Digitization is still a focus of discussions and is also relevant in the field of accounting. According to the latest surveys, almost 90 percent of typical job description activities of a financial accountant can already be automated today. But not every automation is economically viable.
KPMG conducted the study “Digitization in Accounting” for the first time in Austria, which follows on from the already established annual DACH study. An online survey with 138 participants and the results of eleven in-depth interviews with decision-makers in leading Austrian companies provided the information for the database. Based on these results, the most important findings of the study contain four main topics: goal-oriented activities, progress through change, transparency and the focus on people.
Many Austrian companies are pursuing their own digitization strategy. In many cases, there are no detailed guidelines regarding digitization in accounting. Independent approach is the result. However, the close interlocking of accounting with other company departments requires rapid integration to ensure connectivity.
Based on this, the majority of Austrian companies focus on the renewal of the ERP system, which is essential requirement for successful digitization. In the course of the ERP conversion, 87 percent of the companies stated that the standardization of their processes was a priority goal.