What challenges do small companies face in managing their financial affairs?
Alessandro Di Leta, Market Manager Business Customers, and a working group wanted to find out exactly where the issues lay. So they carried out a survey. The most significant finding did not come as a huge surprise to Di Leta: over half of SMEs use self-created Word or Excel templates in offer, invoicing and payment collection procedures. This means there is no integrated digital system for accounting. Instead, accounting, dunning and financial controlling are carried out manually and new templates are continually created.
The benefits of a genuine digital solution are obvious – a reduction in workload thanks to time savings. Much time is wasted on carrying out lots of manual steps. Di Leta says: “It would be far better to invest this time in customer relations, order fulfilment or product development. The individual steps of accounts receivable management processes are pain points at small companies.”