Digitalization and artificial intelligence (AI) are opening entirely new possibilities in the financial sector, as data has become available in real time. Traditional planning is being fundamentally reshaped — but it requires careful handling, since new technological capabilities bring new responsibilities as well.
This was the main conclusion of the 6th Macedonian-German Controlling Conference, held at the Heidelberg Faculty of Skopje. The event brought together numerous representatives from the financial sectors of Macedonian companies, experts, practitioners, and policymakers from the region and abroad, who discussed current trends and innovative research in the field of controlling.
The topics covered included digitalization, data security, algorithms, the introduction of new technologies in daily operations, the use of AI tools, and customer experience related to technological transformation.
“If we view this process as a car, then digitalization is the engine, and standards are the steering wheel — one cannot function without the other. The connection between digitalization and standards is strategic, and only when we combine them properly will the company achieve success,”
said Prof. Dr. Ronald Gleich, Director of the Center for Performance Management and Controlling at the Frankfurt School of Finance & Management.
Dr. Markus Brenner, Head of Process/Enterprise Automation & Data Management at the German consulting company Horváth, emphasized that data is “the golden source of everything,” and that with new digital tools and techniques, much more effective analyses can be made in the financial sector.
“Digital mindset — that’s the new way of thinking. It takes 80 percent mindset and 20 percent technology to see real change. This means we must completely reshape our way of thinking, spread it across the entire company, and learn together,”
said Brenner.
Macedonian financial representatives from banks, production, and telecommunications companies also shared their experiences with implementing new technologies. Many stated that training and investment in technology and cybersecurity have become top priorities in their operations, as this represents the new reality we live in.
When it comes to the benefits of new technologies, participants noted visible improvements — especially in real-time access to sales reports, which previously had to wait until the end of the month. Now, with the help of digital tools, they can monitor every process minute by minute.
However, participants agreed that every AI-generated output must be verified multiple times, as the potential for error cannot be ignored. Thus, the human hand and human mind remain irreplaceable — they do not compete with AI but rather complement it.
The conference, titled “New Techniques and Concepts for Further Development of Performance in Controlling and the CFO Area,” which is the leading academic and professional forum in the region, saw its highest attendance to date, providing an exceptional opportunity for in-depth dialogue, networking, and collaborative research.
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