• eReceipt and e-invoicing as enablers of the real-time economy

    Real-time economy refers to a fully digital economic system, where information on invoicing, receipts, reports and taxes paid are transferred immediately, or in real-time, between the various systems of different operators. This requires that sellers, buyers, financial institutions and the public sector, such as the tax administration, are able to share information seamlessly with each other from their systems. The realisation of real-time economy requires a unification of the reporting codes and systems of different operators.

    The transferability and automation of financial information enable growth in productivity and efficiency. In addition to financial savings, real-time information also provides companies with the opportunity to make decisions based on current information. In a broader sense, real-time economy also promotes the development of the single market in the European Union.

    The digitalisation of invoices and receipts required by real-time economy supports a new kind of service design that utilises information from different sources of private and public sector information. Investing in electronic services offered by the authorities also creates a basis for innovation in companies and reduces costs to companies.

    Real-time information also provides companies with the opportunity to make decisions based on current information. A real-time economy that includes e-invoicing, e-receipts and the automation of the payments system would generate tens of million euros in savings for the government. According to estimates, as far as companies are concerned, e-receipts could save approximately 800 million euros per year in labour costs for companies.

  • Topical

    The State Treasury is working hard to automate public sector financial administration as extensively as possible. This involves everything from online payments and e-invoicing to digital receipts. The State Treasury is in charge of steering the state’s payment transactions, developing the related processes and instruments, and monitoring the operative management of these transactions by the accounting units.

  • Contact information

    Inquiries: verkkkolaskustus(at)valtiokonttori.fi

    Keijo Kettunen
    Payment Transactions Manager
    tel. 0295 50 2408
    keijo.kettunen(at)valtiokonttori.fi
    Pirjo Ilola
    Senior Finance Administration Specialist
    tel. 0295 50 2081
    pirjo.ilola(at)valtiokonttori.fi
  • e-receipts automate transferring of the receipt data

    E-receipts (eKuitti) are digital receipts. Digital receipts will enable the automatic transfer of receipt data. E-receipts are rolled out to make paper receipts history. E-receipts will automate the transfer of receipt data, because on a digital receipt, data is automatically connected to the right transaction. In order to make this possible, the information on the receipt must be recorded in a format that can be utilised by different software programs and data analysis systems.

    Digital receipts will enable automatic transfer of receipt data. The digitalisation of receipts will also promote the shift to a real-time economy. eKuitti, or the digital receipt, is an important step towards a real-time economy. In a real-time economy, all financial transactions are based on digital structured data and the processing of that data. Structured data enables automation and robotisation as well as significant increases in productivity in both companies and public administration.

    The digital receipt is also intended to generate services that would store consumers’ e-receipts for the various needs that consumers may have. The e-receipt is part of the RTECO project entity by Technology Industries of Finland, where operators from different fields have come together since 2017 to build an ecosystem for real-time economy.

    See the final report of the RTECO project >

  • The e-receipt is piloted under the leadership of the State Treasury

    The first e-receipt pilots in the central government will start in the autumn of 2019. The State Treasury is in charge of piloting the digital receipt, eKuitti. The purpose of the pilots is to ensure that e-receipts work properly. The goal is to later expand the use of e-receipts in financial administration practices outside central government. The digital receipt is also intended to generate services that would store consumers’ e-receipts for the various needs that consumers may have.

    By 2025, e-receipts are set to become the shared, compulsory government solution, meaning that anyone dealing with the government would offer e-receipts. From the outset, e-receipts are designed to comply with the GDPR. In addition to being secure, e-receipts help fight the underground economy. These are all shared interests.

  • Where do we go in developing e-receipts?