Digitization of business processes

Digital transformation continues to be both a challenge and an opportunity for SMEs. The use of new technologies enables companies to improve their customer approach and experience as well as to develop new business models and products for further growth.

Digitization in Finance and Accounting

In finance and accounting, the goal of digitization is to increase efficiency through process optimization (Operational Excellence in Finance) to reduce costs and improve quality. A modern technological backbone is the basis for switching from analog to digital workflows and methods. For process optimization with innovative technologies, the employees involved must have good knowledge of processes, IT and methods. People, systems and processes must be coordinated as closely as possible. The better the internal organization in finance and accounting, the more efficient and productive the management can be in implementing the strategy.

Advantages of digitization

Digital pioneers profit from the fact that they create hidden competitive advantages in their operations that the competition cannot immediately comprehend. There are many ways to generate operational benefits through the use of digital technologies in finance and accounting.

Concrete starting points are e.g:

  • Electronic signature (online contract management)
  • Electronic processing of incoming invoices (Machine Learning, AI)
  • Electronic processing of outgoing invoices
  • Automation of the preparation and consolidation of annual accounts (Smart Accounting)
  • Automation Reporting and Analysis (Business Intelligence, Big Data)
  • Mobile Reporting and Data Management (App)
  • Predictive Planning (Algorithms)
  • Central data management and systems (ERP, Cloud)


Digital pioneers are more successful and usually have significantly better key figures.

You want to start? Then contact us today.

Call us at +49 800-390 90 300 to discuss how RSM can help you digitize and optimize your business processes. Or send us an e-mail to tmc[at]rsm.de.

 

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