21 February 2017
Bo Harald

Good for society at large

Bo Harald - ZEF and Real Time Economy Program

339Posts 1,217,687Views 230Comments

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

13 March 2014  |  1610 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)

Latest posts from

Bo's profile

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

Bo's expertise

Member since 2008
338 posts230 comments

Who's commenting on Bo's posts