Mittelstand 4.0 is the name of the German government’s program to guide SMEs into the future and familiarize them with digitalization. The model is created to provide German companies with expert advice to help them catch up with the competition in European and international competition. In many sectors, this is already working. Agriculture is one of the industries already benefiting from digital management, planning, automation, and working with the latest technologies. But even in logistics, which is directly connected to producers, the tools for digital collaboration are often still missing.
Around 50% of German companies worked digitally according to the DESI-Index 2019.This puts Germany in the European midfield. Globally, the numbers don’t look any better. Companies are still setting goals that can be linked to digitalization without taking all factors into account. However, this can be an advantage for your own company, because those who take on a pioneering role now may be able to expand more quickly and do international business.
What is the actual meaning of digitizing company processes and offerings? To find out, you should conduct an in-depth assessment of your company. It’s the first step toward a roadmap that spans several years and gradually integrates digital tools into everyday work. Just as you don’t start with the light bulbs on your desk when it comes to sustainability, but rather with waste avoidance and energy supply, for example, you also need to analyze the framework conditions when it comes to digitization.
A major complex in small and medium-sized businesses is record keeping and bookkeeping. Thanks to GoBD, this is also where the biggest hurdles lie when it comes to the proper and orderly filing of the customer and financial data, digital collaboration in documents, and the storage of originals. Communication itself within the company and with third parties is also subject to data protection requirements that you as an entrepreneur must meet. You also need professional support when it comes to integrating digital processes into the value chain, for example by automating warehouses, logistics, and production lines. The digital presence on the web, e-commerce, and online support must also not disappear from view. A simple website with opening hours and without a connection to Google MyBusiness and social media is no longer up to date.
Automated invoice management is a real-time and resource saver for SMBs, eliminating entire full-time positions that can instead be invested in developing and producing your brand and products. Incoming and outgoing invoices are often overlooked when it comes to digitization, as the item initially appears unremarkable. However, as with all areas that can be automated, the work time adds up and often costs SMEs in particular the potential growth of their business. GetMyInvoices can be set up internally with just a few clicks and used jointly in teams in compliance with data protection and tax regulations.
See the benefits of automated invoice management:
Better overview. Less accounting work. More time for your ideas.
The importance of maintaining records in accounts payable is unparalleled. Precise Accounts Payable process documentation...
25.02.2022
A quarter of all sales in online retail in Germany are generated by Amazon. This...
16.02.2021
Accounting is a critical function in all organizations. As you seek improved productivity and use...
27.05.2022
