Business environment and strategy
OpusCapita’s business environment is influenced particularly by the automation of knowledge work and the related use of robotics, e-invoicing, and payment period management.
The use of robotics is becoming more commonplace, and the future will also bring robots that are capable of learning and independent deduction. We are the first Finnish company to roll out software robotics in production operations. Our software robots work every day to support our customers’ financial management and payroll administration by analyzing large quantities of data to identify changes in wages and salaries and verifying the accuracy of changes recorded with regard to employment relationships.
The proportion of e-invoicing in the invoice traffic of businesses and organizations is growing continuously. More than 40% of all B2B invoices and invoices between businesses and the public sector are now electronic in the Nordic countries. The regulations contained in new EU directives scheduled to enter into force at the end of 2018 include a requirement for public organizations to have the capacity to accept e-invoices related to public procurement. This requirement will impact more than 100,000 public administration offices and institutions in Europe. We are a pioneer in e-invoicing in Europe.
On March 3, 2015, the Finnish Parliament approved a legislative amendment stating that the payment period of invoices between businesses must not exceed 30 days. This legislative amendment and the new financing systems that are about to be introduced to the market present good opportunities for supporting the competitiveness and operating capacity of Finnish SMEs. According to our survey, 75% of Finnish companies see changes to payment periods as being significant with respect to their financial situation. We have complemented our service portfolio by launching a supply chain financing solution that allows companies to offer affordable financing to their suppliers using standardized processes.
In OpusCapita, we started to work on defining our new strategy in late 2015. Our goal is to create international growth through scalable buyer-supplier ecosystem solutions while ensuring stable and profitable business operations in our traditional business areas in the Nordic countries. We will continue to shape our new strategy in the first half of 2016.