Monetisation offers end-to-end orchestration along digital financial processes. This takes the enablement of ecosystems and business models to a new level and ensures clearing between partners. Detecon's Partner Dominik Kerkow explains how companies can benefit from monetisation.
How can you briefly describe monetisation?
Monetisation includes the view of changes in transactions that are processed digitally and automated. This involves the capture of monetary value and automated accounting and settlement within an ecosystem. Monetisation helps enable innovative business models by making connections and orchestrating automated accounting, IT and other areas.
It also enables easy and cost-effective documentation of small-value funds to satisfy auditing and accounting, as well as providing accurate invoices. Through orchestration, monetisation creates the conditions for new business models with ordering and payment functions. Thus, monetisation is an important piece of the puzzle for any business case.
What distinguishes your conception of monetisation from possible others?
There are several aspects to this. First of all, the focus of our team is not only on the management of completed transactions, but we also look at the entire processes from preparation to settlement (order to cash) and the paths between the different touchpoints and finance. This distinguishes us from many finance departments that focus mainly on internal corporate processes. Our processes overlap again and again, as we also consider the interactions with external partners and end customers.
Furthermore, our solutions are designed to optimise the overall processes of a business case and not just be limited to SAP & Co. We have extensive expertise in IT implementation and the implementation of the required systems. Our holistic approach to solutions encompasses various areas and does not just focus on one specific process area. Monetisation draws on broader finance capabilities and accompanies the process across all systems and areas. The focus is on adaptability, dynamism and orchestration. We place great emphasis on holistically accounting for the business case and making processes more flexible for innovative business models.
Monetisation also includes risk and contract management as well as customer experience. We have all the necessary capabilities to run a scalable and flexible business model, providing a comprehensive solution for monetisation issues.
Which projects fall into the area of monetisation and which project would you highlight?
We serve different industries and business areas and it is always about implementing innovative concepts and business models. That's what makes our field so exciting. It is not easy to single out one project!
A particular highlight was working with a large multinational corporation to implement and integrate digital products in different markets. The orchestration of innovative use cases at one of the largest vehicle manufacturers and the concrete implementation of an "Everything-as-a-Service" (EaaS) model at an insurance company were outstanding achievements - our team made the transformation possible here. Furthermore, the collaboration with Daimler Vans was remarkable, where we realised the first project with an impact on the entire industry. This experience shows the innovative power and impact of monetisation.
And I also see the cooperation with MunichRe as a milestone, with which we were able to prove that we were able to precisely meet the needs of the customers with monetisation.
Which customers or target groups is this monetisation solution aimed at?
We address leaders in companies who want to make a transformation. We address all industries where a change in business models is required and offer combined solutions with other partner companies. In particular, we address CIO offices, corporate strategy departments, business development and finance departments from various industries. Our target group consists mainly of internationally operating large customers, corporate groups and business associations, which often have a heterogeneous and partly analogous overall structure.
Our solution is particularly relevant for business models that involve many payment-related parties, such as companies in the sharing economy, subscription models and SMS subscriptions. Furthermore, we address all customers who want to change their business model and push the path of digitalisation.
How will monetisation develop in the future?
The importance of the topic will be even greater in the future. We will integrate monetisation into every project and thus offer a comprehensive journey. In the projects, we accompany our clients from the initiation to the strategy to the delivery.
Our consultancy is a leader when it comes to innovative use cases and topics such as DigiTainability, Hyperconnectivity, 5G and IoT. In the future, we aim to also develop an innovative, flexible and automatic "business layer" to these highly innovative topics, which includes business models and billing systems. A partnership approach is very important to us in every respect.
But our ultimate goal is and remains: We want to bring about and accompany real change!