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When running sales operations, revenue shortfall happens one transaction or period at a time, project lateness happens one deliverable or milestone at a time and cost overrun happens one cost item or purchase at a time. Serious deviations happen not only because humans hide information but human brains together with electronic plan documents can’t keep up with the reality. 8Manage has the multi-layer real-time aggregation and disintegration functions and can provide you with the fine grain visibility and control and allow you to manage any deviation at the earliest possible time.
In today’s online and/or offline business, openness mgt requires not only open solicitation but also digital rules, controllable syndication, unalterable and incorruptible traceability and real-time detection of deviations and strategy mgt requires not only strategic planning, but also strategy execution and real-time cause-and-effect mgt. 8Manage, based on the Blockchain Enterprise Mgt model, can also provide the openness and strategy mgt needed for your business.
The core competence for implementing business syndicates includes the use of blockchain technology, digital syndication rules and multi-layer real-time aggregation and disintegration functions. Legacy applications such as those not representing a business object in a multi-layer structure but as a monomorphic digital document are inappropriate to be re-used for implementation business syndicates.
8Manage can assemble a set of business elements to an order, project, contract or business portfolio and disassemble a business portfolio, contract, project or order into a set of business elements in real-time. In other words, 8Manage makes use of the symmetry aspect of (digitalized) business rules and the speed of computers to provide the multi-level cause-and-effect views of the business portfolio, contract, project and order execution in real time.
Being able to detect the initial deviations at the earliest possible time or view the performance from the lowest level to the highest level activities in real- time can possibly decide a business portfolio’s success or failure.
In sales operations or enterprise management, things would become more complicated when people are able to manipulate management information to influence the perception of others. People are able to do that because enterprise data is often piecemeal with insufficient details, and have multiple copies of the truth and latency. The 8Manage Blockchain Enterprise Mgt model and the Blockchain database totally remove the following barriers that were difficult to remove with older technology:
8Manage supports the following two most powerful mechanisms to keep people honest:
Smart orders and contracts can significantly change the economy and can take over most routine business processes that take time and resources. The core competence for implementing smart orders and contracts includes the use of blockchain technology, digital rules for transactions and automated settlement applications. Legacy applications such as those requiring manual currency conversion and manual settlement calculation are inappropriate to be re-used in smart orders and contracts.
8Manage currently provides smart orders and contracts for the following areas:
8Manage smart orders are more suitable for standardized products and services and 8Manage smart contracts are more suitable for non-standardized products and services transactions.
Smart orders and contracts are for sales and procurement dealings. However, there are business processes related to solicitations such as marketing campaigns, new supplier solicitation, purchase requisition, tendering and human capital recruitment that are considered a separate process from the sales and procurement process. 8Manage therefore provides smart solicitations for dealing with these separate processes.
Similar to smart orders and contracts, smart solicitations can also significantly change the economy and can take over most routine business processes that take time and resources. The core competence for implementing smart requests and solicitations includes the use of blockchain technology, digital rules for solicitations and automated arrangement and settlement applications. Legacy applications such as those requiring manual arrangements are inappropriate to be re-used in smart requests and solicitations.
8Manage currently supports the following different types of smart solicitations:
8Manage combines the power of general applicability and strong discipline of business project management together with the powerful digital rules, miner connectivity and most importantly the reliable data of blockchain.
The common problem in business project management is if someone changes the Percentage of Complete of a project to 100%, all its many activities and sub-activities will be instantaneously 100% complete and can’t trace back to their previous states. Therefore, a PMP student would learn in class that a project can make artificial progress such as 50% >>> 60% >>> 70% >>> 80% >>> 90% complete and then suddenly come back to 50% complete even with no major requirements change. This isn’t a simple version management problem, but serious mgt information fault promoting dishonest behaviors in human beings. 8Manage was designed to solve the above problem. Its Work Breakdown Structure (WBS) can track every single project activity or deliverable associated with the audit trail (blockchain). It also displays a single view of accurate plan & execution information to everyone in real-time to totally eliminate the misperception caused by multiple versions of the truth.
From a data reliability standpoint, using 8Manage for project activities is very similar to using a CDM/ATM which has the current status or balance and incorruptible past interaction and transaction records.
What are the difference between financial accounting and management accounting?
8Manage provides both financial accounting for external reporting and management accounting for performance management and decision support. In 8Manage, all business and operations items such as campaign, sales order, portfolio, project, human resource, procurement, asset and liability items are automatically connected to its real-time management accounting facility.
How does 8Manage achieve real-time management accounting across multiple organizations and countries?
Even low-end PCs today have sufficient computing power to generate Income Statement, Balance Sheet, Account Receivable, Account Payable and Cash Flow reports for an enterprise in real-time. The only reason that an enterprise can’t generate up-to-date reports every day, week or even month is because it lacks financial connectivity in its business and operational processes. The manual interaction model that people (including accountants) are accustomed to prohibits the financial connectivity even the modern computer hardware and software are geared to provide the level of connectivity needed for agile financial information.
Using the 8Manage has financial connectivity built-in every business modules and an executive is allowed to view any of the financial reports mentioned above of any unit/company/group in real-time.
The system will automatically aggregate from lowest units/ companies / groups to the highest level units/companies/groups in real-time and automatically eliminate intercompany transactions at the same time. Besides fast generation of financial information, the system also allows real-time drill down of information.
Can 8Manage provide the same real-time management accounting for portfolios and projects?
8Manage not only can provide the same multi-level real-time management accounting for portfolios and projects, but also can aggregate the multi-level management accounting information from projects to portfolios and to organizations or allocate from organizations to portfolios and to projects based on user-defined rules.
Since most enterprises have multiple systems for different types (e.g., trade, non-trade, material, service) of procurement s and expense reports and the data need to go through the following manual efforts to be ready for spend analysis.
What can 8Manage do for spend intelligence in real-time?
8Manage, with its One Design One System design, can automatically aggregate spend data according to Organization, Spend Type & Product and/or Supplier in real-time. It can help the organization generate answers to the following questions affecting its spending, including:
The spend visibility provided by 8Manage Spend Intelligence helps the user gain insights into what their organization buys and from whom, and it helps them realize savings promised by past sourcing efforts.
In 8Manage, an enterprise's performance can be viewed from the topmost level to its lowest level in real-time. For each organization, the user can view what its subsidiaries contribute to its results and the user can click each revenue, cost, asset and liability number and view what (e.g., sales, products, projects) attribute to the number in real-time.
Enterprise’s portfolio and project performance can also be viewed from the topmost portfolio to the lowest level of activities in real-time. For each portfolio, the user can view what its sub-portfolios or projects contribute to its performance (revenue, profit, asset and schedule) in real-time.