Software and Technology
The technology market generates a market volume of around 90 billion euros with hardware, software and IT services. With around 90,000 IT companies and over 1 million employees, the technology market is one of the leading sectors in Germany. The development of the IT market in Germany is positive and shows that companies in this country are increasingly investing in information technology to optimize their processes, increase flexibility or reduce their operating costs. All industries have to deal with the digital transformation and the adaptation to changing market conditions. For all topics related to digitalization, such as artificial intelligence, cloud or data analytics, the industrial sector is a particularly strong demand driver. A good third of the project business is accounted for by industrial companies, especially automotive manufacturers.
The Stuttgart region is a leading IT location. Innovative computer programs and IT services from the region are in demand in many industries around the globe. This is where the IT economy meets its most important customers in industry. Particularly in vehicle manufacturing and mechanical engineering, the central regional industries, the demand for intelligent IT solutions is constantly growing. After California's Silicon Valley, Baden-Wuerttemberg, with the Stuttgart region as its center, is number two worldwide in the market for enterprise software. The German and European headquarters of IBM and hp are located in the Stuttgart region. In addition - and this is typical for the region - an extremely strong middle class forms the basis for economic success. Thus, well over 6,000 small and medium-sized IT companies have emerged in the IT region of Stuttgart, primarily offering industry-oriented services.
In order to master the current, also international, challenges, you need a consultant for medium-sized businesses who knows your industry and has a strong international network in addition to regional roots.
- Audit of annual and consolidated financial statements according to HGB and IFRS
- Digitization of financial accounting; our DATEV software imports your data automatically and we can generate real-time financial data at short notice
- Optimization of business management systems; e.g. with regard to costing, income statement or cash flows
- Support in the preparation of financial concepts as well as bank appointments
- Securing and monitoring of financial requirements as well as controlling support
- Revenue recognition and accrual (especially for maintenance contracts)
- Improvement of the balance sheet, e.g. by exercising the option under HGB to capitalize internally generated software
- Optimization of tax burden, e.g. by exercising extensive capitalization options for purchased CRM software in accordance with BFH ruling
- Identification and splitting of multi-component contracts
- Employment of external developers and secondment of in-house developers
Through our overarching industry experts, we always follow the latest industry developments and know your issues.
We also present special topics of the IT industry in our publications on a regular basis and actively advise you if required.
Read more about: The accounting treatment of cloud-based software
PKF success stories
We are pleased to share the following examples of our successes with IT companies with our clients:
- Preparation of expert opinions for successful support in the search for investors
- Joint implementation of options under commercial law for good conditions in debt financing
- Tax optimization of the integration of sales subsidiaries in Germany and abroad