IT-Supported Financial Management
Increased competitive pressure
IT-supported financial management
The increasing digitalization and globalization of industrial, financial and service companies and their products increase the competitive pressure on individual market participants and lead to growing complexity in corporate structures and (global) value-added networks. In order for companies to be able to make entrepreneurial decisions in the sense of value-oriented corporate management in the face of these challenges, both opportunities and risks arising from the use of new technologies and cross-company collaboration in (digital) value-added networks must be considered and managed in an integrated manner.
Our expertise team in IT-supported financial management deals with the development of methods and concepts for the identification, evaluation and control of integrated opportunity and risk aspects in information technologies and digital value creation networks. With its proven expertise, our research team supports companies from various industries in scientific and practically relevant issues. In the following, essential topics of the research area are presented with exemplary questions:
Business Technology Management
Business Technology Management encompasses integrated opportunity and risk management from the business model level to individual innovation projects.
– Digital and data-driven business models through new technologies: ‘How can digital and data-driven business models be designed and established based on new technologies such as Blockchain / Big Data?’
– IT innovation management: ‘How can IT innovation projects and teams be designed in an economically sensible way and how can the success of new technologies be predicted?’
– IT project and IT project portfolio management: ‘How can IT projects and project portfolios be evaluated and controlled?’
– IT security: ‘How can IT security risks in digital value creation be identified, evaluated and controlled on the basis of the company-specific IT risk landscape?’
Digitalization of Value Creation Networks
For all questions related to the digitalization of value creation networks an economic assessment that considers both profit opportunities and risk potential in an integrated manner is a basic requirement.
– Digital and data-driven business models through hybrid value creation: ‘Which business model patterns can we derive for hybrid value creation?’
– Modelling digital systems and technologies: ‘How can we abstract, classify and map dependencies of digital systems and technologies?’
– Economic evaluation of Industry 4.0 projects: ‘How can individual Industry 4.0 projects and project portfolios be evaluated in an integrated manner, taking into account costs, earnings and risk?’
– Transformation strategies: ‘What does an Industry 4.0 transformation roadmap look like that is economically reasonable and technologically robust?’
– Risks in (digital) value-added networks: ‘What risks arise from the increasing (digital) networking with suppliers, customers and other value-added partners?’
Financial Energy Management
Financial energy management ranges from the intelligent use of energy efficiency and energy flexibility potentials to the design of new business and investment evaluation models.
– Energy efficiency insurance: ‘How can financial market products for hedging investments in energy efficiency measures be designed and evaluated?’
– Investment evaluation in energy efficiency measures: ‘How can investments in energy efficiency and energy flexibility measures be evaluated and prioritized?’
– Decision support in industrial energy management: ‘How can an operational energy management system be designed that (partially) automatically optimizes energy efficiency and energy flexibility?’
– Risk management in critical infrastructures: ‘How can risks in critical infrastructures (e.g. electricity) and possible countermeasures be identified and evaluated?’
The Research Center FIM deals with relevant real-world problems both in publicly funded research projects and in applied research projects with partners in industry. Together with our partners, we develop unique and novel solutions based on our insights into the current state of research, our practical experience and the interdisciplinary and enthusiastic nature of our team. Selected projects are:
- DaSIe (2019-2021):
Data-based services for industrial companies
Project’s objective: Development of innovative analytics solutions and data-based business models.
- SIS 4.0 (2018 – 2022):
Secure Industry 4.0 in Swabia (funded by the Bavarian State Ministry of Economic Affairs, Regional Development and Energy)
Project’s objective: Research into innovative security solutions for the transformation to Industry 4.0, with special consideration of security requirements, to develop suitable solutions for the planning, implementation and optimization of digitized development, production and logistics processes and for the design of digital and data-based services and business models based on Industry 4.0 technologies.
- TTZ (2018 – 2022):
Technology Transfer Center “Data Analytics”
Project’s objective: Increasing the international competitiveness of Bavarian companies through cloud computing and internet of things based business intelligence and (big) data analytics.
- ILLumINE (2018 – 2020):
Intelligent, data-driven and grid-stabilizing energy supply management for industrial companies, R&D program Information and Communication Technology Bavaria (funded by the Bavarian Ministry of Economic Affairs, State Development and Energy)
Project’s objective: Development of a digital energy management platform for industrial customers.
- TRiP (2018 – 2019):
Transparency in production processes, R&D program Information and Communication Technology Bavaria (funded by the Bavarian Ministry of Economic Affairs, State Development and Energy)
Project’s objective: Development of Big Data-based approaches for the intelligent collection and analysis of mass production data.
- Infineon AG (2018):
Development of a real-time forecasting tool to improve decision making in financial management.
- Hilti AG (2018):
Economic evaluation of IT security risks and measures in the digital value-added system and development of a (2020+) network strategy.
- COMPOSITION (2016 – 2019):
Ecosystem for COllaborative Manufacturing PrOceSses – Intra- and Interfactory Integration and AutomaTION, HORIZON 2020 EU Projekt (gefördert durch die Europäische Kommission)
Project’s objective: Development of an integrated information management system (IIMS) for the manufacturing industry
- c.HANGE (2016 – 2019):
Cost and impact analysis in the field of refurbishment consulting and development of insurance policies for energy efficiency measures (funded by the Ministry of the Environment, Climate and Energy of Baden-Württemberg)
- Norddeutsche Landesbank (2016):
Development of data-driven services and a strategy roadmap for the company-wide integration of applications in the area of Big Data Analytics.
- BMW Bank GmbH (2015):
Explorative data analysis and development of a scorecard for assessing the creditworthiness of customers and a review and decision process for granting loans.
- GEWOFAG (2013):
Development of a control system for the evaluation of sustainability investments in the refurbishment and new construction of buildings.
In this area of expertise, we have published the following research papers in academic journals and at international conferences:
Wie IT die Energieflexibilitätsvermarktung von Industrieunternehmen ermöglicht und die Energiewende unterstütztin: HMD Praxis der Wirtschaftsinformatik, 2021
Bauer, DennisHieronymus, AljoschaKaymakci, CanKöberlein, JanaSchimmelpfennig, JensWenninger, SimonZeiser, Reinhard
Economic Perspective on Algorithm Selection for Predictive Maintenancein: Proceedings of the 27th European Conference on Information Systems (ECIS), s.l., 2019
Fabri, LukasHäckel, BjörnOberländer, Anna MariaTöppel, JannickZanker, Patrick
Demand Side Management : Entscheidungsunterstützungssysteme für die flexible Beschaffung von Energie unter integrierten Chancen- und Risikoaspektenin: HMD Praxis der Wirtschaftsinformatik, 2017
Development of Dynamic Key Figures for the Identification of Critical Components in Smart Factory Information Networkspresented at: 25th European Conference on Information Systems (ECIS), Guimarães, Portugal, 2017
Häckel, BjörnMiehle, DanielPfosser, StefanÜbelhör, Jochen
Explaining the Energy Efficiency Gap : Expected Utility Theory versus Cumulative Prospect Theoryin: Energy Policy, 2017
Häckel, BjörnPfosser, StefanTränkler, Timm
Mindful Engagement in Emerging IT Innovations : A Dynamic Optimization Model Considering Organizational Learning in IT Innovation Investment Evaluationin: The Database for Advances in Information Systems, 2017
Häckel, BjörnLindermeir, AndreasMoser, FlorianPfosser, Stefan
Towards an optimal investment strategy considering fashionable IT innovations : a dynamic optimization modelin: Journal of Decision Systems, 2017
Bürger, OlgaHäckel, BjörnMoser, Florian
Providing Utility to Utilities : the Value of Information Systems Enabled Flexibility in Electricity Consumptionin: Journal of the Association for Information Systems, 2016
Fridgen, GilbertHäfner, LukasKönig, ChristianSachs, Thomas
Risiken der Industrie 4.0 : eine Strukturierung von Bedrohungsszenarien der Smart Factoryin: HMD Praxis der Wirtschaftsinformatik, 2015
University of Augsburg
- Introduction to Business Administration (Lecture, Bachelor)
- Risk Management (Lecture, Bachelor)
- Risik Management (Seminar, Bachelor)
- Advanced methods of financial and information management (Lecture, Bachelor)
- Integrated Revenue and Risk Management (Lecture, Master)
- Integrated Revenue and Risk Management (Seminar, Master)
Further information can be found under Education in Augsburg.