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TALTIO program promotes the use of structured data

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Suomen Taloushallintoliitto
Suomen Taloushallintoliitto

The TALTIO program creates a standard model for structured data, defining in which format invoice, receipt and account statement information, for example, can be entered into financial management systems without manual data entry. In the TALTIO program, integrations, data storages and reporting apps are implemented in different work packages according to the TALTIO model. The TALTIO program - promotes the digitalisation of small companies, associations and companies operating in the housing sector. - creates opportunities for managing the finance of private persons. - develops the services of accounting firms to address future needs.

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ASSOCIATION OF FINNISH ACCOUNTING FIRMS PROMOTES THE USE OF STRUCTURED DATA Vuokko M辰kinen Association of Finnish Accounting Firms, Chairwoman of the Board
Future of the accounting field Digitalisation and automation will reduce routine work The change is welcome, manual work in entering data is unnecessary and error-prone BUT what kind of digitalisation and automation do we want? We will need accounting experts also in the future We need real-time, comprehensive information in order to produce useful information to our customers The accounting sector can influence the future of the field by promoting the development of digital tools and services
Key challenges of financial management in SMEs - among the accounting sectors customers Information needed to manage companies day-to-day operations is not available (financial management information is narrow and based on statutory accounting) Accounting information is generated with a delay; usually 1.5 months old (e.g. VAT reporting) Generating financial management information is time-consuming and still requires a lot of manual work Most of the software used in the field are outdated and clumsy Obtaining the figures and forecasts needed for SME financing involves time- consuming manual work, which costs a lot to financiers and investors 3 The services produced must meet the needs of our customers.
Customers needs can be addressed with the help of structured data With structured data, we can decrease the amount of data entry work and the subsequent human errors Structured data are transferred from one system to another in a format that can immediately be utilised without manual work Structured data can be analysed by making use of the entire data content Structured data allows the development of entirely new services and quick reaction to situation-specific customer needs.
TALTIO PROGRAM Markku rn Program Director
6 Minister Berner gave a speech at the Account and Tax event arranged by the Association of Finnish Accounting Firms on 18 January 2016 The TALTIO program is part of a spearhead project managed by Anne Berner, Minister of Transport and Communications, which aims at building a growth environment for digital business. The goal of the package of measures, which focuses on the utilisation of large information materials and MyData, is to create internationally the best preconditions in Finland for business based on data use and for the growth of the field. Source: News from the Ministry of Transport and Communications 18 January 2016 http://www.lvm.fi/-/digitalisaatiohankkeessa-kehitetaan- alykkaampaa-liiketoimintaa
Foundations, goals and schedule of the TALTIO program Foundations The cost-efficiency of the financial management of one million companies and corporations translates into major savings for both companies and the national economy Allows a digital productivity leap in the SME sector (automation, risk management, etc.) A view to real-time information allows better decision-making Manual data entry is eliminated, financial experts help companies Easier to receive financing, thanks to more up-to-date financial information, and credit losses decrease Goals To create a consistent form for structured financial data so that it may be used in different systems To build an ecosystem model and to demonstrate the digitalised financial management of SMEs and corporations as a data storage solution complying with TALTIO To implement integrations between financial management systems and programs complying with the TALTIO data record description To create opportunities for accounting firms for new business in the utilisation of structured data To support housing sector digitalisation in the housing trade and its financing To also use the resulting TALTIO solution for the management of the finance of private persons Schedule: The schedule of the TALTIO program is March 2016 - October 2017
TALTIO program The TALTIO program creates a standard model for structured data, defining in which format invoice, receipt and account statement information, for example, can be entered into financial management systems without manual data entry In the TALTIO program, integrations, data storages and reporting apps are implemented in different work packages according to the TALTIO model The TALTIO program promotes the digitalisation of small companies, associations and companies operating in the housing sector The TALTIO program creates opportunities for managing the finance of private persons The TALTIO program develops the services of accounting firms to address future needs
Structured data development targets 1/2 Account statements The banks own fees as receipt-based information (service fees, loan withdrawals/instalments) eInvoice Minimum data content broadly into use Easy adoption of eInvoices and better reliability of services eInvoice addresses, location, simplifying addresses (Tiekes eInvoice address service will end in 2017) The UBL format used by European public procurements is taken into consideration in the TALTIO project (Peppol) eReceipt Completing and piloting the modelling of structured receipts in card and cash payments
Structured data development targets 2/2 TALTIO integration interface Data transfer between systems and programs according to the TALTIO standard Electronic archiving of accounting material in a consistent manner based on the TALTIO standard Ecosystem based on the TALTIO data storage A small business financial management package for micro-companies, associations, housing corporations and agricultural entrepreneurs The TALTIO database and the query and reporting apps utilising it Electronic financial statement Promoting the adoption of specified electronic financial statements Reporting code and electronic financial statements for housing corporations and housing companies, associations and foundations
TALTIO program promotes the use of structured data
Pirkka Frosti Fredrik Jansson Jani Karhunen Pirjo Ilola Elina Koskentalo Vuokko M辰kinen TALTIO Steering group TALTIO Standard TALTIO Integration TALTIO Data storage Persons responsible for TALTIO programs work packages TALTIO eReceipt Sirpa Airola TALTIO Account- ing firm services
Program outputs 1. TALTIO standard Allocating structured data to TALTIO data record description eInvoice (incl. UBL) Account statement eReceipt Allows the processing of different files in a consistent manner in the data storage, data transfer and data archiving without changing the structure of the original file. Reporting code and electronic financial statements for housing corporations and companies operating in the housing industry, associations and foundations. 10
Program outputs 2. TALTIO eReceipt Adoption of the modelled eReceipt taxonomy in trades cash register systems in order to produce structured receipt data Forwarding structured receipt data to the payers desired e-address for direct utilisation in the companys financial management or as private persons myData
Program outputs 3. TALTIO Integration Between existing and new financial management systems and software Transfer of data from the fixed assets register, stock control and payroll accounting to accounting or other software using a consistent data transfer standard Electronic structured archiving Required data from vouchers and invoices to the electronic archive as structured transactions complying with TALTIO, also allowing voucher visualisation without separate image appendices
Program outputs 4. TALTIO data storage pilot TALTIO data storage defined (data model specification) TALTIO saving and delivery layer TALTIO transactions, eInvoices, payments and account statements Interface specification, user right management specifications Specification of the application developers platform, developer advice and guidance TALTIO apps Apps for accounting firms and entrepreneurs for utilising data (e.g. accounting, VAT reporting, analysis, statistics)
Program outputs 5. Service development for accounting firms Promoting the use of structured data and improving the efficiency of work More efficient tools in collaboration with software companies New innovative service products based on customers needs Accounting firms adopt a more prominent role from recording realized information into a comprehensive service provider that refines financial data for use in the customers business and to support decision-making
Program outputs 6. Seminars and workshops Promoting the use of structured data in Finland Promoting the adoption of the operating models and outputs generated in the project Informing financial management stakeholders International cooperation export opportunities in the future Estonia Nordic NAF partners (Sweden and Norway) EU
Commerce TALTIO project and stakeholders Message formats Financing Housing corporations Book entry system eInvoice functionality TALTIO Steering group TALTIO Standard TALTIO Integration TALTIO Data storage TALTIO Accounting firm services TALTIO eReceipt Companies
TALTIO program working model The TALTIO program is an ecosystem in which the participating parties implement the projects goals in work packages The TALTIO program is coordinated by the Association of Finnish Accounting Firms Overall program plan and goals of the work packages Coordinating practical work in the program Supporting the work of the work groups Possible to join in on the program As a self-development program or together with some other party By contributing to the achievement of the programs goals A cooperation agreement about participating in the program and covering part of its coordination costs Possibility to receive financing from Tekes A parallel program (TALTIO), in which each applicant files an application and reports to Tekes
Participants of the TALTIO program: Dextili Oy Digital Living International Oy Dun & Bradstreet Envoice Oy eTasku Solutions Oy Euroclear Finland Oy Flashnode Oy Fujitsu Finland Oy Gylling Accounting Oy Kunnan Taitoa Oy Nordea Bank Finland Abp OP-Pohjola Suomen Asiakastieto Oy Suomen Tilaajavastuu Oy Talokeskus Yhti旦t Oy Taloushallintoliitto ry Tieke ry Tieto Finland Oy Tietotili Consulting Oy Tilikeskus-Yhti旦t Oy Tilitoimisto EMU Oy
Participants of the TALTIO program: Association of Finnish Accounting Firms Bisnode Finland Oy Dextili Oy Digital Living International Oy Envoice Oy eTasku Solutions Oy Flashnode Oy Finnish Central Securities Depository Ltd Finnish Contractors Liability Ltd. Fujitsu Finland Oy Kunnan Taitoa Oy Nordea Bank Finland Abp OP-Palveluyhti旦 Oy Suomen Asiakastieto Oy Suomen Tilintarkastajat ry Talokeskus Yhti旦t Oy Tieke ry Tieto Finland Oy Tietotili Consulting Oy Tilikeskus-Yhti旦t Oy Tilitoimisto EMU Oy
18 Future events 2 February 2017 at 9 a.m. 12 noon TALTIO open pre-noon seminar Ministry of Transport and Communications, Soncks hall Etel辰esplanadi 16 To register before the event, please contact juho.pitkaniemi@taloushallintoliitto.fi
Markku rn TALTIO Program Director +358 50 55 67 032 markku.orn@taloushallintoliitto.fi
THANK YOU!

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TALTIO program promotes the use of structured data

  • 1. ASSOCIATION OF FINNISH ACCOUNTING FIRMS PROMOTES THE USE OF STRUCTURED DATA Vuokko M辰kinen Association of Finnish Accounting Firms, Chairwoman of the Board
  • 2. Future of the accounting field Digitalisation and automation will reduce routine work The change is welcome, manual work in entering data is unnecessary and error-prone BUT what kind of digitalisation and automation do we want? We will need accounting experts also in the future We need real-time, comprehensive information in order to produce useful information to our customers The accounting sector can influence the future of the field by promoting the development of digital tools and services
  • 3. Key challenges of financial management in SMEs - among the accounting sectors customers Information needed to manage companies day-to-day operations is not available (financial management information is narrow and based on statutory accounting) Accounting information is generated with a delay; usually 1.5 months old (e.g. VAT reporting) Generating financial management information is time-consuming and still requires a lot of manual work Most of the software used in the field are outdated and clumsy Obtaining the figures and forecasts needed for SME financing involves time- consuming manual work, which costs a lot to financiers and investors 3 The services produced must meet the needs of our customers.
  • 4. Customers needs can be addressed with the help of structured data With structured data, we can decrease the amount of data entry work and the subsequent human errors Structured data are transferred from one system to another in a format that can immediately be utilised without manual work Structured data can be analysed by making use of the entire data content Structured data allows the development of entirely new services and quick reaction to situation-specific customer needs.
  • 6. 6 Minister Berner gave a speech at the Account and Tax event arranged by the Association of Finnish Accounting Firms on 18 January 2016 The TALTIO program is part of a spearhead project managed by Anne Berner, Minister of Transport and Communications, which aims at building a growth environment for digital business. The goal of the package of measures, which focuses on the utilisation of large information materials and MyData, is to create internationally the best preconditions in Finland for business based on data use and for the growth of the field. Source: News from the Ministry of Transport and Communications 18 January 2016 http://www.lvm.fi/-/digitalisaatiohankkeessa-kehitetaan- alykkaampaa-liiketoimintaa
  • 7. Foundations, goals and schedule of the TALTIO program Foundations The cost-efficiency of the financial management of one million companies and corporations translates into major savings for both companies and the national economy Allows a digital productivity leap in the SME sector (automation, risk management, etc.) A view to real-time information allows better decision-making Manual data entry is eliminated, financial experts help companies Easier to receive financing, thanks to more up-to-date financial information, and credit losses decrease Goals To create a consistent form for structured financial data so that it may be used in different systems To build an ecosystem model and to demonstrate the digitalised financial management of SMEs and corporations as a data storage solution complying with TALTIO To implement integrations between financial management systems and programs complying with the TALTIO data record description To create opportunities for accounting firms for new business in the utilisation of structured data To support housing sector digitalisation in the housing trade and its financing To also use the resulting TALTIO solution for the management of the finance of private persons Schedule: The schedule of the TALTIO program is March 2016 - October 2017
  • 8. TALTIO program The TALTIO program creates a standard model for structured data, defining in which format invoice, receipt and account statement information, for example, can be entered into financial management systems without manual data entry In the TALTIO program, integrations, data storages and reporting apps are implemented in different work packages according to the TALTIO model The TALTIO program promotes the digitalisation of small companies, associations and companies operating in the housing sector The TALTIO program creates opportunities for managing the finance of private persons The TALTIO program develops the services of accounting firms to address future needs
  • 9. Structured data development targets 1/2 Account statements The banks own fees as receipt-based information (service fees, loan withdrawals/instalments) eInvoice Minimum data content broadly into use Easy adoption of eInvoices and better reliability of services eInvoice addresses, location, simplifying addresses (Tiekes eInvoice address service will end in 2017) The UBL format used by European public procurements is taken into consideration in the TALTIO project (Peppol) eReceipt Completing and piloting the modelling of structured receipts in card and cash payments
  • 10. Structured data development targets 2/2 TALTIO integration interface Data transfer between systems and programs according to the TALTIO standard Electronic archiving of accounting material in a consistent manner based on the TALTIO standard Ecosystem based on the TALTIO data storage A small business financial management package for micro-companies, associations, housing corporations and agricultural entrepreneurs The TALTIO database and the query and reporting apps utilising it Electronic financial statement Promoting the adoption of specified electronic financial statements Reporting code and electronic financial statements for housing corporations and housing companies, associations and foundations
  • 12. Pirkka Frosti Fredrik Jansson Jani Karhunen Pirjo Ilola Elina Koskentalo Vuokko M辰kinen TALTIO Steering group TALTIO Standard TALTIO Integration TALTIO Data storage Persons responsible for TALTIO programs work packages TALTIO eReceipt Sirpa Airola TALTIO Account- ing firm services
  • 13. Program outputs 1. TALTIO standard Allocating structured data to TALTIO data record description eInvoice (incl. UBL) Account statement eReceipt Allows the processing of different files in a consistent manner in the data storage, data transfer and data archiving without changing the structure of the original file. Reporting code and electronic financial statements for housing corporations and companies operating in the housing industry, associations and foundations. 10
  • 14. Program outputs 2. TALTIO eReceipt Adoption of the modelled eReceipt taxonomy in trades cash register systems in order to produce structured receipt data Forwarding structured receipt data to the payers desired e-address for direct utilisation in the companys financial management or as private persons myData
  • 15. Program outputs 3. TALTIO Integration Between existing and new financial management systems and software Transfer of data from the fixed assets register, stock control and payroll accounting to accounting or other software using a consistent data transfer standard Electronic structured archiving Required data from vouchers and invoices to the electronic archive as structured transactions complying with TALTIO, also allowing voucher visualisation without separate image appendices
  • 16. Program outputs 4. TALTIO data storage pilot TALTIO data storage defined (data model specification) TALTIO saving and delivery layer TALTIO transactions, eInvoices, payments and account statements Interface specification, user right management specifications Specification of the application developers platform, developer advice and guidance TALTIO apps Apps for accounting firms and entrepreneurs for utilising data (e.g. accounting, VAT reporting, analysis, statistics)
  • 17. Program outputs 5. Service development for accounting firms Promoting the use of structured data and improving the efficiency of work More efficient tools in collaboration with software companies New innovative service products based on customers needs Accounting firms adopt a more prominent role from recording realized information into a comprehensive service provider that refines financial data for use in the customers business and to support decision-making
  • 18. Program outputs 6. Seminars and workshops Promoting the use of structured data in Finland Promoting the adoption of the operating models and outputs generated in the project Informing financial management stakeholders International cooperation export opportunities in the future Estonia Nordic NAF partners (Sweden and Norway) EU
  • 19. Commerce TALTIO project and stakeholders Message formats Financing Housing corporations Book entry system eInvoice functionality TALTIO Steering group TALTIO Standard TALTIO Integration TALTIO Data storage TALTIO Accounting firm services TALTIO eReceipt Companies
  • 20. TALTIO program working model The TALTIO program is an ecosystem in which the participating parties implement the projects goals in work packages The TALTIO program is coordinated by the Association of Finnish Accounting Firms Overall program plan and goals of the work packages Coordinating practical work in the program Supporting the work of the work groups Possible to join in on the program As a self-development program or together with some other party By contributing to the achievement of the programs goals A cooperation agreement about participating in the program and covering part of its coordination costs Possibility to receive financing from Tekes A parallel program (TALTIO), in which each applicant files an application and reports to Tekes
  • 21. Participants of the TALTIO program: Dextili Oy Digital Living International Oy Dun & Bradstreet Envoice Oy eTasku Solutions Oy Euroclear Finland Oy Flashnode Oy Fujitsu Finland Oy Gylling Accounting Oy Kunnan Taitoa Oy Nordea Bank Finland Abp OP-Pohjola Suomen Asiakastieto Oy Suomen Tilaajavastuu Oy Talokeskus Yhti旦t Oy Taloushallintoliitto ry Tieke ry Tieto Finland Oy Tietotili Consulting Oy Tilikeskus-Yhti旦t Oy Tilitoimisto EMU Oy
  • 22. Participants of the TALTIO program: Association of Finnish Accounting Firms Bisnode Finland Oy Dextili Oy Digital Living International Oy Envoice Oy eTasku Solutions Oy Flashnode Oy Finnish Central Securities Depository Ltd Finnish Contractors Liability Ltd. Fujitsu Finland Oy Kunnan Taitoa Oy Nordea Bank Finland Abp OP-Palveluyhti旦 Oy Suomen Asiakastieto Oy Suomen Tilintarkastajat ry Talokeskus Yhti旦t Oy Tieke ry Tieto Finland Oy Tietotili Consulting Oy Tilikeskus-Yhti旦t Oy Tilitoimisto EMU Oy
  • 23. 18 Future events 2 February 2017 at 9 a.m. 12 noon TALTIO open pre-noon seminar Ministry of Transport and Communications, Soncks hall Etel辰esplanadi 16 To register before the event, please contact juho.pitkaniemi@taloushallintoliitto.fi
  • 24. Markku rn TALTIO Program Director +358 50 55 67 032 markku.orn@taloushallintoliitto.fi

Editor's Notes

  • #5: Format change from printed to digital the first step Utilising structured data System integration step 2 Real-time information note: Cf. Correct timing