TALTIO – Finland’s broadest and most influential digitalization program Vuokko Mäkinen, Hawcon Oy Chairman, Association of Finnish Accounting Firms

TALTIO GOALS To eliminate the use of paper and PDFs in financial information To create a standard for structured financial data to enable the use of detailed data extensively in different systems 2

TALTIO ACTIONS Create a standard for structured financial data Use the standard in exchanging financial data between applications and systems Define eReceipt – infrastructure for structured receipt data Improve the possibilities in using the eInvoice Create data storages for standard and structured financial information Enable accounting firms to develop new services and possibilities to support their customers TALTIO standard – XBRL GL 3

Structured data = buyer’s benefit TIME € Seller Data entering Scan Robotics Outsourcing Buyer Paper PDF Sales invoice/receipt Purchase € eInvoice eReceipt Sales invoice/receipt Purchase eInvoice row details eReceipt row details

TALTIO impacts TALTIO is the most extensive digitalization program in Finland: Concerns all the companies and all the consumers. 1.4 billion card payments/year in Finland (2015) (paper receipts) 0.28 billion eInvoices/year in Finland (with a huge growing potential) TALTIO’s key objective is to enhance the use of structured data 6

TALTIO benefits Companies will save 800 M euros by structured eReceipts in Finland The purchase information on invoices and receipts can be used more efficiently by row details Creates opportunities for better financial management for companies and consumers. TALTIO based information is real-time. 7

From cost savings to new innovations 2016 - 202x More personalized services Platform economy innovations New innovations Real-time interaction with officials and public officers Combining the information of several data banks Better information use 2016 2017 2018 202x Cost savings Eliminating manual work Point-to-Poin Integrations less needed Automatized mandatory reporting Solutions based on standards lower costs

TALTIO vision Companies’ finance is in better state Finland is the leading country in financial administration services 9

Thank you vuokko.makinen@hawcon.fi