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0
 	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  	
  Real	
  Time	
  	
  
	
  	
  	
  	
  	
  ...
Real	
  Time	
  Economy	
  –	
  a	
  new	
  paradigm	
  
1. 
2. 
3. 
4. 
5. 
6. 

What	
  are	
  Extended	
  Payments	
  S...
1.	
  What	
  are	
  extended	
  payments	
  services?	
  
(1/2)	
  
1.  New	
  era	
  started	
  by	
  creaIng	
  EU	
  E...
1.	
  What	
  are	
  extended	
  payments	
  services?
(2/2)	
  
6.	
  Data	
  extracGon	
  services	
  =	
  reuse	
  stru...
The	
  base	
  is	
  structured	
  e-­‐invoicing	
  (NOT	
  
PDF-­‐based)	
  –	
  fast	
  migraGon	
  needed.	
  
How	
  to	
  get	
  there	
  –	
  e-­‐invoicing	
  
Two	
  key	
  recommendaGons	
  
implemented:	
  
-­‐	
  	
  	
  	
  N...
StandardizaGon	
  breakthrough	
  in	
  extended	
  payments	
  

Coming:
ISO20022 for factoring
ISO 20022 Tax Invoice
ISO...
EC	
  Expert	
  Group	
  on	
  e-­‐Invoicing	
  

Crystal	
  clear	
  mindset:	
  

Paper	
  invoices	
  	
  
have	
  NO	
...
Example	
  from	
  globally	
  leading	
  
manufacturer	
  of	
  fine	
  paper	
  
United	
  Paper	
  Mills	
  le/er	
  to	...
Next	
  BIG	
  thing	
  –	
  Data	
  ExtracGon
	
  
Seller

Invoice file

E-Invoice file (any format)

Operator
Extracting...
Real-­‐Time	
  VAT
	
  

ISO20022
ISO20022

ISO20022

ISO20022
ISO20022
ISO20022
Automated	
  accounGng	
  
1.	
  Especially	
  easy	
  for	
  cash	
  based	
  accounIng	
  –	
  
recommended	
  in	
  VAT...
2.	
  How	
  does	
  this	
  lead	
  to	
  a	
  Real	
  Time	
  Economy	
  

1. Better Productivity
2. Better Service
3. B...
Real	
  Time	
  Economy	
  
• 
• 
• 

• 

Real	
  Time	
  –	
  the	
  very	
  nature	
  of	
  Internet	
  –	
  and	
  espe...
RTE	
  –	
  NaGonal	
  Co-­‐InnovaGon	
  program
	
  
Full	
  
SEPA	
  

FVC	
  

FIA1	
  

FIA2	
  

SME50	
  

2006	
  
...
SME50	
  –	
  Overriding	
  MoGvaGon
	
  
Cu7ng	
  Administra;ve	
  costs	
  in	
  half	
  +	
  …
	
  
SME	
  50	
  is	
  ...
3.	
  Why	
  important	
  for	
  Society	
  at	
  Large	
  
(1/2)	
  
1.	
  E-­‐invoicing	
  and	
  payment	
  automaIon:	...
3.	
  Why	
  important	
  for	
  Society	
  at	
  Large	
  
(2/2)	
  
2.	
  Next	
  layers:	
  
-­‐  PotenIal	
  from	
  V...
General	
  dilemma	
  	
  
1.  The	
  highest	
  performing	
  companies	
  have	
  well	
  
developed	
  systems	
  for	
...
simple insight
….simple insight - that the
only thing scarce in a world
of abundance is human
attention.”

Less	
  Gme	
  ...
Innovation ladder example from
banking
High volume service
improvements
8. Mobile payment
approvals

7. Extract VAT data f...
5.	
  What	
  are	
  e-­‐ID	
  services?	
  
1.	
  The	
  public	
  sector	
  and	
  other	
  service	
  providers	
  enco...
6.	
  Why	
  important	
  for	
  Society	
  at	
  Large?	
  
1.  Public	
  sector	
  and	
  many	
  other	
  services	
  n...
E-Id used
32,3m times – EU
Equivalent would be
2,26 bn times..

24	
  
Banks & insurance
Pankin asiakas Pankin yritys-asiakas

Utilities
Sähköasiakas

Sähkö yritysasiakas

Same familiar e-tools...
The	
  best	
  innovaIon	
  is	
  osen	
  	
  
Reuse	
  of	
  a	
  familiar	
  tool	
  	
  	
  
For	
  new	
  purposes	
  
It	
  is	
  all	
  about	
  human	
  behaviour….	
  
o  "What	
  I	
  hear,	
  I	
  forget.	
  	
  
! 	
  What	
  I	
  see...
8.	
  Conclusion	
  
"We	
  tend	
  to	
  overesGmate	
  the	
  effect	
  of	
  a	
  
technology	
  in	
  the	
  short	
  r...
e-­‐invoicing,	
  data	
  extracGon,	
  eID,	
  etc	
  
Only	
  banks	
  	
  
can	
  make	
  the	
  mass	
  market	
  brea...
Start	
  early	
  –	
  let	
  mature	
  –	
  implement	
  
gradually	
  
“Any hype will do”
Early start: “Explorer”
Late (...
Should	
  be	
  remembered	
  

It	
  is	
  not	
  DEMAND	
  that	
  creates	
  SUPPLY	
  
It	
  is	
  the	
  other	
  way...
“Do	
  not	
  go	
  where	
  the	
  puck	
  is	
  >	
  	
  

go	
  where	
  it	
  is	
  going!”	
  
Wayne Gretzky

32	
  
...
The future is not planned
nor prognosed

It is created !
Video: http://www.youtube.com/watch?
v=Kb3q2viAbbk&feature=youtu....
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Rte and e id - berlin

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Transcript of "Rte and e id - berlin"

  1. 1.                                          Real  Time                                                Economy                                                and  E-­‐id   BERLIN   17-­‐18.2.2014    Bo  Harald    
  2. 2. Real  Time  Economy  –  a  new  paradigm   1.  2.  3.  4.  5.  6.  What  are  Extended  Payments  Services   How  do  these  lead  to  a  Real  Time  Economy   Why  important  for  Society  at  Large   What  are  E-­‐ID  services   Why  important  for  Society  at  Large   Conclusion  
  3. 3. 1.  What  are  extended  payments  services?   (1/2)   1.  New  era  started  by  creaIng  EU  EPI  (electronic  payment   iniIator)  and  including  it  into  e-­‐invoices  =  spliQng  invoice   received-­‐process  into  approval  and  automated  payment.   2.  Next  step  was  for  banks  was  to  move  to  eInvoicing  –  simple   one-­‐click  approval  of  payment  proposiIon  on  receiving  side   and  simple  e-­‐bank  key-­‐in  for  SMEs  and  reuse  of  payment   file  services  for  larger  enterprises  on  the  sending  side.   3.  Same  service  for  consumer  e-­‐invoicing.   4.  Document  hotel  services  and  aYachments  supported.   5.  Any  format-­‐in  and  any-­‐format  out  to  support  global  reach.  
  4. 4. 1.  What  are  extended  payments  services? (2/2)   6.  Data  extracGon  services  =  reuse  structured  e-­‐invoice   data  for  mulIple  reporIng  purposes   7.  Automated  accounIng  –  Account  Statement  3.0..   8.  Automated  cash  flow  esImates   9.  Automated  invoice  financing   10.  Mobile  “a”  payment  approval     11.  Focus  on  payment  receiver  iniGated  payments  (self-­‐ billing  also  supports  it)    –  to  get  full  automaIon  and   Real  Time  compleIon   Banks  do  not  have  to  (should  not)  invest  for  the  above  –   can  use  cloud  service..  Low  integraIon  grade  –  easy..  
  5. 5. The  base  is  structured  e-­‐invoicing  (NOT   PDF-­‐based)  –  fast  migraGon  needed.  
  6. 6. How  to  get  there  –  e-­‐invoicing   Two  key  recommendaGons   implemented:   -­‐        New  VAT  direcIve  –  equal  treatment   and  cash  based  accounIng     -­‐  ISO20022  global  message  standard   (UNCEFACT  CII  v2  based)   Next:     Harmonized  and  automated  VAT-­‐ reporIng  (DG  Taxud  driving  –  RTE   created  ISO20022  Tax  Report)  
  7. 7. StandardizaGon  breakthrough  in  extended  payments   Coming: ISO20022 for factoring ISO 20022 Tax Invoice ISO 20022 e-order 20022 e-invoice 20022/11649 creditor reference Invoice Seller Invoice Biller Service Provider Invoice Buyer Service Provider Buyer 20022 payment 20022 XML account statement Biller’s Bank Payment Infrastructure 7   Buyer’s Bank 20022 XML account statement 2010-04-07
  8. 8. EC  Expert  Group  on  e-­‐Invoicing   Crystal  clear  mindset:   Paper  invoices     have  NO  future     in  EU   8 2010-­‐11-­‐21  
  9. 9. Example  from  globally  leading   manufacturer  of  fine  paper   United  Paper  Mills  le/er  to  suppliers:   “Esteemed  trading  partner,   UPM  moves  to  electronic  invoice  pracIces   from  1.7.2009  onwards.  In  pracIse  this   means  that  the  company  only  accepts   electronic  invoices.     ….   From  the  beginning  of  2010  UPM  will  have  to   return  paper  invoices  to  the  senders….”   Model  case:  NO  scanning  
  10. 10. Next  BIG  thing  –  Data  ExtracGon   Seller Invoice file E-Invoice file (any format) Operator Extracting data Account statement 3.0 > Real Time accounting Real Time Cash flow forecasts Real Time Invoice financing Buyer1 Mail Domestic VAT EU - VAT Tax inspection Intrastat Forecasting E-mail (PDF) Buyer2 Buyer3
  11. 11. Real-­‐Time  VAT   ISO20022 ISO20022 ISO20022 ISO20022 ISO20022 ISO20022
  12. 12. Automated  accounGng   1.  Especially  easy  for  cash  based  accounIng  –   recommended  in  VAT-­‐direcIve  –  up  to  2m€   turnover   2.  Simple  to  implement  by  adding  needed  data  from  e-­‐ invoice  to  debit  or  credit  in  electronic  account   statement   3.  Standard  feature  in  SME  e-­‐bank     4.  Can  be  used  also  for  private  customers   5.  Path  to  eliminaIng  also  card  payment  receipts  
  13. 13. 2.  How  does  this  lead  to  a  Real  Time  Economy   1. Better Productivity 2. Better Service 3. Better Environment 4. Better Co-innovation 5. Better Jobs Photo: Sachyn
  14. 14. Real  Time  Economy   •  •  •  •  Real  Time  –  the  very  nature  of  Internet  –  and  especially  in   networked  services     When  all  is  digitalised  -­‐  anything  else  than  real  Ime  in   service  layer  is  unnatural  >  this  also  moves  to  IT-­‐processing     X-­‐  network  DigitalizaIon  >  x-­‐network  AutomaIon  >  x-­‐ network  Real  Time  service  >  x-­‐network  Real  Time   administraIon   TransacIons  start  and  end  in  the  same  moment    
  15. 15. RTE  –  NaGonal  Co-­‐InnovaGon  program   Full   SEPA   FVC   FIA1   FIA2   SME50   2006   2008   2009   2010   2012   Full  SEPA     (Full  Single   European   Payment  area)   -­‐ SEPA  payments     -­‐ E-­‐invoicing   FVC     (Full  Value  Chain)   -­‐  Harmonizing   value  chain   development   FIA  1     FIA  2     -­‐   E-­‐accounIng   reference   (IliöinIviite)   -­‐   Standard  for   Electronic  Financial   ReporIng   ( www.raportoinIkood isto.fi  )   -­‐ Global  e-­‐invoicing   standard  ISO20022   -­‐ European  e-­‐ invoicing  work   -­‐   Electronic   Financial  Statement   and  XBRL   -­‐ Fully  Integrated   Payroll  (FIP):  Payroll   reporIng  codes  and   pracIces   -­‐   Real-­‐Time  VAT   -­‐ European  e-­‐ invoicing  work   (  Fully  Integrated   AccounIng  1)   1.1.2009-­‐30.6.2010   (Fully  Integrated   AccounIng  2)   1.8.2010-­‐30.12.201 1   SME  50   (’AdministraIve  costs   in  half…’)     2012-­‐2013   1.  AFA  –  Automated   Financial   AdministraIon   2.  FAR  –  Fully   Automated   ReporIng   3.  ERM  –  Enterprise   Risk  MiIgaIon   4.  SIM  –  Sustainability   Intelligence   Management    
  16. 16. SME50  –  Overriding  MoGvaGon   Cu7ng  Administra;ve  costs  in  half  +  …   SME  50  is  building  on  the  EC  DG  Enterprise  public  sector  “red   tape”  iniGaGve  (reduce  cost  of  administraIve  burden  by  25%  by   2012).     SME  50  focuses  on  soluIons  for  automaGon  of  administraGve   processes  to  1.  cut  costs  (addiIonal  25%),    2.    lower  risks  and  3.   improve  financing  and  cash  management  within  the  enterprises.     SME  50  automates  processes  to,  1.  save  costs,  2.  lower  risks,  3.   improve  cash  management  and  4.  collect  taxes  due  for  the   public  sector   1.3.2014   Photo: www.sxc.hu
  17. 17. 3.  Why  important  for  Society  at  Large   (1/2)   1.  E-­‐invoicing  and  payment  automaIon:   -­‐  Enterprises  in  Finland  can  save  2,8bn€/year  in  b2b  (Employer’s   AssociaIon)   -­‐  Municipals  can  save  150m€/year  (Municipals  AssociaIon)   -­‐  State  sector  can  save  150m€/year  (State  Treasury)   -­‐  Investment  needs  are  minimal/small   -­‐  -­‐  -­‐  -­‐  EU-­‐esImate  –  at  least  250bn€/year   EU-­‐harmonizaIon  –  Single  Market  driver   Cost-­‐efficient  and  efficient  grey  economy  counter-­‐   measure   10m  tonnes  less  CO2    
  18. 18. 3.  Why  important  for  Society  at  Large   (2/2)   2.  Next  layers:   -­‐  PotenIal  from  VAT-­‐reporIng  automaIon  in  Finland  –  420m€   (EU  30bn…)   -­‐  PotenIal  from  automaIng  SME  accounIng  in  Finland  –   200m€  (EU  14bn..)   -­‐  Very  large  cost  savings  in  public  sector   -­‐  Further  efficiency  gains  on  other  reporIng     -­‐  Just  tax  collecIon  
  19. 19. General  dilemma     1.  The  highest  performing  companies  have  well   developed  systems  for  killing  ideas  that  their   customers  don't  want.     2.  As  a  result,  these  companies  find  it  very  difficult  to   invest  adequate  resources  in  DISRUPTIVE   technologies  -­‐  lower  margin  soluIons  -­‐  that  their   customers  don't  want  –   3.  unGl  their  customers  want  them.     4.  And  by  then  it  is  too  late!     Clayton  M.  Christensen  in  The  Innovator’s  Dilemma  
  20. 20. simple insight ….simple insight - that the only thing scarce in a world of abundance is human attention.” Less  Gme  for  any  one  thing...  >  quest  for     clarity,  clinical  simplicity,  holisGc  collaboraGve   offerings  and  repeatability    
  21. 21. Innovation ladder example from banking High volume service improvements 8. Mobile payment approvals 7. Extract VAT data from einvoice > automated reporting 6. Integrate e-invoice with account statement > automated accounting 5. Receive e-invoice for 1click or automated payment 4. Send e-invoice – just like a payment 2.e-banking credentials connecting 3rd parties 3. Bill payment habit > ecommerce payment Big productivity improvements 1. e-banking usage 21   2006-03-23 2010-11-21
  22. 22. 5.  What  are  e-­‐ID  services?   1.  The  public  sector  and  other  service  providers  encourage   bank  customers  use  their  e-­‐bank  credenIals  when  strong  e-­‐id   is  needed.   2.  Banks  provide  service  to  other  sectors  in  4-­‐corner  model  –   and  sell  e-­‐id  also  to  unbanked  ciIzens.   3.  Banks  use  e-­‐id  as  loan  signature  and  progressively   eliminate  all  need  for  paper.   4.  Also  used  for  signing  documents  between  3rd  parIes  –  also   in  employee  role   4.  Immediacy  important  Real  Time  Economy  aspect.    
  23. 23. 6.  Why  important  for  Society  at  Large?   1.  Public  sector  and  many  other  services  need  strong  e-­‐id   and  e-­‐signed  commitments  and  contracts.   2.  Bank  e-­‐ID  volumes  are  typically  some  20  Imes  higher   than  all  other  sectors  –  together.  Does  not  make  sense  to   create  separate  tool  all  over  the  place..   3.  Using  ready  bank  tools  saves  tax  payers’  costs  massively   and  above  all  brings  in  ready  habit  and  trust   4.  Bank  tools  have  to  be  and  stay  strong  and  anI-­‐money   laundering  legislaIon  guarantees  aYenIon  to  idenIfying   ciIzens  properly  in  account  opening  situaIons  -­‐  anyway  
  24. 24. E-Id used 32,3m times – EU Equivalent would be 2,26 bn times.. 24  
  25. 25. Banks & insurance Pankin asiakas Pankin yritys-asiakas Utilities Sähköasiakas Sähkö yritysasiakas Same familiar e-tools - embedded Often used and trusted e-tools for e-id, e-signatures, e-payments, payments-integrated e-invoicing Mr. Same Guy Same familiar e-tools.. Terveyskeskusasiakas Public sector Same familiar e-tools - embedded Same tools across: - Roles and - Services Operaattoriasiakas Oprin yritysasiakas Telecom
  26. 26. The  best  innovaIon  is  osen     Reuse  of  a  familiar  tool       For  new  purposes  
  27. 27. It  is  all  about  human  behaviour….   o  "What  I  hear,  I  forget.     !   What  I  see,  I  remember.     "   And  what  I  do,  I  understand.“   Time  to  connect..  
  28. 28. 8.  Conclusion   "We  tend  to  overesGmate  the  effect  of  a   technology  in  the  short  run     and     underesGmate  the  effect  in  the  long  run.”   Amara’s  law  
  29. 29. e-­‐invoicing,  data  extracGon,  eID,  etc   Only  banks     can  make  the  mass  market  breakthrough  fast  and  economical   using:   1.    Ready  local  and  global  standards  (ISO20022)   2.    omnipresent  net-­‐banks  as  interface,     3.    the  payment  system  for  transport     4.    account  statements  for  automated  accounIng   5.    data  extracIon  for  automated  VAT  etc  reporIng     6.    massively  used  e-­‐bank  credenIals  for  3rd  party  strong  e-­‐id  and  signatures   7.    their  massive  sales  power  for  MAKING  IT  HAPPEN.  
  30. 30. Start  early  –  let  mature  –  implement   gradually   “Any hype will do” Early start: “Explorer” Late (re)start: “Panicky follower” “ICE AGE” 2006-03-23 “ICE AGE” Page 30
  31. 31. Should  be  remembered   It  is  not  DEMAND  that  creates  SUPPLY   It  is  the  other  way  around   Henry  Ford  
  32. 32. “Do  not  go  where  the  puck  is  >     go  where  it  is  going!”   Wayne Gretzky 32   2010-11-21
  33. 33. The future is not planned nor prognosed It is created ! Video: http://www.youtube.com/watch? v=Kb3q2viAbbk&feature=youtu.be Thank you haraldbo10@gmail.com, http://boharald.blogspot.com 33
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