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Saving tax payers' money

We have on many occasions stressed the need for the public sector to more aggressively

-   save their own operating costs,

-  help enterprises to save cost,

-  drive enterprises across digitalization thresholds

-  cut CO2

-  make the single market real

-  collect VAT and other taxes due

-  further global standardization

Migration to e-invoicing furthers all these – and is furthered in return by all these.  So no efforts should be spared and bold action taken. Bold action means mandatory migration – needed as the 25bn public sector cost saving in EU public sectors (see Bruno Koch newsletters) does not happen without it. These deadlines also drive private sector deadlines aiming at the 250bn cost saving for enterprises.

 

Saving own costs – tax payers’ money.

The public sector in Finland has estimated its cost saving to 300m€/year.  Bruno Koch has estimated the figure for the public sector in Austria to 590m. Estimates from UK point at 1-3bn and so forth. So we need the deadlines – but before that we need 0-investment and 0-ITskill just-like-payments functioning generic tools for the SME-sector.  It is of utmost importance to avoid buyerspecific portals and procedures for the SMEs.  Banks have to take action here – the investments are small and as most non-bank service providers have said – only banks can bring in the SME-sector fast on cost efficiently.  So it is also about taking responsibility for society at large.

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Bo Harald

Bo Harald

Chairman/Founding member, board member

Transmeri, Demos, Real Time Economy Program,MyData

Member since

04 Nov 2008

Location

Helsinki Region

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This post is from a series of posts in the group:

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.


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