What is meant by digital economy?

Digital economy and real-time economy refer to a whole in which all business transactions are based on machine-readable information and its processing. There will no longer be any need for manual entries, data transfers and reporting, as data moves between actors in a pre-defined format and securely between different actors.

For companies, digital economy means achieving the following goals by 2030:

  • The company’s entire life cycle from establishment to closure has been digitalised. The company has a digital identity and a digital wallet, which enable reliable and secure identification, associating digital receipts with the right business partner, and sharing information about the company.
  • The company can produce all orders, invoices and receipts electronically and in machine-readable format. In practice, for example, invoices are online invoices, receipts are eReceipts.
  •  Financial information is transferred seamlessly in a standardised form to different authorities and cooperating parties through interfaces.

In a digital economy

  • E-invoices, digital receipts and other financial business information are transmitted between parties in a seamless, automated, real-time and secure manner
  • E-invoices and digital receipts are also used by small companies on a daily basis
  • Electronic services and systems communicate with each other
  • Electronic services also meet the needs of (small) companies
  • Companies no longer need to do manual work to meet official obligations.

A common ecosystem and infrastructure eliminates the need for industry-dependent solutions. This means that there will only be interoperable easy-to-use services in the market designed to meet companies’ needs.

, Updated 3.7.2023 at 09:56