Know It Now Management™

Basic Tenets

Entering of Transactions – The person closest to the transaction should be the one to tell the system it occurred and the ERP software should be informed immediately. To make this realistic, the entry of the transaction has to be easy (no previous knowledge of accounting software required in most cases), quick, and it must be possible wherever the transaction occurs. This requires creativity and forethought. The "entering" of the transaction can be punching a button on the shop floor. It can be entered on a mobile phone. It can be entered by a helicopter crew as herbicides are being sprayed out in the middle of nowhere and then synchronized as soon as a mobile Internet connection is available (this is actually a real life example).

Ownership of Data – The accounting department is not primarily responsible for the accuracy of the data in the ERP systems. The users are. This is far more profound that it first appears and forces a reliance on internal controls (which is very consistent with Sarbanes-Oxley).

Future Predictability – The accounting software needs to be used to predict (and therefore prevent) future issues by notifying management in creative ways. Other ERP Systems are designed to tell you that the light bulb burned out last month. Know It Now Management's goal is to tell you the light bulb is about to burn out so you can change the light bulb before it burns out! This requires that historical data not have to be purged or archived or transferred to some separate business intelligence server. Today's databases are powerful enough so that you never have to purge data if the application is written to support that.

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