DATEV eG, a prominent German data processing cooperative, has become one of the first companies in Germany to adopt Self-Sovereign Identity (SSI) technology. This innovative step places DATEV at the forefront of digital identity management.
About Datev
Founded in 1966, DATEV now boasts over 512,000 customers. It employs about 8,400 staff across its Nuremberg headquarters and 23 German branches. Its cooperative structure ensures stable ownership, immune to external investors. DATEV’s services span across software solutions for accounting, human resources, business consulting, tax calculation, and office organisation. The company’s significant reach is highlighted by over two million German companies using its software for financial accounting. Each month, DATEV processes around two million business assessments and over eleven million pay slips.
The need for SSI
SSI technology necessitates a digital wallet containing credentials from a trusted entity, such as a driver’s license or tax ID. This advancement allows individuals to have maximum control over their digital persona. Unlike conventional online identification methods, which often leave data fragments across services and require multiple passwords, SSI offers a more secure and convenient alternative.
Digital identity transformation
SSI’s impact is succinctly summarized by Mehran Shakeri, a team lead at SAP Innovation Center Network: “This technology is not owned by a company. It’s the first completely open standard for digital identity on the Web, and it gives individuals maximum control of their data when deployed with a proper registry.”
This shift towards decentralized identity is crucial for ensuring trustworthy communication between verified partners in the business ecosystem.
Industry-wide implications
The technology’s potential extends beyond individual benefits. Shakeri is confident about the broader adoption of SSI, asserting, “There is hardly an industry that would not benefit from SSI.”
With more companies following Datev’s example, we can expect the technology to be embraced more widely, and become adapted across the board in the tech sector and beyond it.
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