Technology, Media & Telecommunications in BDO
Technology is the essential innovation driver for the coming years. There are few sectors of the economy that are not affected. Identifying new business areas, offering relevant new services and utilising the changes to the best possible business effect are the decisive factors for a company’s success in this field.
The media industry, as a producer and distributor of content, is currently going through a particularly widespread and sustained upheaval. Classic revenue models are losing their viability. Previous returns are not sufficiently offset by newer approaches. Paid content models cannot absorb the loss of the previously profitable advertising market. New platforms such as Facebook, YouTube and Pinterest are taking traffic away from media companies. The gatekeeper function is gradually being lost. Simultaneously, media consumption is undergoing dramatic changes across the board. Younger users almost exclusively access information via the Internet, or surf to new digital platforms from the outset. The mobile industry, with applications for smartphones and other mobile devices, has seen the strongest growth. This development is independent of format or medium.
Digital transformation, due to high volumes of user data, offers particular opportunities. Big data provides information about interests, likes and dislikes. User targeting, user monitoring and mobile marketing open up numerous new opportunities for converting digital offerings into cash.
How we support technology and media companies
- Group and statutory audits
- Internal control reviews
- Revenue recognition reviews
- IFRS 15 transition support
- Financial reporting framework transitions (e.g. CZ GAAP, US GAAP and IFRS)
- Research and development claims
- International planning
- Transfer pricing
- Tax compliance
- Global outsourcing solutions
- Mergers and acquisitions
- Transaction services
- Financial and operational benchmarking
- Operational improvements analysis
We understand the specific challenges technology and media companies face in every phase of their growth and our team is made up of people who are genuinely passionate about these industries and care about developing long and lasting relationships with our clients.