The government of Iceland has switched to eInvoicing, as of 1 January. Iceland hopes that this move will help save some ISK 500 million (about EUR 330.000) per year.

“This is an important step in the development of electronic commerce in Iceland”, the government’s central IT organisation, Upplýsingatækni (Information Technology), said, adding that this move would undoubtedly encourage companies to do the same.

UT refers to a statement by the Ministry of Finance, that explains how the use of electronic invoices, including digital management of payments and storing of receipts, will make payments faster and lower costs associated with paper. Pilots involving Iceland’s hospitals showed savings in costs, reduced workloads and lowered interest payments.

Technical requirements for eInvoices are published by the State Accounting Office (Fjársýsla ríkisins).

eProcurement

Electronic invoicing was one of the recommendations made by Iceland’s Government Efficiency Group, which was asked in 2013 to come up with ways to reduce costs and speed-up tendering processes for all of Iceland’s public administrations. Next to eInvoicing, the committee also advised the adoption of electronic procurement.

The Government Efficiency Group’s report was made available on the website of the Office of the Prime Minister in late 2013.

More information:

Iceland’s government IT resource website (in Icelandic)
State Accounting Office website on eInvoicing (in Icelandic)
Recommendations by the Government Efficiency Group
eCommerce website by Iceland’s Ministry for Industry and Commerce (in Icelandic)