The cost of digitization in Germany: German states involved in financing
Basically, the German economy is well off. According to a current estimate by the auditing and consulting company KPMG, growth in 2016 was about 1.9% and thus a level not seen since 2011. The unemployment rate is steadily falling and the business climate index is continually increasing.
German angst or farsightedness?
Isn’t there an increase in uncertainty about the future that goes hand in hand with this? Will the current interest policy continue to stay as favorable for investments and associated loans? The good operating income of enterprise business supported by the favorable financing might lead to neglecting the cost, resources and processes in the company or postpone their adjustment. A risk – in case there are short-term changes to the framework.
Change requires adaptation
But no matter how the framework may really change, you can no longer evade digitization. In the event, the question is rather whether your (hopefully) existing digitization needs to be customized? For enterprises, it’s particularly important that they review customer-centric processes, core processes, internal support processes and cross-sector processes and, where necessary, customize them using state-of-the-art technology.
Aids for midsize businesses
The German states of North Rhine Westphalia and Bavaria have come up with some ideas, supporting small and midsize businesses with their digitization process if they fulfill certain conditions. North Rhine Westphalia positions a promotional initiative called “Innovation voucher for digitization”, which awards companies with subsidies of up to €25,000. Innovative promotion of up to 80% of project costs is possible. Interested companies may apply for a corresponding voucher with the North Rhine Westphalian Ministry of Science.
EASY is a digitization partner
The “Innovation voucher for digitization” pursues the aim to support KMU in cooperation with scientific institutions and other authorized institutions, and to recognize and implement entrepreneurial potential through digitization. These include secure IT systems as much as other measures that support enterprises with transformation through to “Industry 4.0”.