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.

Vision: Finland is the most competitive operating environment in 2030

  • The digital ecosystem for businesses is interoperable both nationally and with other Nordic countries and the EU ​
  • The entire life cycle of companies is digitalised, and companies have the capacity to operate digitally from the beginning ​
  • A shared ecosystem and infrastructure enable sector-independent solutions ​
  • Structured orders, e-invoices, e-receipts and other business data are transmitted between parties in a seamless and secure manner in real time​
  • Structured data can be analysed, processed and utilised between companies, in public administration and for the needs of the entire society​
  • New innovative services are created based on real-time data.

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.

RTE benefits to the society at large

According to studies commissioned by the RTE project, the large-scale use of digital procurement documents, eInvoices and eReceipts would bring annual savings of approximately 6 billion euros to companies and public administration in 2030.

Digital business documents accumulate financial data, which can be used and processed on a large scale in the company’s own operations, public administration, and market information services.

, Updated 29.2.2024 at 15:01