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Comments: (3)

Christopher Williams
Christopher Williams - RTpay - Winchester Uk 28 February, 2014, 09:53Be the first to give this comment the thumbs up 0 likes

Bo, I am sure you are correct in pushing for e-invoicing to be promoted better - and faster - by governments and companies. Where it runs into resistance is from those international companies that continue to take advantage of the inefficient way VAT is collected within the EU. If we could get greater concentration on moving to real time, automated settlement within the transaction flow - with high costs for those not moving to this format - then e-invoicing would get a shot in the arm.

My other comment is that we should aim to see e-invoicing as a part of the solution to the BEPS targets of the G20/ OECD for later this year. The clearer we can track the flow, the sooner we can eradicate the tax evasion. To this end, working with LDC governments is very important - and can get better responses than just in the EU.

Bo Harald
Bo Harald - Transmeri, Demos, Real Time Economy Program,MyData - Helsinki Region 01 March, 2014, 15:02Be the first to give this comment the thumbs up 0 likes

We are focusing on automation of VAT-reporting. A move to real time payments is another aspect - and that has to be an EU-wide move for obvious reasons and enterprises should be compensated for the loss of interestfree financing this would be.

 

 

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 04 March, 2014, 11:44Be the first to give this comment the thumbs up 0 likes

Reading about "No Invoice Policy" brought back the old memory of reading about support for the related "Evaluated Receipts Settlement" feature in a leading ERP in the late '90s. At the time, I was stunned about how technology could be used to cut costs, increase accuracy and all those nice things. I continue to be stunned now, but about why ERS hasn't quite taken the world by storm yet. Although there might be a few early adapters of ERS, I've come across just one company - a Top 5 USA Bank - to have implemented ERS in these 15 years. Goes to show why, on certain things like business processes, people tend to overestimate the amount of change even in 10 years.

Bo Harald

Bo Harald

Chairman/Founding member, board member

Transmeri, Demos, Real Time Economy Program,MyData

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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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