16 October 2017
Bo Harald

Good for society at large

Bo Harald - ZEF, Transmeri, Real Time Economy Program

347Posts 1,310,105Views 256Comments
Finextra community

Electronic invoicing

A discussion and guidance on the path to full scale adoption of electronic invoicing by corporates, goverments, SME's and consumers, creating savings up to € 60 billion in 2020. With a focus on: trends, business models, processes, technology, and legal issues.

Protecting costs - NOT consumers

01 November 2016  |  4464 views  |  0

Posted this in 2008 - edited now

Had a discussion last week with a representative of a consumer organization at a conference in Brussels. It did strike me - again - how little interest these organizations have to further cost cutting in enterprises - in this case by moving to e-invoicing.

The cost of paper invoicing to the consumer segment in EU can be estimated to over 40bn€ a year.  Consumers are of course paying every cent (without knowing it) - and should understand,  that by helping the invoice sender to save cost, there will be at least a fair chance to get lower prices for the services they buy. Without saving costs there is hardly any chance for it.

Now the counterargument is that these cost savings do not go to customers, but to shareholders. My own experience from e-banking has told me that if there is competition most of the savings go to the customers. The part that goes to shareholders as improved dividend is mostly benefitting the largest capitalist in the world - pension schemes - where most citizens are the end-beneficiaries.

Then there is the counterargument that all do not use internet. Agree - but for those who use - it should be made clear that they benefit by moving away from paper (now there is an e-invoicing solution also for no-internet please > e-invoices are sent to bank branches and handled automatically there) - and should be encouraged to do so by being charged separately for paper invoices - as is the case in many countries already.

And we should naturally all of us understand that the potential to cut  2,8 million tons of CO2 should be done asap.

When will consumer organizations start to fight unnecessary process costs? Start to really protect consumers - not old fashioned high costs. Start to realize that each demand put on service providers - be they private or public is causing a cost - to be paid by the consumer. Become progressive and thus encourage business to join in much needed co-regulation and furthering of level playfield competition.




Comments: (0)

Comment on this story (membership required)

Latest posts from Bo

Banks are the enablers for mass market e-invocing

14 September 2017  |  6096 views  |  0 comments | recomends Recommends 0 TagsPaymentsInnovationGroupElectronic invoicing

e-banking 3.0

10 July 2017  |  4786 views  |  0 comments | recomends Recommends 0 TagsMobile & onlineInnovationGroupDigital Banking Trends

Demise of cash

05 July 2017  |  8921 views  |  0 comments | recomends Recommends 0 TagsCardsInnovationGroupDigital Banking Trends

Bank e-id service rules the waves

04 July 2017  |  5817 views  |  0 comments | recomends Recommends 0 TagsRetail bankingInnovationGroupDigital Banking Trends

Real Time Economy for EU - How?

20 March 2017  |  4780 views  |  0 comments | recomends Recommends 0 TagsMobile & onlineInnovationGroupFintech innovation and startups

Bo's profile

job title Chairman/Founding member
location Helsinki Region
member since 2008
Summary profile See full profile »
Independent advisor and board professional

Bo's expertise

Member since 2008
338 posts256 comments

Who's commenting on Bo's posts