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Category: Digitalization

Digitalization and transformation are on everyone’s mind. Yet we often encounter very different definitions of these terms. The reason is that every midsize company is at one level or another in terms of digitalization.

Fabian Reinhardt

Consolidated Financial Statements for SMEs: A Focused Look at your Group of Companies

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Do you have a majority shareholding in other companies? Are there economic interdependencies between parent companies and subsidiaries? Then your group of companies has reached a level of complexity where it is worth considering consolidated financial statements for the group of companies. Viewing all the companies in the group as one company (consolidation) shows the economic situation at a glance. This makes it easier to control the group of companies. In many cases, banks or investors demand more comprehensive reporting in the form of consolidated financial statements when the group of companies reaches a certain level of complexity, since individual observations are time-consuming and can lead to incorrect assessments without detailed information. And if a group of companies reaches a certain size, § 290 ff. of the German Commercial Code (HGB) applies. German Commercial Code (HGB), the obligation to prepare consolidated financial statements applies.

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Katharina Auer

No Clarity? Digitalization in Accounting boosts Transparency

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No figures again? No up-to-date evaluations again? In many medium-sized companies, things are not running smoothly in the accounting department. The effort required to enter, print and check incoming invoices and receipts is often high and involves a lot of manual work. Staff shortages add to the stress. It is not uncommon for accounting to lag behind what is happening in the company. Then the entrepreneur lacks an overview of the economic development of his company – which makes decisions more difficult and involves risks. Every entrepreneur is familiar with the modern and sustainable solution, the digitalization of processes. However, the concrete implementation is lacking in many places. The digitalization of the accounting system is not a free skate for companies, but a duty, otherwise the company cannot be actively managed.

Runs: Digitized Processes save Time and Resources

Digitization of accounting aims to automate routine activities and simplify individual process steps. And it succeeds quite pragmatically. Whether it’s invoice receipt, invoice approval, archiving or invoice issue, reminders or automatic account assignments: With the right tools, accounting processes can be managed efficiently, on a daily basis and transparently. To do this, the first step is to revise the processes: What needs to be changed, what needs to be redone and what can be retained? This is the core of digitalization in accounting, because if only the manual path of a paper invoice is digitalized, this does not lead to an improved process. In the course of digitalization, the opportunity should be taken to really improve processes and structures. Subsequently, based on the requirements, it can be clarified which tools can be used for the respective company. For example, this could be new accounting software, a document management system with font recognition. The right, GoBD-compliant tools significantly simplify the workflow through automated processes and can also be implemented as a first step as an isolated solution with manageable effort.

Less Effort, more Capacity – the Advantages of Digitalization:

Digitized accounting works quickly, avoids errors and reduces the use of human resources. Cooperation with tax advisors, auditors and banks can be noticeably facilitated. On the other hand, management has an overview of the status of liabilities, receivables and its own liquidity through up-to-date evaluations. With a custom-fit solution, medium-sized companies can achieve efficiency gains and information advantages.

When THE MAK`ED TEAM supports its medium-sized customers in the digitalization of their accounting, pragmatic recommendations for action are developed on the basis of the individual starting conditions and the company’s goals. We have a high level of expertise in the establishment of new structures and the transformation of accounting and finance and know the decisive parameters for a successful and efficiently implemented digitalization.

Read more about accounting and digitalization here:

Accounting Compliance as a Basis for the Annual Financial Report

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Katharina Auer

Digitalization in SMEs: Successful Introduction of HR Management Tools

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Every company knows that it is no longer possible without digital tools – especially in HR management. But how do you implement such a digitization step in a medium-sized company? One of our customers, a medium-sized mechanical engineering company with its own production facilities and around 150 employees, decided to take the step forward with us and digitize its HR processes.

The particular challenge was that, at the start of the project, a lot of data and information was still in paper form and very little in Word or Excel. In addition, the company’s resources for this project were very limited. Despite the hurdles, the software was successfully implemented, and the entire company benefited greatly. Many processes have been automated since the system was introduced, which has freed up valuable personnel and financial capacities in the company. Managers, HR managers and employees benefit from greater transparency and 24/7 access to the data they need for their tasks.

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Katharina Auer

Big topics – very exclusive: “Event & Dialogue” 2022

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As the management or HR director of a medium-sized company, do you want to digitize your HR management processes? Then we invite you to our Event & Dialogue “HR: Digitalization in Practice” on July 20, 2022. In cooperation with Deinzerconsult, we will devote this evening to the topics surrounding the digitalization of HR management: How do you set up the requirements for the selection of a tool? How do you select a system? How do you implement it? We will present and discuss trends, tips and tools and address the individual situation of your company with recommendations for action in interactive sessions. In addition to new impulses and exciting discussions, you can expect the following topics:

  • Overview & trends of HR digitalization
  • Selection & implementation of suitable tools
  • Examples & tips from practice
  • Development of solutions & recommendations for action

Finally, we will round off the evening together with culinary delicacies and a beautiful view. We look forward to seeing you – and to a great “Event & Dialogue”!

Save the Date: July 20, 2022, starting at 5:00 p.m. at Äußere Sulzbacher Str. 124, 90491 Nuremberg, Germany.

If you are interested, you can register here …

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Katharina Auer

About time: Digitalize HRM

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Does HR management still handle a lot of time-consuming, administrative work? Then it’s high time to change that. Societal changes such as the shortage of skilled workers or digitalization are presenting human resources management (HRM) with a major change process. HR must continue to evolve – just like all other areas of business. And technologies make an important contribution to this development. Digitization makes many of the processes more consistent, transparent and error-free. It is a must for all companies that want to develop positively and ensure future-proof HR management. In the HR area, the right software can take away many administrative, time-consuming processes, so that HR managers can devote more time to their employees. And the employees themselves also benefit in many ways from digitized and individualized processes in their everyday work. But as often as one hears and reads about the need for digitalization, so little has actually happened in many companies.

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Katharina Auer

Modern education centre for professionals in Haiti – a practical report

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One of our core competencies is the development, implementation and management of continuing education programs, incubator centers and vocational training centers.

The promotion of skilled workers and the qualification of (not only) young people belongs to the multifaceted area of corporate learning, which is the focus of our attention alongside management and development.

As part of the practical example published by iMOVE, we strategically realigned the continuing education centre of the private Université Quisqueya. The concept of the educational centre was revised, the educational offer was modernised and extended by digital possibilities. A language centre, the QM system and a train-the-trainer programme have also been integrated.
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Katharina Auer

What does “digital competences” mean for your organization?

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Everyone is talking about companies having to develop the skills of their employees for the future. This also means the development of digital competences. But what is behind it? Digital competencies can look differently in every company – depending on the industry and the use of systems. For all of them, however, it is true that on the one hand, cross-occupational digital competences are involved and, on the other hand, occupation-specific digital competences.

The cross-occupational ones are composed as follows:

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Katharina Auer

Educational Revolution! Working 4.0! Digital Transformation!

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The digitalization is rolling like an avalanche through the industrial countries at the moment. Everything is absorbed and changes the complete environment or society through this. This digitalization, the so-called digital transformation or also revolution, running through our country – for my taste actually much too slow – changes us and our complete culture.

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Katharina Auer

Digital Media Competence – or how to miss the boat

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Much is reported and discussed lately over the so-called digital media and the competence connected to that. But what is standing behind it? What is part of the digital media and what kind of competence one must acquire?

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Katharina Auer

Digital Transformation in Human Resources

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A digital transformation doesn’t contain the use of digital technologies in the first step but the development of a strategy, which contains infrastructure, organization models and the quality of the management. In the meantime, the digital transformation should have arrived everywhere. Also in the HR (Human Resources) department, at least in the use of language and the expectations to this.

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