are in the middle of applying digital solutions and the management of digitalisation within the accounting system. Through the use of digital technologies, companies also expect accountancy firms to be more efficient and also of increasing quality.
The optimisation and digitalisation of process is described as laborious and complex, repeatedly resulting in conflicts in the internal allocation of personnel. Presently, the main responsibility for digitalisation in accounting is borne by Accountancy Firms. Approximately majority of the companies are in the middle of applying digital solutions and the management of digitalisation within the accounting system. Through the use of digital technologies, companies also expect accountancy firms to be more efficient and also of increasing quality.
