TARU stands for Taloushallinon Runkoverkko (financial interoperability backbone), and is a research and development program focusing on digitalization and automation of financial administration. TARU is a result of cooperation between Administer, Kunnan Taitoa, Tieto, Tikon, Aalto University and network of partners. TARU is a two-year project (2014-2015) sponsored by the owner companies and the Finnish funding agency for innovation Tekes.
The goals of TARU project are:
- Full automation of commercial and administrative information flows throughout networks
- Real-time – start and end in the same instance (also for IT-processing part).
- Standardization of message content, interfaces and data – increasingly global (ISO20022 central).
- Administrative reporting obligations are collected from corporate financial systems as automatic byproducts.
- Strong drivers towards harmonised EU Single Market (can become real only through digitalization).
Detailed information on the project is available at TARU website.