How will digital economy change financial administration?

Digital economy will boost efficiency and productivity in financial administration. The Real-Time Economy project supports companies in their efforts to fully automate their financial administration. Automation is enabled, for example, so that businesses start using electronic, structured vouchers, such as e-invoices, eReceipts and procurement messages. According to estimates, with the help of electronic messages, businesses can save hundreds of millions of euros in working time and costs every year.


An e-invoice is a machine-readable invoice that is sent directly to a financial administration program or an online bank. E-invoice is a quick, easy and secure way to transmit invoices to customers. E-invoice provides a basis for real-time and automated financial administration. By automating your company’s financial administration, you can make your financial processes more efficient, improve data quality, reduce errors and eliminate costly manual work.

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An eReceipt is an electronic receipt that can be relayed in a structured, machine-readable form from the seller directly to the application of the buyer’s choice.
A pdf or an image of the receipt sent as an email attachment is not an eReceipt.

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Procurement messages

  • Procurement messages are structured trading information that can be automatically processed.
  • Procurement messages are used in order and delivery processes.
  • A procurement message may be an order, an order confirmation or a product catalogue.
  • Procurement messages promote the automation and efficiency of business processes.

The focus in the Real-Time Economy project is on electronic messages transmitted in the order process, on their specifications and on expanding their use. A purchase is preceded by competitive tendering, invitation to tender, tender, purchase decision and contract. However, these stages and the need to digitalise them are outside the scope of this project.

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, Updated 28.8.2023 at 13:50