How can companies benefit from the digital economy?

Companies can monitor their financial situation in real time

  • Small companies can also incorporate real-time cash and inventory management into their operations.
  • With real-time financial administration, companies are better equipped to anticipate future payments and official obligations.
  • Companies can fully trust their contracting partners when they have access to up-to-date and real-time data. Services can be developed for companies allowing them to quickly check their business partners’ registrations and financial situation and to verify that the partners have paid all taxes and met all other obligations.
  • Highly mobile electronic vouchers help companies to realise sales revenue more quickly.
  • Applying for support in exceptional situations is easier.

The administrative burden will be eased

  • Different systems and services communicate with each other because the information is machine-readable (in structured format).
  • Companies no longer need to transfer data manually as reliable partners can exchange information in an agreed manner via interfaces.
  • Orders, delivery data and invoices can be transmitted automatically between actors and to required systems.
  • Companies no longer need to collect information manually from different sources to monitor and forecast business operations. The information is updated in real time as business transactions accumulate.
  • Using a structured identity based on business information, companies can easily check the reliability of their trading partners.
  • Mandatory data retention becomes easier when all vouchers are in structured and electronic format from the outset and no paper documents are needed.

Reporting can be carried out quickly and accurately

  • Official reports and notifications can be submitted automatically: government agencies can use information that has already been supplied once.
  • There are fewer unintentional errors and clarification requests resulting from them.
  • Data can be transmitted to other companies, service providers and government agencies easily, quickly and in a secure manner.
, Updated 11.3.2022 at 09:06