Nordic Smart Government and Business

Nordic Smart Government and Business (NSG&B) is a project run by the Nordic trade registers to enhance the automation and use of financial data between businesses and from businesses to the authorities.

In addition to the trade register offices, several other authorities, businesses and organisations are taking part in the project. The participants from Finland include the Finnish Patent and Registration Office (PRH), the Finnish Tax Administration, the State Treasury, and Statistics Finland.

Phase 4.0 of the project will run from 2021 to 2024.

The project is financed by Nordic Innovation, a company operating in close cooperation with the Nordic Council of Ministers.

Objectives of the project

The vision is to create a shared real-time economy in the Nordic countries. A digital economy, or digitalising financial administration, could lighten the administrative burden of small and medium-sized enterprises (SMEs).

The digital economy will make life simpler for SMEs and save money. Based on an estimate of the project, two million SMEs in the Nordic countries will save 500 million euros by 2025, if they use electronic business data and financial administration services.

In order to implement the digital economy, financial data, receipts, invoices and financial statements must be in electronic format. This will allow data to be transmitted automatically.

Phase 3.0 of the project examined how financial data could flow from one system to another in identical and machine-readable form and in real time.

More information about the project

A video of the NSG&B project describes the digital economy from the SMEs perspective.

On 1 September 2020, the Nordic Ministers of Economic Affairs approved a roadmap for the NSG project to implement a real-time economy in the Nordic countries. Read more about the roadmap in our announcement.

The closing meeting for phase 3.0 was arranged in Finland as an online event on 1 December 2020. Watch the recording of the event on the PRH’s YouTube channel (in Finnish).

Go to the website to read more in English.

Minna Rintala
Tel. +358 29 509 5244

Printable version
Latest update 25.04.2022