The next Blockchain Revolution
Blockchain is considered to be the biggest technological innovation of the 21st century. Without blockchain, the bitcoin system would not work. The decentralization of IT in general and blockchain in specific yield various advantages. Those are for instance the protection of large amounts of data through encryption and access management as well as the opportunity to collect and analyze data on a cross-company level.
The Intrachain software makes use of exactly this advantage.
Intrachain prevents inefficiency
Intrachain is the first process mining software with an integrated blockchain for intra-group cost allocation and transactions. We developed the Intrachain software because we believe that big corporations with several subsidiaries often work inefficiently when it comes to cost allocation and transactions of services. This inefficiency mainly emerges because of the fact that the book keeping of intra-group services is, up until now, driven by manual processing which makes it prone to human mistakes.
Our process mining software solves this problem by measuring and processing these services. In the first step of this process, the effort every service incident requires gets tracked by our engine and is then allocated to the right subsidiary company, receiving the service. Finally, smart contracts in the Intrachain blockchain immediately process all required transactions at the same time.
In doing so, our software solution solves several problems that especially occur in large corporations. These problems include, for example, the lack of data quality and accounting errors between subsidiaries. With our software which automatically tracks the efforts of tasks and then allocates the costs of these tasks to the right service recipient, intra-group cost allocation is no longer at the mercy of human processors. Furthermore, software exchange rate differences will from now on be avoided because our smart contracts ensure the use of the right exchange rates at the right date and time. Finally, Intrachain solves the issue of accounting period differences through the immediate processing of our smart contracts.
Intrachain applied to real life situations
To make this process more tangible, please consider the graphic to the left.
Imagine the following situation: The corporate IT support of the Headquarter helps an employee of Subsidiary A in solving a problem.
Our process mining engine will track the efforts needed for this service. Imagine solving the problem took 37 minutes and involved three employees from several levels of IT support. After the tracking, the Intrachain smart contract then immediately calculates the invoice, charges Subsidiary A and sends the invoice data to the accounting software of both the Headquarter and Subsidiary A.
What this all amounts to is that, by using our Intrachain process mining software, the data quality and accounting process of big corporations improves drastically, which reduces costs immediately.
Become a member of our community
We have invested significant time and money piloting our Intrachain approach and technology and are very happy about your interest. We will keep you posted on exciting news on a regular basis. In the meantime, feel free to join our community on:
