New project to help companies digitalise their financial administration
The Real Time Economy project will create the conditions for companies to move to real-time economy. Invoices and receipts will be electronic, for example, and business information will be automatically transferred between different systems. Up-to-date information and its automated processing will increase productivity in both companies and public administration.
On 15 June 2021, the Ministry of Economic Affairs and Employment set up the Real Time Economy project for 2021–2024. The Finnish Patent and Registration Office coordinates the project.
“The Government wants to make Finland a leader in real-time economy. This project will develop basic solutions for the transition to real time, which in turn will help both companies and public administration to increase their productivity significantly,” says State Secretary Ville Kopra, who chairs the project’s steering group.
Government to promote digitalisation and real-time economy
The Real Time Economy project will implement the objectives of Prime Minister Marin’s Government Programme, including:
- promoting digitalisation in administration and society as a whole
- developing companies’ operating environment
- building the best public administration in the world
- introducing measures to combat the grey economy
- streamlining regulation and reducing unnecessary administrative burdens for companies.
The project is part of Finland’s Sustainable Growth Programme and it is funded by the EU’s Recovery and Resilience Facility (RRF). The Council of the European Union will make a final decision on whether it will approve the national programme during the summer of 2021.
Private sector and authorities to implement the project together
“Close cooperation between private and public operators is essential for the success of the project and for Finland to become a pioneer in the digital economy,” Kopra says.
The Ministry of Economic Affairs and Employment has appointed a steering group that consists of representatives of ministries, agencies and stakeholders. The steering group is tasked with guiding, supporting and monitoring the implementation of the project in accordance with its objectives and managing any significant changes to the project’s costs, objectives and schedule.
Composition of the steering group
Chair: Ville Kopra, State Secretary
Vice Chair: Antti Neimala, Director General
Laura Vilkkonen, Director General, Ministry of Transport and Communications
Terhi Järvikare, Director General, Ministry of Finance
Maria Nikkilä, Senior Adviser for Information Management, Ministry of Finance
Pekka Rehn, Deputy Director General, Digital and Population Data Services Agency
Antti Riivari, Director General, Finnish Patent and Registration Office
Markus Sovala, Director General, Statistics Finland
Timo Laitinen, Director General, State Treasury
Markku Heikura, Director General, Finnish Tax Administration
Leena Nyman, Adviser, Confederation of Finnish Industries EK
Taina Ahvenjärvi, Director, Finance Finland
Mari Kiviniemi, Managing Director, Federation of Finnish Commerce
Jarkko Huovinen, Director, Association of Finnish Municipalities
Jari Seppä, Managing Director, Suomen Taloushallintoliitto
Joonas Mikkilä, Head of Digital and Educational Affairs, Federation of Finnish Enterprises
Marja Hamilo, Adviser, Technology Industries of Finland
Ville Kopra, State Secretary, tel. +358 29 504 7184
Liisa Huhtala, Senior Ministerial Adviser, Ministry of Economic Affairs and Employment, tel. +358 29 504 7062