12 Rules for True Finance Applications

12 Rules for True Finance Applications

The Oxford Dictionary defines “principle” as “A fundamental truth or proposition that serves as the foundation for a system of belief or behavior or for a chain of reasoning.” Principles are the prerequisite for growing a well-behaved software system, too. The most famous principles in the computing history are probably the “IBM System/360 Principles of Operation” (POO). Those principles have been the foundation of a whole industry and created the software world we are living in. At Trufa,  we strongly believe in principles as well. Those principles have and do determine our daily decisions. We have even gone so far to abstract those principles into a set of 12 rules in order to share them with our customers, partners and employees. Rules Explanation True Numbers All numbers are calculated rather than approximated. No bias due to aggregates or cleansing. All Process Details No relevant information gets lost due to process gaps or omissions. No Semantic Gap The same language throughout the whole world of data. Transcending Silos All business functions look at the same source of truth. Forward-looking Simulating the future leveraging true relationships insights. Intuitive Usage Deciders understand their discipline without intermediaries (e.g. data scientists). Instant Live No data preparation (especially modeling) beyond access to raw data. “Viral” Implementation All potential users can study the data without further ado. Collective Intelligence Cloud-centricism enables collaborative decision making. Ready-to-run Apps No IT (ERP/BI) projects in order to install, configure and customize the software. Always Up-to-Date Friction-less and latency-less data provisioning. Simple Technology Robust and reliable due to significantly shortened technology stack. These 12 rules are built on Edsger Dijkstra’s insight...