An Approach to Legacy System Analysis

Understanding tabulating system principles can be very powerful in analyzing legacy systems, even though card readers have not been used extensively for perhaps 40 years or more. In this post I’ll describe an approach I would take to replace a large bank’s customer deposit system. You can watch the video here. Daily Financial Cycle First, let’s be clear about what the daily financial cycle looks … Continue reading An Approach to Legacy System Analysis

Financial System Migration Approach: A Conversation with Rakesh Kant

This is the fifth segment of a Conversation with Rakesh Kant, an expert on financial and reporting systems, in Lucknow, India, April 15, 2018, discussing how to overcome the cost of migration to these new systems, and how that is likely to occur. As one thinks about transformation of our financial system landscape, it is not a green field of virgin land upon which one … Continue reading Financial System Migration Approach: A Conversation with Rakesh Kant

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

Data Discovery: Show me the money

This week’s discussion outlines a very effective form of data discovery, but one which I find is not usually employed. It uses financial knowledge to understand the relationship of transactions to balances. This relationship would have been clearly understood by professionals 50 years ago, but has slowly been diminished as we have had more and more computing capacity, which has allowed us to do things … Continue reading Data Discovery: Show me the money

Management Reporting and Customer Profitability, and Data Supply Chains

This week’s episode describes the intersection of Management Reporting or KPI data and Finance, focusing on the enablement of Customer Profitability that would come through a consolidated data supply chain. Episode 35 of Conversations with Kip, the best financial system vlog there is. Continue reading Management Reporting and Customer Profitability, and Data Supply Chains