Estonia, Financial Services, Internet, Technology

“E-bills environment makes the work of accountants more effective, freeing them of entering bills manually into the economic calculation information system,” finance minister Jürgen Ligi said on Wednesday. Also the solution gives heads of state institutions better review of movement and status of bills.

Estonian state institutions receive annually nearly 520,000 purchase bills and e-billing environment enables nearly 30 times cost-cutting. Handling one e-bill will cost an estimated 40 euro cents, a paper bill costs the state nearly 13 euros.

The first ones to join the e-bills solution are finance ministry and justice ministry governance sphere institutions from March 1.

As the result of the project of centralising the state’s accounting that started a year ago, the number of accounting units has decreased from 202 to 125. E-bills are the second stage of that direction. Nearly 130 accountants work on purchase bills in state institutions.