The Current Publication of the KPMG Study Shows: Sustainability and Digitalization in Accounting are on the Rise.
At the beginning of the year, the KPMG organization published the latest results of the study "Digitalization in Accounting" - 2022/2023 edition. Participants in the study are a total of 350 companies, including numerous professionals from the region of Germany, Austria, Switzerland, which were surveyed in the period from 2017-2022. In addition to cyber security and non-financial reporting, the study addresses the question of the current development status and progress of digitization in accounting, as well as different technologies, systems and their degree of implementation.
Significant Progress in Digitization and Paperless Invoice Processing
Home office and location-independent working have among other things ensured that the focus on the digitization of work processes is increasing. In the purchase-to-pay area in particular, 50% of the companies surveyed have already fully automated their processes, and up to 80% have partially automated them. Here, about 50% of the invoices are sent in digital version (e.g. PDF). For electronic invoices in XML or ZUGFeRD format, the share is 12%.
Automated Invoice Workflow for a Higher Level of Digitization
While the payment of invoices is already automated by 87% of the respondents, only 46% of the companies surveyed use a verification and approval workflow to process incoming invoices. This means that just over half of the companies still carry out these processes manually. The results of the study also show that throughput times are significantly improved by automated work steps. This is also in line with the experience and feedback of our customers who use maxflow® invoice management. In order to remain competitive in the future, all companies must take further steps towards digitalization, concludes Jörgen Erichsen. (cf. Haufe News 11.04.2022, Digitization in Accounting)
maxflow® invoice management: SAP-Integrated Invoice Workflow for All Company Specific Requirements.
Our customers tell us again and again how individual needs are required, especially when it comes to digitization. A standard workflow for processing incoming invoices is usually not sufficient to meet these needs and complex processes. It is not only important for companies to adapt the different requirements to the respective company structure, but also for each employee to have different needs and approaches during the work process.
With maxflow® invoice management, we have developed a software solution for processing incoming invoices that can cover any needs and requirements of companies and employees. Through a complete SAP integration, without media discontinuity works, all work steps are fully automated and thus the highest level of digitalization is achieved.
Experience has shown that the ROI is 6 months on average, which not only demonstrates investment security, but also that progress in digitization is worthwhile in any case, not only for large, but also medium-sized companies.
References:
KPMG study: Digitalization in Accounting 2022 - KPMG Deutschland
Haufe News 11.04.2022: Current study on digitalization in accounting | Finance | Haufe
