Real-Time Economy is an environment where all the transactions between business parties are in digital format, increasingly automatically generated, and completed in real-time both from business and IT-processing perspectives. For enterprises, public sector, and citizens this means, for example, that orders, order confirmations, invoices, and payments flow from system to system without delays. This makes it possible to move towards electronic archiving, electronic book-keeping, and automated accounting. The benefits for society at large are enormous – both in terms of productivity and environment. RTE is a joint development project between Aalto University School of Business and industrial partners.
Real-Time Economy Competence Center operates at Aalto University School of Business.