Pacio delivers a Semantic blockchain with a focus on management data. A key component is the target average rate index (TARI). Here is a brief overview of the method to improve the bottom line of companies.
By Keith N. Cleland
“I can see that I am really in the business of selling time, and product happens to be the output,” exclaimed one proprietor following a pricing review of his product range. He was right. The review showed that although he paid for 20,000 hours of potential activity, only 10,000 hours could be traced to output. Quite clearly, the leakage was seriously impacting the bottom line.
Following several years of applied research across the spectrum of industry and commerce, I found that despite the latest available accounting-oriented software technology, very few businesses were positioned to seamlessly compare output with input.
In conjunction with computer guru Trevor Watters, a software tool was developed known as TARI (target average rate index), making it possible for businesses to target and track input vs. output at any point in time, with results that speak for themselves. Businesses experiencing difficulties and winning only 1 in 16 quotes find they are now winning 1 in 4 quotes.
Businesses putting 25% on their jobs to cover profit seldom ending with more than 5%, find they are achieving profits they could never have imagined. Not just manufacturing and service sectors, distributors and retailers also share in a new way of looking at their businesses seeing change for the better in a matter of weeks.
Until now, TARI has been a great stand-alone tool for corporations. The advance of blockchain will bring TARI to the next level: TARI-based accounting will be immutable, incorruptible and immediately audit-ready. This is especially important for entities with increased accountability needs such as non-profit organizations.
As professor and head of financial management at the IBR School of Executive Management, Steinbeis University Berlin, it has been possible to ensure TARI is a key subject requiring on-the job- application within the IBR Global MBA program, with direct benefit for student and business alike.
In conjunction with Pacio’s Semantic blockchain (SSIM), we aim to achieve a global connection of entities and for the first time be positioned to follow money over the complete value chain. Pacioli’s invention of double-entry accounting in the 14th century can only go so far. Pacio with SSIM and TARI will be the foundation of a globalized, interlinked and seamless data exchange. This will decrease fraud, friction, and loss of valuable information. It is about time.
Pacio is creating a decentralised semantic data application platform and will produce the first Semantic Business Web on blockchain.
Also published on Medium.