• Bo Harald , Chairman/Founding Member at ZEF, Transmeri, Real Time Economy Program


• 22.11.2017 10:15 am
undisclosed

Take structured e-invoicing (PDFs are pictures - worse than paper). Steps:

1. Go for a four courner model and choose a standard for all to use.

2. Convince also banks to join with the basic e-invoicing service  where any enterprenaur (20m SMEs in EU) can fill in the invoice form and press send. For repeat invoices it means copy+new invoice number + new amount + send. Nobody can claim that this is difficult.

3. For higher volumes convince ERP providers to deliver invoices in the standard into file transfer.

4. Buyers to make it mandatory - starting from the public sector (saving tax payer's money on the top of any politicians and civil servants agenda + followed by mission to nudge all enterprises across tresholds to digitalization..

5. Save some 250 bn€ on EU-level, lower risk costs and cut the grey economy

Then move to e-receipts. Steps

1. Go for four-corner model and use the same standard.

2. Convince all e-invoicing service providers to join in and deliver the receipt to the e-adress chosen by the buyer (accounting firms or e-banking)

3. Convince POS-equipment providers to join and support the standard

4. Buyers make it mandatory - starting from the public sector

5. Save some 60 bn€ on EU-level lower risk costs and cut the grey economy

Then move to automated real time accounting (XBRL), VAT-reporting (ISO ready) etc and make it mandatory. Can we really afford dragging our feet?

This article originally appeared at: finextra