IT-supported financial management

The increasing digitalization and globalization of industrial, financial and service industries increase the competitive pressure on individual market participants. Both phenomena lead to growing complexities in corporate structures and (global) value creation networks. In the face of the challenges related to new technologies and cross-company collaboration in (digital) value-added networks, both opportunities and risks have to be considered and controlled in an integrated manner to make sound entrepreneurial decisions in the sense of value-based corporate management.

The research department “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, the research department supports companies from various industries in relevant scientific and practically issues. In the following, we present the main topics of the research department with exemplary issues of interest:



1. 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 on the basis of new technologies such as Blockchain / BigData?”
  • IT innovation management: “How can IT innovation projects and teams be designed in an economically meaningful way? How can the success of new technologies, some of which are heavily hyped, 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?”

2. Digitalization of value creation networks

An economic evaluation that considers both business opportunities and risk potentials in an integrated manner is a basic prerequisite for all questions within the scope of the digitization.

  • Digital and data-driven business models through hybrid value creation: “Which business model patterns can be derived for hybrid value creation?”
  • Modelling digital systems and technologies: “How can digital systems and technologies be abstracted, classified and modeled (e.g. dependencies)?”
  • Economic evaluation of industry 4.0 projects: “How can individual Industry 4.0 projects and project portfolios be evaluated in an integrated way in terms of costs, return and risk?”
  • Transformation strategies: “How does a technologically robust Industry 4.0 transformation roadmap look like under an economic perspective?”
  • Risks in (digital) value creation networks: “Which risks arise due to the increasing (digital) interconnectedness with suppliers, customers and other value creation partners?”

3. Financial energy management

Financial energy management comprises the intelligent use of energy efficiency and energy flexibility potentials as well as the design of new business and investment evaluation models.

  • Energy efficiency insurances: “How can financial market products be designed and evaluated to ensure investments in energy efficiency measures?
  • Investment evaluation in energy efficiency measures: “How can energy efficiency and energy flexibility investments be evaluated and prioritized?
  • Decision support in industrial energy management: “How can an operational energy management system be designed that optimizes and (partially) automates the energy consumption?
  • Risk management in critical infrastructures: “How can risks in critical infrastructures (e.g. electricity) and possible countermeasures be identified and evaluated?

 

Projects

In cooperation with renowned companies, the research department “IT-supported financial management” pursues the goal of solving practical problems with scientifically sound methods. The unique selling point of our research team is the development of individual and innovative solutions obtained through the combination of current scientific knowledge, practical experience, interdisciplinary skills and creative approaches.

To illustrate our approach, we briefly present a few selected projects from our main subject areas below:

Business Technology Management

  • Norddeutsche Landesbank (2016) [Private Practice Project]
    Big Data Analytics: development of data-driven services and a strategy roadmap for enterprise-wide integration of Big Data Analytics applications.
  • BMW Bank GmbH (2015) [Private Practice Project] Explorative data analysis and development of a scorecard to assess the creditworthiness of customers as well as a review and decision-making process for lending.
  • Infineon AG (2018) [Private Practice Project]
    Development of a real-time forecasting tool to improve decision making in financial management.

Digitization of value creation networks

  • R&D Program Information and Communication Technology Bavaria (2018-2019) [Public Research Project]
    Transparency of production processes – Big data-based approaches for the intelligent collection and evaluation of mass production data (TRiP).
  • HORIZON 2020 EU Project (2016-2019) [Public Research Project]
    Ecosystem for collaborative manufacturing processes (COMPOSITION)
  • Hilti AG (2016-2018) [Private Practice Project]
    Economic evaluation of IT security risks and measures in digital value creation systems and development of a (2020+) network strategy.

Financial Energy Management

  • R&D Program Information and Communication Technology Bavaria (2018-2020) [Public Research Project]
    Intelligent, data-driven and grid-stabilizing energy supply management for industrial companies (ILLumINE).
  • Ministry of the Environment Baden-Württemberg (2017-2019) [Public Research Project]
    Modelling energy efficiency insurances and energy performance contracts (application energetic retrofitting)
  • GEWOFAG (2013) [Private Practice Project]
    Development of a control system for the evaluation of sustainability investments in retrofitting and new construction of buildings.

Based on the results of the research projects, the Research center FIM regularly publishes in international journals and conferences. Selected publications are:

Demand Side Management : Entscheidungsunterstützungssysteme für die flexible Beschaffung von Energie unter integrierten Chancen- und Risikoaspekten
in: HMD Praxis der Wirtschaftsinformatik, 2017
Häfner, Lukas
Development of Dynamic Key Figures for the Identification of Critical Components in Smart Factory Information Networks
presented at: 25th European Conference on Information Systems (ECIS), Guimarães, Portugal, 2017
Häckel, Björn
Miehle, Daniel
Pfosser, Stefan
Übelhör, Jochen
Explaining the Energy Efficiency Gap : Expected Utility Theory versus Cumulative Prospect Theory
in: Energy Policy, 2017
Häckel, Björn
Pfosser, Stefan
Tränkler, Timm
Mindful Engagement in Emerging IT Innovations : A Dynamic Optimization Model Considering Organizational Learning in IT Innovation Investment Evaluation
in: The Database for Advances in Information Systems, 2017
Häckel, Björn
Lindermeir, Andreas
Moser, Florian
Pfosser, Stefan
Towards an optimal investment strategy considering fashionable IT innovations : a dynamic optimization model
in: Journal of Decision Systems, 2017
Bürger, Olga
Häckel, Björn
Moser, Florian
Providing Utility to Utilities : the Value of Information Systems Enabled Flexibility in Electricity Consumption
in: Journal of the Association for Information Systems, 2016
Fridgen, Gilbert
Häfner, Lukas
König, Christian
Sachs, Thomas
Risiken der Industrie 4.0 : eine Strukturierung von Bedrohungsszenarien der Smart Factory
in: HMD Praxis der Wirtschaftsinformatik, 2015
Hertel, Michael
Alle folgenden Lehrveranstaltungen finden ausschließlich an der Universität Augsburg statt.
V = Vorlesung (lecture) , S = Seminar (seminar)

Bachelor:

  • Einführung in die BWL (V)
  • Risikomanagement (V)
  • Seminar Risikomanagement​ (S)
  • Fortgeschrittene Methoden des Finanz- und Informationsmanagement (V)
Master:
  • Integriertes Chancen- und Risikomanagement​ (V)
  • Masterseminar integriertes Chancen- und Risikomanagement (S)
  • Einführung in FOIM (V)
  • Value Based Management (V – FIM Studiengang)
  • Seminar Value Based Management (S – FIM Studiengang)

Weitere Informationen finden sie auf der Seite Lehre.

Contact

  • Prof. Dr. Björn Häckel, Professor of Business Engineering with focus on Finance, Operations & Information Management, University of Augsburg