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

Background	
  
The	
  Real	
  Time	
  Ec...
Challenges in a borderless world
1.  The effects of digitalization in an open global economy
on us, our customers and nati...
Technology	
  moving	
  from	
  process	
  enabler	
  to	
  
smart	
  Networked	
  Economy	
  driver
	
  

Networked
Econo...
2.	
  Trends	
  and	
  Megatrends	
  (1/2)	
  
1.  Capability	
  of	
  IT	
  is	
  doubling	
  at	
  constant	
  price	
  ...
2.	
  Trends	
  and	
  Megatrends	
  (2/2)	
  
4.	
  Cloud	
  service	
  opportunity	
  >	
  new	
  levels	
  of	
  
inter...
Your	
  customers	
  have	
  clear	
  goals..	
  
Speed up digitalization!
1.  Sell	
  more	
  
2.  Create	
  customer	
  ...
General	
  dilemma	
  	
  
1.  The	
  highest	
  performing	
  companies	
  have	
  well	
  
developed	
  systems	
  for	
...
Real	
  Time	
  Economy	
  –	
  a	
  new	
  paradigm	
  
1. 
2. 
3. 
4. 
5. 
6. 

Background	
  
The	
  Real	
  Time	
  Ec...
RTE	
  –	
  NaJonal	
  Co-­‐InnovaJon	
  program
	
  
Full	
  
SEPA	
  

FVC	
  

FIA1	
  

FIA2	
  

SME50	
  

2006	
  
...
SME50	
  –	
  Overriding	
  MoJvaJon
	
  
Cu;ng	
  Administra.ve	
  costs	
  in	
  half	
  +	
  …
	
  
SME	
  50	
  is	
  ...
Real-­‐Time	
  Economy	
  for:	
  

1. Better Productivity
2. Better Service
3. Better Environment
4. Better Co-innovation...
Real	
  Time	
  Economy	
  –	
  a	
  new	
  paradigm	
  
1. 
2. 
3. 
4. 
5. 
6. 

Background	
  
The	
  Real	
  Time	
  Ec...
How	
  to	
  get	
  there	
  –	
  e-­‐invoicing	
  
Two	
  key	
  recommendaJons	
  
implemented:	
  
-­‐	
  	
  	
  	
  N...
EC	
  Expert	
  Group	
  on	
  e-­‐Invoicing	
  

Crystal	
  clear	
  mindset:	
  

Paper	
  invoices	
  	
  
have	
  NO	
...
e-­‐Invoicing	
  Business	
  case	
  
-­‐ 

Enterprises	
  in	
  Finland	
  can	
  save	
  2,8bn€/year	
  in	
  b2b	
  
(E...
Example	
  from	
  globally	
  leading	
  
manufacturer	
  of	
  fine	
  paper	
  
United	
  Paper	
  Mills	
  le/er	
  to	...
Real	
  Time	
  Economy	
  –	
  a	
  new	
  paradigm	
  
1. 
2. 
3. 
4. 
5. 
6. 

Background	
  
The	
  Real	
  Time	
  Ec...
Bigger	
  reporJng	
  picture
	
  
Seller

Invoice file

E-Invoice file (any format)

Operator
Extracting
data

Account
st...
Real-­‐Time	
  VAT
	
  

ISO20022
ISO20022

ISO20022

ISO20022
ISO20022
ISO20022
StandardizaJon	
  breakthrough	
  in	
  extended	
  payments	
  

Coming:
ISO20022 for factoring
ISO 20022 Tax Invoice
ISO...
Real	
  Time	
  Economy	
  –	
  a	
  new	
  paradigm	
  
1. 
2. 
3. 
4. 
5. 
6. 

Background	
  
The	
  Real	
  Time	
  Ec...
simple insight
….simple insight - that the
only thing scarce in a world
of abundance is human
attention.”

Less	
  Jme	
  ...
Bank customer Bank corporate customer

Utility customerCorporate utility customer

My name is Guy
Same Guy

Citizen in pub...
Banks & insurance
Pankin asiakas Pankin yritys-asiakas

Utilities
Sähköasiakas

Sähkö yritysasiakas

Same familiar e-tools...
Innovation ladder example from
banking
High volume service
improvements
8. Mobile payment
approvals

7. Extract VAT data f...
Not user friendly..

Economy of repetition
The	
  best	
  innovaHon	
  is	
  open	
  	
  
Reuse	
  of	
  a	
  familiar	
  tool	
  	
  	
  
For	
  new	
  purposes	
  
It	
  is	
  all	
  about	
  human	
  behaviour….	
  
o  "What	
  I	
  hear,	
  I	
  forget.	
  	
  
! 	
  What	
  I	
  see...
EU	
  focus	
  on	
  e-­‐invoice	
  	
  
Only	
  banks	
  	
  
can	
  make	
  the	
  mass	
  market	
  breakthrough	
  usi...
EU-commission slide:

II.1	
  What	
  are	
  the	
  driving	
  forces	
  for	
  the	
  EU	
  to	
  act	
  
1.  The total c...
Nordics leading the
revolution
#1
Sweden
#3 Finland
Of	
  course..	
  
"We	
  tend	
  to	
  overesJmate	
  the	
  effect	
  of	
  a	
  technology	
  in	
  
the	
  short	
  run...
Real	
  Time	
  Economy	
  –	
  a	
  new	
  paradigm	
  
1. 
2. 
3. 
4. 
5. 
6. 

Background	
  
The	
  Real	
  Time	
  Ec...
Of	
  course..	
  
"We	
  tend	
  to	
  overesJmate	
  the	
  effect	
  of	
  a	
  technology	
  in	
  
the	
  short	
  run...
Start	
  early	
  –	
  let	
  mature	
  –	
  implement	
  
gradually	
  
“Any hype will do”
Early start: “Explorer”
Late (...
Technology	
  is	
  only	
  developed	
  when	
  
used	
  
The	
  early	
  automobiles:	
  
•  They	
  looked	
  like	
  h...
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

39	
  
...
The future is not planned
nor prognosed

It is created !
Video: http://www.youtube.com/watch?
v=Kb3q2viAbbk&feature=youtu....
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Swiss payment forum

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Swiss payment forum

  1. 1.                                          Real  Time                                                Economy   Swiss  Payment  Forum     27-­‐28.11.2013    Bo  Harald    
  2. 2. Real  Time  Economy  –  a  new  paradigm   1.  2.  3.  4.  5.  6.  Background   The  Real  Time  Economy  program   The  base  is  structured  e-­‐invoicing  -­‐  establish  it  fast   Move  to  the  next  layers  –  Data  ExtracHon   e-­‐  and  mobile  banking  criHcally  important   Conclusion  
  3. 3. Challenges in a borderless world 1.  The effects of digitalization in an open global economy on us, our customers and national economies have become very clear: there is nowhere to hide. 2. Only proactive actions to improve the value proposition and reduce the cost-base will secure the future. Real Time Economy services deliver both In the same click!
  4. 4. Technology  moving  from  process  enabler  to   smart  Networked  Economy  driver   Networked Economy Process Automation Personal Computing 1980 1990 2000 2010 2020 4
  5. 5. 2.  Trends  and  Megatrends  (1/2)   1.  Capability  of  IT  is  doubling  at  constant  price  on   yearly  basis  (ignore  at  your  peril..)   2.  Customers  expect  net-­‐based    services  –  Google  and   Facebook—like   3.  Opportunity  to  build  and  interconnect  vast  data     volumes  >  moving  from  self-­‐service  to    service  
  6. 6. 2.  Trends  and  Megatrends  (2/2)   4.  Cloud  service  opportunity  >  new  levels  of   interconnecHvity  and  in-­‐cloud  innovaHon   5.  Enabling  automaJon  of  everything  >  cut  SME   administraHve  cost  in  half  and  corresponding   savings  in  the  public  sector  (total  potenHal  4,5bn€/ pa  in  ICT2015  path2)   6.    Real  Time  compleHon  across  networks  is   increasingly  expected  and  needed  –  new  value   dimension  
  7. 7. Your  customers  have  clear  goals..   Speed up digitalization! 1.  Sell  more   2.  Create  customer  delight   Speed up digitalization! 3.  Lower  costs   Speed up digitalization! Digital  innovaHons  –  incremental  all  the  Hme  and   disrup.ve  from  Hme  to  Hme  -­‐    in  products,  services,  sales  and  administraHve   processes.     How  can  you  help  customers  to  proceed  –  beZer  and   faster?  Create  value  in  new  dimensions..    
  8. 8. 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  soluHons  -­‐  that  their   customers  don't  want  –   3.  unJl  their  customers  want  them.     4.  And  by  then  it  is  too  late!     Clayton  M.  Christensen  in  The  Innovator’s  Dilemma  
  9. 9. Real  Time  Economy  –  a  new  paradigm   1.  2.  3.  4.  5.  6.  Background   The  Real  Time  Economy  program   The  base  is  structured  e-­‐invoicing  -­‐  establish  it  fast   Move  to  the  next  layers  –  Data  ExtracHon   e-­‐  and  mobile  banking  criHcally  important   Conclusion  
  10. 10. RTE  –  NaJonal  Co-­‐InnovaJon  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-­‐accounHng   reference   (HliöinHviite)   -­‐   Standard  for   Electronic  Financial   ReporHng   ( www.raportoinHkood isto.fi  )   -­‐ Global  e-­‐invoicing   standard  ISO20022   -­‐ European  e-­‐ invoicing  work   -­‐   Electronic   Financial  Statement   and  XBRL   -­‐ Fully  Integrated   Payroll  (FIP):  Payroll   reporHng  codes  and   pracHces   -­‐   Real-­‐Time  VAT   -­‐ European  e-­‐ invoicing  work   (  Fully  Integrated   AccounHng  1)   1.1.2009-­‐30.6.2010   (Fully  Integrated   AccounHng  2)   1.8.2010-­‐30.12.201 1   SME  50   (’AdministraHve  costs   in  half…’)     2012-­‐2013   1.  AFA  –  Automated   Financial   AdministraHon   2.  FAR  –  Fully   Automated   ReporHng   3.  ERM  –  Enterprise   Risk  MiHgaHon   4.  SIM  –  Sustainability   Intelligence   Management    
  11. 11. SME50  –  Overriding  MoJvaJon   Cu;ng  Administra.ve  costs  in  half  +  …   SME  50  is  building  on  the  EC  DG  Enterprise  public  sector  “red   tape”  iniJaJve  (reduce  cost  of  administraHve  burden  by  25%  by   2012).     SME  50  focuses  on  soluHons  for  automaJon  of  administraJve   processes  to  1.  cut  costs  (addiHonal  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   4.3.2014   Photo: www.sxc.hu
  12. 12. Real-­‐Time  Economy  for:   1. Better Productivity 2. Better Service 3. Better Environment 4. Better Co-innovation 5. Better Jobs Photo: Sachyn
  13. 13. Real  Time  Economy  –  a  new  paradigm   1.  2.  3.  4.  5.  6.  Background   The  Real  Time  Economy  program   The  base  is  structured  e-­‐invoicing  -­‐  establish  it  fast   Move  to  the  next  layers  –  Data  ExtracHon   e-­‐  and  mobile  banking  criHcally  important   Conclusion  
  14. 14. How  to  get  there  –  e-­‐invoicing   Two  key  recommendaJons   implemented:   -­‐        New  VAT  direcHve  –  equal  treatment   -­‐  ISO20022  global  message  standard   (UNCEFACT  CII  v2  based)   Next:     Harmonized  and  automated  VAT-­‐ reporHng  
  15. 15. EC  Expert  Group  on  e-­‐Invoicing   Crystal  clear  mindset:   Paper  invoices     have  NO  future     in  EU   15 2010-­‐11-­‐21  
  16. 16. e-­‐Invoicing  Business  case   -­‐  Enterprises  in  Finland  can  save  2,8bn€/year  in  b2b   (Employer’s  AssociaHon)   -­‐  The  municipals  can  save  150m€/year  (Municipals  AssociaHon)   -­‐  The  state  sector  can  save  150m€/year  (State  Treasury)   -­‐  Investment  needs  are  minimal/small   How  get  there  fast?   1.  Simple  tool  for  even  the  smallest  enterprises   2.  StandardizaHon  to  speed  up  ERP-­‐adjustments   3.  Charge  for  paper   4.  Deadlines  –  public  sector  FIRST  out  
  17. 17. Example  from  globally  leading   manufacturer  of  fine  paper   United  Paper  Mills  le/er  to  suppliers:   “Esteemed  trading  partner,   UPM  moves  to  electronic  invoice  pracHces   from  1.7.2009  onwards.  In  pracHse  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  
  18. 18. Real  Time  Economy  –  a  new  paradigm   1.  2.  3.  4.  5.  6.  Background   The  Real  Time  Economy  program   The  base  is  structured  e-­‐invoicing  -­‐  establish  it  fast   Move  to  the  next  layers  –  Data  ExtracJon   e-­‐  and  mobile  banking  criHcally  important   Conclusion  
  19. 19. Bigger  reporJng  picture   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
  20. 20. Real-­‐Time  VAT   ISO20022 ISO20022 ISO20022 ISO20022 ISO20022 ISO20022
  21. 21. StandardizaJon  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 21   Buyer’s Bank 20022 XML account statement 2010-04-07
  22. 22. Real  Time  Economy  –  a  new  paradigm   1.  2.  3.  4.  5.  6.  Background   The  Real  Time  Economy  program   The  base  is  structured  e-­‐invoicing  -­‐  establish  it  fast   Move  to  the  next  layers  –  Data  ExtracHon   e-­‐  and  mobile  banking  criJcally  important   Conclusion  
  23. 23. simple insight ….simple insight - that the only thing scarce in a world of abundance is human attention.” Less  Jme  for  any  one  thing...  >  quest  for     clarity,  clinical  simplicity,  holisJc  collaboraJve   offerings  and  repeatability    
  24. 24. Bank customer Bank corporate customer Utility customerCorporate utility customer My name is Guy Same Guy Citizen in public sector service Enterprise in public sector service Operator customer Operator corporate customer
  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. 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 26   2006-03-23 2010-11-21
  27. 27. Not user friendly.. Economy of repetition
  28. 28. The  best  innovaHon  is  open     Reuse  of  a  familiar  tool       For  new  purposes  
  29. 29. 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..  
  30. 30. EU  focus  on  e-­‐invoice     Only  banks     can  make  the  mass  market  breakthrough  using:   1.    ready  standards  (ISO20022)   2.  omnipresent  net-­‐banks  as  interface,     3.  the  payment  system  for  transport  and     4.  their  massive  sales  power  for  MAKING  IT  HAPPEN.  
  31. 31. EU-commission slide: II.1  What  are  the  driving  forces  for  the  EU  to  act   1.  The total costs of (cash & electronic) payments to the economy ranges between 3 - 4% of GDP. 2. A shift to electronic payments* (example: Nordic countries) can half average cost of producing payments over a period of ten years and has a positive impact on consumption and GDP growth (10% increase in e- payments # 0,5 increase GDP). Payments-integrated e-invoicing will have a similar impact !!
  32. 32. Nordics leading the revolution #1 Sweden #3 Finland
  33. 33. Of  course..   "We  tend  to  overesJmate  the  effect  of  a  technology  in   the  short  run     and     underesJmate  the  effect  in  the  long  run.”   Amara’s  law   Especially  so  –  as  digital  innovaHons  x-­‐ferHlize  each  others  –  and   this  may  take  Hme..  
  34. 34. Real  Time  Economy  –  a  new  paradigm   1.  2.  3.  4.  5.  6.  Background   The  Real  Time  Economy  program   The  base  is  structured  e-­‐invoicing  -­‐  establish  it  fast   Move  to  the  next  layers  –  Data  ExtracHon   e-­‐  and  mobile  banking  criJcally  important   Conclusion  
  35. 35. Of  course..   "We  tend  to  overesJmate  the  effect  of  a  technology  in   the  short  run     and     underesJmate  the  effect  in  the  long  run.”   Amara’s  law   Especially  so  –  as  digital  innovaHons  x-­‐ferHlize  each  others  –  and   this  may  take  Hme..  
  36. 36. 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 36
  37. 37. Technology  is  only  developed  when   used   The  early  automobiles:   •  They  looked  like  horse  carriages   •  They  didn’t    go  faster   •  They  open  had  break  downs   •  They  where  a  good  deal  noisier   •  and  a  man  with  a  red  flag  had  to  go  in  front   There  where  absolutely  no  ra8onal  reason  to  use  them   •        -­‐  but  they  where  the  start  of  a  revolu8on!  
  38. 38. Should  be  remembered   It  is  not  DEMAND  that  creates  SUPPLY   It  is  the  other  way  around   Henry  Ford  
  39. 39. “Do  not  go  where  the  puck  is  >     go  where  it  is  going!”   Wayne Gretzky 39   2010-11-21
  40. 40. 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 40

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