Is digitization failing at the grassroots level?

Digitization has arrived among Austrian SMEs: 95 percent consider this topic important.

Almost all respondents also assume that automation and digitization will play a very important role in ten years' time.

"Austrian SMEs have understood that digitization will permanently change the way they do business"

"This realization must now be reflected in day-to-day business. There is room for improvement, especially in accounting."

explains Gerald Vlk, Partner at Deloitte Austria.

For example, more than half of the companies still print out incoming and outgoing invoices that have already been created digitally.

"The simplifications that digitization can bring are often still underutilized. That's why isolated digitized work steps still often result in additional work instead of time and cost savings today."

analyzes Gerald Vlk.

Obstacles

Deloitte identifies a number of barriers to faster digitization in accounting.

The wide range of technical solutions and system providers makes it difficult to keep track of the market and make the right choice.

The necessary (IT) know-how is often not yet sufficiently available in medium-sized companies.

"We urgently need up-to-date training for the accounting field. Otherwise, progress will already fail at the grassroots level."

warns Katrin Demelius, manager at Deloitte Austria.

Legislation has also only created the corresponding mandatory framework in isolated cases so far. Particularly in the case of digital documents, there is still a great deal of legal uncertainty.

"Investment decisions related to digitalization and automation must be made today under multiple uncertainties. There is a need for action above all at EU level"

Demelius said.