, Volume 46, Issue 2, pp 107–117 | Cite as


Ein generisches Modell zur Identifikation von Verbesserungspotenzialen
  • Donovan PfaffEmail author
  • Bernd Skiera
  • Tim Weitzel
WI — Aufsatz

Financial Chain Management


Financial processes are often treated as a typical secondary process. As a result, substantial optimization potential remains unexploited. Based on an empirical study, in this paper a generic financial chain is developed and used to identify areas for improvement. Especially the invoicing subprocess offers great potential for integration. 28% of all invoices are incorrect, mostly (83%) due to faulty prices. Thus, an internal integration of the systems used for pricing and invoicing customers can substantially cut down the associated costs of claim management. But integrating the invoicing systems with external partners is also important. German SMEs send 86% of all invoices to customers by mail. In Fortune 1000 enterprises the figure is 67%. Here, overall average costs per invoice are a 15,50 in contrast to a 2,00 for electronic invoices.


Financial Process Financial Chain Financial Chain Management E-Finance Invoice Electronic Bill Presentment and Payment (EBPP) 


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. [ArYo01]
    Arkhipov, A. V.; Yong, A.: Show Me the Money. How e-Business Will Transform B-to-B Financial Processes. Report, Aberdeen Group Inc., Boston 2001.Google Scholar
  2. [BeSe97]
    Beam, C.; Segev, A.: Automated Negotiations: A Survey of the State-of-the-Art. In: WIRTSCHAFTSINFORMATIK 39 (1997) 3, 269–279.Google Scholar
  3. [Bö hl01]
    Böhle, K.: The Potential of Server-based Internet Payment Systems. Background Paper, Electronic Payment Systems Observatory (ePSO), Seville 2001.Google Scholar
  4. [BoRo03]
    Bodendorf, F.; Robra-Bissantz, S.: E-Fi-nance — Elektronische Dienstleistungen in der Finanzwirtschaft. München, Wien 2003.CrossRefGoogle Scholar
  5. [BrSc01]
    Braßler, A.; Schneider, H.: Stand und Entwicklungstendenzen des Electronic Supply Chain Management. In: zfo Zeitschrift Fü hrung und Organisation 70 (2001) 3, 143–150.Google Scholar
  6. [BuLW01]
    Buxmann, P.; Ladner, F.; Weitzel, T.: Anwendung der Extensible Markup Language (XML): Konzeption und Implementierung einer WebEDI-Lösung. In: WIRTSCHAFTSINFORMATIK 43 (2001) 3, 257–267.Google Scholar
  7. [Bü sc98]
    Büschgen, H. E.: Bankbetriebslehre. Bankgeschäfte und Bankmanagement. Wiesbaden 1998.Google Scholar
  8. [CoDF02]
    Cook, J.; DeBree, K.; Ferolet, A.: From Raw Materials to Customers: Supply Chain Management in the Service Industry. In: SAM Advanced Management Journal (2002) Autumn 2001 14-21.Google Scholar
  9. [Dave93]
    Davenport, T. H.: Process Innovation — Reeingineering Work through Information Technology. Boston 1993.Google Scholar
  10. [Delo03]
    Deloof, M.: Does Working Capital Management Affect Profitability of Belgian Firms? In: Journal of Business & Accounting 30 (2003) 3/4, 573–587.Google Scholar
  11. [EiSc99]
    Eicker, S.; Schwichtenberg, H.: Electronic Bill Presentment and Payment als neue Form des Electronic Billing. In: Scheer, A.W.; Nü ttgens, M. (Hrsg.): Electronic Business Engineering, Heidelberg 1999, 147–167.CrossRefGoogle Scholar
  12. [Emme93]
    Emmelhainz, M. A.: EDI: A Total Management Guide. 2nd ed., New York 1993.Google Scholar
  13. [FMEK02]
    Friedrich, J.-M.; Mertens, P.; Evers-heim, W.; Kampker, R.: Der CW-SCM-Ansatz. Eine komponentenbasierte Supply-Chain-Management-Software für kleine und mittlere Unternehmen. In: WIRTSCHAFTSINFORMATIK 44 (2002) 2, 117–130.CrossRefGoogle Scholar
  14. [Frös99]
    Fröschl, F.: Vom IuK-Outsourcing zum Business Process Outsourcing. In: WIRTSCHAFTSINFORMATIK 41 (1999) 5, 458–460.CrossRefGoogle Scholar
  15. [Gren02]
    Greengard, S.: How To Make E-Billing Pay. In: Business Finance (2002), 43–46.Google Scholar
  16. [HaCh94]
    Hammer, M.; Champy, J.: Business Re-eingineering — Die Radikalkur für das Unternehmen. Frankfurt 1994.Google Scholar
  17. [HaNi98]
    Handfield, J.; Nichols Jr., E.: Introduction to Supply Chain Management. Upper Saddle River, 1998.Google Scholar
  18. [Hans03]
    Hansen, I.: Streamlining the Financial Supply Chain. In: Read, C.; Scheuermann, H.-D. (Hrsg.): The CFO as Business Integrator. Southern Gate 2003, 63–101.Google Scholar
  19. [Hewi94]
    Hewitt, F.: Supply Chain Redesign. In: International Journal of Logistics Management 5 (1994) 2, 1–8.Google Scholar
  20. [Holt03]
    Holten, R.: Integration von Informationssystemen. In: Wirtschaftsinformatik 45 (2003) 1, 41–52.Google Scholar
  21. [HoSc01]
    Holten, R.; Schultz, M. B.: Integriertes Controlling für Aufbau, Betrieb und Anpassung von Supply Chains. In: WIRTSCHAFTSINFORMATIK 43 (2001) 6, 579–588.Google Scholar
  22. [Kill02]
    Killen & Associates Inc.: Optimizing The Financial Supply Chain — How CFO of Global Enterprises Are Succeeding by Substituting Information for Working Capital. Report, Palo Alto, 2002.Google Scholar
  23. [KnMZ00]
    Knolmayer, G.; Mertens, P.; Zeier, A.: Supply Chain Management auf Basis von SAPSystemen. Perspektiven der Auftragsabwicklung für Industriebetriebe. Berlin 2000.CrossRefGoogle Scholar
  24. [Ksch01]
    Kschwendt, G.: Internet-Based Bill Payment and Presentment. In: Zask, E. (Hrsg.): The E-Finance Report, New York 2001, 149–177.Google Scholar
  25. [Land01]
    Lander, R. N.: Managing Customer Deductions. In: Strategic Finance (2001) 5, 38–42.Google Scholar
  26. [LeBi92]
    Lee, H. L.; Billington, C.: Managing Supply Chain Inventory: Pitfalls and Opportunities. In: Sloan Management Review 33 (1992) 65–73.Google Scholar
  27. [LHNH01]
    Lawrenz, O.; Hildebrandt, K.; Nen-ninger, M.; Hillek, T.: Supply Chain Management — Strategien, Konzepte und Erfahrungen auf dem Weg zu digitalen Wertschöpfungsnetzwerken. Wiesbaden 2001.Google Scholar
  28. [NiNi97]
    Nitsch, R.; Niebel, F.: Praxis des Cash Managements. Mehr Rendite durch optimal gesteuerte Liquidität. Wiesbaden 1997.Google Scholar
  29. [Olea00]
    O’Leary, D. E.: Reengineering Assembly, Warehouse and Billing Processes, for Electronic Commerce Using „Merge-in-Transit”. In: Information Systems Frontiers 1 (2000) 4, 379–387.Google Scholar
  30. [OSSW98]
    Ouren, J.; Singer, M.; Stephenson, J.; Weinberg, A. L.: Electronic Bill Presentment and Payment. The Options for Banks are Becoming Clear. In: The McKinsey Quarterly (1998) 4, 98–106.Google Scholar
  31. [Pete02]
    Peters, R.: Automatisierte Auktionen. In: WIRTSCHAFTSINFORMATIK 44 (2002) 2, 131–140.CrossRefGoogle Scholar
  32. [PfSW04]
    Pfaff, D.; Skiera, B.; Weiss, J.: Financial Supply Chain Management, Bonn 2004.Google Scholar
  33. [PhEH03]
    Pfohl, H. C.; Elbert, R.; Hofmann, E.: Management der „finanziellen” Supply Chain: Charakterisierung — Aufgabenbereiche — Inter-dependenzen. In: Bundesvereinigung Logistik: Finanzierung — eine neue Dimension der Logistik — Ergebnisse des Arbeitskreises Logistik und Finanzen. Berlin 2003, S. 1–64.Google Scholar
  34. [PoMi85]
    Porter, M. E.; Millar, V. E.: How Information Gives You Competitive Advantage. In: Harvard Business Review (1985) July/August, 149–160.Google Scholar
  35. [Port85]
    Porter, M. E., Competitive Advantage: Creating and Sustaining Superior Performance. New York 1985.Google Scholar
  36. [RaAS02]
    Rawolle, J.; Ade, J.; Schumann, M.: XML als Integrationstechnologie bei Informationsanbietern im Internet. In: WIRTSCHAFTSINFORMATIK 44 (2002) 1, 19–28.Google Scholar
  37. [Reas02]
    Reason, T.: We Can Work It Out: The 2002 Working Capital Survey. In: CFO Magazine (2002).Google Scholar
  38. [Rebs01]
    Rebstock, M.: Elektronische Unterstüt-zung und Automatisierung von Verhandlungen. In: WIRTSCHAFTSINFORMATIK 43 (2000) 6, 609–617.Google Scholar
  39. [RELC02]
    REL Consultancy Group: Improving Shareholder Value Through Total Working Capital Management. White Paper, New York 2002.Google Scholar
  40. [RoPa01]
    Rothkopf, M. H.; Park, S.: An Elementary Introduction to Auctions. In: Interfaces 31 (2001) 6, 83–97.Google Scholar
  41. [SKCU97]
    Sugimori, Y.; Kusunoki, K.; Cho, F.; Uchikawa, S.: Toyota Production System and Kanban System — Materialization of Just-In-Time and Respect For Human System. In: International Journal of Production Research 15 (1997) 6, 553–564.Google Scholar
  42. [SKGW03]
    Skiera, B.; König, W.; Gensler, S.; Weit-zel, T.; Beimborn, D.; Blumenberg, S.; Franke, J.; Pfaff, D.: Financial-Chain-Management, Prozessanalyse, Effizienzpotentiale und Outsourcing — Eine empirische Studie mit den 1.000 größten deutschen Unternehmen. E-Finance Lab, Frankfurt 2003.Google Scholar
  43. [Skie00]
    Skiera, B.: Preispolitik und Electronic Commerce — Preisdifferenzierung im Internet. In: Wamser, C. (Hrsg.): Electronic Commerce, München 2000, 117–130.Google Scholar
  44. [SkPf03]
    Skiera, B.; Pfaff, D.: Financial Supply Chain Management — Wie Sie Ihren Cash Cycle in den Griff bekommen! In: Der Controlling Berater (2003) 6, 47–68.Google Scholar
  45. [SpPf01]
    Spann, M.; Pfaff, D.: Electronic Bill Presentment and Payment (EBPP). In: Die Betriebswirtschaft (DBW) 61 (2001) 4, 509–512.Google Scholar
  46. [Stem02]
    Stemmler, L.: The Role of Finance in Supply Chain Management. In: Seuring, S.; Goldbach, M. (Hrsg.): Cost Management in Supply Chains. Heidelberg 2002, 165–176.Google Scholar
  47. [Stev89]
    Stevens, G.: Integrating the Supply Chain. In: International Journal of Physical Distribution and Materials Management 19 (1989) 3, 3–8.Google Scholar
  48. [StHe93]
    St. John, C. H.; Heriot, K. C.: Small Suppliers And JIT Purchasing. In: International Journal of Purchasing and Materials Management 29 (1993) 1, 11–16.Google Scholar
  49. [TCRF01]
    The Credit Research Foundation: Customer Deductions: Impact on Receivables. The Credit Research Foundation, Columbia 2001.Google Scholar
  50. [Trad02]
    TradeCard: Financial Supply Chain Automation: The Missing Link in Supply Chain Management. White Paper, TradeCard, New York 2001.Google Scholar
  51. [Wate95]
    Waters-Fuller, N.: Just-In-Time Purchasing and Supply: A Review of the Literature. In: International Journal of Operations & Production Management 15 (1995) 9, 220–236.Google Scholar
  52. [Weit04]
    Weitzel, T.: Economics of Standards in Information Networks. New York 2004.Google Scholar
  53. [WeMK03]
    Weitzel, T.; Martin, S.; König, W.: Straight Through Processing auf XML-Basis im Wertpapiergeschäft. In: WIRTSCHAFTSINFORMATIK 45 (2003) 4, 409–420.CrossRefGoogle Scholar
  54. [YoKa01]
    Yoris, A.; Kauffman, R. J.: Should We Wait? Network Externalities, Compatibility, and Electronic Billing Adoption. In: Journal of Management Information Systems 18 (2001) 2, 47–50.Google Scholar

Copyright information

© Springer Fachmedien Wiesbaden GmbH 2004

Authors and Affiliations

  1. 1.Lehrstuhl für Electronic CommerceJ. W. Goethe-UniversitätFrankfurt am MainDeutschland
  2. 2.Institut für WirtschaftsinformatikJ. W. Goethe-UniversitätFrankfurt am MainDeutschland

Personalised recommendations