What is meant by digital economy?

Digital economy or real-time economy is a system in which all business transactions are based on machine-readable data and the processing of this data. In the digital economy, there would no longer be any need for manual entries, data transfers and reports as data moves between actors on an integral, structured and secure basis.

For companies, digital economy means the achievement of the following goals by the year 2030:

  • A company’s entire life cycle (from the establishment of the company to its closure) has been digitalised. A company has a digital identity, which ensures reliable and secure identification between business partners and when dealing with government agencies.
  • A company can produce all orders, invoices and receipts electronically and in machine-readable format. For example, all invoices are e-invoices and all receipts digital receipts.
  •  Financial information is moved in a single transfer in standardised format to government agencies and business partners via interfaces.

In a digital economy

  • e-invoices, digital receipts and other financial information produced by companies 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 ensures that no sector-dependent solutions are created. This means that there will only be interoperable easy-to-use services in the market designed to meet companies’ needs.

, Updated 11.3.2022 at 13:50