Letter of the CEO: The Revolution of the Accounting World with Blockchain
Hi Intrachain Community,
I wanted to thank you for your support. We have received a lot of positive feedback on our Intrachain process mining software with integrated blockchain.
Today, I want to tell you a little bit about myself, my motivation, and vision. As you know from our “Behind the scenes” blog post, I hold a Diploma in Business Administration and have a background in IT advising at KPMG, as well as in Process Optimization and Project Management at Siemens. While working for the aforementioned corporations, my very close friends founded Start-Ups and I realized that the structure and politics of big corporations bore me and that I was ready for a new challenge. My life as an employee was not enough anymore and I strived for more.
When my good friend Niclas Preisner (and now CMO at Intrachain) coincidentally discussed his intriguing business idea with me just in this particular phase of revulsion, I knew it was time to found a business. Niclas’ business idea evolved out of him always having to track his working time and the resulting pain and time exposure. We were sure that this process could be easily automated, so we developed a process mining software for this purpose. Short after, we noticed that in big corporations there is not only inefficiency when it comes to effort tracking, but also when it comes to accounting in general, specifically intragroup cost allocation and transactions. Based on this finding, we did an extensive anaylsis of the market in which we brainstormed with advisors and also approached companies with many subsidaries. In these steps we found that big corporations all around the world immensely struggle with problems that evolved from manual reconciliation, namely inefficiency, human error, as well as inaccurate data. Based on this feedback and the fact that we always had taps on blockchain, we figured that we could easily develop our process mining software in such a way that it is compatible with blockchain to solve this pain that worldwide every company faces. This is how we decided to found Intrachain.
My vision is to make reconciliation work obsolete with the help of blockchain. The manual adjustment process of faulty accounting transactions is costly in terms of time and money, unnecessary, as well as simply unsatisfying. My long-term goal is to penetrate the accounting market with our product to such an extent that all accounting is handled on blockchain. The more accounting is managed on blockchain, the better data companies have. This is due to the fact that the blockchain makes the data forgery-proof. Forgery-proof data leads to an incomparable improvement of time exposure because no more single bookings would need to be double-checked by auditors. In summary, I strongly believe that Intrachain will make auditing both more efficient and easier.
I am very excited to be part of the revolution of the accounting world, and I am extremely happy about your interest and support.
If you want to learn more about our software, you are more than welcome to chat with me and my co-founders on Telegram. Also, sign up for our weekly newsletter to always stay up-to-date.
Best
Arne Reimann
