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 the last couple of decades, new opportunities in computing, with the explosion of the Internet, then mobile and social, and now AI and the Cloud, have attracted the majority of information technology’s attention.  Very few have thought to challenge how core ledgers were automated or look for opportunities for innovation in core financial system ledgers.

That will change of course.  The longer we go on the legacy systems, the greater will be the change when it finally comes.  Those who are interested before that time comes will be well position to help make a substantial difference when it does.

This is Episode 166 of Conversations with Kip, the best financial system vlog there is. Literally learn more–about ledgers and financial systems–at LedgerLearning.com.