Hardest Part of the Problem: Conversation with Rakesh Kant

Fourth segment of a Conversation with Rakesh Kant, an expert on financial and reporting systems, in Lucknow, India, April 15, 2018. Here Rakesh responds to the question what is the hardest part of solving the transformation of financial systems problems. The answer is the changes to existing processes and cost of implementation. Our financial systems are incredibly efficient.  Cost per transaction can be a faction … Continue reading Hardest Part of the Problem: Conversation with Rakesh Kant

Human Scale of Reporting: A Conversation with Rakesh Kant

In the third segment of a Conversation with Rakesh Kant, an expert on financial and reporting systems, in Lucknow, India, April 15, 2018, we discuss that reporting requires that large amounts of data have to be reduced to something understandable to a human. As I have noted elsewhere, every answer to a reporting problem must fit in a spreadsheet–in fact in a small portion of … Continue reading Human Scale of Reporting: A Conversation with Rakesh Kant

DNA to Solve the Problem: A Conversation with Rakesh Kant

This is the 2nd segment of a Conversation with Rakesh Kant, an expert on financial and reporting systems, in Lucknow, India, April 15, 2018. This segment highlights the the most important attribute needed to work on this problem: One must be interested in it, and it isn’t solved quickly or easily. This is Episode 168 of Conversations with Kip, the best financial system vlog there … Continue reading DNA to Solve the Problem: A Conversation with Rakesh Kant

A Conversation with Rakesh Kant: Right Hand Side, Left Hand Side

This week I begin a series of segments of a Conversation with Rakesh Kant, an expert on financial and reporting systems, recorded in Lucknow, India, April 15, 2018. This initial video frames the discussion of financial systems by breaking the problem into a Left Hand Side (i.e., Posting) from the Right Hand Side (i.e., Reporting) problem. The technology functions in both of these parts of … Continue reading A Conversation with Rakesh Kant: Right Hand Side, Left Hand Side

Required Skill: Desire to Work on the Problem

This week I discuss the most important skill needed to work on reinvention of ledger based processes: Desire to do so. Financial Systems were some of the very first to be automated; they are rule based, processed performed by skilled labor, with demanding accuracy and timelines.  Because they were automated so early, a great deal of the knowledge about the systems has been lost. In … Continue reading Required Skill: Desire to Work on the Problem