01 April 2015

Good for society at large

Bo Harald - ZEF and Real Time Economy Program

312Posts 1,029,336Views 171Comments

Blog post nbr 300 - this time about e-invoicing..

13 March 2014  |  1254 views  |  0

As of November last year 72% of all enterprises in Finland used structured e-invoicing (Finvoice or TEAPPS standards - compatible with ISO20022). By now it is considerably higher. E-mailing PDFs has not - and should not - be counted as e-invoicing.

The penetration rate varies between 82% (over 50 employees) and 62% (less than 10 employees). 

The figures may sound high, but should be much higher:

1. in practise all enterprises are already signed up (SME-sector typically by banks)

2. to send an e-invoice could not be simpler in a small enterprise - just key it in in your e-bank service. So the penetration rate in this sector should actually be the highest - as all use e-banking.

3. the message that e-invoicing is not a goal in itself - but a platform for automating accounting, reporting, cash flow estimates and financing - has not reached all

4. the state sector, the largest municipalities (and some progressive small ones) and most large enterprises have set deadlines for paper and e-mails - but oddly enoug not all..

5. SME-organisations have not taken a visible enough role

6. the Confederation of Finnish Construction Industry has seen that efficient and costefficient countermeasures against the grey economy can only be achieved if the entire sector moves to e-invoicing-only. This has not yet been fully implemented.

Conclusion - it takes time - but there is no excuse for not starting now with bold goals - nationally, in every enterprise - and by everybody who thinks better productivity is important. What could be a reason for continuing to accept unstructered paper or e-mail invoices?

 

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Latest posts from Bo

Step by step to a Real Time Economy

28 March 2015  |  731 views  |  0  |  Recommends 0 TagsInnovationTransaction bankingGroupInnovation in Financial Services

I am sure. Very sure.

04 February 2015  |  1842 views  |  0  |  Recommends 0 TagsPaymentsTransaction bankingGroupInnovation in Financial Services

Are you sure? How sure?

01 February 2015  |  2410 views  |  0  |  Recommends 0 TagsMobile & onlineInnovationGroupInnovation in Financial Services

The key to progress is change

10 January 2015  |  2010 views  |  0  |  Recommends 0 TagsMobile & onlinePaymentsGroupInnovation in Financial Services

2015 - towards 100pct e-invoicing

03 January 2015  |  3319 views  |  0  |  Recommends 0 TagsMobile & onlineInnovationGroupInnovation in Financial Services

Bo's profile

job title Chairman/Founding member
location Esbo
member since 2008
Summary profile See full profile »

Bo's expertise

Who's commenting on Bo's posts