Is crisis management really the most important skill in the business world?

By: Trademagazin Date: 2024. 12. 11. 11:04

In mid-November, at a conference on corporate digitalization, speakers presented case studies to show how the economic life of SMEs is evolving in the face of constantly changing trends, from intelligent document management to financial digitalization. According to Kelemen Kálmán, head of iFinance Vállalati Pénzügyek Kft., domestic SME managers feel like they are riding the latest hyperspeed maglev train, but in reality…

According to the survey on the digitalization of SMEs conducted in 2024 as part of the Digiméter research series, there is no significant change in the general degree of digitalization of Hungarian companies compared to the 2022 survey. Of the six sub-indexes of the survey, the value of the digital finance sub-index stands out, increasing from 61% in 2022 to 65% in 2024, the only one to increase among the sub-indexes. We might think that the digitalization of financial processes in SMEs is outstanding compared to other areas, but from a consultant’s perspective, the reality is more nuanced. Beyond electronic invoicing and banking, there is still a lot to be done to ensure that digitalization effectively helps SME owners and managers in their everyday lives.

The economic environment has changed significantly in the past 3-4 years, and unfortunately, domestic SMEs are not traveling on a super train, but rather on a roller coaster – says the head of a financial consulting company. What does this mean in everyday life?

Companies are at the limit of their information processing capacity, in constant flux, both due to the increase in the amount of information and the conscious use of the tools and technologies necessary for processing – and this also applies to finance, the imprint of this is clearly visible.

According to the expert, the era of long-term strategy creation is over. What we as entrepreneurs have to face today is uncertainty and unpredictability. The business world has transformed into a place where the most important skill is crisis management. has become. And effective crisis management requires data. Digitalization is essential for data-driven decision-making. However, for this, process automation and up-to-date and accurate information are essential.