“The focus is on results and execution. We have completed a number of pan-Nordic pilots to verify a smoother and more efficient trading and accounting process for two million Nordic SMEs. NSG&B is a good example of how collaboration and innovation can create Nordic added value and better position Nordic companies in a globally competitive environment,” says Jakob Solmunde, Programme Manager for NSG&B.
Breaking down Nordic barriers
Nordic Smart Government is a joint Nordic project designed to enable companies to share accounting and financial data with other companies, authorities and stakeholders in a smarter, safer and faster way, both within Norway and across the Nordics. This will significantly streamline companies’ statutory reporting processes and improve access to data.
The project is a key component of Vision 2030, which aims to make the Nordics the world’s most sustainable and integrated region.
“With Nordic Smart Government and Business we are leveraging the opportunities offered by digitalisation to break down international Nordic barriers and to provide a strong platform for increased value creation,” says Sherry Warsi, Implementation Coordinator for the programme, before continuing:
“Breaking down the barriers will benefit the whole spectrum of businesses in the region. Nevertheless, small- and medium-sized enterprises (SMEs), the most important players in the programme, could be the real winners from what we are doing.”
Huge societal benefits
More than 90 per cent of Nordic businesses are small and medium-sized enterprises (SMEs). These form the bedrock of our communities and of our future welfare. The vision of Nordic Smart Government & Business is to create value for these companies, in particular by making real-time data available so that they can generate innovation and growth.
According to a report from Ernst & Young, Nordic Smart Government could trigger potential gains of around NOK 250 billion per year for Nordic SMEs, once the vision has been realised. Facilitating data-sharing at Nordic level will play a key role in realising the ambition of achieving further Nordic integration.
“The Nordic region enjoys a major advantage in the form of the mutual trust that exists between the countries. This, and bringing experts together, will enable us to develop secure data that can be accessed across national boundaries,” says Solmunde, before concluding:
“Facilitating data-sharing will not only generate major savings for the Nordic countries and support innovation and growth. It will also make our Nordic entrepreneurs more agile and efficient, and instead of administration and reporting to the authorities, enable them to focus on what they love and do best – building business relationships and developing their businesses.”