Controlling in Era of Industry 4.0: Opportunities for Businesses in the Field of the Introduction of New Technologies

Abstract

Automation, robotics, Internet of Things and Big Data are currently a big challenge for businesses. However, they can also be a great opportunity. One of the corporate areas where new technologies can be used is controlling. In this research, the issue is narrowed down to the impact of new technologies on Enterprise Resource Planning (ERP) systems of companies, which are a basic tool of controlling in companies. The research analyses the possibilities of integrating elements of Industry 4.0 with ERP systems and the possibility of using data for corporate controlling. For this purpose, a literature review was carried out and gained results were further analysed according to the defined criteria. The outcome of the literature review is an essential current state analysis of the impact of new technologies on corporate ERP systems with regard to the company's controlling processes. This paper serves as a very first step in designing a systematic research study in area of controlling 4.0. Keywords: automation, controlling, Enterprise Resource Planning (ERP), Industry 4.0, management control, management accounting

Factors Influencing the Financial Situation and Management of Small and Medium Enterprises

“…Furthermore, initiatives to separate corporation ownership and management have raised worries about corporate governance and agency issues throughout the world. In Somalia, the SME sector is considered one of the most important economic drivers, as it provides employment and earnings for a large proportion of the population (Rotar et al 2019;Perevozova et al 2019;Zahoran and Zizlavsky 2021). The bankruptcy of SMEs results in employment losses, greater insecurity, limited flexibility in the economy, and a decline in economic growth.…”