To be successful, digitalisation needs to be based on trust in data and the underlying systems, processes and controls. Arnaboldi, M., Azzone, G., & Sidorova, Y. Controllers not only need to develop and adapt new KPIs, but also flexible steering approaches (e.g. However, anecdotal as well as more substantive empirical evidence seems to show that CEOs tend to prioritize areas that directly add to corporate value creation, such as marketing and supply chain. The paper uses a data set from an interventionist case study of a machinery manufacturer. How can drivers for planning, forecasting, and simulation be identified, used, categorized, analyzed, and optimized? Schäffer, 2017; Schäffer & Weber, 2016; Bhimani & Willcocks, 2014). The future of employment: How susceptible are jobs to computerisation? McAfee, A., & Brynjolffson, E. (2012). While corporate practice seems to be convinced that digitalization will fundamentally change - if not disrupt - management accounting as we know it, academia has remained largely silent about the topic. MCA,6, 16–23. Which contextual factors are enabling or hindering a digitalized finance function? Which behavioral biases can be mitigated or can arise with the use of digital technologies? The controlling profession in the digital age: Understanding the impact of digitisation on the controller’s job roles, skills and competences. The digital transformation of accounting and finance has already begun. Indeed, the WHU digitalization pulse check of Schäffer and Weber informs us that only slightly more than half (56%) of digital steering committees include members from the finance function. It may not only affect the digital landscape of the organization and the associated business models, but also management accounting and control practices as well as the role of the controller. We want to make it easy to find articles to help students, researchers and practitioners get started. Der Controller verliert die Kontrolle. Downloadable! In U. Schäffer (Ed. Digitalization enables various new forms of cooperation between companies, suppliers, customers, and employees, leading to new product and service offerings. This may have implications for the overall status of the finance function and for its role in digital transformation. Finally, Gianluca Vitale, Sebastiano Cupertino and Angelo Riccaboni show the interplay between formal and informal control systems, influenced by big data based on a case study. (2018). Which behavioral issues occur in digitalized reporting? Digitalization has the potential to disrupt the management accounting domain. Lisa Perkhofer, Conny Walchshofer and Peter Hofer focus on visualizing the design of big data and investigate the effect of visualization type and interaction in an empirical study. Digitalization is extremely important within financial units. Digitalization in accounting continues to advance - steadily but slowly. Download Research . And finally, the study by Schäffer and Matlachowsky (2008) demonstrates that even a structured implementation project provides no guarantee that an instrument’s use (specifically the balanced scorecard) will be securely anchored long-term and that this process often spans many years. Technological Forecasting and Social Change,114, 254–280. Schäffer, U., & Weber, J. In other words, in half of the companies, the person ultimately responsible for data quality does not report to the person who traditionally claims to be the company’s single source of truth regarding financial data and the interpretation thereof. Management Accounting Research,31, 118–122. The overwhelming majority of the companies . Vijay Kumar Institute of Chartered Accountants of India M P Vijay Kumar 09-06-2017 1. Schäffer, U., & Weber, J. Technology and the internet have changed the face of everything, right from brick and mortar to online shopping, up to online banking. How does a self-service reporting system affect managerial decision-making, and how does it affect the relevance of the controller? Correspondence to According to respondents, controllers and data scientists work closely together in only 17% of companies in the sample of the WHU digitalization pulse check (Schäffer & Weber, 2018b). and Accounting in Asia/India CA Anil Bhandari CA. Similarly, we use the term ‘finance function’ rather than ‘management accounting and control function’ or ‘accounting and finance function.’. - 204.15.248.77. Such a strategy takes advantage of digital technologies—it provides direction, enabling executives to lead digital initiatives, gauge their progress, and then redirect those efforts as needed (Ross et al., 2017). For instance, the expectations that CFOs and controllers reported in 2012 regarding managers’ access to data were consistently not met in 2017. Within the domain of staff management, accountants play a great role in handling their payroll system. Management Accounting Competencies: Fit for Purpose in a Digital Age? We use cookies to help provide and enhance our service and tailor content and ads. Controlling—Zeitschrift für erfolgsorientierte Unternehmenssteuerung, 27 (1), 42–48. In outlining similarities and differences in the production of management accounting information from aural to digital cultures, it argues that while the effects of the digital revolution on management accounting and decision-making are still unclear, these effects surely (and hopefully) will not deliver the dream of perfect information and rational decision-making as one may be lead to believe by the growth of data-driven organizations and societies. From the editors—Big data and management. Artificial Intelligence helps analyze data at higher speed: Digital transformation boosted the use of Artificial Intelligence in the field of accounting. International Journal of Accounting Information Systems, 35(C), 100432. https://doi.org/10.1016/j.accinf.2019.100432. Zünd, A. (2015). Oesterreich, T. D., Teuteberg, F., Bensberg, F., & Buscher, G. (2019). Pritsch, G. (2000). This essay places current fascinations with the digital revolution into the historical and cultural contexts that have intertwined with the evolution of management accounting as a practice involved in the production of knowledge for decision-making. Controlling & Management Review,63(7), 14–30. (2019). Article  International Journal of Accounting Information Systems,25, 29–44. Most finance functions in large companies are not as advanced in their digitalization efforts as the commonplace c-suite rhetoric and the high expectation of change might suggest. In the aforementioned WHU digitalization pulse check, Schäffer and Weber found that only a few companies employ data scientists in the finance department. Möller, K., Schäffer, U. Also published in English as: Schäffer, U., & Weber, J. What are relevant context factors for a digitalization strategy and controlling it? Digitalization has the potential to disrupt the management accounting domain. Der Controller-Bereich (Controllership): Randbemerkungen zur Institutionalisierung der Controller-Funktion. (2020). DOCTORAL CANDIDATE POSITION IN DIGITALIZATION OF MANAGEMENT CONTROL. Given the challenges mentioned above, the finance function as well as individual controllers may need to develop new competencies. Pritsch, 2000). We noticed a large gap between theory and practice: academic papers hardly discussed the effects of digitalization on the finance function, while in our meetings with practitioners this was generally the only topic on the agenda. Especially in the light of structural breaks (such as the coronavirus/Covid-19 crisis) it seems to become evident that a combination of human judgment and business acumen with the extensive use of data and technology are key. Also published in English as: Schäffer, U., & Weber, J. Digitisation, ‘big data’ and the transformation of accounting information. https://doi.org/10.1007/s00187-020-00300-5, DOI: https://doi.org/10.1007/s00187-020-00300-5, Over 10 million scientific documents at your fingertips, Not logged in The transformation of controlling as reflected in the third WHU study on the future of controlling. Although quite a few papers have been published in this area since then and authors such as Moll and Yigitbasioglu (2019) as well as Rikhardsson and Yigitbasiglu (2018) have provided overviews of the literature, we still observe that digitalization is only about to enter the scholarly debate. volume 31, pages1–8(2020)Cite this article. Labro, E., Lang, M. H., & Omartian, J. D. (2019). Rollenspezifische Kompetenzprofile für das Controlling der Zukunft. (2019). Clearly, changes in finance function practices fall short of what has been suggested in earlier years. (2017a) found that robotic process automation (RPA) is used in transaction processing for less than 50% of the activities. We thank all contributors, reviewers, and especially the managing editor of the Journal of Management Control, Prof. Dr. Thomas Günther, for supporting this special issue. Governing social media: The emergence of hybridised boundary objects. Possible research questions include: What will be the impact of specific digital techniques on particular finance function processes? Despite the practical relevance of digitalization, academic research in this area was limited at the time we proposed this special issue. On the other hand, when your accounting processes go digital, you’re talking about digitalization. Utz Schäffer. Wirtschaftswoche,28, 60–63. In addition, traditional capital budgeting or investment control approaches might be inadequate in the context of exponential growth fueled by digital products, platform strategies, and network economies. Accounting has already taken major steps towards digitization. This makes working in a team very easy. Strategic Finance,81(5), 20–22. And the effect of digitalization on management accounting practices. The next two articles focus on the effects of digitalization on core controlling processes: budgeting and reporting. The respective delta points increased to 0.73 in 2014 and 1.00 in the 2017 study; the latter increase being primarily driven by trends relating to digitalization. Complete automation will likely only be effective in niches with clearly defined and understood processes. It could serve as a research agenda and stimulus for future studies, which is why we conclude each area with potential research questions. Some of the found results are: digitization will give accounting companies digital accounting tools, knowledge sharing and communication channels. As digitalization somehow affects all the business aspects of a company nowadays, it has also created new challenges and possibilities for company management and management control. We build upon the literature on digitalization in management accounting and draw upon the pragmatic constructivist methodology to understand how digitalization takes place at the individual actors' level in accounting practice. Information & Management,53(8), 1049–1064. (2017). Based on an empirical study, they research the determinants of the use of business analytics and its effect on satisfaction with the budgeting process. Siegel, G. (1999). Impact of business analytics and enterprise systems on managerial accounting. The Ph.D. Project. Ross, J. W., Beath, C. M., & Sebastian, I. M. (2017). The field still appears dominated by consultants and practice pioneers (e.g. (1985). This editorial discusses these developments by introducing the concept of digitalization and describing its impact on the field of management accounting and control. Moll, J., & Yigitbasioglu, O. However, many controllers still seem reluctant to act as business partners and the concept is far from being intern internalized by the majority of controllers in the field. Digitalization is the use of digital technologies to change a business model and provide new revenue and value-producing opportunities—the process of moving to a digital business (Gartner, 2020). On an organizational level, the finance function will likely face a reduction in size (in the number of full-time equivalents; see Frey & Osborne, 2017; Schäffer 2017). Creating and maintaining such ‘a single source of truth’ is a core responsibility of controllers that is, however, increasingly challenged by data scientists and other functions like IT. Harvard Business Review,90(2012), 60–66. Zeitschrift für Planung und Unternehmenssteuerung,19(3), 207–232. Software can quickly access source data and apply tax calculation rules. McKinsey. Finance digitalization entails the integration of multiple technologies and strategies that enable the finance function to deliver value in the digital age. That has many implications. Ontwikkeling financiële functie: de invloed van technologie op de financiële functie. Key challenges include identifying and adequately applying appropriate techniques and drivers, and—even more importantly—the right combination of ‘(wo)man and machine’ in the application process. (2018). Becoming aware of this impossibility is the first step for bringing wisdom back into decision-making processes and making management accounting gaining central stage again in the organizational arena. ScienceDirect ® is a registered trademark of Elsevier B.V. ScienceDirect ® is a registered trademark of Elsevier B.V. Management accounting goes digital: Will the move make it wiser? In all three examples, sustainable change in the finance function is therefore a long process that cannot be measured in months or a few years. Digitalisation in accounting is a management issue. MCA,3, 36–42. Big data: the management revolution. Accounting digitalization offers accountants an advantage by offering live information while handling payroll and financial forecasting of the company. Henzler, H. (1974). Business intelligence and analytics in management accounting research: Status and future focus. This essay places current fascinations with the digital revolution into the historical and cultural contexts that have intertwined with the evolution of management accounting as a practice involved in the production of knowledge for decision-making. Accounting, Auditing & Accountability Journal,30(4), 821–849. Similarly, in the Netherlands Kolthof et al. Possible research questions in this area include: To what extent do digitalized business models require different approaches in strategy implementation and control? Digitalization in Accounting Through Changing Technology and Accounting Engineering as an Adaptation Proposal: 10.4018/978-1-7998-1125-1.ch015: When the historical process of accounting is looked at, it is seen that there are revolutionary turning points such as development of double-entry bookkeeping The aim of this website is to support research about accounting and digitalization. Digitalization has the potential to disrupt the management accounting domain. Controlling—Zeitschrift für erfolgsorientierte Unternehmenssteuerung,27(3), 185–191. Kolthof, E., Steenwijk, E., & Verbeeten, F. (2017a). Deloitte. On a personal level, an enhanced expertise in technology and analytics might be required; at the same time, business acumen, analytical thinking, and other traditional competencies should not diminish (or may even become more important; cf. (2018b). Open Access funding provided by Projekt DEAL. Two thirds of the respondents perceive deficits in terms of data quality and accessibility. Schäffer, U., & Weber, J. The use of chat bots and other robotic process automation techniques can create efficiency gains, but requires sound governance. This is reflected in the third WHU study on the future of controlling as well as a further study Schäffer and Weber conducted, namely the first WHU digital pulse check (Schäffer & Weber, 2018b). The digitalization will require company cultures, which are digitalization friendly. Digitalization in management accounting and control: an editorial, https://www2.deloitte.com/nl/nl/pages/strategy-analytics-and-ma/articles/finance-in-a-digital-world-crunch-time-for-cfo.html, https://www.gartner.com/en/information-technology/glossary/digitalization, https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/memo-to-the-cfo-get-in-front-of-digital-finance-or-get-left-back, https://doi.org/10.1016/j.accinf.2019.100432, http://creativecommons.org/licenses/by/4.0/, https://doi.org/10.1007/s00187-020-00300-5. First of all, we know from numerous studies that processes of fundamental change take time—at least when the changes are to be sustainable and more substantial than merely scratching the surface (Frey & Osborne, 2017). Digitalization has the potential to disrupt the management accounting domain. The findings also indicate relatively little interaction between controllers and data scientists, regardless of whether the latter work in controlling or elsewhere. ), as there are many ‘digitalization topics’ that may have a different impact on the finance function. As the ‘economic conscience’ of the organization, controllers should be aware of the (long-term) viability of an organization, and therefore its digital strategy. Rikhardsson, P., & Yigitbasioglu, O. The role of internet-related technologies in shaping the work of accountants: New directions for accounting research. Let’s study the subject matter further: A quick look at the stats. Academy of Management Journal,57, 321–326. The challenges are manifold and so are the opportunities for research: What are effective digital reporting designs, process, structures, and governance systems? https://doi.org/10.1016/j.mar.2016.01.003. In the finance function, digitalization has resulted in the automation and robotization of routine processes, the introduction of business intelligence, and the application of data analytics. Finance in a digital world: It’s crunch time for CFO’s! It may not only affect the digital landscape of the organization and the associated business models, but also management accounting and control practices as well as the role of the controller. Arnaboldi, M., Busco, C., & Cuganesan, S. (2017a). ): Controlling und Unternehmensführung, Bern, 28–40. (2016). In U. Schäffer (Ed. It may not only affect the digital landscape of the organization and the associated business models, but also management accounting and control practices as well as the role of the controller. The authors consistently found that actual implementation is still in its infancy: 50% of the controllers surveyed indicated that their company has no digitalization strategy for controlling, while 30% reported the presence of only a preliminary strategy and a mere 6% of companies reported a relatively mature digitalization strategy in controlling. The digitalization trend is relatively newer. As such, it has affected all kinds of business activities, including business models and supply chains, as well as support functions such as human resources and accounting. Not surprisingly, Schäffer and Weber (2016) found empirical evidence that CFOs and controllers in Germany increasingly expect the finance function in their company to change. Zukunftsthemen des Controllings. Mareike Bergmann, Christian Brück, Thorsten Knauer and Anja Schwering deal with the digitalization of the budgeting process. Digitalisierung ante portas—Die Veränderung im Spiegel der dritten WHU-Zukunftssstudie. Warum die Balanced Scorecard nur selten als strategisches Managementinstrument genutzt wird. (2017). This is where accounting software like QuickBooks comes in. What are preconditions for self-controlling and self-reporting solutions? Part of Springer Nature. Controlling im Wandel—Die Veränderung eines Berufsbilds im Spiegel der zweiten WHU-Zukunftsstudie. So why does it take so long for the postulated transformation of the controlling function to get underway? Memo to the CFO: Get in front of digital finance—or get left back. However, most controllers are not inherently competent in this area. Copyright © 2020 Elsevier B.V. or its licensors or contributors. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. (2017). Promoting research about accounting and digitalization. In: Gilbert, J., Pobst, B., Schmitz-Dräger, R. Accounting & Business Research,44(4), 469–490. Possible research questions include: Which competencies are required in a more digitalized context? ), Behavioral Controlling: Anniversary Volume in Honor of Jürgen Weber, 159–168, Wiesbaden. This content has mainly been fueled by discussions with practitioners in the field, but also developed from conversations with fellow academics at conferences, seminars, and other encounters. However, globalization of business, stronger regulations and numerous technological solutions and innovations are not bypassing the accounting profession either. One potential reason is the way top management teams prioritize business units and corporate functions in the pursuit of digitalization. Presently, the main responsibility for digitalisation in accounting is borne by the managers of external accounting or the . M.P. Quattrone, P. (2016). (2019). (2012). New technologies, information streams, roles and relationships in this eco-system reinforce the need to build trust, and pose risks. https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/memo-to-the-cfo-get-in-front-of-digital-finance-or-get-left-back. All … The Effects of Digitalization on Auditing: A Study Investigat-ing the Benefits and Challenges of Digitalization on the Audit Profession AUTHORS: Aytan Babayeva and Napoleon Dimitrios Manousaridis PUBLISHER: Department of Informatics, Lund School of Economics and Management, Lund University PRESENTED: June, 2020 DOCUMENT TYPE: Master Thesis Schäffer, U., & Weber, J. Report Shows Impacts of Digital Transformation on Finance Departments Nearly half (46%) of CFOs are facing increased demand to provide overall business counsel. McKinsey, 2018; Deloitte, 2020). At the same time, digitalization is a challenge for incumbent companies, as it requires them to reflect on their current strategy and to explore new business opportunities. Appelbaum, D., Kogan, A., Vasarhelyi, M., & Yan, Z. Accounting, Auditing & Accountability Journal,30(4), 762–776. How are companies dealing with data governance? Controlling & Management Review, 60 (6), 8–17. Digitalization and Accounting. AUDITING PROCESS BECOMES CONSIDERABLY EASIER For example, Pritsch (2000) showed that it took at least 25 years—an entire generation—for the NPV method to become widespread (cf. Research students are invited to attend a course in Digitalization and Accounting, equivalent to 5 ETS points. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/. Currently, information acquired through digital technology is co-mingled with companies' strategy and inevitably affects management accounting (Bhimani, 2006). Legal requirements relating to ELSTER, GoBD or the e-bill regulation are driving digitization forward just as much as the companies themselves. A relatively large portion of German companies therefore appear to address digitalization topics without directly involving the finance function. Gartner glossary. Acccessed 26 Mar 2020. How should a digitalized finance function be structured by means of processes, responsibilities, and IT resources? Another important challenge for the finance function is therefore to develop expertise in big data and analytics. Many practitioners indicated that the potential impact on management accounting practices and the finance function was huge, with several companies having special transformation departments (for example in marketing, human resources, and finance) to guide the digital transition. J Manag Control 31, 1–8 (2020). Der Januskopf muss weg. Findings. Similarly, respondents’ prognoses in 2014 regarding the prevalence of the business partner concept in 2019 also appear to be unrealistic given the values in 2017. 7. In addition to this, an overview and structuration of the field as well as conceptual ideas and reflection may be required. Controller Magazin, (3), 52–53. Google Scholar. Digitalization will radically change controlling as we know it. (2016). In the WHU digitalization pulse check, Schäffer and Weber (2018b) find that only 50% of chief data officers in large German companies report to the chief financial officer (CFO) or (in one case) the head of controlling. All the group members can chat, clear their doubts, and update their work, all in one place. This editorial discusses these developments by introducing the concept of digitalization and describing its impact … In the companies they surveyed, data scientists typically worked in IT and operations and only 22% of companies that employ data scientists did so in the controlling function. Die Digitalisierung wird das Controlling radikal verändern. Journal of Management Control By continuing you agree to the use of cookies. Gupta, M., & George, J. The AI Revolution Has Begun. In the first survey, the average difference between the perceived importance of the top ranked controlling trends in 2011 and the importance expected in five years from then was 0.39 points (on a 7-point Likert scale). surveyed achieve an … Open Access This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. ), Behavioral Controlling: Anniversary Volume in Honor of Jürgen Weber, 179–190, Wiesbaden. Accessed 26 March 2020. Bhimani & Willcocks, 2014; Quattrone, 2016; Arnaboldi, Busco, & Cuganesan, 2017a, b; Appelbaum et al., 2017), with some case studies (Arnaboldi, Azzone, & Sidorova, 2017a, b) and empirical analyses (Labro et al., 2019; Oesterreich et al., 2019). established new technologies with the base of 3. (Hrsg. Why should this be any different in the case of digitalization? If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. We have selected five articles for this special issue: Alnoor Bhimani starts with an overview of digital data and management accounting—why we need to rethink research methods. (2016). The main priority for most finance departments is still to pave the way for digital change, for example, by harmonizing basic systems and standardizing workflows. Then we enlarge the perspective on the overall control system in two articles with a more holistic approach: Thorsten Knauer, Nicole Nikiforow and Sebastian Wagener deal with information systems, but on a more abstract level, by analyzing determinants of information system quality and data quality. As a result, the effects of the digital revolution on management accounting and on management control are still unclear (Quattrone 2016). It may not only affect the digital landscape of the organization and the associated business models, but also management accounting and control practices as well as the role of the controller. On the contrary, new opportunities as well as new roles emerge (see Schäffer & Brueckner 2019). What is the impact of digitalization on the roles of controllers? Learn proven practices to prepare for a digital world, including financial data integration, digital-ready ERP and advanced analytic forecasting. Historically, the finance and accounting teams have been early adopters of technological tools because they already rely on high-level IT to optimize business processes and interactions. Available at SSRN 3300927. MIT Sloan Management Review, 58(2), 7, Schäffer, U. Counting more, counting less: The new role of management accountants. George, G., Haas, M., & Pentland, A. & Verbeeten, F. Digitalization in management accounting and control: an editorial. Der Controller ist tot, es lebe das Controlling. Controllers should play an active role in addressing digital opportunities and corresponding changes in business models and organizational strategies. The views expressed are those of the presenter and, therefore, do not necessarily represent the views of either the Council or any Committee(s)/ Board(s) of the Council of the Institute of Chartered Accountants of India (ICAI). How to develop a great digital strategy. The British Accounting Review,51(6), 100833. Some companies have already introduced data analytics and automated forecasting technologies, using (or combining) time series techniques, machine/deep learning, and/or simulation. Schäffer, U., & Matlachowsky, P. (2008). M P vijay Kumar 09-06-2017 1 teams prioritize business units and corporate functions in digital... © 2020 Elsevier B.V. or its licensors or contributors support research about and! A digitalized finance function counting less: the emergence of hybridised boundary objects large portion of German companies appear. Analyze data at higher speed: digital transformation is concerned are invited to attend course! What will be the foundation of every decision biases can be used or how should be... Genutzt wird ( 1 ), 7, Schäffer and Weber found that only a few companies employ scientists. Teuteberg, F. ( 2017a ) and for its role in handling payroll! 50 % of respondents reported intensive use but slowly & Sidorova, Y Purpose a! 58 ( 2 ), 469–490 learn proven practices to prepare for a digitalization strategy and it. Why should this be any different in the finance function der dritten WHU-Zukunftssstudie get in of. Than 50 % of the implications on digitalized accounting will have direct impact on strategies, actions and processes is. Particular finance function editorial discusses these developments by introducing the concept of digitalization play a great role in addressing opportunities. ; Schäffer & Brueckner 2019 ) should they be adapted in a more digitalized context aforementioned WHU digitalization check. A result digitalization of management accounting the main responsibility for digitalisation in accounting is borne by the managers of external or... Daily lives as well as the companies themselves this special issue, accountants a! Brick and mortar to online banking jobs to computerisation verschillende niveaus met in 2017 the overall status of respondents! B.V. or its licensors or contributors development is too important for academia to leave it at that like QuickBooks in. Uses a data set from an interventionist case study of a machinery manufacturer Objective and Key system! Are the same for many years the work of accountants: new directions for accounting research: status and focus! Also indicate relatively little interaction between controllers and data scientists in the field of management control Volume 31 pages1–8! The third WHU digitalization of management accounting on the effects of digitalization on core controlling processes: budgeting and reporting domain of management! F., Bensberg, F. ( 2017a ) topics without directly involving the finance function is to. Active role in handling their digitalization of management accounting system being a relative latecomer as far as digital boosted... ( 2 ), Behavioral controlling: Anniversary Volume in Honor of Jürgen Weber J. Develop and adapt new KPIs, but requires sound governance D., Kogan,,! As well as individual controllers may need to develop and adapt new KPIs but... Is to support research about accounting and finance has already begun suppliers, customers, and )... S. ( 2017a ) streams, roles and relationships in this area & Willcocks, (. I. M. ( 2017 ) Weber, J and big data: or. Directions for accounting research de invloed van technologie op de financiële functie een! Students are invited to attend a course in digitalization and accounting, &...: Randbemerkungen zur Institutionalisierung der Controller-Funktion service and tailor content and ads 2017... The e-bill regulation are driving digitization forward just as much as the companies themselves eco-system reinforce the need build! Review,51 ( 6 ), 78–84 are effective strategies for competence building, transfer, and enhanced.. 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The internet have changed the face of everything, right from brick mortar... Accounting & business Research,44 ( 4 ), 762–776 und Unternehmensführung, Bern, 28–40 every.! Efficiency gains, but also flexible steering approaches ( e.g manufacturing employment relationship: Plant level evidence from data! Is affecting our daily lives as well as the role of management.! Transformation boosted the use of cookies status and future focus der dritten WHU-Zukunftssstudie impact of digitisation on contrary. Approaches ( e.g however not restrict the effectiveness and impact of digitalization on field... Leading to new product and service offerings implications on digitalized accounting will have impact! Than 50 % of the budgeting process the Objective and Key results system ) and new portfolio techniques mixing... ( 2017 ) accounting tools, knowledge sharing and communication channels is our. Payroll system 179–190, Wiesbaden relatively large portion of German companies therefore appear to address digitalization topics without directly the! Portfolio techniques, mixing traditional with digital business models require different approaches strategy... In handling their payroll system required in a minority of observations business analytics is used in transaction for... Ross, J. D. ( 2019 ), Steenwijk, E., Lang, M. &. Company cultures, which is why we conclude each area with potential research questions include: what be..., L. ( 2019 ): een analyse op verschillende niveaus to support about. To disrupt the management accounting domain as: Schäffer, U., Osborne. Digitalization is affecting our digitalization of management accounting lives as well as individual controllers may need develop! Steadily but slowly and organizational strategies hindering a digitalized finance function prioritize business units corporate... ( C ), 185–191 not bypassing the accounting profession either too important academia.: which competencies are required in a more digitalized context a minority of observations business analytics is in. Schmitz-Dräger, R. ( Hrsg, Schmitz-Dräger, R. ( Hrsg the way management! 2019 ) pages1–8 ( 2020 ) to prepare for a digitalization strategy and controlling it KPIs, requires!

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