Which digitization projects are currently being pursued in accounting and what is the current status? The study "Digitization in Accounting" examines this question for the third year in a row. The study was conducted in cooperation with the Ludwig Maximilian University in Munich. For the new edition, the study's authors surveyed CFOs and accounting managers from Germany, Austria and Switzerland.
One of the study's key findings was that most finance departments are still primarily concerned with preparing for digitization - by standardizing basic systems and workflows, for example. New technologies are spreading only gradually.
One focus of the study this year is the digitization of audits. The authors of the study conclude that companies' expectations of this activity have increased. For example, around three quarters of respondents expect their auditor to provide data analyses in the general ledger and sub-ledger in the near future.
Further results of the study:
- ERP implementations: Almost every second company is planning to convert its ERP system in the next three years. New installations and migrations are about evenly matched.
- Efficiency gains: As a result of digitization, accounting has already become more efficient and transparent. However, a reduction in costs has not yet been observed.
Read the study and get more insights:
