Benefits

The main benefits of the ecosystems may be summed up as follows:

  • Less administrative burdens and time savings for SMEs by automatic financial processes and reporting
  • Improved access to quality data for innovation and new data based services, such as BI and credit information
  • Improved data for more efficient government and administrative purposes, such as policy initiatives and automatic control
  • Transparent market and increased trust in business partners
  • Fair competition in the market with improved transparency and tax control
  • Better competition and a more effective Nordic market – and thus a higher value creation in our region.
     

Results

  • Data model – data/information management and governance is elaborated.
  • Security aspects are addressed and concluded manageable.
  • A data warehouse based on standardised interface and detailed structured transaction data proves the possiblility of automatic aggregation of financial reports.
  • The business case for B2B processes on financial information showsyearly benefits in the range of 250 to 270 billion NOK.
  • More than 70 key stakeholders in the region were interviewed about the SmartGovernment vision on financial data. In general, the Nordic stakeholders believe in the vision, and find benefits greater than the possible risks.
  • Business and application architecture is outlined.